Do you skip a pymt @ the end of trial?

[Amy3265]

So we made all 3 trial payments, Sept/Oct/Nov. We have our mortgage through Flagstar. We should know by next week if we are approved or denied for a permanent mod. Since December is coming up fast, will our 1st permanent payment (if we get approved in the next week or 2) be for December or January? OR is every bank different?
Sorry for my 8 billion questions, but it would be very nice to be able to skip December Wishful thinking since I am getting ahead of myself

[Hopefull2009]

I just made my 3rd trial payment Nov 1st also. I was told I MAY have a definitive answer by end of month and MAY not have to make Dec payment, but if I didn't hear, to keep making trial payments until directed otherwise. While skipping Dec would be nice, unless I see it in writing I'm going to keep making the trial payment amount.

Good luck to you!

[imlars]

Originally Posted by Amy3265

So we made all 3 trial payments, Sept/Oct/Nov. We have our mortgage through Flagstar. We should know by next week if we are approved or denied for a permanent mod. Since December is coming up fast, will our 1st permanent payment (if we get approved in the next week or 2) be for December or January? OR is every bank different?
Sorry for my 8 billion questions, but it would be very nice to be able to skip December Wishful thinking since I am getting ahead of myself

ABSOLUTELY DO NOT MISS A PAYMENT!!! Continue making the trial period payment until you get your permanent mod. I have heard of people having to make a 4th and even 5th payment before they got the mod itself. If you miss a payment they will say you broke the plan, you will not get a mod nor a second chance at getting the HAMP. After all you have had to go through you don't want to give them the opportunity to deny you now!

[Amy3265]

Hi! Oh No..I don't mean that I would miss a payment if I don't hear anything. I mean, if we get our FedEx packet with all the docs to sign/accept and return and we are finally permanent.....THEN do they have us go ahead and make the first permanent payment in Dec or Jan?

[Amy3265]

Hopefull 2009....HI! Sounds like we are in the same boat Good luck to you! I hope it goes well and I hope you don't have to make a Dec. payment! Crossing my fingers for you.

[MyHAMP]

Originally Posted by Amy3265

Hi! Oh No..I don't mean that I would miss a payment if I don't hear anything. I mean, if we get our FedEx packet with all the docs to sign/accept and return and we are finally permanent.....THEN do they have us go ahead and make the first permanent payment in Dec or Jan?

It's quite possible that the first payment would be due 01/10.

They often leave that last "payment date" open to have the numbers accurate when sealing the deal...

BTW, we are on the same timeline. 3rd trial payment was 11/01, we were told decision within 2 weeks and we should call back if we don't get a message by 11/23/2009.

[vavivo]

I made my last trial payment Sept and my first payment under the permanent mod was due Oct 1st. So nope, I didn't get to skip a payment.

However I was approved for the trial in April and didn't have to make the first trial payment until June, so at least I got to skip May.

[imlars]

Originally Posted by MyHAMP

It's quite possible that the first payment would be due 01/10.

They often leave that last "payment date" open to have the numbers accurate when sealing the deal...

BTW, we are on the same timeline. 3rd trial payment was 11/01, we were told decision within 2 weeks and we should call back if we don't get a message by 11/23/2009.

Seriously guys, don't count on a break. Keep making those 1st of the month payments until you have the new agreement in your hands telling you otherwise. It's only Nov. 7th. You could get your agreement a week from now and since you have been able to make consecutive payments on that date for the past 3 months they will exspect you should have no problem in just staying on that schedule for the life of the loan.
There is a extra pay day in December. Use it wisely.

[MyHAMP]

Originally Posted by imlars

Seriously guys, don't count on a break. Keep making those 1st of the month payments until you have the new agreement in your hands telling you otherwise. It's only Nov. 7th. You could get your agreement a week from now and since you have been able to make consecutive payments on that date for the past 3 months they will exspect you should have no problem in just staying on that schedule for the life of the loan.
There is a extra pay day in December. Use it wisely.

Although we won't get an extra pay-day (self-employed), we'll certainly keep making the payments as usual - UNLESS we get something in writing.

They could even call us and tell us a different date - won't stop us from paying...