when is a trial period required
If you received such a letter or expect to participate in a mortgage modification program, you may be curious about the trial period requirement. 1. Is a trial period required to get a mortgage modification? If your mortgage modification is part of the government's program, then yes, a trial period is required. Fannie Mae's guidelines specify a three-month trial period if your loan is already in default when the trial period starts, or a four-month trial period if your loan is current but default is imminent when the trial period starts.