Comments on: Lender Loan Modification Lip Service Part 2: Senator Schumer Says It’s All BS http://loanworkout.org/2008/11/lender-loan-modification-lip-service-part-2-senator-schumer-says-it%e2%80%99s-all-bs/ Loan Modification & Home Loan News Thu, 18 Mar 2010 09:44:57 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Lily http://loanworkout.org/2008/11/lender-loan-modification-lip-service-part-2-senator-schumer-says-it%e2%80%99s-all-bs/#comment-18141 Lily Sun, 22 Nov 2009 10:10:44 +0000 http://loanworkout.org/?p=1261#comment-18141 Kudos, Moe - you called it. Almost a year later, and this is exactly what is happening. Banks are dragging their feet, stalling and doing whatever possible not to approve and implement loan modifications for struggling homeowners. Investors are also balking at loan modifications and refusing to sign off. The banks were given billions of taxpayers dollars to modify home loans and improve our economy. Looks like we just got ripped off big time - AGAIN. Kudos, Moe – you called it. Almost a year later, and this is exactly what is happening. Banks are dragging their feet, stalling and doing whatever possible not to approve and implement loan modifications for struggling homeowners. Investors are also balking at loan modifications and refusing to sign off. The banks were given billions of taxpayers dollars to modify home loans and improve our economy. Looks like we just got ripped off big time – AGAIN.

]]> By: Bonnie Ember http://loanworkout.org/2008/11/lender-loan-modification-lip-service-part-2-senator-schumer-says-it%e2%80%99s-all-bs/#comment-15383 Bonnie Ember Wed, 24 Jun 2009 23:09:18 +0000 http://loanworkout.org/?p=1261#comment-15383 Good luck with getting a mortgage mod through with Chase Bank. I have been waiting 4 1/2 months & getting the smoke & mirrors, too. There isn't a Banking Emergency, stripping us of all our Civil rights. Chase expects to net $29 Billion Dollars off of, new accounting rules, from the "bad" mortgages they got from Wa Mu. Why aren't we getting our loan mods? Chase would rather pay someone to call you 3 times a day, then give you the 1.9% interest rate they offered you, & then told you to do your taxes. Once your taxes were done, you were: "Too Late." I am getting ready to hire a lawyer. (We are giving them back an investment property that we cannot rent out because of all of the homes that are being sold in California for a mortgage payment of half of what our rental is, & losing about $100,000 in our downpayment on this property.) I am not going to let JP Morgan Chase steal my Primary home. Sincerely Bonnie Ember Good luck with getting a mortgage mod through with Chase Bank.

I have been waiting 4 1/2 months & getting the smoke & mirrors, too.

There isn’t a Banking Emergency, stripping us of all our Civil rights.
Chase expects to net $29 Billion Dollars off of, new accounting rules, from the “bad” mortgages they got from Wa Mu.
Why aren’t we getting our loan mods?

Chase would rather pay someone to call you 3 times a day, then give you the 1.9% interest rate they offered you, & then told you to do your taxes.
Once your taxes were done, you were: “Too Late.”

I am getting ready to hire a lawyer.

(We are giving them back an investment property that we cannot rent out because of all of the homes that are being sold in California for a mortgage payment of half of what our rental is, & losing about $100,000 in our downpayment on this property.)

I am not going to let JP Morgan Chase steal my Primary home.

