SunTrust Trial Payments

[trialpayments]

I have a question to those of you who are in the process of sending trial payments with SunTrust. How long did it take before they posted your payment? I am concerned because it is past the 1st, and they have not yet posted my payment. I know that they have received it because I sent it along with the packet, and they signed for the packet. If they post my payment after the 1st, will I lose my chance at the modification? Or will my payment still show as being received on time? What happens to a payment for the trial (does it post like normal)? I wanted to post it online, but they wouldn't allow it. I spoke with a customer service rep who advised me that my last payment was received in September, but he also advised me that they had my trial (October) payment, but it had not been posted. Should I be concerned because I am very concerned. Are they trying to hold my payment to make me miss my due date of the 1st?

[RRva99]

Hi,

I will be making my 3rd trial mod payment 11/1. As for my loan status, it was current when I began the trial mod. The website now shows that I am 2 months overdue. When I look at the loan activity, it does reflect that they have received the trial mod payments, but they are not applied to principal in any way. The important thing is that they have been received, the loan itself is kind of "on hold" during the trial mod period.

Good luck with your mod...I don't have a lot of faith in SunTrust or any of the other banks. I think they are just going to stall as long as they can. I saw an article today talking about how successful the HAMP program is--based on the number of loans "being modified." What they all fail to report is that a trial mod does not equal a permanent loan modification and therefore doesn't result in a foreclosure being prevented. I guess I shouldn't be so negative, but I have no faith in our government or economic system and I have very little hope that SunTrust will give me a permanent mod even though I am a perfect candidate based on program guidelines.

[trialpayments]

Thank you for your reply. I also do not have any faith in any banks. I hope that this works out for both of us. I've heard some scary stories so I'm quite nervous.

[teddy]

I have been making my trial payments for a while now, my last is in January, been trying to still get something permanent but no luck. Been trying for a mod since last November, good luck, not one person I have spoken with at SunTrust is honest.

[RRva99]

I called them on Friday to be proactive to check to ensure that they have everything they need from me, since my 3rd Trial Mod payment will be mad in the next week (due 11/1). They told me that they have all of my paperwork and hope to have a decision for me around the 3rd payment due date. I was told that it could take longer (I'm sure it will--and I'm sure they'll request more info and drag this out as long as possible) and if it does, just keep paying the trial mod payment amount.

Also on Friday, the other reason I called, is I received a letter stating that my mortgage is now severely past due and the letter included forms for a 3rd party servicer to "help me." I asked them why I was receiving a collections letter when I have made all payments on time and the only shortfall I have on my mortgage is the difference between my regular payment amount and the trial mod amount. I was told that the department responsible for reporting late mortgages is separate from loss mitigation and that I can ignore the letter. Just something for you to look out for in the future teddy. Good luck, and I'll keep you posted on my battle.