I was approved for a HAMP trial. Signed and returned, with all the requested docs on 3/18.
I've been told, twice, that I'm approved and will remain as such as long as I make my 3 payments and my financial picture has no drastic changes. On-line status indicated the same.
While I was out of town I got a couple of letters from BofA.
The first dated 3/19 contains what appears to be a "Special Forbearance Plan Agreement Payment Schedule". The only reference to such an agreement is in the terms and conditions that I'd be agreeing to, otherwise it's not labeled anything in particular.
It says to sign and return to Workout Dept in Plano Tx within seven days. Which would have been impossible even if I had been in town. It's drafted the 19th, postmarked in LA Ca 3/25 and LA is at least 3 days away by First Class mail. It also says all payments (equaling my trial payments) have to be made in secured funds.
The second letter dated 3/24 is an escrow analysis. It has a payment coupon enclosed for a few hundred, but the last page of the letter states;
"You are currently participating in the Home Affordable Modification Trial Period Plan. During this Trial Period, you may make your monthly payments at the Trial Period monthly payment amount, which is $1xxxx.xx instead of the amount shown on this statement."
Did I miss something and the trial IS a special forbearance?