Comments on: Bank of America Buys Countrywide for $4 Billion

By: Arthur

Arthur — Sat, 14 Jun 2008 23:02:00 +0000

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: CIRILO

CIRILO — Fri, 06 Jun 2008 00:38:24 +0000

I HAVE BEEN TRYING TO MODIFY SINCE JANUARY. I GET THE SAME RESPONSE EVERY WEEK. THEY TELL ME MY LOAN IS UP FOR APPROVAL AND WAITNG FOR MANAGER TO GIVE FINAL APPROVAL. THIS IS BETTER THAN THE RESPONSE OF ITS IN THE UNDERWRITERS DEPARTMENT. I GOT THAT RESPONSE FOR 3 MONTHS. IT IS TOTAL BULLCRAP. MY HOUSE HAS A SALE DATE ALREADY AUG 10. I JUST FEEL LIKE IM GETTING NOWHERE. JUST BE HONEST WITH US WE HAVE ENOUGH STRESS IN OU LIVES WITHOUT HAVING TO WONDER IF YOU ARE GOING TO LOSE YOUR HOME.

By: Kitty

Kitty — Wed, 04 Jun 2008 14:06:02 +0000

Hi, I am in the same boat, fell behind due to excessive car repairs & medications that run over $800.00 a month for the months of Jan, Feb, March (over $4000) (when locked out of my insurance for 30days when they decided to raise my premuim for my child form $15.00 a month to $58.00 after 4 yrs) for my special needs Child. In Feb My payments went from 9% @ $710.00 a month to $800.00 a month and up @ 11.25%! Been trying to get someone on the phone with my CCCS with a conference call, all we got were people talking casual conversation in the backround no picking up the phone/headset,(Is this thier way of how thier reps work?) tried a total of 4 times yesterday to no avail, I am behind 3 payments, single parent,(only income) and have yet to find a way try and keep my home, Haven’t given up yet though! I have been with Chase since 05 and with late payments and inquiries (trying to find a fixed rate for over 1 1/2 yrs) my credit score has gone wayyyy down. Is there still hope with Chase? All of our local offices here in GA have closed. Please any advice would be greatly appreciated! My Home is the only thing I have been able have to call my own for me & my children, I have come along way from an abusive marriage to a homeless shelter to working my way hard up a corporate ladder to get my home not for it to be taking away.

By: Paul Cantone

Paul Cantone — Fri, 30 May 2008 15:31:20 +0000

I agree with Katiana 1000%. The people running chase are ignorant scumbags who are just plain DUMB when it comes to this crisis we are experiencing with the housing crunch.

I owe a first mortgage of $320K and a home equity line of $200K thru Chase at an average of 7% interest. I needed to make a decision BEFORE I get bad credit so I called the “experts” at Chase and explained to them my situation. I told them I was NOT behind at the moment but very soon I will be. I told them that the easy way to solve my financial crisis was to do what most people are doing in my situation which is to WALK AWAY! I told them at Chase that if they could modify my present home equity loan with them, NOT WRITE IT OFF, just give me say 1 year with 2% interest only so as I could sell the house and NOT LOOSE MY GOOD CREDIT, then I could do this! THEY REFUSED, PERIOD. They told me in order for them to even consider any modification, I would need to be in default. SO GUESS WHAT CHASE??? I now I am behind 2 months on both my 1st mortgage of $325K, as well as your $200K mortgage which will certainly be wiped when the home finally gets forclosed and sold eventually for about $250K.

I sincerely hope you “bankers” get an understanding as to how NOT to treat homeowners in my situation. YOU IDIOTS LEAVE US NO CHOICE BUT TO WALK AWAY……………….

By: KATIANA CADENA

KATIANA CADENA — Thu, 29 May 2008 02:39:58 +0000

I feel the same way I spent over $57,000 paying on time my house last year.

I wait 7 months for my loan modification finally they approved at 8%. My initial rate was 5.99% This is not really a help I think the person who said that Chase is helping the homeowner is completly wrong.!!!!!

By: lookslikeforeclosure

lookslikeforeclosure — Mon, 19 May 2008 07:21:44 +0000

Seems that people who asked for Load Modifications from Chase Home Finance after January or February got their cases processed more easily.

Its too bad Chase needed guinea pigs.

My case:
$3700 monthly payment included taxes, HoA, and mortgage (no escrow) on $370k.
Next month, interest goes from 6.75% to 9.95%, monthly payments totals $4400.
Even with a load modification to 5% 30-year fixed, monthly payment best-case would be $3200
Should I rent a place for $1500 before my credit is wrecked, dump the home?
You bet.

Here you go Chase, another home back in your filthy hands.

By: moonbreezer

moonbreezer — Fri, 09 May 2008 16:19:20 +0000

HEY TO ((Trish Loya ))
HERE IS THE NUMMBER I USED AND SOMEONE ANSWER
(877-838-1882)) HAVE AN EXT NUMBER 53345 DONT KNOW WNY
NOT THE SAME PERSON ANSWER ON THAT EXT BUT GOOD LUCK
HOPE U DONT GET FUCK LIKE I DID

By: moonbreezer

moonbreezer — Thu, 08 May 2008 23:13:26 +0000

Know how some of us feel!! with this modification loan
been trying since oct/07 mailing overnight papers faxing calling
and waiting this week was the last draw… NOT that i have a big loan my loan is 78,000.00 on a arm 10.625 wanted to lower the monthy payment lost my job and with the coat of living so high it was hard to pay the mortgage when u have two childrens it hard,,,,, Well anyway got a letter today of the modification
they lower my ARM to 9.625 making monthly payment $52 lower THANK U CHASE FOR NOTHING

By: shelly morrison

shelly morrison — Thu, 01 May 2008 17:22:56 +0000

Chase remodification dept is a joke!!! We went through there whole remod process. Then waiting, then finally, months later approval. Well, our initial payment was at $4,000. We fell behind a couple months. Chase agreed to HELP us save our home. They agreed to remodify, and forgive past debt to them after 1 years consecutive pmnts. we agreed. We just recieved our pmnt arrangements 3 weeks ago, $8,000 a month for 1 year, no negotiation. What? They doubled it?? we’ve called and called everyday for 3 weeks. No one answers, no one calls us back, on and on!! We will be forced to forclose!! was this their plan after all?

By: Trish Loya

Trish Loya — Thu, 01 May 2008 14:45:21 +0000

Does anyone have a decent phone # for the Loand Mod Dept.? I have 888-311-2703, the ext I was given never answers and I leave multiple phone messages and never get a return call. I am so frustrated!