Chase to Offer $1.1 Trillion in Loan Modifications

chase-building1Great news for Chase borrowers! You “may” now have the most loan modification friendly lender in the country.

Chase announced Friday that they plan to modify a whopping $1.1 trillion in loans it services that tied up in securitizations (AKA Mortgage Backed Securities or Investor Owned Loans). They also plan to include a dash of mortgages in its  own loan portfolio .

“Chase believes it can legally modify the vast majority of its mortgages owned by investors consistent with the relevant investor agreements and the best interests of investors,” Chase said in a statement. They mentioned in a statement to the press that they would need to seek a small amount of approvals for modifications in which the investor requires verification

Chase claims  that they will hold face to face meetings with strugling homeowners in local communities hardest hit by the foreclosure crisis and work in conjunction with local non-profits and organizations. They plan to add staff to assist borrowers with loan workouts in their neighborhoods and will not put any loans into foreclosure as it installs the loan modification program over the next 90 days.

The loan modification program will also be offered to borrowers with mortgages held Washington Mutual and EMC. Chase acquired WAMU last month after they became the largest bank to implode in US history. EMC was a former mortgage arm of Bear Stearns. Chase gobbled up the Bear in February.

Chase claims that their loan modification program may help stop foreclosures on an estimated $70 billion in mortgages and save approximately 400,000 families from foreclosure. Chase said it has already modified $40 billion in mortgages and assisted approximately 250,000 customers since early 2007.

Need help with Chase? Well I got some right here for you!!

Do you want to meet other Chase borrowers just like your self and see what they have done to get a loan modification? I’ve got you covered!

Come join and meet Cat Damiano, your friendly forum moderator who has saved her home with Chase and is helping other like you to get loan modifications for free.


146 Responses to “Chase to Offer $1.1 Trillion in Loan Modifications”

  1. Moe Bedard says:

    Are you being screwed by Chase? Are you being used and abused during the loan modification or short sale process and want to know your rights?

    Read this for help!

  2. Angel Torres says:

    I went Chapter 13 in 07. i would like to get a loan modification i currently have a variable and is at 8.5 my payment went from 1984.00 to 2391.70 i need help what can i do.

  3. Andrea says:

    Too bad it didn’t play out as it appeared in this post, Moe. :)

  4. cam c arey says:

    working with chase has been the biggest nightmare i have ever experienced, and that includes two heart surgeries! This article is bogus…………………

  5. Karen says:

    We filled out papers with Chase back in May, and to this day have never herd any thing from them, we call, they put us off, Who ever wrote this was on crack, and worked for Chase

  6. Cristina Moreno says:

    I have been working on a loan modification through Naca a non profit organization. The modification was submited to Chase in April of 2009, we are now going on the eight month and all we get from Chase is that they need more time to review our file. I call at least once a month and i always get the same answer. I don’t believe in this article, i have lost all hope.

  7. Cheryl Kirby says:

    I started my loan modification back in July , with Washington Mutual Bank at that time we were corresponding. However, I had to resend/fax documents over and over again(same docs) I spoke with several different cust. service reps. At last!!!, they received all my documents. The next step I was advised it would go to the underwriting department. In the mean time Wamu changed to Chase and that’s when ALL communication went down hill.Every month and sometime twice a month I would check and the same story. (It’s still in underwriting) One cust. service rep. advised me that they would send me a letter stating the amount that was approved and I had an option to except or decline. )Here it is in December and they just told me(Dec 4th) , when I spoke with a Chase rep. that they could not help me based on my hard ship letter. I never talked with a loan counselors, and LO or anyone. The cust. service rep. said they did not see the need. I am 2 months back and “they don’t see the need”. I tried to be proactive back in July to let them know of my situation but they seem to be reading a script…because they ALL ask the same questions. Now they have ask me to re-submit my loan modification docs. The rep. said they had a faster process now…I have more of an hardship now because it has been over 6 months…..Well!!!! I don’t have a choice but to re-submit, On December 7th Chase sent me a letter stating I am in danger of damaging my credit and perhaps even losing my home.

  8. Cheryl Kirby says:

    I started back in July 2009 with Washington Mutual Bank, submitting all the requested documents. However, I had to resend/fax the same documents over and over. At last!!! They received ALL my documents, and they advised me my case would go to the underwriting department. I spoke with several customer service rep. and they continue to state my paper work was in underwriting. In the mean time WaMu transition to Chase and that’s when ALL communications went down hill. Each month, when I spoke with Chase cust. service rep. they would say the same script. First I would have to identify I was a WaMu customer, I asked if I could speak with a counselor or a loan officer. He said they would send me a letter stating what range they would approve and I had an option to except or decline. Here it is in December, and talking with another Chase rep. they said…on December 4th, you were decline. I asked why, based on my hardship letter. He said re-submit your loan modification docs, once again, because they had a better and faster way to get back with me. Six months ago I tried to be proactive now it’s where I’m not sure where to turn.
    I NEED HELP . On December 14th, I received a letter from Chase stating I am in danger of damaging my credit and perhaps even losing my home. At the end they said…”Thank you. Our loan counselors look forward to hearing from you soon”. I called today on December 15th, guess what????They said all my documents were out of the system, as if it was not an issue for them. I have no other choice but to start the paper trail and re-submit……I truly need help……

  9. Dawn Wylie says:

    Sounds like the same (almost) as the run around with USBank.
    I truly believe they would rather foreclose. Sadly they are loosing so much. My house isn’t worth any where’s near what the mortgage is. Unfortunately I need my home for income and it will be work to move it (a childcare) but I can’t do anymore than I’m doing. Foreclosure costs them big bucks. I don’t get it, if someone can fill me in? The bank’s are loosing…… Oh well another bailout I guess?

  10. Michael Mayernick says:

    Wow!! Why are all the nightmares exactly the same. Cheryl Kirby, you are not alone. My nightmare is EXACTLY Like yours.

  11. Betty Hagan says:

    I received my loan modification at the end of October. Maybe I am dumb but I kept waiting for my bill to reflect the change. All the bills received were for the higher interest rate. Last week December 17th I received a call from their collection department about why I was late in making payments. I told them I had not received a bill and did not know where to send the payments. I was informed that if my full payment was not received by the end of the month that foreclosure would happen in January. I called the next day and talked to the representative (by the way the numbers given are for collection services – not bank mortgage reps). I was told that most of my paperwork was completed but not all. Then was transferred to the farm loan dept where the rep there told me that once my modification papers came through I was suppose to begin making payments. She asked if I could look at page 4 of 5 and I told her I only had pages 1 of 4 (evidently not the same documents). Anyway, to make a long story short, once you receive the modification package (even though not approved yet) you are expected to begin making payments and catch up on the accrued amount. My modification was approved for Sept 1 I received the mod papers on October 16th. Anyway, I am back where I started and just wanted you to be aware that once you receive your papers and have them notorized to begin making payments. The rep also told me that I was suppose to get a real estate lawyer to read the paperwork and clarify.

  12. Michael says:

    I am a retired finacial planner and have helped dozens of my clients, neighbors and friends with applying for modifications. These are my personal observations. Lately we have noticed that sericers are sending out leters offering trial payments in an attempt to qualify homeowners for Making Homes Affordable. these letters are being sent to homeowners who in some cases have been recently modified and the new rate is more affordable than the original. I am not sure these offers have been srutinized by the lenders andi believe it has the potential to mislead homeowners who reply in good faith. it looks like homewners will be reported late on thier credit report even though they pay the trial on time. also based on the standard letter the servicer will apply payments to deliquient amounts only when there is enough to pay in full.
    I see many instances where the trial period goes on long after the initial trial because the lender or servicer in unable to complete thier end of the paperwork. it appears like there is cause for concern here because ther may be many homeowners who pay these trial payments for many months only to find there credit scores trashed and money went to pay late charges and penalties leaving them no closer to an affordable solution than before.

  13. Lynn says:

    I just got off the phone with chase……ahhhhh! What a nightmare!! I have been applying for the loan modification since May 2009, last month they told me I was approved and that they would send me a letter once it was finalized. So I called this month since no letter came and they told me that they had closed my file since they needed me to re fax all my paperwork from June, this is the third time I have re-faxed!! They stated they had sent me a letter, ha I have every letter and conversation documented. To top it off they told me that they might re-modify but it would affect my credit every month, I have never even been late on a payment no matter how much I sacrifice to make the payment. This article is ridiculous!!!

  14. Jennifer says:

    We filed our loan modification back in March 09 and until it has gone no where. Just like most people, we had to re-submit our paperwork over and over again until they finally said it was done. After that, we have been calling them at least twice a month, if not more but again we either got transfered back and forth until the call got drop off, or they told us to call back for status the 72 hours. Our experience with Chase has been our worst nightmare. This article is plain BOGUS! I’ve lost hope and don’t believe that Chase will ever help the homeowners like us.

  15. Chris says:

    Has anyone been successful with a loan modification? I can’t even get Chase to send me the packet. I have tried two times, and one time they sent the material and not the application to fill out. When I followed up for the additional information, nothing ever arrived. I suspect they are playing politics by putting on the right face for the media and public, but behind-the-scenes they do not want to modify.

  16. TAsh says:

    CHASE have been paying the government to bankrupt the people and make Chase Rich. They gave 4 billion in loans at low interest to CA government to keep quiet on the action/inaction that Chase is taking on it’s people.
    Government and the media doesn’t raise any noise…

  17. Patricia says:

    My husband & I have been involved with the Chase loan mod. program since March 2009. A total nightmare!! Same story, send & resend documentation. Seldom speak with the same person twice. Inconsistences, missing paperwork, etc. I actually had a nervous breakdown over all of this. We never paid a late fee for anything in over 40yrs and paid off all credit card bills in full each month. Now, we have been rejected by Chase and our credit has been trashed and we have no idea why. We paid all of our modification payments in full and on time. Our previous FICO score was over 800!

