In researching Chase I have found that they are very active in doing what they can to stop foreclosure and help people nation wide. They have made more than $4 million in philanthropic grants to support financial education programs and initiatives, $2.4 million of which was for mortgage counseling.
They have a toll free number for clients to call as soon as they think or are having problems financially. The number to Chase Manhattan Mortgage Corp is 800-446-8939 x 3553. I called it and it does not let you press an extension so you need to just press 0 and wait for an operator. I’m on hold as I write this. I’ll see what else I can dig up while on hold.
The hold message says 2-5 minutes.
Well they just picked up the phone and they guy named Joseph answers the phone. He had a thick accent and he sounded like he was from India. I asked if he could connect me to the extension that I found on the internet that was to assist in loss mitigation. He said, “I need a loan number or social security number.” I explained to him that I was just trying to find information on what their process was for helping clients that are facing foreclosure. He said, “Sir, I need your social security number!” I again told him my plight. He says, “This is the last time I am going to ask or I will end this telephone call!” I told have I don’t give out my social over the phone and if he could just connect me to extension 3553 please.
The phone went dead.
OK, here goes the second call. I pressed 0 and the message says the office is currently closed and please call tomorrow. Arghhh. I will try again tomorrow.
This is my first experience with them acting as if I’m a customer and I’m not impressed. However I believe in second chances. So, tomorrow will be the day of reckoning. As far as the number posted above, I would say it’s not reliable yet, until I confirm it.
{ 31 comments… read them below or add one }
I have an exploding ARMs set to reset on Nov 1 ($700 increase in my payment and 1.5 point increase on my rate). It will reset again in 6 months (up another 1.5 points). I tried to refinance, but my FICO is in the 650 range and the rates I am being offered are unaffordable ore require 3 points to get a manageable rate. I am current on my payments, but I will not be able to make the new higher payments so I am trying to get a loan modification.
I called the above number (wrong dept) and they told me to call 800-548-7912. I called, they took my loan number and forwarded me to 877-838-1882 ext 52195. Tom answered the phone, was very kind and told me to call 866-665-7629 after taking my loan number, name and address.
I called 866-665-7629 and a msg said that business hours are 11AM-8PM M-TH, 8AM-12PM F.
I left a message and will update folks as this proceeds.
I called back at 866-665-7629 and spoke to a live person within about 10 minutes. Lakisha was very kind, took my loan and income info, asked for information on a few bills and asked me what my hardship was. I told her that I did not think I would be able to make the higher payments starting on Dec 1 and that I have tried to refinance, but the terms I have been offered have been unaffordable. She told me that she was referring me to teh ARM Reset Team and that they would be contacting me within 2 to 3 business days. She also told me that they would request further information including: a hardship letter, two recent paystubs, tax returns for 2005 and 2006, as well as two months of bank statements. She told me that the ARM reset team would process this information and forward it on to the actual department that approves/denies loan modifications that is out in San Diego, CA and they would call to discuss the final terms with me.
Wish me luck. if I can get them to convert my loan to a fixed rate at my current rate of 6.4% then I think I will be able to keep my home.
Thanks for posting this information! That’s exactly what I would like people to do. Pay it forward. I will update my list and please let us know your progress with Chase!
Best of luck and thanks for the contribution.
Ambien.
Ambien sleeping pill. Ambien. Ambien online. Generic ambien. Ambien overnight. Ambien side effects. Ambien hallucinations dizziness.
Adderall side effects.
Buy wholesale adderall. Adderall xr. Adderall.
Cialis with viagra.
Buy cialis phentermine. Cialis lawyers. Cialis.
Soma.
Soma muscle relaxer. Soma prescription medicine. Soma. Soma ironman. Akane soma.
Buy cialis.
Cialis 20mg. Cialis best price buy online. Liquid cialis. Cialis. Viagra vs. cialis.
Tramadol.
Tramadol 180 cod. Will tramadol hcl test positive in drug testing. Tramadol. Buy tramadol online best prices limited time off.
Well its Nov 13, 2007 and I have not heard anything from Chase. My loan has reset to 7.9% and I am hoping that Chase will retroactively modify my loan.
Chase contacted ME offering loan modification because my rate is going up to 9.5 from 7.5 in January. I thought that it was a good sign that the bank called me. They took preliminary info and said I would be contacted in 3-5 business days. If they don’t call me I will keep calling. They said your debt to income had to be at least 70%. Does anyone know the criteria for being approved?
I was a loan service manager in the 1980’s, when the portfolios were smaller, but we had all those foreclosures during the 80’s due to the S and L Collapse. They eventually all merged into mega servicing centers.