Sincerely

Bonnie Ember

]]> By: Nicole Yancey http://loanworkout.org/2008/11/lender-loan-modification-lip-service-part-2-senator-schumer-says-it%e2%80%99s-all-bs/#comment-14883 Nicole Yancey Fri, 22 May 2009 16:38:11 +0000 http://loanworkout.org/?p=1261#comment-14883 I am in the process of the mod mortgage and I have been getting the run around. I was told not to make a payment on my mortgage because it would disqualify me and I am now 2 payments behind. What puzzles me the most is that I went to Chase bank and they told me to call the main branch and so I did in april it is now May almost June and I still am no where with this. Not for the lack of calling persistantly. I have been told one thing by this person and one thing by another none of whom speak with the other department or know what the others department have said or what they even do. So now I am getting the " well I don't know or that is funny that they would tell you that I feel as if they are trying to mess me around to the point that they take my home. When we have worked very hard and have three little girls to take care of. We lost alittle money in our job situation and we just needed a little help Now I am still being charged late fees and I am 2 payments deliguent. Because someone from Chase told me not to pay and I listen to instructions. I could loose my home because of all the LIP SERVICE I wish I could contact Jamie Dimon, Chairman and CEO JPMorgan Chase & Co. and tell him that I think that it stinks when you call and try to get help and they say there is some but you continually get the run around. I can pay my mortgage I just needed alittle help to also live from month to month. Please make sure that if you are wanting to mod your mortgage that if it sounds to good it is. I am in such a dire straight right now. We are in our 30's with good jobs and our mortgage company has just ruined our credit and who do you tell about it? Thank you for listening.. I am in the process of the mod mortgage and I have been getting the run around. I was told not to make a payment on my mortgage because it would disqualify me and I am now 2 payments behind. What puzzles me the most is that I went to Chase bank and they told me to call the main branch and so I did in april it is now May almost June and I still am no where with this. Not for the lack of calling persistantly. I have been told one thing by this person and one thing by another none of whom speak with the other department or know what the others department have said or what they even do. So now I am getting the ” well I don’t know or that is funny that they would tell you that I feel as if they are trying to mess me around to the point that they take my home. When we have worked very hard and have three little girls to take care of. We lost alittle money in our job situation and we just needed a little help Now I am still being charged late fees and I am 2 payments deliguent. Because someone from Chase told me not to pay and I listen to instructions. I could loose my home because of all the LIP SERVICE I wish I could contact Jamie Dimon, Chairman and CEO
JPMorgan Chase & Co. and tell him that I think that it stinks when you call and try to get help and they say there is some but you continually get the run around. I can pay my mortgage I just needed alittle help to also live from month to month. Please make sure that if you are wanting to mod your mortgage that if it sounds to good it is. I am in such a dire straight right now. We are in our 30’s with good jobs and our mortgage company has just ruined our credit and who do you tell about it? Thank you for listening..

]]> By: Russell Mayes http://loanworkout.org/2008/11/lender-loan-modification-lip-service-part-2-senator-schumer-says-it%e2%80%99s-all-bs/#comment-12542 Russell Mayes Mon, 02 Mar 2009 05:11:30 +0000 http://loanworkout.org/?p=1261#comment-12542 It is interesting to me that almost half the loans do not qualify for fannie or freddie because they are conventional. Also when the bank did subprime they did it as 80-20 split and the seconds do not follow any rules and block all modifications so the most of the bailout is smoke and mirrors and nothing will help the people as promised! but they will give billions to the banks to make them government owned. It is interesting to me that almost half the loans do not qualify for fannie or freddie because they are conventional. Also when the bank did subprime they did it as 80-20 split and the seconds do not follow any rules and block all modifications so the most of the bailout is smoke and mirrors and nothing will help the people as promised! but they will give billions to the banks to make them government owned.

]]> By: Russell Mayes http://loanworkout.org/2008/11/lender-loan-modification-lip-service-part-2-senator-schumer-says-it%e2%80%99s-all-bs/#comment-12541 Russell Mayes Mon, 02 Mar 2009 05:05:46 +0000 http://loanworkout.org/?p=1261#comment-12541 What interests me most is that almost half the loans are conventional loans and do not fall under freddie or fannie also on the 100% finacing the second has to also approve the loan and they also do not have to follow set rules. So this is all smoke and mirrors and the people are eating it up just as the sub primes that were given out that started all this. What interests me most is that almost half the loans are conventional loans and do not fall under freddie or fannie also on the 100% finacing the second has to also approve the loan and they also do not have to follow set rules. So this is all smoke and mirrors and the people are eating it up just as the sub primes that were given out that started all this.

]]>