  18. Michael HAVEL says:

    My wife and I have been trying to get home mod since Feb 09. Our comments are the same as all of you. We were just told that this process would take another 30 to 60 days to update their files, Then our Docs will be outdated again. The process starts over and over. I think we should all write our senators, congress reps and even the president and the CEO of chase who wont get the letter and get the news media involved and see if we can move them in the right direction.

  19. Lynn Mitchell says:

    My story is the same old story I have read here. Today I finally called Chase and told them I was leaving on March 1st- my house will be theirs. After months of requesting loan modification and re-sending paperwork, I am giving up and moving in with family. I have made all payments on time and in full for many years and meet all the criteria but seem to be in the same sinking ship as all these other people. My home is upside down and worth exactly half at this point. They advised me to mail them the keys….interesting?

  20. Lisa Bielawski says:

    My heart breaks for each and every circumstance I have read. I have been either a science teacher or school administrator for the past 10 years. In June I received notice that my position was being abolished due to budget cuts. We have our mortgage with Chase. Simultaneously Chase added 500.00 to our current mortgage payment ( paid regularly for 1.5 years) stating they “noticed” a deficit in escrow? No prior our payment increased from 3,464 to 3,964 the same month I lost my position. Thankfully my husband still has his position, however, on Long Island, dropping to one income with three kids in college left us unable to make the regular payment, let alone the increased payment. We started the loan modification process in July and were notified our three trial payments would be close to what the reduced payment would be once approved for final modification 2,800. The 3 mos turned into 7 mos. During this time I am still unemployed and receive the maximum 405.00 weekly in unemployment. We faxed and resubmitted the same documents time and again. Every month we received late statements with no record, other than my bank statements, showing the reduced payments made monthly. Finally we receive the fedex with the final paperwork. I will not waste time including the hours and hours on hold, talking to representatives that had conflicting stories on the same day, and the emotional and physical impact this has had on our lives. I see we have all experienced the same incompetence and lack of decency provided by Chase. I open the FEDEX with trembling hands, tears of joy streaming down my face….yes the 2800.00 monthly will continue to be a struggle but we can remain in our home right??????
    Chase added over 21,000 to our principal increasing it from 354,000 to over 370,000, our monthly payment ongoing will be over 3,400 a month. 67.00 a month less than when we started this whole process. Mind you, it arrived stating I have 12 days to sign and return. I left 27 messages for the loan negotiator. Not one returned. I spoke to 9 chase employess in the loss mitigation office before one connected me to the negotiators supervisor voice mail. I left 6 messages with him without response. Finally another Chase representative emailed the loan negotiator internally and her supervisor. The negotiator finally called me. When I questioned her figures… we were given a drop in interest rate from 6.75% to 4.75% and yet the monthly payments were 67.00 less? She stated that we have a balance of 39,000 dollars due and that was the best they could do for us. When I got up off the floor…I asked her how we had a 39,000 past due amount when we have been making the required payments and had not been late at the onset of this process, she could not answer. 3 days and a nervous break down later,I contacted the executive office for Chase today at 3:00 PM EST. By 3:45 the negotiator called me and said that even though she knew nothing would change..she would have her supervisor( the one who did not return over 16 voice mail messages from me prior) look over the account!!! I have 4 days left to sign and return this modification before the whole thing expires. What Chase is doing to loyal, hard working and honest customers is criminal!!
    Anyone interested in a class action suit contact me ASAP!!
    Lisa Bielawski

  21. Gregory S. Granados says:

    The situations and circumstances I have just previewed are shocking to me!! Ithoght I was the only person going through these situations with chase.
    We, that is me,mw wife and my one and a half year old son have gone through just about every situation I just read.
    We have been trying to successfuly complete and finalize our loan modification since November 2008.
    The actual monthly loan payment itself has not been paid since june 2008 Chase recived all the necessary documents needed on january 4, 2009.
    It took me until april 2009 to finally find out who had my documents and if they would help me.
    I was approved for a loan modification,never recieved paperwork. After four months have past I get a letter in the mail saying I was in default for not adhearing to the arraingements set.
    Having already packed the house and moved to new living arrangements,I tried one more time to get ahold of a rep. To my suprise I did.
    Explaing the situation,the rep.had informed me she was the one that approved me , she stated to me now she is going to deny me!,FOR REASONS OF DEFAULT!
    My reply to her was; I never recieved the contract to adheare to thier agreement.Her reply; That thought never entered my mind; the possibility of the paperwoprk never arriving?
    I couldn’t believe my ears!!
    To conclude this lenghty sanario of mine,the wrong paperwork was sent;now for a third time starting all over with a new rep. the trick of getting a hold of them starts all ove again!
    This is my story, and it’s sort of nice knowing i’m not in this boat alone!
    If any comments for me,please feel free to send to my e-mail address.
    Thanks for listening;
    Gregory S. Granados
    Date; 1\12\10

  22. Paul Francis says:

    Wow, after ready some of these posts It confirms most of my suspicions about Chase. They are simply not interested in helping their customers and they don’t care if people lose their homes.
    I’ve been trying to get a loan modification through Chase for 6 months without any success at all. I’ve spent literally hundreds of hours on the phone, even had what sounded like, a group of young Chase operators laughing in the background while I was discussing my loan with a representative in their loss mitigation department. Since then, I’ve started to actually record every phone conversation that I’ve have with them.
    I’m on the phone right now with Chase and have been on hold for 40 minutes!!

    Count me in on join a class action suit!!
    Paul Francis

  23. Home Loan modifications are a “process”. This “process” is unique to each bank – it is a secret from the consumers. It is about your: finances, your NEED for a mod, your hardship, your paperwork, and that bank’s idiosyncrasies of their “process”.

    Yes, banks have approved mods to consumers; the most recent statistic I found was 4% of all mods filed directly by homeowners have been approved since last Fall. It is possible.

    As Moe points out you may wish to contact an attorney or an accountant. You may also wish to contact a mitigation firm who has licensed attorneys & mitigators who negotiate with your lender. We have successfully mitigated thousands of loans & we deal with Chase weekly.

    Feel free to contact me directly

  24. Neal says:

    I’m past my one year anniversary!!!!…….By the way, all of my calls have been recorded for “quality assurance purposes”….Yes, my friends, “quality assurance”….I can assure you that NOBODY has ever listened to my calls, your calls, or anyone else’s call……if they did, they’d be mortified. I imagine them sitting in a room and laughing at our calls and pleas…..You know, they’re eating lunch, playing the calls back, laughing and giggling at the misfortunes of all of the souls and lives affected by this calamity.

    I started this process in late 2008. After many multiples of data submissions, check stubs, etc, I was approved for a “trial modification” in May of 2009-7 months after I first contacted them for help….Conditioned upon three months of on time payments, I was told it would result in a “permanent” modification…I made the required payments for three months-ending in 7-09…..came home to a notice that my “modification was in jeoprody” fed x letter in 8-09. It indicated that my documentation was outdated AGAIN!..for the third time…I submitted it again… calls, no emails, no response from Chase whatsoever. Then another letter fed x’d that said I’d need to resubmit…….Then a miracle phone call came, “your modification has been approved”…..over one year and 5 submissions of my hardship package later….I was promised the “final” paperwork and modification documents in two weeks….Two weeks went by, no docs, more calls to various unanswered extensions. Then finally another call and a “promise” that my documents were to be issued in the next week…..nothing again………..NOW, one year and two months later, as of today, I was notified that there is a “system update” taking place, which will push back the documents being issued for ANOTHER 6 weeks!…………So, my friends, you can conclude that Chase and their merry band of uncaring, lying, incompetent, stupid, callous, and non empathetic clowns are busily working on “fixing” their ability to actually issue modification documents once they’ve been approved…..I’ve been assured that I won’t need to resubmit my hardship documents for the sixth time, but I’m not betting on it……would you? Good luck to all of us on the lottery odds of getting Chase to do anything…..I’m soooooooooo frustrated that all I can do is laugh, because its easier than crying…..I feel for each and every one of you that has had to experience a once in a lifetime (because that’s how long it takes) event, which has been so mishandled by Chase,it defies description! I’d like to submit a new word for “websters dictionary”…..”chased”………..In the past, we might have said ignored, or “shined on”, but I’m now using the word as………Hey son, you need to clean your room, don’t chase me! or; “We went to the restaurant, our waiter never came to our table, we were “chased”"……….Good luck, we all need it and then some!

  25. Chris L. says:

    Reading this thread makes me sick. I am so glad that I’m not the only person going through this. We are going on our 8th month with the trial period. Like all of you, we re-faxed and contacted Chase weekly. We suffer with the transition from WAMU to Chase of lost documentation, lost communication,… etc. This nightmare will continue unless somebody higher can here our message to the Chase Bank.

    Let it be known to the Editor of this article to raise this issue to a bigger problem. Or some, higher congress member.

    In my opinion, the bank reviews one thing in this whole process. That is,… “What would best benefit the bank if the loan was to be modified or customer to go into foreclosure?” The way I see it, the Bank wants you to foreclose that way they don’t have to adhere to the investor ties to the note. Only if the foreclosure is a bigger lost to the bank/investor is when a loan modification will be approved. The plain fact that a “foreclosure” relieves of all ties of the note in terms of investment. Then, the banks can still resell the home with a new investor. This gets the bank out of the RED and moves on to the next trouble mortgage.

    The only possible way to get through this is to answer yourself the question, “Is it worth your time, effort, and lifes?” It is the banks and investors that put us in this situation. We just need to make the change and be free of this problem.

    In my honest opinion, the investors and bank will not give in to the people. They will only protect themselves. We must do the same.

