Loan Modification Trial Payments

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In this video I would like to discuss with you Trial Payments. Hey homeowners it's Josh Sternberg from Sternberg Law Group coming at you from sunny Southern California.

Now, what are Trial Payments? Trial Payments are the three payments you are required to make
before you get a permanent loan modification. So the scenario is that you apply for a loan modification for Mortgage Assistance you get approved, but before the approval before the loan modification is closed is made solid - they want you to make three trial payments.

The history of trial payments is that before lenders or Banks were giving loan modifications without requiring trial payments, and what was happening is people in hardships of homeowners and hardships would receive this loan modification, they would accept the loan modification. The loan would be brought current which means there would be zero outstanding balance but the homeowners were still in hardship and they couldn't make a mortgage payment.

Watch the video till the end, so you can learn more about this topic.

00:00 - 00:11 - Let's discuss topic "Loan Modification Trial Payments"
00:12 - 04:33 - Full explanation of the topic
04:34 - 04:48 - If you have any questions, please contact Sternberg Law Group

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#sternberglawgroup #foreclosureattorney #mortgageattorney Disclaimer: The information provided in this video is for general informational purposes only and is not intended to be legal advice. Viewing this video does not create an attorney-client relationship. If you require legal advice, please consult a licensed attorney in your area

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