This is pretty long:
Finally after years of back and forth and bs, we were finally able to get a trial modification for our loan. we were able to get the loan modification with Partial clam. Great news, then I get a letter on Saturday ( the day 1st modified payment was due) saying that an escrow acct review was done on our acct and the difference between what the trial payment due and what they are saying the escrow review is approx $200 more a month.
So I called BOA and the associate informed me that we only have to pay the trial payment and the escrow will be reviewed at the end of the 3 month trial. But im a little leary of taking their word because I know their history. So when I read the modification agreement, it states: I agree to forward servicer amounts (in addition to those being made in connection with trial payment) required to permit escrow to maintain sufficient balance...failureto forward servicer sufficient funds to maintain escrow ccount shall constitute default, and at servicer's option, this plan may be terminated immediately without notice to me.
Anyone have any insight? I made sure I wrote everything the associate said, but I am unsure if I should just continue to making the trial payments or if I should pay the increased amount. I just don't want them to try to take advantage, because of course the letter came the day the payment was due. That is the NUMBER 1 thing that has me on alert
Starting Score: EQ 462 9/30/11
thank you guys, I am going to just make the additional escrow acct payments