  26. Neal says:

    Just an update………went to the branch to pay my 9th “trial period” payment today(no coupons or otherwise provided, other than the first four months), per the instructions of my loss mit contact- because of the “delay” on their ability to issue my final mod documents. The branch “refused” to accept my timely trial mod payment, referred me to the 800#, which I called. The representative on the phone stated that she could take payment over the phone. She stated there would be a $20 fee added because of the bank by phone charge. I called my loss mit contact, she responded immediately and was able to waive the $20fee…I literally had my cell in one ear and the other phone in my other ear…..Once she confirmed that they would waive the fee, I started to give the payment information, and guess what………well you win if you guessed “we can’t accept your payment”……..So, as all of you have heard on the chase recording “Chase is a debt collector, anything you say may be held against you” rhetoric…..I immediately called my loss mit contact (who has been very proactive since her involvement)…..she too, could not understand why “they” couldn’t accept my payment…..I politely asked how, if ever, could I make my payment? Now, I’m fearful that Chase will somehow cancel or withdraw my “final approved modification” because I didn’t make my payment on time”………what are the odds? Pretty high at this point…..Hopefully, I’ll be able to give them my money, somehow, somewhere, sometime…………….Hey look, I couldn’t make this stuff up!

  27. Lisa says:

    I work in the mortgage industry. I know for a fact how much that forclosures cost the bank. Not to mention “holding” costs (that is county taxes which they have to pay, and insurance).

    With that said, I myself used to work at Bear Stearns who was taken over by Chase. Being a loan officer, our business has suffered greatly over the last 2 years, so I am forced to start a modification myself due to my income being about 1/4 of what it was.

    The reason Chase is not willing to work with everyone is a few. (1) This whole loan modification is pretty new to most people. Chase had to ramp up by hiring people that have no idea how to do a loan modification, and its like the blind leading the blind. A friend of mine is an underwriter for them and there is absolutely no consistency from one underwriter to the next. (2) The biggest reason for not wanting to work with people is that through the bail out funds, the mortgage company is getting reimbursed for their losses by the Feds. So if that is the case….why would they ever even want to work with us? They have no reason to do so. Im afraid filing a class action lawsuit will be a tough one, as its like going up against the Federal govt. I seriously think Chase is telling the Feds that they are trying to work with people, but that borrowers are still defaulting after they are done. They get reimbursement from the Govt. for their losses, and thats all they needed.

    Nobody is holding them responsible for the workouts, as every case is different. So with no laws in place, no guidelines, and nobody knowing what the other person is doing, nothing is getting done. I got a phone number for a company out of AZ that is a HUD backed company that does not charge for loan mods and they are getting these done in about 3 months. So I am going to try that, versus working with them directly. They have employees that keep track of the banks, and report back to HUD on how they are doing.
    Hope this helps shed some light about what is going on in this crazy loan mod thing.

  28. Chris L. says:

    Thanks for this info. However, it has been over a year now and still banks don’t get their act together.

    The end is near for us and trying to fight for our home.

  29. Andrea Postell says:

    REport this to the FTC, I hear if they get enough of the same types of complaints the FTC will put pressure on them to do the right thing. Please report to the FTC, they have a online complaint system its very simple, just make sure you have the company name and info so you will be reporting the right person.

  30. Don B says:

    I am afraid to begin this process – my neighbors went through it with a different mortgage company before everything was in place – they were on the phone for 90days! They were approved with a 2 % mortgage rate for 9 yrs with it expanding up to 5% over that time period. IF this whole program with or without obama or chase is bogus – why don’t people just state that and get the forclosures overwith we can all live in the streets and eat dirt. (from someone here who has been unemployed since april and spending down my 401k to pay my mortgage!).

    America – the new third world country – I wonder if someone in a foreign land will start a charity to save us from our own stupidity!

  31. Kim says:

    We all have the same story…You provide all the documents and you get transferred from one department to the other. After 1 year waiting on my loan modification I was able to be “sweet enough” to get someone at Chase to feel sorry for me! I got the phone number to the Supervisor for my negotiator. The funniest part of this is for 1 year every time I speak with a Rep from Chase they say “Your negotiator is Andrea Gamble”. There is not one employee at Chase who can find a direct number or email for this mysterious person yet she is responsible for “approving” my modification. Apparently she faxed a request to my attorney for additional documentation that my attorney says she never received. When I called Chase back and spoke with another customer service Rep.. they said “Oh.. I see in the notes that we never received the confirmation when through”. I requested to be told what items where needed and promptly informed… I can’t tell you over the phone. We have to send it to you in writing. Finally after three days I was able to get someone to tell me what was needed on the 24th of December.. I received a letter from the infamous “Andrea Gamble” on December 28th saying my modification was rejected because I never submitted that requested documentation. The friendly supervisor of Andrea Gamble made her reinstate my request.. I was told from the supervisor to call Andrea that next Friday for an update.

    Shocking to say the least that when Andrea answered (she was obviously upset that I had her super’s number) told me that she was too busy and it would take another 30 days to review my package… are you kidding me after 1 year. I have sent this stuff some many times I keep it all clipped together and just stick in updated bank statements and pay stubs.

    I have kept amazing records of all the calls, the transfers and all the times I was disconnected. I will be sending an email to the CEO of Chase.. and I have gotten all the names of the board of directors. They will all get certified letters at their perspective companies… hopefully someone will pay attention since Chase is expected to foreclose on February 4th, 2010.

    It is appalling to know that upper management at Chase received bonus averaging $464k… yes that’s correct. Take that money reduce the principal on my loan/recast my payment and I will be happy.

  32. Chris says:

    After reading other people’s comments…I don’t know wether to laugh or cry. Same story, I am not going to repeat…but I am interested in seeing what phone #’s people are calling? I call roughly every other day…and have been doing that for the past 2 months. I normally call in to the 866-550-5705 phone #, but have recently started calling 866-665-1629 as well. Does anybody have an additional #? Anybody want to organize a time for all of us to call and flood their phones(like we have to organize that)

  33. Jon says:

    I’m on the same situation as all of you here. My heart goes out for everyone who’s been through this so call “Chase” go to hell. It has been more than 6 months now, calling and following up with all the documents, etc. It’s just never get old. oh btw, i used this phone number to call chase 1800 848 9380. ANd everytime i call them, the same answer. it’s like they reading same script. “oh, our negotiator is working on it right now, and waiting to be approve…blah blah blah blah blah!” “you should receive some document in your mail the next few days” and then i waited, and waited, and waited. Nothing!
    call back again, and sometime if you speak to the person who’s english is not their first native tough, i find that every difficult to talk to. They wouldn’t really want to hear what you try to explains to them. They’ll be like “just send the stuff i ask you to, OK?” Well, hello? didn’t i just told you that i already send it like a week ago?

  34. Connie Disbrow says:

    My husband and I have been going though the nightmare with Chase too. We began OVER A YEAR AGO when I lost my job. We called Chase and requested that we be put into the loan modification program on January 19, 2009, or thereabouts. It took about 5 months of calls, calls and more calls, and faxing, faxing and faxing of the same documents, over and over to different numbers, to finally reach someone who checked to see if we were qualified for the Make Home Affordable program. This Chase rep did this once we said we were out of money and our payments were going to be late! Fast forward… in July we made our first trial period payment under Obama’s plan on each of our 3 loans with Chase. We made a total of 4 trial period plans to Chase for each of the 3 loans, and the last of the payments were made in October 2009. At that point, our contact at Chase (we actually found someone to deal with for awhile until he disappeared from the scene) ADVISED us to DISCONTINUE MAKING ANY PAYMENTS until we received our closing documents for the modified loans. We were advised that we no longer had accounts to credit our payments to and if we sent in payments they could not be credited to our loans because of this. Again, we were ADVISED BY LOSS MITIGATION to make NO FURTHER PAYMENTS until we received our paperwork. The first batch of paperwork on one loan was incorrect, so it had to be returned to underwriting for correction. The paperwork for our main mortgage was never received, nor was it prepared in time for our FIRST PAYMENT DATE of November 1 under the new loan mod we supposedly had. Because their paperwork dept. did not complete the paperwork in time for the Dec. 1 payment, that loan had to be returned to underwriting as well, to re-do payment amounts and due dates, etc. We were still ADVISED by Loss Mitigation to NOT MAKE PAYMENTS until we received our paperwork. They couldn’t even tell us what amounts to pay, if we still wanted to send payments in. They just told us that we should wait for the paperwork to begin our payments on the due dates specified in the paperwork. We STILL HAVE NO PAPERWORK, and Chase’s COLLECTION DEPT. has been calling us daily, telling us that we were to continue making payments all along, despite what Chase’s LOSS MITIGATION DEPT. has been telling us. Loss Mitigation has told us that according to their file, WE HAVE NO PAYMENTS DUE RIGHT NOW, and again, to wait for our closing documents. The Collection Dept. however is now getting ready to charge off our mortgages and issue FORECLOSURE PAPERS, since Feb. 1 will be three months of no payments and at that point, they can start foreclosure proceedings. We are caught between a rock and a hard place. I honestly believe that Chase is doing this intentionally because they want our 26 acre parcel of land in an up and coming, developing area. I believe they want to foreclose and have back-doored us to get their hands on the property much in the way Ocwen has been doing to their customers too. We have just hired attorneys to tackle Chase and their dirty dealings, but I’m no longer confident in the firm we chose and am looking to replace them. If anyone has attorneys they can recommend, please do. I am so glad to find this site and see how many other Chase customers are going thru the same stuff.

