Trail loan modification
call your lender!!
Are you not sure what this is all about. For home owners that qualified for this program by having a Fannie Mia or Freddie Mac home loan. Put you into this program if you were have trouble with paying for your home.
So if you do not make the 3 payments that they have set up for you then you will not be able to be considered for the permanent modification.
What does this mean to the home owner.
When you get the packet from the lender you need to get on the phone with them and make your payment.
If you are still not able to make this payment, I would let the lender know. They may tell you that you need to try to sell your home. You then may have to sell it as a short sale.
Make sure that you understand what is going on. You may have signed loan papers that you did not understand. But ask questions until you understand. You will not get a second chance at this.
The government has a set amount they want done is a set time frame. So they will be pushing to get this done. Right now they have hit their goal and are 3 weeks early in doing so.
Remember if you can see that you will be able to keep up making these new payments let the lender know before you make your first payment.
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