TMQ Plan has anyone heard of or dealt with????

[lisareza1149]

I have been dealing with Chase for 6 months trying to get a modification on my 1st (wells fargo is my investor). I was current on payments and lost my Unemployment and am now 3 months behind (STILL HAVE MY HUSBANDS INCOME) August it was assigned to an analyst who was extremely helpful and got me to underwriting by the end of the month i called weekly to check status. First mo. of Oct. he said that the BPO was ordered and that was a "good sign" I have called weekly since then and not gotten him, left several messages aNd finally on 10/30 pressed 0 for status and got someone else. This person told me that I was now 3 mo. past due(default) and neded to talk to the Loss Mittigation dept. because they could work with me quicker on a workout plan under the MHA Program. I called today and was approved in 10 minutes under what he has called the TMQ plan "the old Obama Plan" basically I gave him my husbands gross, he ran my prop. values and said I was approved my payment would be 31% of income for 3 mo. trial mod then go to review for permanent review. He also wanted to take the 1st payment today for 12/1? I have googled this TMQ plan and have found nothing.. does anyone have any advice. My ? is how come i was in limbo for 6 months and then all of the sudden this Dept. can offer me trial mod. so quickly with out any paperwork? Is this safe?

[yomann]

I would request to see a written copy of the Trial Plan, prior to making a payment.
You do not want to make any payments to a Collections person.
This may also be a sign of the logjam loosening up, as some posters have hinted at ...... ?
You need to hear what the Senior Members of the forum have to say.

[lisareza1149]

That is what I did.. I asked why do I need to make 12/1 payment now without anything in writing he said I would recieve it in 10-15 days so at this point I am waiting to see it in writing.

[exhausted girlfriend]

yomann,

what do you mean by a logjam?

[yomann]

Originally Posted by exhausted girlfriend

what do you mean by a logjam?

I mean with all the loan mods submitted and not completed, the banks are under pressure to get some of these done.
I read somewhere on another thread, the Obama Admistration set a target for "X" thousands to be completed by the end of November - so perhaps the banks are picking up the pace ...... ?

[exhausted girlfriend]

That would be awesome as i am now on month 7 of the trial plan.

[lisareza1149]

I got my Fed ex Package with the trail payment plan under the MHA Program!! The terms are as previously quoted. So i will make my 3 payments and keep my fingers crossed for the permanent modification to go through.