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cliffdweller · 06-02-2009, 11:40 AM

The "Trial Plan Agreement" is on WaMu letterhead - no mention of the Homeowners Affordability plan under OBAMA guidelines that others are speaking about.

It addresses the First only. I am reading from other threads that there is a separate application required to modify the second.

The letter is cautious and tentative..."if you comply with all the terms of this Agreement, we'll consider a permanent workout solution for your loan once the Trial Plan has been completed."
It does not say trial modification and there is no indication that the $1740 will remain after the trial plan....nor is it clear where this figure came from. The figure is close to 31% of our gross for principal & interest, but no taxes and insurance. The letter says "All of the original terms of your loan remain in full force."

Yes - I have seen 2 attorneys for consult and have been told we qualify for chapt. 7 both times.

Hope this helps. Keep us posted.

06-02-2009, 11:40 AM	#38 (permalink)
cliffdweller Senior Member Join Date: Apr 2009 Posts: 179 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WaMu/Chase Mod Moving Forward The "Trial Plan Agreement" is on WaMu letterhead - no mention of the Homeowners Affordability plan under OBAMA guidelines that others are speaking about. It addresses the First only. I am reading from other threads that there is a separate application required to modify the second. The letter is cautious and tentative..."if you comply with all the terms of this Agreement, we'll consider a permanent workout solution for your loan once the Trial Plan has been completed." It does not say trial modification and there is no indication that the $1740 will remain after the trial plan....nor is it clear where this figure came from. The figure is close to 31% of our gross for principal & interest, but no taxes and insurance. The letter says "All of the original terms of your loan remain in full force." Yes - I have seen 2 attorneys for consult and have been told we qualify for chapt. 7 both times. Hope this helps. Keep us posted.