Trial period...what % is payment? - Loan Modification Forum

sahm2two · 08-04-2009, 09:46 AM

Hi, I am wondering for those who have been given a trial payment period how much their payment was before and what the trial payment is? Also did this change once the trial period was over and to what?

sweet75 · 08-04-2009, 12:48 PM

Our trial payment is $1,583 through Obama HAMP program and first payment is due Sept 1. Our payment was 1,897. Its a $300 difference, but about $350 short of making it to 31% of our income.

Liz Medrano · 08-04-2009, 02:12 PM

We just finished our third trial payment. Our original payment, which included escrows was around $3200 a month. The trial payments were for $1529, which is an awesome reduction, but still about $200 above the 31% mark.

sahm2two · 08-05-2009, 05:33 AM

Thanks for the replys!

Our payment (without overtime income) is right at 50%. They calculated the overtime into our gross income so it looks as if it is 38% of our income. So, I am curious to see what type of payment they offer. I would be in heaven to save $300 a month

08-04-2009, 09:46 AM	#1 (permalink)
sahm2two Senior Member Join Date: Jul 2009 Posts: 368 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Trial period...what % is payment? Hi, I am wondering for those who have been given a trial payment period how much their payment was before and what the trial payment is? Also did this change once the trial period was over and to what?

08-04-2009, 12:48 PM	#2 (permalink)
sweet75 Member Join Date: Jul 2009 Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Trial period...what % is payment? Our trial payment is $1,583 through Obama HAMP program and first payment is due Sept 1. Our payment was 1,897. Its a $300 difference, but about $350 short of making it to 31% of our income.

08-04-2009, 02:12 PM	#3 (permalink)
Liz Medrano Senior Member Join Date: Jul 2009 Location: Fort Myers, FL Posts: 225 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Trial period...what % is payment? We just finished our third trial payment. Our original payment, which included escrows was around $3200 a month. The trial payments were for $1529, which is an awesome reduction, but still about $200 above the 31% mark.

08-05-2009, 05:33 AM	#4 (permalink)
sahm2two Senior Member Join Date: Jul 2009 Posts: 368 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Trial period...what % is payment? Thanks for the replys! Our payment (without overtime income) is right at 50%. They calculated the overtime into our gross income so it looks as if it is 38% of our income. So, I am curious to see what type of payment they offer. I would be in heaven to save $300 a month

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