FAQs
I've made all my payments during the trial period; what happens next?
Successfully making your trial payments is a major step toward finalizing your permanent loan modification. To complete the process and make your new loan terms official, there are just a few final steps.
What happens next:
- Complete any remaining requirements: If you were asked to complete housing counseling or submit any final documentation, please ensure those are finished.
- Watch for your official documents: Once your trial is successfully completed, we will send you a letter and an official Modification Agreement defining the exact, permanent changes to your home loan.
- Sign with a notary: You will need to sign this agreement in front of a licensed notary public.
- Return the agreement: Return the notarized documents to us as soon as possible, but absolutely no later than the deadline date listed on your paperwork.
What to do while you wait:
Your modification only becomes permanent after we receive your notarized agreement and verify the signatures. Because this administrative step takes a little time, we strongly encourage you to continue making your monthly payments at your trial period amount until your permanent modification is officially active.
Important Note About Your Final Payment:
Please be aware that once your loan is permanently modified, your final, official monthly payment could be higher than the estimated payments you made during your Trial Period Plan.