Main AI reads your loan-modification or forbearance offer and flags the real new terms, capitalized balances, balloon payments, and rights you may be giving up.
Most modifications start with a 3–4 month trial at the new payment. Complete it on time and the permanent modification should follow — but the fine print on what happens to missed-payment reporting, fees, and the deferred balance during trial is where borrowers get hurt. Read it before the first payment.
Upfront fees, instructions to pay anyone other than your servicer, "guaranteed" approvals, and advice to stop communicating with your lender are the classic markers. Legitimate help (HUD-approved counselors) is free. No legitimate modification requires payment before results.
It depends on how the servicer reports it — "paying under a partial payment plan" notation, prior delinquency, and whether trial payments are reported as current all matter. The agreement often specifies reporting treatment; if it doesn't, ask in writing before signing.
You're entitled to the specific denial reason and, under federal servicing rules, an appeal window for many loan types. Denials based on income calculation errors are common and winnable. Other paths — forbearance, repayment plans, refinance — remain open.
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