Question: I qualified for the modification program. I am currently making payments for the "trial period plan." I have received documents(modification agreement) that I must now have notarized. Would you be able to provide me with some highlights as to what I should review or pay more attention to in particular? Ocwen is my mortgage company.

Answers

Posted By: loanmodpro on Dec 09, 2009 04:31PM

A: Well the key points to always pay attention to is the new rate/payment and the term for the new rate. This means make sure you understand what you new interest rate is. This will determine your payment. Also please determine how long this new rate will be in effect (the new term of your loan).