  35. jeana says:

    After 1 1 /2 years refaxing resubmitting calls being forwared to other depts bad phone numbers same song and dance I had paid 8 trial payments on time finally got a final loan mod; But I also wrote and any other office I could think of. I am thanful but at the end of all of us I am now underwater with all of there fees and add ons. My payment is cheaper yes, but I don’t think I will ever be able to pay off my loan. So really I am just renting, and very ruined credit. So I guess it did save my home but I am more in debt now than I was before. I wish you all well. Sometimes I wish I would of just let them have it. Banks do not want to do loan mods. The govt let them have the power to decide if it was a financial benefit for the banks or not. Again the banks are in control. As we all well know. After getting final loan docs I receiced a letter stating I had to send in 4506-T. Which I already had done 3 times before. Always something they do that to stall and they can say to the govt we are not in compliance with the program. it is set up for you to fail and the banks can say they are not following the programl I would love to see the banks have to credit all of us the fees and all the add ons they came up with back to us. Will never happen but a nice thought! good luck to you all.

  36. Joe Scott says:

    I have had the same experience as everyone. 9 months of trial mod payments and the rep tells me the last two months that they are waiting for the feds to hopefully approve a better program for me to save me even more money. Yeah right what alot of BS. I can tell you this. Keep you fed or usps tracking numbers and copies of everything that you send them and stamp them with the date. This will help you if they say they did not receive anything. I wish everyone the best and good luck.

  37. Sarah Brennan says:

    My hours were cut back at work and I am alone now and I support two children 4 & 5 on my own, I am not on welfare nor do I receive any death benefits ( another nightmare) my Chase/FHA mortgage balance is 176,000. I currently owe $11,200.00 , seven months behind. and I have a negative 4,000.00 in escrow because my assessment on my home was doubled. I applied for a Chase Loan Modification on 9-6-2009, I faxed in the documents, I received a call back the next day saying all of the documents were in order. They stated I should hear something soon. On October 6th, I received a call from them stating I was approved for the mod . Instead of 9.9%, my new int rate would be 4.78%. They did say that I will not be required to pay trial payments during the trial period. (???) To date I have not received any paperwork. I call almost daily. I will not call customer service anymore because they are absolute idiots. I have been told that I have no mod, and my house is in foreclosure, and none of it is true. One rep actually told me to drive to the nearest branch and drop off my keys. I asked which branch he was in and told him I would be right over but he hung up. I called the Chase Resolution Dept and they seem to be the most helpful. (800-242-7399). I was told that the mod was approved on 10-6-09 and it is still with the investor. I don’t believe it. I have requested that they send me the approval in writing . I never received that either. I think that during these bogus trial modifications and payments that Chase is trying to sell our loans to new investors and when they can’t they foreclose. Based on everything I have read here in this blog I believe that I am not getting a mod. They are being deceptive. I have 5 payments saved because I have never believed that they would help. and I am going to change to a 1099 form so I can try to bail myself out. I am not waiting for any foreclosure . I think it is illegal to tell someone not to pay the mortgage because a modification will help them and then turn around and deny the mod and sell your house out from under you. I will post an update on the mod when I receive my denial as to the reasons why it has been denied. Good luck to all of you , when it is all said and done I believe a nice lawsuit is in order, Please write down the date and everything they tell you. Communicate by certified mail RRR only. Protect yourselves . Sly as foxes……

  38. Paula says:

    OMG I agree with you all the person who wrote that article must have gotten a payout ,I really do not think Chase has modified any one. We were one month behind in our mortg payment and couldn’t pay our property taxes cause we used the $ in savings to not get behind on our payments when my husband was laid off and I lost my job with the market crash. I too have been trying to get my loan modified since April of 2009.9mos it has been a nightmare truly the banks Wamu/chase does not want to work with customers. It shouldn’t be this DAM difficult!I too have gone down the road of customer service/collections thease people get paid $8.00 an hour to tell you nothing about your home loan repeat a script to every customer lie and be rued for what reason for Gods sakes all we want to do is get back on track. why is there nothing being done about this problem? HELLO people have been doing this since Obauma put this in place. We can bail the banks out but they cant help us WHY because they do not want to loose $ they want to make money its sick and wrong they need to be accountable for what they did! The banks made alot of $ on refinacing loans and getting people in bad loans, we have a open arm loan.I started the modification process in April of 2009 and got the runaround missing dcuments the info is now old resend resend we were on a trial plan payment for 6 mos july aug sept then our loan was supose to be modified. NOTHING but lies. FINALLY I call ed HUD funny you get those customer service reps on a three way call with a hud agent WOW are they nice. My counselor couldnt get any answers at all and got hung up on 3 times!. Our original mortg payment was 845.00 we were paying a adjusted amt of 766.56 for 6 mos after all this BS I was told last week our finacilas lookd fine so all they will do is a loan repayment plan. there offer pay 865. on Jan 25th then 5 days latter pay 1,350.00 for 6mos (paying back the 1month we missed and property taxes)then they will review it and see what they can do i told them to SHOVE it our income can not suport that payment. so after nine months of HELL and frustration and doing everything they told us to do we are still stuck in our open arm loan and are right back to square one put a fork in me I am done!I hate Chase.I know I am not the only one . everyone of these letters should be put on the news why are they not reporting on the nightmare of this crap.

  39. Dan says:

    It certainly is comforting to know that I’m not being “singled-out” by Chase… they seem to be inept regardless of the circumstance. I had a very simple request when I attempted to do a loan modification… combine my 1st and 2nd mortgage into one loan, and give me a competetive interest rate. I have been hit pretty hard by the housing “slump” and I find that I am about $100,000 upside down. I told the bank that I was willing to be upside down but just lowering the percentage to a competive rate and combining the payments into one mortgage would save me approximately $1,200 per month in payment. The “CSR” that I spoke to said that we were too far upside down to help. I explained that we would owe the exact amount that we currently owe, so how would the bank be out anything. He told me that since the house is upside down, it’s not a wise “investment” for the bank!! What an idiot, they already invested in it… So I asked him how much the bank would get if I quit paying for the loan, he said that they wouldn’t get anything. So I asked him which scenario made more sense from an “investment” stand point. Of course he couldn’t directly answer the question, instead he said, “That’s your option”! Looking around my community, more than 20% of the homes are empty, bank owned, or for sale. It looks like a “strategic default” is the best way to deal with Chase. I guess I’ll just make the 21st %

  40. D. Nelson says:

    I think that the modification program is a scam to make you think your being helped.If you read all the different comments you see the same pattern 6 months or greater to get a mod. then if you finally get a letter stating your approved there is a three month trial period. during this time every month that you have been late that will be tacked on to your principle amount owed. I think the banks have figured out how to get some of there money that they may lose in reducing your interest rate by increasing your principle amount. Think about it there is no way that it should take this long to get a mod. i mean you can buy a home in 30 days or less.I guess we will never really no if thats what these corperate crooks are really doing.

  41. Tamara K says:

    OMG!!!!- I came home today and I had a Fed-Ex envelope from Chase and in it was my finalized modification. I am nervous though after reading all the posts. I am wondering if it’s really true. I have made my trial payments. Which started in Sept. 09 and ended in Nov. 09 and then nothing until today. It say’s it’s my final paperwork, but I guess I will just have to wait and see. Keep you all posted. Your stories are a lot worse than mine. I am feeling pretty lucky right now, I think!!!!

  42. Sharon Cain says:

    Same scenario since July 2009. Never late on trial period paymnets, got dropped from trial program (did not notify me) and I was still making payments. Then all of a sudden,Dec 2009, I receive Forclosure Summons! I am schduled to go to mediation on Feb 4, 2010. Meantime, Chase customer reps tell me to keep sending payments. I told them that I am schduled for mediation. Reps said, “Oh just show proof that you have been making payments and sent all documents”. Doesn’t make sense…..why am I being foreclosed on, payments sent on-time, and documents resent 4 times. Very fishy. Also I am told now that I don’t qualify for HAMP, but it could be modification with a Chase modification (of which no reps have discussed what their mod entails). Yes, we are being scammed it really appears. CHASE JUNGLE RULES. I sent President Obama an email to I received a generic reply and the reply didn’t even tackle that Chase and other banks are scamming us. It merely stated his promises of CHANGE. Yeah, the change is we are going to be homeless.

  43. Allene says:

    I called Chase in March of 2009 to apply for the opportunity to refinance my mortgage and keep it out of foreclosure. In May I was told I was approved for a modification and that the papers were sent out by FEDEX. I never got them. I called every week for months and was told that they were going through a changeover with their computer system and I would receive the paperwork immediately. I didn’t. I continued calling (and documenting) and talked to around 30 or so different agents who all told me not to make a payment because it would mess up my modification and ultimate refinancing of my fHA loan. I was told “you will not be penalized for our mistakes”. I now am being charged $24,000 extra dollars for following their advice. I have kept the agreement that I finally received in the mail in December of 2009 and was told this week that I “might have to continue paying the preliminary amount” because they are so “backed up” with the modifications. Meanwhile, I am continuing to mount up fees and don’t see an end to this anytime soon. I think Chase is doing this to all of us because they are racking up fees and making our situation so bad we don’t have any choice but to keep trying to get them to follow through with their promises.

  44. Annie says:

    Same story, same situation. We started in August of 2009, and called every week after our “30-45″ day review lagged. Our loan was in review, they’d call us. Never called. In December, they told us that it was being finalized and we should get a call by the end of the week, didn’t happen of course. I called the following week after Christmas, and the same old story continued about it being finalized. Finally at the end of January, after many calls and letters from the reps to their supervisors, they denied us, saying we still had three months left of reserve. We might have had three months left of reserve back in August, but our resources have been depleted since then. They said they wouldn’t help us until we’re three months behind. The most frustrating thing about it, is that like others, we did this to avoid falling behind and ruining our credit. We were still willing to pay for a loan that wasn’t worth the value of our home. Now, if we have to fall behind and mess everything we’ve worked for up ( our credit is also in the 800s) there’s no point in holding on. I’m disgusted with Chase, they have absolutely no interest in our pleas.

