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Old 02-24-2009, 11:47 PM
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Default Loan Modification with jp chase in florida?

I can't afford my mortgage payment and I called the bank and they offered me a forbeadance plan for 3 months, and when I check my credit they are reporting as late payment every month now I started to pay my first month after the forbeadance plan and they continue to report that I'm not making the payments and when i called again they told me that I have to pay all the money i did not pay for three months and also that my payments are in hold untill my account is current. I'm doing now a loan modifiaction with a company and here is my question shoud i continue making my payments or should i wait until this is over
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Old 03-15-2009, 02:09 PM
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Default should I make payments waiting for a loan modification

that is a personal issue but remember that you will be required in many instances to provide a contribution, sometimes as high as 50% of past due. That is negotiable. That is true when you are on a repayment/forbearance plan you will be continued to be reported late with the credit bureau and monies will be held in a suspense account until the end of the plan.
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