What happends after my 3 month trial modification?
If you are wondering why you will need to resubmit your financial information over again
, is simply because the lender has to verify your income and assets before finalizing the modification. Remember the trial modification, is just that a TRIAL, not a finalized modification. The government HAMP program is structured this way to ensure you can resume making mortgage payments on time. Once you have completed the trial payments and have resubmitted your financial information you should then receive again a phone call and or a packet in the mail with your final modification terms. This packet will disclose your final rate and new term. Congratulate yourself on having successfully modified your mortgage loan!
What happends after my 3 month trial modification?