  45. Deanna says:

    OMG, I read the link from KIM that stated her rep was ANDREA GAMBLE. That is such a joke. I have ANDREA GAMBLE and called her and it stated that HER VOICEMAIL IS FULL. I have been negotiating my loan since June of 2009 and started making my trail payments on August 2009. I stopped after the 3 months period because my then rep CAROL HAWKINS who was super nice, stated that it was in their hands now and they would let me know if I qualify. Then I lost my wonderful CAROL HAWKINS for ANDREA GAMBLE and I am so afraid. Now I am told to continue to make the payments, but why because they cannot do their job efficiently. I am so upset and feel like just letting the house go even though I have a great job that pays well but had a crappy ex husband that decided to leave. I wish to god someone would realize that something is wrong. VERY WRONG.

  46. Robert says:

    WOW… Chase has done the same thing to me since January of ’09 I tried to do a loan modification on my own. I am on disability, my pay was cut from $5000 a month to $2800 a month I have a 30yr fixed at 5.87% on a 399K loan my loan payment was $2514 per month and for 6 years I paid 2550 per month. They played their game for 7 months telling me I needed to re-submit fax document after fax document as I was using all of my savings $16,000 and now beginning to borrow money from friends and family. They tell me everything is going well and I will be able to speak to someone before the final decision is made…. I call at least once a month usually twice a month to get updates same thing it’s in the underwriting, then all of a sudden I call and I am told I’m denied. I ask when am I going to talk to someone and I’m told I’m not. I never get anything in writing denying me or why I was denied only not enough income to sustain the payment. I then went to NACA for assistance they workout and plan, submit it to Chase I am denied the very next day. I call and explain I don’t want a handout I’ve paid and extra $50 dollars per month for 6 years on top of my payment all I need is some breathing room give me one year to get back on my feet… DENIED I have two roommates, my sister is loaning me as much as I need per month (that can’t last too long) and still chase continues to deny me because I haven’t missed a payment as I’m told by a lawyer and my house is worth more to them than my payment (i.e. they will make money off me when the house goes into foreclosure because I only owe $399k and the house is worth $500K at least)…. SO much for the bailout money the CEO’s are getting their bonuses; Politicians have no clue how the middle class are sinking and the rich are getting richer. POLITICIANS are living on the middleclass’ backs and we are sinking fast my credit score is…was 780 not for long as I don’t have anymore savings, my sister could not continue loaning me money I owe her about $15K now. I prided myself on my keeping my obligations positive. Our country is going downhill fast because of the Politicians having no clue where its constituents are and Bank’s CEO’s that own everything (including the politicians) and continue to suck the middleclass dry. I’m about ready to lose my house because they would not just give a small assistance like I said I don’t want a handout just breathing room one maybe two years to get back on my feet. Bank of America on a second of $60K agreed to 0% for 1 year then 1.3% for year two and three then 3% for year four then if not paid off by then to the conforming rate. My payment went from $300 a month to an agreed upon $100 they only asked for $50 per month. Well now I know CHASE is only interested in MONEY and their client’s homes if they’re not upside down, not their clients. I will submit this page to President Obama Ill let you know if I get any sort of reply worth posting

    2-7-2010 4pm

  47. steven ruza says:

    thats good news chase needs to help people

  48. steven ruza says:

    these guys have been abusing homeowners for years

  49. Jeff says:

    I too am trying to hunt down Andrea Gamble. My story is a little different:
    I renegotiated my loan and started a 3 mo. trial. My first payment due on Dec. 1 2009 was received at Chase Bank (cashiers check from Chase Bank) Nov. 26.
    Mid December I called to see if payment was cashed. It was not, but was reassured that it takes time, and the phone operator could see a copy of the actual check in the system, so I was relieved.
    Payment 2 (Jan) was sent third week of Dec., but check 1 was returned. Huh? Check 1 returned the day before check 2 was being sent out.
    I called Chase again and told them of situation. I was told to send them both back in because it makes no sense. I proceeded to send them in (via fed-ex), in separate envelopes.
    I called a week later, and again the phone operator said that both checks were in the system. Great!
    Check 3 – Feb payment was sent in at the end of Jan., and on Feb 1 we get a letter saying that we have been denied. What?
    So I have been calling twice and three times a week since this letter, and my first 2 checks were cashed, but now they are returning check 3. Oh yeah, now there is a sale date posted to my home…
    Do I send in March payment? Do I pack my stuff and move? Who knows, so I asked another phone person (debt collector), who gave me her employee I.D. # and her extension number. I gave the whole story, and she says, yes this is absolutely our fault on our end let me look into this.
    I felt reassured now that I can speak to the same person to help me get through this. I called again this morning to speak to Mary, and gave the person the extension number. I was told “we can’t transfer calls”. What?
    She said that she would help me. I told her no I need to talk to Mary; here is her employee I.D. #. I was again told we can’t look people up that way. I told the lady she works in your damn office! Get her. Well that was a loss so I had to start all over again.
    My home is to be sold in three weeks (after I followed through with my end of the deal), and I am told to wait 7-10 business days for a response for Chase (Yeah that will happen).
    So know what?
    Should I send in my March payment?
    Who knows?

  50. Jeff says:

    Talked to Chase twice more today.. About an hour after posting my previous post I clled again, because I did not like the answers I got earlier this morning. This time I called it seems that Andrea Gamble pawned off my paper work to somebody else. What does that mean? Well it seems that it means I need to start all over again with the process. I was directed to back to the web site, download the information, fillout all the financial information and fax it in. All this needs to be done before anything else can happen.
    So it seems to me that the last 4 months of sending in payments has been a complete waste of time, meanwhile I have acrued an additional 4 late payments(these payments are only trial basis, so they dont count as house payments) to my credit, I owe an additional 44k now that will eventually be placed on the back side of my loan with interest if I ever get this mess cleared up.
    I was also told that since my first negotiation (even though it is their fault) is no good and I no longer qualify for it, so I will need to speak to a negotiator. In the mean time my house is going through foreclosure, so I must wait an additional 5-7 working days before calling back!
    And to top it all off….I just got a call from the same damn office trying to collect the debt! What? I am trying to handle this, but at this point and time they can take the 200k negative equity and cram it. I will move into a new nicer home where I want to be, and they can have this one I guess. There seems to be no answer here, but I will repost the final outcome…until next time!

  51. KMDANE says:

    When you are on a special forebearance – and pay as agreed – foreclosure proceedings are supposed to cease. I have a signed agreement to that effect. Always received letters – (CHASE) After 8 months – modified denied – why???? no one knows nor I have yet to receive a letter- now wants all monies due for their bait and switch tactic. I am going to fight – fight – contact Chase executive office in New York – letters – via FEDEX – Priority Mail – even have someone post them on their building -

  52. Jeff says:

    I just spoke to the same department again this morning.It turns out that…get this one…my Dec. payment was received too early(I payed 2 days before Dec.1), and in doing so, the payment was not applied to the new program. This means that they got my money as they requested, but did not know what to do with it. I guess my trial basis agreement was not finalized internally with Chase, so they returned my first payment because it was not the total amount of my orig. mortgage amount. By Chase not doing their job or using common sense I have been denied.
    I understand that I got in over my head when my pay was cut in half some months ago, and I could have also destroyed my house and left it for Chase bank to deal with, but I am sticking with my obligations as best as possible.
    It is easy to play the big guy when you get $4 billion of play money!
    You would think that with an additional $4 billion, we could buy some common sense.
    Thanks for the anguish! Now what?
    To be continued…

  53. Robin says:

    I won’t go into all of the details of my loan modification with ChaseNazi bank because it is all been told here. After 8 months of going thru emotional stress and strain, and being hung up on and tramsfered. Also compling with everything I was asked to do. I’m told they are foreclosing on my house due to default. Please, Please some one leave a response here so I can become part of a class action lawsuit to stop ChaseNazi from outright stealing our homes.

  54. Tamara says:

    After reading this today I am relieved and angered at the same time. I’m glad to know others are having the same trouble, cause I thought it was just us. It angers me that they are getting away with this. We started trying to get help in November 2009. We have been on the trial payments for ten months. I also got told that the underwriter is looking at it, don’t know how long it will take. We are helping lots of people blah blah blah. I’ve also had to resend my documents numerous times. If there is a class action count me in!!

  55. pat t says:

    We just received our permanent loan modification from Chase today. It has taken almost a year to get it done but it’s finally done. I have nothing but good to say about the way chase handled our loan situation. They were very helpful and I think they (or at least most of them) wanted a successful modification. Thank you Chase.

  56. abh says:

    What can we as Chase consumers do collectively to let our voices be heard? Anybody?

  57. pat t says:

    Before we were approved we were denied 5 times. Chase, and all the other loan companies, have to go by very strict guidelines that the govenment has set up. As it turns out each denial came from our not sending in all the documentations properly or having insufficient income. No one likes to hear you have “insufficient income” but that was the reality of the situation. When our income went back up we were able to qualify. There is hope but only if you fall within government guidelines.

  58. John "Been Chased" W says:

    I too have tried to rework my loan with Chase 3 times. Did the paperwork and was approved 2X. Same deal – We are all looking for help but they always have to check with the “investor”. I had it – Have to short sell. Chase took my money and my credit score. FRAUD and we paid for it as a society! We are suckers.

  59. Kim Garrison says:

    Maybe we should set a date like April 15 and everyone going through a home modification and not getting anywhere go protest at our local bank branches, with signs and local press. Every day there is information about how these modifications are not being done and no one listens. Maybe if we got a nation wide protest going SOMEONE (politicians) would do something about these banks.

  60. John Stone says:

    100K Principal Reduction in 24 hours, learn more now. The Do It Yourself Permanent Loan Modification Package contains an actual case history package submission which was approved for nearly 100k ($99,598.00 to be exact) in permanent principal reduction. Download now for FREE!

