Comments on: Clinton Writes Paulson a Letter and Asks For 90 Day Ban on Foreclosures http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/ Loan Modification & Home Loan News Thu, 18 Mar 2010 17:28:50 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: GATORBAIT http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2377 GATORBAIT Tue, 17 Jun 2008 22:23:42 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2377 Let's hope that chase will be the same with the bear sterns loans that will need to be modified.. Let’s hope that chase will be the same with the bear sterns loans that will need to be modified..

]]> By: Arthur http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2378 Arthur Tue, 17 Jun 2008 22:01:40 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2378 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!! 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!!

]]> By: Lisa http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-8288 Lisa Sun, 08 Jun 2008 07:55:25 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-8288 Oh, and by the way, this issue is what's called a 'domino tipper.' Just wait, folks! It's coming your way... Oh, and by the way, this issue is what’s called a ‘domino tipper.’

Just wait, folks! It’s coming your way…

]]> By: Lisa http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-8287 Lisa Sun, 08 Jun 2008 07:51:44 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-8287 God, Moe--your words of wisdom come at the end. The fools who post here! Amazing! As I posted previously, it’s a strange thing that happens when people blame the victim. It almost always stems from a lack of understanding of the full situation. Allow me to educate you all a bit. TILA violations have been so rampant these last few years that they were almost ubiquitous. Do you know what TILA is? If you don’t, you’re not alone. Many attorneys do not know what TILA is or even know how to enforce it. In fact, even our possible president-to-be Obama is clearly ignorant of TILA’s existence—as evidenced on his website that he’d put in place protections and stricter disclosures. Guess what? That what TILA is! So, you have lay people signing documents that are based on laws that even lawyers don’t understand, haven’t read or don’t know exist. What they are signing can only be fully understood by an understanding of what the documents are supposed to be based on. If you don’t know what that is, then you aren’t making an informed decision. And guess what? That’s nearly all of us. I've always liked Hillary. She gets it--even when others don't. Like healthcare, she's got to wait for everyone else to get up to speed. I feel sorry for you 'stable, responsible' folks. When the economic tsunami hits, you'll be the most stunned of all. Why, how could it happen when you've done all the right things, unlike 'those' people? I can hear the sobs already. By the way, there's already a method by which one can change the rules of a contract. It's called bankruptcy. More than likely, your lender will be doing it--if they haven't done it already. God, Moe–your words of wisdom come at the end. The fools who post here! Amazing!

As I posted previously, it’s a strange thing that happens when people blame the victim. It almost always stems from a lack of understanding of the full situation. Allow me to educate you all a bit.

TILA violations have been so rampant these last few years that they were almost ubiquitous. Do you know what TILA is? If you don’t, you’re not alone. Many attorneys do not know what TILA is or even know how to enforce it. In fact, even our possible president-to-be Obama is clearly ignorant of TILA’s existence—as evidenced on his website that he’d put in place protections and stricter disclosures. Guess what? That what TILA is!

So, you have lay people signing documents that are based on laws that even lawyers don’t understand, haven’t read or don’t know exist. What they are signing can only be fully understood by an understanding of what the documents are supposed to be based on. If you don’t know what that is, then you aren’t making an informed decision.

And guess what? That’s nearly all of us.

I’ve always liked Hillary. She gets it–even when others don’t. Like healthcare, she’s got to wait for everyone else to get up to speed.

I feel sorry for you ’stable, responsible’ folks. When the economic tsunami hits, you’ll be the most stunned of all. Why, how could it happen when you’ve done all the right things, unlike ‘those’ people?

I can hear the sobs already.

By the way, there’s already a method by which one can change the rules of a contract. It’s called bankruptcy. More than likely, your lender will be doing it–if they haven’t done it already.

]]> By: Vallejo guy http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2382 Vallejo guy Wed, 04 Jun 2008 15:39:45 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2382 My adjustable rate of 5% ended May, 2007. Around mid-June (also in 2007), I started getting phone calls from the loss mitigation department checking whether I will be able to pay the new amount & I told them no & the guy I was talking to had me do the hardship letters & fax over all sorts of financial information. In the end, the only modification they did to the new 8% rate was make it a fixed rate at 8% & add principal payments which actually increased my monthly payments. What they did was they added my parents income to my income when the property was only under my name. I made it clear that my parents were only renting but that didn't matter. To me, it seemed their way of being proactive was just their way of showing or pretending they careed. But the end result? It's a joke! I will try one more time to get a modification. If it doesn't work out then I will just walk away. My adjustable rate of 5% ended May, 2007. Around mid-June (also in 2007), I started getting phone calls from the loss mitigation department checking whether I will be able to pay the new amount & I told them no & the guy I was talking to had me do the hardship letters & fax over all sorts of financial information. In the end, the only modification they did to the new 8% rate was make it a fixed rate at 8% & add principal payments which actually increased my monthly payments. What they did was they added my parents income to my income when the property was only under my name. I made it clear that my parents were only renting but that didn’t matter.
To me, it seemed their way of being proactive was just their way of showing or pretending they careed. But the end result? It’s a joke! I will try one more time to get a modification. If it doesn’t work out then I will just walk away.