As with everything nowadays, the functions are so “fractioned” that they only understand one small piece of the pie instead of the whole thing. Understanding the whole piece is vital to proper servicing, especially when dealing with the current situation.
Also, servicers do not like to put money into their employees as they consider it a non-profitable sector of the industry. While they make their servicing basis points, additional QUALIFIED personnel is not on their agenda unless it is adding personnel to foreclose. You calling in to complain, or requesting changes or information is a bother to them. You are supposed to just make your payments and shut up while they collect their .25 basis points. So on a $200,000 loan, they make about $50 for processing your loan payment and maintaining it on a data base every month.
Servicing was always the underpaid part of the industry. In 1986 I was a loan service manager. A staff underwriter made more than I did!! That is why I switched to underwriting.
attention CHASE MODIFICATION DEPARTMENT we want to keep our house and not be another short sale or worse (foreclosure),i submit all the documents you ask for and i am waiting for an answer,my contact person on charge of my file is Joseph Salazar
866-665-7629 .Please contact me at 561-568-0351 or contact by email.
THANK YOU
I have an adjustable rate mortgage that is currently around 13.0% and it will go up again in 6 months. I was 3 months late and chase foreclosed on my house; I entered into a repayment plan with chase, which had an initial payment of $3000 and a monthly payment of $2500 for 8 months (my original load payment was $1167 before property taxes). I sent in the modification request to chase back on Sept 5, 2007 and in October when I called to check on it I found out that Chase had lost it. I re-sent everything back to Chase around Oct 9, 2007 and I still have not heard anything back from them. When I call and try and get hold of the rep for my account, I always get his voicemail and he never returns my calls. If I put in the general modification extension 53345, I get the Chase loss mitigation department. I finally got hold of my Rep while I was typing this. I had called the 877-838-1882 ext 53345 got the Loss mitigation group, complained that it had been so long in processing. The rep in the loss mitigation department put me on hold and called the loan modification rep and then transferred me to him.
The loan modification rep told me that they have not started processing my application for modification, that he should be getting to my application by Dec 7, 2007 and that it will take around 1 hour to complete if there is no more paperwork needed from me. So for one hour of processing time, my request has to sit on a desk for over 3 months???
I am beginning to wonder if Chase is serious about doing Modifications or if they are trying to get every dollar they can out of someone before they complete the foreclosure.
with the influx of all the workout options being processed due to the ARM adjustments. most workout options are taking double what they use to. be patient and stay in contact with your loss mitigation specialist.
I am behind on my payments of $1360 a month. 3 payments as of Dec. 1–I have been working with the modification dept. since the first of November. I keep getting the run around as well. I faxed all of the requested information to a fax number that Chase gave me, only to find out 2 wks later they never heard of that fax #. I asked for a new number faxed my information there 11/13/07 and 11/21/07. I was given a rep. for my account but when I called and asked for that person, they said who gave you my name…its is “x” that is handling your account. I was told the whole process takes 3wks, and now I am being told it takes 30 to 60 days. Every time I call its a different response, they say they are busy………I have asked for a new interest rate to lower my payments or for them to authorize a short sale, and or title in lieu. At this rate, I will start to get the forclosure notices in the mail, as I am to make a payment soon, and wonder if I should just hold on to it until I get some valid response?
Homeowner in Michigan
Shawna, Same thing here.. Also in Michigan.
Started the Load mod process about 30-45 days ago.. They have took all info by phone, prequalified us, then sent us the application and told us to fill it out and fax back with pay stubs, bank statements, ect.. We did that, she then said it’s been recieved and approved.. She needed to get her supervisor to sign off on it and then the loan mod final paperwork would be here in 5-10 business days.. NOTHING YET! Now, I understand the holidays have slowed things but WOW.. Its now a new month and another month behind.. Since we have started this process, they don’t want us to send payments because they say it will messup the current loan mod but I have that they won’t take payment.. She did say our first new payment would be due in FEB but it’s sure hard to sleep at night waiting on the final paperwork. I have called acouple time this week with no call back.. And if you call more then once and leave two messages, they get mad..
I am holding the money she told us to hold for payment when send in the paperwork, plus little extra.. just incase something goes wrong and we have to do a payment plan and scrap the load mod..
What to do?1?
I called Chase after the Home Preservation Foundation prepared our budget. I told them I was interested in a forebearance arrangement since we have minimal income. The young man told me that I could proceed but probably wouldn’t get it because Chase only gives forebearances to terminally ill customers.