  61. abh says:

    Pat T: What was your debt to income ratio which was considered insufficient? Perhaps you can help some of us out – let us learn from the secret information you’ve been able to attain.
    Otherwise, perhaps if a number of us obtained legal representation and approached Chase with our legitmate grievances? Something smells fishy and I fear too many of us are sitting idly waiting for some magic mailing or phone call which will never come. In the meantime we are paying moneys which are NOT going to our principal but to some ‘fees’ as we wait it out, watching our balance get bigger and harder to pay. All the while waiting to hear back from Chase. Chase on their part is taking in the money, enjoying the stimulus from OUR tax dollars and giving nothing back in return. Btw, is anyone on this forum based in the DC metropolitan area? Maybe we can get together and brainstorm on what can be done?

  62. I have been going to hell and back trying to get a loan mod.with CHASE . I have been on a 3 month trial plan now for 9 months still getting no where . I’m keeping this very short because just talking about it stress’s me out !!!! They put a whole new light and twist on red tape .

  63. Andrew M says:

    This is really terrible. I am in a mod trial for over 9 months. The same story as most of you folks. After many calls and many faxes, Chase says it has now all the documents from me. In reality, Chase had all the document for the last 7 months or so, but every so often they would send me a letter and ask for some update. I would fax and re-fax the updated document and have to follow up with them to make sure that again they have all their document updated. They also keep telling me that yes, you are approved for modfications and wait for another 2-3 weeks. However, it is very likely that I would be noted again that, well send me some more document. All I can tell, what Chase is doing is not right and it is not fair. This is very stressfull situation. They claim they want to do modifications but it seems like an empty promise and they have different agenda!
    I hope that law makers and Chase execuitives are reading these comments and will act responsibily to help us.

  64. Coner says:

    I’ve applied my loan modifications since 12/08, approved the trial plan on June 2009 for 6 months. Recently, I recieved a packaged from Fed ex, Chase approved my loan modifications. But guess what? My trial plans was 2371 compared to 2899.99 which is a lot of help financially. With the approved loan modifications I will be paying 2650.51 including my taxes and insurance. Rate may change every year due to property taxes and insurance. Chase loan is bogus, my plan is 1-5 years I will be paying $2000.15 plus $657.00 for insurance and taxes, After that is 6-40 years of $2371 plus insurance and taxes. Basically, I am only paying interests for 40 years and the rest after February 2050 that’s the only time I will start to pay my interest and principal. I will bed dead by then. In the long term, I won’t be able to afford the payment because of my retirement money. It is not fair for us who are trying to keep our homes. Any suggestions??? Please e-mail me. I will fight for it till the end because I have nothing else to loose. I’ve ruined my credit score and everthing because of this government rules and regulations on the mortgage industry.

  65. Lauren says:

    We have had our mortgage thru Chase since 2000. We took our last 700.00 that we had in savings to try to refinance. They told us that was how much it would cost us, and that we were quote, “a slam dunk case” and that we were pretty much approved. Before we sent the money we talked to the higher ups and they told us it was a done deal and to send them the money and they would start the process. Well, we did everything that they asked us to and after months of waiting we were denied. We had to fight to get 300.00 0f our 700.00 back and that took forever to get. We were just trying to figure out how come our mortgage had jumped from 900.00 to 1079.00 it made no sense. The people were rude and they told us nothing but lies.

  66. Chris L. says:

    Folks, you have to view this video to understand why the banks are not willing to do a loan modification. Link:

    Like all of you folks out there, we are on our 11th month on the trial period. In fact, we have not heard anything from the banks and we’ve been paying our loan mod hoping to get an answer soon.

    But, that will all change this month because it will take more years to get a return on our home. You hear that the banks are willing to do anything but a principal reduction. Also, the Obama HAMP program doesn’t address a principal reduction. So, why are we trying to hang on to our home. It is because we are condition to do so.

    If you look it as an investment, our home will NOT YIELD us of any returns. Bad investment. So why do you want to keep a bad investment. Other businesses will bail out. Why can’t we?

    Additionally, if you take the current market value of your home and compound 3.4% each year, you can see how many years it will take for your home to gain back that equity. Now this only applies in a good economy. When I applied the formula to our home that is 51% loss in value, it will take over 35 years.

    So, with all that,… it is time to just think of yourself and do what is right. Save your money and be free from this housing debt trap.

    I will return back to this forum when I’m in a better situation.

    Here is a couple more links:

    Wall street Journal “When it’s OK to walk away”

    “Strategic Default” by U.S. News:

    God bless you all.

  67. Neal says:

    Are you in the “chase zone” ??? Drum roll pleeeeeez, I acutally rec’d FINAL approved mod docs…..2% for five years, 3% for one year, 4% for one year and 4.875% for the balance of the loan…’s a kick the can down the road deal….my “original” wamu option arm has an all in rate of about 3.5% today, so Chase really isn’t doing much on the rate. However, I will not be subject to the doubling of my payment when the negatively amortized amounts are due to be recast soon. Chase did not add any years to my loan, and as a result, I will be having a balloon payment in 25 years….guess its better than nothing, but it only will serve to delay the inevitable….my house is worth 150k less than the loan balance right now……even with the mod it won’t be back to a positive equity position for over 10 years and that assumes all of the principal paid during the 10 years, as well as, applying a 4% rate of appreciation on the house value….Oh, the Chase rep told me it was a Chase Mod, not a HAMP mod, and that they had parted the waters like Moses to make it happen…..So, if you get the irony of being in the “chase zone” as their new commercials say, well, nothing could be more appropriate…..good luck to you all, I’ve got mine……one year and 5 months later…….now that’s progress……

  68. Amanda L. says:

    I have been workgin with chase for over a year. The 1st time I requesteda modification, they denied t because my particular loan didn’t allow for it. I started the process all over again in November 09 and it has been in “underwriting” ever since. Evferytime I call, I am transferred at least 10 times because no one can help me but this “other department” can, but then they transfer and I get hung up on. I have never had such bad cusotmer service. You want to try and get help but no one wants to help you. It is ridulous. Why even bother submitting requests if they are not even going to do anything with the request.

  69. BB says:

    I too have the same woos with Chase. I thought that because they were my lender they would be supportive,a nd helpful inthe modification process. I guess they don’t really care much. I am trying not to get into financial trouble with my mortgage, and they are playing games. I think it is aweful that they are doing this dis-service to their customers. I have been adked to resend typed forms which they calaim are illegible, and also asked to send inforamtion for persons who are not on my loan at all. ALl of this is cery frustratating, and I do belive that the only way that they MIGHT help is if you just don’t pay at all. Trying to do the right thing and pay at any cost is not a help in this situation. To all of you before me I feel your pain. I have been dealing with this senic Nov. 2009, and my paperwork has been on the Decision Makers Desk for 2 months; but they continually need more information. WHat really gets me is that if I had not called I wouldn’t know anything, becasue they certainly did not contact me.

  70. Jeanine says:

    I have been trying to get a modification with chase for over 2 years. Same story, glad to know it’s not just me. A class action lawsuit or any kind of public protest? Count me IN!

  71. NA says:

    We are in the same boat too. We have been trying for the modification since 2yrs, they rejected us twice and now waiting if sometime comes through. But to say they are really rediculas company. They call us everyday to pay the balance payment. Also we do receive a certified mail stating for loan modification to keep our home, with same message, and as we are in this modification they are not helping at all. They like to write good stories to help. But they are playing games here. i do not trust them. Very very bad experenice and frustuated with them.

  72. We too have in the the process since Jan 2009, daily calls, paperwork upon paper work, foreclosure notice put on the walls of our old adobe in Phoenix. Served notices, I was so scared my husband works for the airlines & commutes to LAX & has had to sleep in his truck all these years, to keep working and to keep us in a home we love. It needs work & EMC/Chase servers berated him, hung up on him & we had no way of knowing what to do. The house is way down in value & to my heart, it has alot of value, I have always wanted to be in an historic home. Its a sketchy area , & Phoenix has been trying to revive these areas & add character & all we received was hopelessness. I have been physically sick by this & my husband a basket case. All they say is trial mod? Why? More houses are going to go down & under & neighborhoods are going fast! We need to act now! BofA is doing it why not! Reduce the loan & over the term, they will get there money. It is sad… really. We are bankrupt now & hoping they will work something out with us. Do you Think they will? The big question…

  73. crass says:

    To all veterans and U.S. citizens;
    We as veterans put up our lives for our country
    so that all U.S. citizens would be free and be able
    to pursue happiness and the “great American dream”
    of owning a house. In my opinion, the U.S. government,
    the banking industry, and those on Wall Street have
    stolen that dream. I’d like to suggest that we the Citizens
    of the U.S. start treating these thieves as the carpet baggers
    that they are. The thieves should be arrested, convicted,
    and then hung till they are dead. Of course, it would make
    me happier if they were “tarred and feathered” first.
    The only way I can see our “dream” returned is to take it back.
    If we hang them along the reflection pool in front of the
    White House, then may President Obama and the rest of
    the corrupt politicians, lobbyists, and CEO’s might noticed
    that we, the Citizens of the U.S. are fed up with their greed
    and incompetence. If we left their bodies to rot, maybe
    the guilty parties that haven’t been punished will stop killing
    U.S. !!! When will President Obama stop making worthless
    suggestions and start making laws that the banks have to
    follow to return our dream of owning our own homes.
    It shouldn’t be as hard as it is to get a home loan modification.
    The process doesn’t work. The bankers have no incentive to
    reset the loan principal to what the County Tax Assessor has
    stated that the properties are now worth. In my opinion,
    if we start treating the politicians and bankers as they have
    been treating us then maybe they will actually DO something
    useful and stop spreading their BS. I think they all should be
    held accountable. However, since we can’t do that to all of then I
    propose that we public-ally and severely punish their peers.
    This might make them think about having to save their own
    worthless lives as we have to worry about saving our homes.

