Compare Mortgage Quotes

Posted: Fri Oct 02, 2009 6:27 pm Post subject: Loan Modifications

what are the chances of getting approved for a loan modification once placed on a trial payment plan ?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Loan modification trail is based on the data you have submitted to them. like you financial infoamtion Incoem, debt and other commitments

So they have determiend the trail based on that data and probably they think that you need the loan modified due to that current situasion

They are trying to mesaure how realiable you will e once the modification is really done. So they are testing you in the trail period toe make sure you meet the needs

If you meet the terms and tiemliens of the trial period you have a very good chance of loan gettign modified completely

Guest

thanks so much i keep reading about modification and see more nightmares than sucess stories, im getting worried that after i complete the trial period they will deny me.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Mena

Lot of pople are in the same situation

As of now start with a positive mind. Since you are in step one now with trail period, follow it and see where it takes

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Unless you ave other option, then this is the only option as of now

missed to type the whole sentence in my last post

Guest

Thanks so much ! WF reps are not fully knowlegdeable on how the complete process works. One day i get there is a possiblity of denial the next day i get you are as good as in when placed on the trial plan!!!!

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

I know

Remmeber it isnto the fault of the agent who answers the call.

probably they have been trained to answer the calls in that way

jenkin7 · Posted: Fri Oct 02, 2009 11:30 pm Post subject:

Hi Mena,

The trial payment plan is a way to determine if you can afford to make the mortgage payments as per the modified plan. There is little you can do if the modification is denied. But since they have approved the trial payment plan, it means they feel a loan modification is indeed needed in your situation. Thus, if you keep making the payments on time according to the modified payment plan, it is expected that you will be approved for a long-term modification plan. So, make sure you do not fail to make any payment during this trial period.

manoj_gopale · Joined: 16 Feb 2009 Posts: 488 0.00 Dollars($)

mena,
welcome to mortgagefit.

If you have been allowed for trial payments there are very good chances of yor approval of the loan modificaton, so in my opinion you should concentrate more on paying the installment rather than going for other jargon.
If you take care of basic things, rest of the things will be taken care.....
keep in touch....

hemsleysue · Joined: 13 Sep 2009 Posts: 72 0.02 Dollars($)

you have very high chances. do not worry about replies given by agents.

keep paying as per trial plan

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Loan Modifications