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Making Home Affordable An official program of the Departments of the Treasury & Housing and Urban Development

 

 Understanding the Trial Period

​If you are eligible for the Home Affordable Modification Program ® your mortgage servicer will usually put you on a three-month trial plan to let you demonstrate your ability to make timely payments at the new monthly payment level. If you successfully make all required payments during your trial period, your servicer will execute an official modification agreement. You will be required to sign the modification agreement and attest that all of the information you are providing your servicer is true and accurate. Misrepresenting any required information is a violation of federal law and has serious legal consequences. At the discretion of your mortgage servicer, if you are in an active (open) chapter 13 bankruptcy case and you are determined to be eligible for HAMP, you might not have to complete a trial period. Consult with your attorney or, if you do not have an attorney, consult with the bankruptcy trustee.

For more information about documentation requirements, visit Request a Modification.

Important Notice for Borrowers Who Received a Trial Period Plan

You must make sure that your mortgage servicer receives all of the forms and documents they need to verify your eligibility and offer you a permanent Making Home Affordable © Modification before your Trial Period Plan expires. Your trial period plan notice will indicate your document due date. Double check the Request a Modification page and send any missing documents to your mortgage servicer right away.

If you believe that you have sent all of the required forms and documents, contact your mortgage servicer to confirm that they have everything they need to make a decision.

If you have trouble reaching your mortgage servicer, or you need help completing the necessary documentation, free help is available from a HUD-approved housing counselor by calling 1-888-995-HOPE (4673) and asking for MHA HELP.

YOU MUST ACT NOW SO YOU DO NOT LOSE THE OPPORTUNITY FOR AN AFFORDABLE MORTGAGE PAYMENT.

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Last Updated: 5/23/2013 9:58 AM