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MW87178 · 06-30-2009, 05:46 PM

My trial mod payment is 31% of our income, not including taxes and insurance. Since these are escrowed they would be factored into any perm. mod and will be added to our apparent never ending trail mod beginning August 1. We did make a lump sum Western Union payment yesterday for the 3 months of unpaid taxes/insurance (Chase error in calculating) and I was told that this means that we will not have to go to the back of the line and start over with a new trial mod for 3 more months. Of course, we will be continuing to be on this trial until they decide whether or not to make our mod permanent. Someone commented that we will need to be 30 days late to qualify but technically we are heading towards 90 days late since during this trial period I have received my regular statements from Chase and my payments have not been applied to my mortgage but are being held in a special account. This is what makes it all the more absurd and frankly smells like they just don't want to modify. They don't have a program for us because we weren't late when the trial period began but now we are late because of the trial mod! This is nonsense!!

Does anyone think I should follow up with someone on the Exec. team? Is there any point. I've had the same analyst since January and he knows me when I call, which I thought was good sign but now I wonder.

We are not underwater yet, still have I'm guessing about 100-150k in equity, not that anything is selling where we live, but that would be the appraisal. We put 35% down when we purchased in Sept. 2007.

It seems to me from the posts above that NO ONE who has finished the 3 month trial has received a perm. mod. Can this really be true?

Thanks again for any advice. I'm feeling really, really desperate.

06-30-2009, 05:46 PM	#21 (permalink)
MW87178 Member Join Date: Jan 2009 Posts: 28 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Thread - Reporting 3 Month Trial Updates My trial mod payment is 31% of our income, not including taxes and insurance. Since these are escrowed they would be factored into any perm. mod and will be added to our apparent never ending trail mod beginning August 1. We did make a lump sum Western Union payment yesterday for the 3 months of unpaid taxes/insurance (Chase error in calculating) and I was told that this means that we will not have to go to the back of the line and start over with a new trial mod for 3 more months. Of course, we will be continuing to be on this trial until they decide whether or not to make our mod permanent. Someone commented that we will need to be 30 days late to qualify but technically we are heading towards 90 days late since during this trial period I have received my regular statements from Chase and my payments have not been applied to my mortgage but are being held in a special account. This is what makes it all the more absurd and frankly smells like they just don't want to modify. They don't have a program for us because we weren't late when the trial period began but now we are late because of the trial mod! This is nonsense!! Does anyone think I should follow up with someone on the Exec. team? Is there any point. I've had the same analyst since January and he knows me when I call, which I thought was good sign but now I wonder. We are not underwater yet, still have I'm guessing about 100-150k in equity, not that anything is selling where we live, but that would be the appraisal. We put 35% down when we purchased in Sept. 2007. It seems to me from the posts above that NO ONE who has finished the 3 month trial has received a perm. mod. Can this really be true? Thanks again for any advice. I'm feeling really, really desperate.