Carole, if you log onto the Loansafe.org forum, http://loansafe.org/forum (the link is also above) you can get some information and support that will help you with your situation.
Hope to see you there.
MOE,I THINK YOU LEFT OUT PART OF THE# ,WHAT IS THE WHOLE #? THANKS
I have the FHA Secure loan available and I am able to help clients refi their 1st out of an adjustable rate. But, this frequently requires modifying the 2nd. My client has been unsuccessful in being able to talk to anyone for help. He only knows that Amerca’s Servcing Company has his 2nd. I had to explain they only collect the payment. Please help by giving the rest of the phone number!
With much appreciation!
Sonny
I too have sent in Modification paperwork to Chase back in Dec 07, only to get the run-around from that point forward and a different answer each time I call (which is on the magnitude of twice a week), so here I set in April, 5 monhts gone by, while they collect interest on the holding account all my payments go into and charge me late fees at the same time while I wonder when, no longer is it an ‘if’ but when the sherrif is going to come to serve notice even though I’ve expressed this fear to Chase and been told I don’t have to worry since it’s marked an 04 whatever. Is there any rumblings of a class action lawsuit yet?? Perhaps there should be…………this can’t be legal and it’s certainly not what I would condider ethical business practices.
I have been going through “loan modification” since 11/07. Guess what? Still nothing. Somewhere they had are bring home pay at S4900 a month. I have no idea whose income they were looking at, but it wasn’t ours. They finally sent a package and it was the exact same thing we were fighting. Since it had to go back to loan modification, they just keeping tacking on charges which I feel we should not be responsible for since we never reported that income. Joseph must be a busy man. He seems to contact everyone. I filed with the Attorney General’s Office of my state which was a waste. They in turn, turned it over to the OCC. So far, nothing. By the time they get finished tacking on their fews and back payments, the house will have a loan of 3 times the value it is worth. I’m sure I will get a call or letter asking for more info. It’s just to stall. I don’t understand how some people get those taken care of in no time. It has been 8 months for us. Why? Don’t say call – I just get shoved from one person another and no one knows anything!!!!
Here is my SUCCESS story with Chase. I applied for a mod in December ‘07 and they lost my file. I had to do it again in January. Then, after two months and calling weekly it was “at the underwriters.” After two more months and weekly calling I was being put on a priority list because so much time went by. Finally, a week ago I was successful. I heard I had been approved and the people on the phone really couldn’t tell me what the terms were. Today I got a simple letter:
Your old rate of 8.69% (this was the arm it really started at 6.7% for 2 years) has been modified at the fixed rate of 5.375% for the balance of the loan.
HOLY CRAP!!! I can keep my house and actually got a GREAT rate to boot!
I hope everyone stays with it and can keep their homes.
FYI I was falling behind in my payments more and more over the course of this process. I never got 30 days behind, but I was close.
Thank you CHASE!!
Hey Arthur! Congrats on the success story and for eventually being able to keep your home. I’m in the middle of a loan mod with Chase as well. Did you resume payments with the new loan + pay the outstanding amounts? Or did you simply resume payments based on the new rate once approved? Your help is appreciated.
It looks like Chase needs to do an audit of their customer service staff. Don’t give up on a mortgage modification if your lender is not making the process as easy as you hoped. Keep calling and asking. You can also hired a mortgage modification specialist to help you make the contact and do the negotiating.
I just went through the three month trail with Chase Home Finance. I have signed document that said I would get my modification if I made all the payments on time. The day after I made the last payment, I was sent 4 certified letters from Chase saying I was in Acceleration to foreclose. This has been a two year battle with Chase. I wish I had the money for a Lawyer what a case I have. Two stacks of paper work I have files with OCC and the BBB.
I have a first & Heloc with Chase. I am past due with each. Today I contacted Hope Line and have scheduled a meeting. Has anyone had good results using 995Hope.org? OR do you have any other connections to work on an affordable loan program or mortgage modification
I would suggest you stay away from these people.
My experience with them cause me to rate them as predators.
You could lose your house as others have. Their main goal is to get $2500 to$5000 from you after that they do a little work and then refuse to communicate. If need more info send me an email.
Jack
If you want to know what is actually going on in the loan modification and foreclosure business, spend an day at the federal bankruptcy court in your area. It is quite a shocker to listen to what is actaully going on.
I attended. In the space of 1 hour 79 people lost their homes based on attorney surrenders. Only two people fought and won the day.
The Trustee complained that she had seen no Loan Modifications or successful short sales. One attorney welcomed another to the
court of broken dreams.
My advice is to fight even if you have to do it yourself.