Once you qualify for a HAMP loan modification, you’ll be put on a trial plan.
The HAMP Trial Plan Period requires that you make three or four on-time payments after the modification is approved. At the end of the successful trial, the lender can make the modification permanent.
You should note that the payment amount may change after the trial is over. The payment amount under the trial period plan is the lender’s estimate of what your payment will be under the modification. The trial period plan gives your mortgage lender time to complete this calculation and have the final number ready for your review and acceptance.
Typically, permanent modification payments are quite close to the trial period plan payments.