This sounds a bit shady for me but, I'm hoping you guys can give me some input:
-My foreclosure sale date is in early June.
-Have been trying to get loan mod from LBPS since last year and only couple of months ago they actually process the paperwork (after I called them every couple of days to check on the status).
-Yesterday, they told me that they can qualify my loan for HAMP trial but they cannot start the process if I don't make the contribution payment -- 25% of the amount past due -- they said that this contribution payment is to postpone the foreclosure process while waiting for the HAMP trial approval. They also said that if not approved they will return the 25% contribution payment.
-When I asked them to send me some paperwork in writing to that effect, they said they only give verbal agreement.
What do you think? Should I send in the contribution payment?