Do Non Mha Mods have trial periods? - Loan Modification Forum

kura52 · 10-01-2009, 11:18 AM

Working with B of A for loan mod. Just checking with the forum on this. Forgive me if it is a stupid question. Are the 3 mo trial payments strictly for the MHA mods? or would they result with other mods as well? Perhaps inhouse mods or step rate mods, etc?

Evan Bedard · 10-01-2009, 11:27 AM

Hi kuro52,

Quote:

Working with B of A for loan mod. Just checking with the forum on this. Forgive me if it is a stupid question. Are the 3 mo trial payments strictly for the MHA mods? or would they result with other mods as well? Perhaps inhouse mods or step rate mods, etc?

No step rate or the regular in house modification should not have a trial period set up. But they may offer a forbearance on a regular modification as I have seen many times before..

Tracey · 10-01-2009, 12:00 PM

Hi

We just received a modification through NACA for our BOA/Countrywide mortgage. It broought our 7.125% ARM down to 5.45 for the remainder of the loan. I did not have any trial payments/periods. The paperwork has been done and my online account is updated as of today.

Evan Bedard · 10-01-2009, 12:53 PM

Quote:

Hi

We just received a modification through NACA for our BOA/Countrywide mortgage. It broought our 7.125% ARM down to 5.45 for the remainder of the loan. I did not have any trial payments/periods. The paperwork has been done and my online account is updated as of today.

Congratulations Tracey on the modification!!

bdcv92154 · 10-01-2009, 12:59 PM

I too was offered a non modification step rate by B of A. Its a step rate up to five years, then fixed rate at 5.25% for remainder of loan. Also, no trial period on this.

10-01-2009, 11:18 AM	#1 (permalink)
kura52 Senior Member Join Date: May 2009 Location: Dearborn, Michigan Posts: 49 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Do Non Mha Mods have trial periods? Working with B of A for loan mod. Just checking with the forum on this. Forgive me if it is a stupid question. Are the 3 mo trial payments strictly for the MHA mods? or would they result with other mods as well? Perhaps inhouse mods or step rate mods, etc?

10-01-2009, 12:00 PM	#3 (permalink)
Tracey Senior Member Join Date: Aug 2008 Posts: 34 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do Non Mha Mods have trial periods? Hi We just received a modification through NACA for our BOA/Countrywide mortgage. It broought our 7.125% ARM down to 5.45 for the remainder of the loan. I did not have any trial payments/periods. The paperwork has been done and my online account is updated as of today.

10-01-2009, 12:59 PM	#5 (permalink)
bdcv92154 Member Join Date: Jul 2009 Posts: 9 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do Non Mha Mods have trial periods? I too was offered a non modification step rate by B of A. Its a step rate up to five years, then fixed rate at 5.25% for remainder of loan. Also, no trial period on this.

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