Fannie Mae’s Streamline Loan Modification

Fannie Mae just published their guidelines on streamline loan modifications. It is very interesting and smart. They adjust your payment for a 3 month trial period. The key highlights are on page 2 of the link below. You have to set up a new escrow account and any shortage will be funded by the loan servicer.

https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0833.pdf