Repayment Plan

[Anonymous]

House was in foreclosure.  Set up repayment plan to save house/credit.  Bank says they will do this deal with me sending in 4K to them and payments go higher for the next 9 months to pay off back debt.  Once account paid back to current payments return to original amount.  But no paper work?  Weird...Shouldnt I get a package to sign on this kind of deal???  Any thoughts?

[ShanetheMortgageMan]

Yes for sure get paperwork that outlines the plan, more common than one would like the bank comes up with some guideline you didn't fulfill to meet the terms of the repayment plan.  I'd call them back and thank them for the opportunity for you to catch up but you'd really like the terms of the repayment agreement in writing before proceeding.