  74. Tony M. says:

    Hi everyone I have been trying to get a home loan mod from CHASE for a year now,I have had a home loan with Wamu for over 27 years never late, I got hurt real bad at work and because I couldn’t return with in 90 days of my spinal surgery a Warren Buffett owned company fired me after all the money I made for them. The doctors put me out on total disability I tried to get a loan mod I have been to HELL and back because of CHASE lost and misplaced paper work hours and hours of phone calls notices of selling my home and never talking to the same person twice and phone calls from Wamu/Chase collection calls about my payments they claimed there was no record of me being on a MOD. LOAN .This whole deal has strained my marriage and added more health problems. I feel helpless and lost. ” I WOULD LOVE TO GET EVERYONE TOGEATHER AND FILE A CLASS ACTION LAW SUIT AGAINEST CHASE…….

  75. manny ortiz says:

    Let me know what I need to do to join this class action law. Suit against chase.

  76. Tina Trauger says:

    My mortgage is threw J.P. Chase and all they do is give me the run around every time I call them… I’ve bin trying to get a modification for 2yrs..

  77. Barbara says:

    I’ve been trying to get a modification – permanent – with Chase for 15 months, so I sympathize with everyone here. I’ve used several resources on the internet for help. I was an active member on one forum for over a year, but its owner just locked me out because I am also actively using other resources and he is somehow afraid I will influence people away from his site. Doesn’t make sense but it is less my loss than it is the people who still use the site – particularly the newbies for whom I might have had something to say that would help. Not that anyone is getting mods, but there are some definite ins and outs I have learned. Oh well. I would encourage everyone to use all legitimate resources at hand and if anyone tells you not to, it’s a red flag.

  78. Crystal Stock says:

    I submitted this documentation to Chase back in November of 2009.. My father also submitted his to his bank (fannie mae) 2 weeks after me. He was approved in January for his. Here I am now April 2010.. 5 months later.. with nothing… Everytime I call their f’ing 1800 number I get the same answers.. 30-60 more days.. submit most recent check stubs and bank statement just in case… This program is FUCKING bullshit!

  79. Frustrated says:

    We submitted our paperwork for modification in November ’09. Received a letter in January that we were put on suspended forbearance, so no payments for 3 months until end of March. Didn’t realize our credit score was going down over 100 points. Received a call the first week of April and was told we didn’t get approved, so we were put on Chase’s modification not Obama’s. Chase’s modification is only $100 less than what my mortgage payments were. What a joke. Why the suspended forbearance? when i asked the person on the phone, he had no idea why they put me on suspended forbearance if i didn’t get approved back in December ’09. This country will either be for the poor or the rich, screw the hard working middle class. Now I have to get a third job.

  80. tmorais says:

    Chase is so full of …. they claim to help people stay in their homes, check out their website the say the helped so many people………..they give you the run around for weeks………only to keep hope alive, thinking you have chance with the modification………only to deny you. Thanks -

  81. Boober61 says:

    Chase pre-qualified me for a modification on my second, they said they would do a 3 month trial and if I made all the payments on time showing them I could they would then have it turned into a full modification for the remainder of the year or longer. This was called a trial modification. They took a reduced payment directly from my checking account so it was alway on time. These payments were for a 1/3 of what my normal payment had been. This was such a help, at the end of the 4th month I go a phone call from there collections and they said that I owed 2400.00. I explained I was on a modification trial, they replyed that my Modification was declined after the 3rd month because of missing documents. I explained I had faxed all doc’s and actully had to do this 3 different time because they kept loosing them. They said there was nothing that could be done as I was only given one chance to get the mod and I failed to comply. They were demanding the 3 months that were on trial and the current month in full. I couldn’t make this payment nor can I make the requested second monthly. It has now gone to a 3rd party for collection and the want the full amount of my 2nd of 100k. There are mixed stories if I may loose my house because of my second, I have been able to make my first although I am a bit behind. WHERE IS THE HELP???

  82. Jamie says:

    To everyone above who has gone though the same problems with chase as myself,
    I applied for a modification in February 2009 and it took until April 2010 for chase to finally give me a permanent modification which got rid of ALL of my late fees and missed payments. My interest rate also was lowered 1.25 %! It took a lot of work but I made it happen, and without paying a 3rd party to do it for me. Trust me, you dont want to do that! If you have applied for a modification and Chase is either giving you the run around, “loosing” your paperwork or saying you never sent it in, signing you up for a 90 day trial forbearance and then at the end of the trial told you you no longer qualify for a full modification I CAN HELP YOU!!! Also, I will help you for FREE! I will show you how to fight chase on your own and save your home. Some may ask; “Why the FREE help?” It is because I have been in the shoes of everyone of you and faced loosing my home too. I delt with the “chase run-a-round” for over a year and if I can save one person from all the work and stress I went though then I will be feel great. AND the help I am giving is not hard or time consuming, there is just a few simple steps that chase doesnt tell you that will save you so much time and stress. Please contact me if you need help, I am more than happy to help you.

    I have set up an e-mail so please send all details of your situation (personal info or loan number ande such not needed) the email is

  83. Mt. Mama says:

    We are just getting ready to submit paperwork for a loan modification through Chase and based on what I have read it seems like an impossible situation. I read a post from 2007 stating Chase would not give a modificaiton if you did not have funds left after your current obligations of at least $100 to $200. If we had money left we would not be requesting a modifiation ours being based on medical costs which resulted in loss of work. Our house payment is over 50% of our income needless to say we can’t pay our bills and the house payment besides being able to eat. Does anyone know if they will prove a modification if your numbers are in the negative prior to a the modification? We would benefit from the 31% home modification loan leaving us with $300 left over each month. Does anyone have a clue as to what figures they are looking for with their modification process or is there any hope at all, or should we just pack up our bags. So depressing wish there was help for all of us who have the bad luck of having Chase for our Mortgage Company.

  84. Kris says:

    I’ve been through the same circle. I was verably approved for the Making Homes Affordable. They gave the exact amout to the cent 2 weeks ago. Today I called to see when I’dreceive the paperwork, to hear that I wasn’t approved and another underwriter had my paperwork.

    If anyone knows how to get through this process, please help.

  85. Cammie Noel says:

    After waiting 6 months from first applying for a loan mod with WAMU in Dec 09, then given a trial mod for 3 months then being told you make too much money because we didn’t take your income (me the wife) into consideration (even tho mine was submitted EVERY time in ALL paperwork, )they raised the trial amount 400 per month, and we had to start over in another trial, then after another 7 month of re faxing paperwork over and over to the Jamie Dimon ‘s “executive Team” Which we got after sending a complaint letter to Jamie’s office)I got the call this AM you are denied because you don’t make enough.Totally contradictory CRAP.It’s obvious they are up to something…just what I’m not sure yet
    Now I am NOT giving up any ideas at this juncture anyone.??

  86. Pamela Montalbano says:

    I have been in the modification process with Chase since March 2009. I have battled breast cancer through 3 seperate surgeries, been through a divorce that offers little to no help with finances of two small children and I have begged Chase for help. I have sent paperwork both fax, and certified mail requesting delivery confirmation and receiving it for proof that they have my entire file and everything they asked for!!!. The story is the same….they are reviewing it and will get in touch with me. IT IS ALL A LIE !!! Please if anyone knows how to get through this send a message to me!!!

  87. Robin Luby says:

    I did a loan modification with WA MU in the beginning and they changed to Chase…so I redid the loan modification with Chase and they got me the paperwork and we got it all notorized and sent back with our new loan payment. Evidently no one told WA Mu and they auctioned off our house (July 09) and Federal Home Mortgage bought it. We were told it was going to be auctioned off but Chase told use not to worry we were being re-instated. It has been almost year and we just now got a letter from Federal Home Mortgage that they are starting eviction process….??? Chase still tells us our loan is perfect and they are happy with us, we now have had to hire a lawyers. Chase has been collection our payment every month since Aug of 09 and they don’t own the home since WA MU sold it. I feel harrassed by these banks and the stress and worry I do on a daily basis is unreal. I hate to leave my house for fear someone will show up and change my locks. I’m waiting to hear how Chase and WA MU are going to handle this mess.

  88. jackie says:

    After reading many of this stories, I dont think anyone yet break my record. I’ve put in my loan mod request with Chase since Dec. 2008. We were on time with out payment till they put us on trial. By April 2009, I was told my loan mod is approved and waiting for the legal dept to have the loan mod paper draft. FALSE!!!! June come…nothing, then I was told the closer on my file is no longer with Chase. My paperworks are no where to be found. I need to reapply. I did again and was put on another 3 months trial that ended up more like 9 months. In Dec 2009, I was told my loan mod request was declined due to no hardship. I went to Chase center and provide them my medical bills for numerous sugergy the last two years which prevent me from working full time. Chase rep at center told me this is a real hardship and reapply for me. A month later later, another bad news. I now send my complain to Chase as well as the Buss. Bureau. Chase manager put me on another trial since Jan. I’ve paid my 3 months trial. There’s still no news. Chase sucks!!!!!!!

  89. jackie says:

    Either Chase is overwhelm or they have no intention to help homeowners.

  90. jackie says:

    ur story sound famililar. Same with mine, first they approve, then denied due to no hardship,not enough income, then too much income, increased my trial payment by $600. Sounds like we all need to get togther to file a complaint. I file one to the Better Buss. Bureau. If more of us are facing the same problem, we all need to file a complain as well, then maybe Chase will hear us. The people they hired are bunch of idiot…they dont seem to know how to add their number up right.

