I just received my letter from WF stating that I was approved for a loan modification (after waiting three months) and I have a three month trial period. What I don't understand is that my payments are only $37.00 less than my current amount. I'm confused and would like any comments/suggestions as to whether I should sign the paperwork for the loan modification or if I should do a [url=http://www.mortgagefit.com/refinance.html]refinance[/url] (my current rate is 7.125%). In the loan modification paperwork they don't tell me what my payments will be after the 3 month trial period. How do I know that my payments will not be higher than I'm currently paying. I thought the purpose to the loan modification was to make your payments less than the current amount to give you some type of relief until your situation improves. Any comments/suggestions are appreciated.