final mod docs

sandiegosub

LoanSafe Member
May 23, 2010
60
0
6
hi all

We finished trial mod 3rd month in july
I got the final perm mod docs and the first payment
is due oct 1
I did not pay aug and dont plan on paying sept
Is this the right thing to do or can they deny me now that I
did not pay aug sep
I am having the docs notarized and sending them back today.
 

Michael Naz

Michael Naz
Jan 9, 2011
2,965
38
48
Southern California
hi all

We finished trial mod 3rd month in july
I got the final perm mod docs and the first payment
is due oct 1
I did not pay aug and dont plan on paying sept
Is this the right thing to do or can they deny me now that I
did not pay aug sep
I am having the docs notarized and sending them back today.
Call and ask, if unsure, this is a good way to lose everything you worked on, The agreement for final MOD will have next payment date and amount, which should be same or within dollars. Do not skip a payment, I have seen too many folks get the bad end of that deal. Call and make sure all your questions are answered.
 

LostRM

LoanSafe Member
Apr 19, 2011
93
0
0
a small cubical with a view
Chase isn't going to say don't pay your mortgage, but correct once the trial plan payments are done, you don't have to pay the payments between that and the final mod. The only time that doesn't work in your favor is if something goes wrong before you get your countersigned doc's. Then the will say why didn't you keep paying.
 

TomEason

LoanSafe Guide
Jun 18, 2009
12,390
85
48
SF Bay Area CA
LostRM

Thanks for your post. I agree with you that Chase might try to pull a fast one, but I nevertheless advocate that a member never make more than three TPP payments.
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
sandiegosub,


If you made the last trial payment in July and have just received the permanent docs with first payment due October 1st., then the chances are that the August and September payments were already calculated into the unpaid principal amount of your loan.