Melissa in Port Charlotte, Florida asks:

I requested a modification from my lender in September of last year. I was qualified and was told to start making trial payments that were almost half of my regular payment for three months. On the fourth month they said they were still reviewing my file and that I should continue to make the trial payments which I did until June. In June, I called them again and they told me again that they were still reviewing the file. I was concerned and asked; “why are my trial payments not showing as paid on my monthly statements?” Their response was for me not to worry about that, but my balance on the statements shows me more and more in arrears each month. I refuse to make another payment as I feel like they are simply giving me the run around. Can you help me?

Answer

Most likely we can help. As of January 2010, lenders are prohibited from offering trial payments until the financial documents of the borrower are reviewed. If approved under “HAMP” you would then have three trial payments, and if successfully completed your modification would be permanent.

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