[CHANLY]

I called today for an update from my 4-6-09 resubmit. I was told that Chase is now having Fannie Mae take all calls and given the number 877-419-6490 to call for update. I called and waited 45 minutes before speaking to someone. She said I qualify for the Obama plan and gave me my new payment, it was based on the wrong income amount so after I clarified expenses and the accurate income she said I still qualify. I will be getting Fedex package in 10-15 days and 1st payment will be due May 1, 3 month trial based on 31% of gross income then I will need to submit paperwork, hardship letter, etc. to get my final modification terms. It took quite a bit of conversation to get the income and therefore payment correct. She had the wrong numbers and then was using it as net, etc. She rep also said that the expenses are not considered but they do look at the property maintenance expenses, ie lawn care, etc. to make sure that you can afford the payment (??) Seems like a step in the right direction but I don't feel like I am totally 'out of the woods' yet until I get the final mod.