Posted on: 14th Dec, 2009 11:20 am
hello, i have a first loan w/ boa. i owed $105,000, my second w/ chase is a equity line for $200,000. the prop. value aprox.$310,000. i been try to modify the 2nd, they put in me in a trial for 3 months payments of $2,100, and then they will see if they can modiy the loan. i am very worry. i am current on the first. i can' refinance . my fico is low. thank you for taking your time to answer.
Welcome mariaflores,
It is quite normal for the lender to give you a trial modification plan. If you pay your dues on time while you are in the trial plan, I don't think you would face any issues in getting a permanent loan modification.
It is quite normal for the lender to give you a trial modification plan. If you pay your dues on time while you are in the trial plan, I don't think you would face any issues in getting a permanent loan modification.