]]> By: KATIANA CADENA http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2381 KATIANA CADENA Thu, 29 May 2008 02:11:55 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2381 I think Chase is not trying to help the homeowner at all. Is the worse experience that I had in my life. I started my loan modification on November of 2007, since that time I been calling Chase every other day. On March, 2008 I called and they told me that they lost my file (all the people over there treat me very bad finally one told me to send my keys by mail). I submitted my aplication again and on April they approved at 8% interested rate which is not really a modification my original rate was 5.99% when I bought my house and I passed for 2 adjustments. I tried to re-apply again but when I started the new process they sent me a letter that I didn't qualify. I called after I received the letter and they told If I don't get that option Chase is going to increase my rate again, and to put my house in short sale or sent my keys by mail. I never had the intention to put my house in short sale or going in to foreclosure. Last year I spent all my savings in my house, I sent all my payments on time but they didn't care at all. I think Chase is not trying to help the homeowner at all. Is the worse experience that I had in my life. I started my loan modification on November of 2007, since that time I been calling Chase every other day.
On March, 2008 I called and they told me that they lost my file (all the people over there treat me very bad finally one told me to send my keys by mail). I submitted my aplication again and on April they approved at 8% interested rate which is not really a modification my original rate was 5.99% when I bought my house and I passed for 2 adjustments.
I tried to re-apply again but when I started the new process they sent me a letter that I didn’t qualify. I called after I received the letter and they told If I don’t get that option Chase is going to increase my rate again, and to put my house in short sale or sent my keys by mail.
I never had the intention to put my house in short sale or going in to foreclosure. Last year I spent all my savings in my house, I sent all my payments on time but they didn’t care at all.

]]> By: Federal Loan Modification » Blog Archive » Countrywide Workout Department http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-8286 Federal Loan Modification » Blog Archive » Countrywide Workout Department Wed, 14 May 2008 22:07:43 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-8286 [...] Clinton Writes Paulson a Letter and Asks For 90 Day Ban on Foreclosures [...] [...] Clinton Writes Paulson a Letter and Asks For 90 Day Ban on Foreclosures [...]

]]> By: Federal Loan Modification » Blog Archive » Clinton Writes Paulson a Letter and Asks For 90 Day Ban on Foreclosures http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-8285 Federal Loan Modification » Blog Archive » Clinton Writes Paulson a Letter and Asks For 90 Day Ban on Foreclosures Wed, 14 May 2008 21:55:19 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-8285 [...] Clinton Writes Paulson a Letter and Asks For 90 Day Ban on Foreclosures [...] [...] Clinton Writes Paulson a Letter and Asks For 90 Day Ban on Foreclosures [...]

]]> By: ;V http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2379 ;V Fri, 09 May 2008 00:48:44 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2379 I hear all of you. I have been sending paperwork to everyone one at the san diego office and this has been going on since january. the title company just sent me a note that they are going to auction my home in 15 days and now chase tells me i need to send in paperwork again. this will be the 6th attempt to get the modification even looked at. i do not know what to do. i guess the guy up there says it took him 3 months, well i am almost there but.....my house is in foreclosure. I hear all of you. I have been sending paperwork to everyone one at the san diego office and this has been going on since january. the title company just sent me a note that they are going to auction my home in 15 days and now chase tells me i need to send in paperwork again. this will be the 6th attempt to get the modification even looked at. i do not know what to do. i guess the guy up there says it took him 3 months, well i am almost there but…..my house is in foreclosure.

]]> By: chuck http://loanworkout.org/2007/12/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2380 chuck Thu, 01 May 2008 12:35:29 +0000 http://loanworkout.org/2007/12/03/clinton-writes-paulson-a-letter-and-asks-for-90-day-ban-on-foreclosures/#comment-2380 I have been working with Chase for about 3 months on a Loan mod. and can't say a bad thing about them. They have been friendly, polite and very reassuring. These people truly seem to care and understand our situation. When I get as busy as they are I can be a real jerk. They have never once made me feel like I was annoying them by calling to check the status of the mod. or with questions that they probably have to answer 200 times a day. My mod was approved yesterday and paers were sent fed ex. I have not received them and dont know the terms of the workout, but even if they are not what I want, I certainly can't complain about the service. I have been working with Chase for about 3 months on a Loan mod. and can’t say a bad thing about them. They have been friendly, polite and very reassuring. These people truly seem to care and understand our situation. When I get as busy as they are I can be a real jerk. They have never once made me feel like I was annoying them by calling to check the status of the mod. or with questions that they probably have to answer 200 times a day. My mod was approved yesterday and paers were sent fed ex. I have not received them and dont know the terms of the workout, but even if they are not what I want, I certainly can’t complain about the service.

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