  91. Tammera says:

    I too have the same story as the rest of you. I applied for the home modification on Oct 1, 2009. Never heard from Chase. I kept getting wrong information about where my file was when I called . No one seemed to know anything. Once I was told they did not have a application on file, then I told then that I have a fax sheet with the date on it with a successful submittion. Amazing they had found the application. Every time (once a month)I called to check on the status of the aapplication I was told it was in imminant default or loss midigations, nobody ever actually knew. Finally a Chase rep told me that my file was close with no reason stated or documented. I have never received any letters or calls from Chase about my application. But THEY HAVE MY TELEPHONE NUMBER TO CALL ME 3-4 TIMES A DAY ABOUT A LATE PAYMENT. I was told to resubmit another application, so I did on 4-6-2010. Called Chase to verifiy that they recieve the application and had all the necessary docuuments and was told yes. Got a letter dated 4-17-2010- MHA Modification Requested Confirmation. I called Chase a rep stated the letter was just to confirm receipt of documents. Today, I called to check on the status of my 2nd application and was told my file was closed again with no reason and had insuffient income. PEOPLE WOULDN’T BE REQUESTING A MODIFACTION IF THEY DIDN’T NEED HELP!After talking to 5 different reps and getting hung up on several times and being on hold 47 minutes. Believe it or not 1 Rep me to get rid of my assets. I told her the only assets that yall consider an asset is my car. Then she said” I guess you need to sell it if you want to get qualified.” and fill out a 3rd application. She was really rude and unprofessional. I asked to speak to someone else and was told the manager would have given me they same info. And they don’t transfer calls to the manager. I told her she should kept her F****cking as*** at home if she didnt know how to deal with a frusrated customer. Chase reps need more professional training. They need to understand that people are trying to save there home not asking to releived from their mortgage payments, and when you get the run around day after day, week after week it starts to get frustrating. CAUSE IT SEEMS CHASE IS NOT WILLING TO WORK WITH IT CUSTOMERS. BUT THEY WANT THAT FULL MORTGAGE PAYMENT ON TIME

  92. Norma Richard says:

    Michael Mayernick..You got it right! Ditto for my nightmare with Chase..; and, Chase is operating this way in AMERICA! Chase is worse than the common thug who “mugs” you on the street corner..Chase needs to be prosecuted for illegalities. I am all for a group: “Stop Chase Mortgage Scams”..Class Action lawsuit..litigation..etc.

  93. Norma Richard says:

    In my opinion, Chase has no intention of making their loan modification program work for anyone, but themselves. Chase has excellent “customer service”, and is very competent, until it comes to their loan modification deparment. That is by design..and their employees are behaving accordingly! After reading some of these horror stories, I am happy Chase denied my loan modification application point blank. The Chase” loan modification route”, is apparently, even more disastrous to homeowners..I will struggle along until legislation/relief corrects some of the wrongs Chase is committing; but, they manage to wiggle out of the intended outcome of all such legislation..

  94. christina says:

    I just googled “chase loan mod crazy” and all of your stories came up. The same story we have. We were contacted at 60 days late (9/30/09) and said we would most likely qualify for the loan mod under the Obama plan. I felt such a sense of relief. I have never been late on anything before. They set up on trial payments that were estimated off of our income. We have made every payment on time. We have sent everything on time too. Our income is still good but about 1/3 less than it use to be( We are both real estate brokers). It seems like once it got to where the call centers were calling and reading a script to us 9 in broken English)it was a nightmare. They said they had everything they needed. Fast forward to yesterday and we are DENIED due to the fact that they did not receive documentation!!!! Seriously flawed system. We are trying to do the right thing and not walk away from our home. It is now worth about $500,000, we owe $700,000. I will gladly pay back every penny, but CHASE’S solution was to actually raise our payment $250.00 from what it originally was and to extend the note 30 yrs plus 6 months. The reason behind raising our note, is so we can pay back the difference between what our trial note was and our past due amount. Don’t you think it is crazy though? If we couldn’t afford it, RAISE IT? We our on third year of paying on our 30 yr loan. REALLY DOES THAT SOUND RIGHT? I understand why people walk away. Maybe renting won’t be so bad!!!!!!!

  95. forrest says:

    for more than a year going the chase stuff every time i call its a differnt story. they say not all the proper papers done,next time i call its fine,i can call three times in a day its always something differt i dont know who to belive. and now my plant shut down im out of work its the shits.I made my payments for more than 10 years and i paid more on my payment so i could pay it down early. Hardship neck surgery thin heart atack but its not enough what more can i due.

  96. Norma Richard says:

    OK Folks..How many more nightmarish examples of the Chase Modification Program do we need to read?? If not a class action suit; can we at least get a committee together to draft a petition against Chase? Please e-mail me so that we can begin. In order to be a “victim”, you must agree to/accept the victimization. WE DO NOT HAVE TO ACCEPT THIS TREATMENT FROM CHASE IN AMERICA! (

  97. deb says:

    i as well have been fighting with chase for over a year now. finally got them to put on trial which did for five months which started jan 2010. march 2010 tried to deny me. faxed note under fair respa act that they were wrong. called to make sure that the faxed note was in system. my denial was based on gross income short of 250 per month so i found the guidelines for hamp and read thru all 30 or so pages and called them out and put page number and that they had to use child support cause six more years and it has to be used with three more years left. so i got put back in system. then about a month ago said got denied again, mind you i call everyday. fax my thoughts and demands and when i put under the respa ace i always get a letter back from them saying they are looking into the matter. well anyway second time denied i had to argue with the women to tell me why first it was because debt to income ratio was to high which was based on my initial mortgage payment and so i said that is why i am in this program in the first place. so i got her to go thru the amoritization of payments that they had set up but denied, at first she says i am not going to go thru it and i said like hell your not this is my life you are talking about, so she did and then her reason i was denied in the same conversation was that they put a lump sum at the end of 86000 and the bank didn’t want to do that. so i said what is the guideline of it being to high and she said that there was not and the bank did not want to do it. so again i faxed a note to negotiator called to make sure it was in system and under the respa act wanted it in writing the full amoritization i was denied for and explained how i could afford it and how the bank said that just did not want to do it and said do the right thing here and finish it i have proved over and over again that i worked hard to keep this house, so two weeks ago i got word, mind you i call everyday sometimes twice or three times, i do not miss a day, that i was approved, now two weeks later do not have documents ready to send yet but do not want to have me make another modified payment because included with july first start date, but after reading all this, tomorrow i am going to again fax letter under the respa act that i want it in writing that i was told that and that i am approved before the first of june hits and i get in trouble because i am not making that payment cause told not to but being told that i should have documents for final in beginning of june so need to take care of this before june first in writing, i have noticed every time i fax them the bull in my words and use under the respa act and the last one also said under the fair disclosure act and demand answers i get somewhere right away, so tomorrow i am going to do that to deal with the word of mouth of approval and call next day to make sure it is in system and i put my mortgage number all over the note because from what i have been reading if i do not do this before june first that they could try to kick me out and i am not letting that happen so i am making sure my side is in writing and it is in their notes as well as mine. i got in this situation because the other owners screwed me, brother abandon property and i got divorced and my ex husband never helped. i always did the painting got the tenants its a two family home and dumped everything i had in this house. my mistake was that i bought a home with the wrong people but i have come this far i am not giving up and i am not giving chase my home. they also called me during trial modification that i had to get my brother off the deed, which had to have dad do. so they can make it affordable for me, whatever it takes i am not giving up, every day they will hear from me, actually i had gotten a person twice. some are really helpful and make sure you do not get kicked out and some are jerks and you let them have it and tell them you are fighting for your life, do not take no for an answer and show them where they are wrong. good luck to all

  98. Lane Michaels says:

    I was in “temporary” 3 month pretrial modification at 62% debt ratio’s – and strung along from June 09 to March 2010 when I realized they are increasing my loan balance (now over 190% of the market value and growing further upside down every month).

    They continue to request for the “same” documents, then they confirm they’ve received them – then they request them again. I called the corporate office – escalation department and was also given the run around, while they prolonged me some more – they were setting me up with filing a NOD then told me to ignore this, as they are working with me. This is thievery – blackmail, and and illegal -yet they still do the same tactics every day. The Banks have taken over – they have no penalties if found they are taken advantage of the borrowers and blatently lying.

    I filed a complaint with the Justice Department, and with SIGTARP the oversight committee for TARP funds. I am not sure how to file for the US Courts to take notice. This is so frustrating that they abuse the system and are misleading entirely.

    It’s definetely a fight these days — never thought our government would allow us such abuses. Chase -EMC — Get it together…

  99. RJ says:

    I applied for a loan modification with Chase back in July of 2009; sent in everything. Followed up with them, after not hearing a thing, back in February and was told “Yes, we have your application. Nothing at all has been done on it.” They took my financials over the telephone and all other pertinent informatin, I faxed the same stuff, updated stuff, etc. I then called in May to find out status and was told there was nothing in my file!!!! I now have to resubmit everything.

    I am a loan modification paralegal with a law firm in Nassau County and I do this everyday; I call on my clients files once a week. Sadly, I was not as diligent with my own file, but this is ridiculous!!!!

    From what I’ve seen Chase is one of the worst banks to deal with, followed by Bank of America. Wells Fargo is about the best so far. But all of them just keep reinventing the wheel with each call. This process needs to be streamlined. Now they’re blaming it all on the government saying that because the government changed things we have to start all over again. I’ve even gotten reps who just pick up the phone and do not speak, I’ve been given misinformation, lied to, etc. You would think that at the point when a file was given to Underwriting or to a Negotiator they would want to communicate one on one with ether the Borrower or the attorney the Borrower retained, but this is not the case. It seems the banks just want to make things difficult.

  100. RJ says:

    Good Morning fellow sufferers,

    Thought you would like to know you are not alone in your misery.
    A client of mine, who is about 90% through the loan modification process, received more letters from Chase repeatedly requested the same documentation they have been requesting (and receiving) for the past month. This time, the request came with a pre-printed fax cover sheet which showed a fax number different from the one the representatives have been giving me. We faxed everything requested, yet again. We also had a conversation with the representatives of Chase stating same at which point the rep asked me for the exact same documentation I had sent 2 days ago. (HUH?!?!?!?) It gets better.
    Chase is now asking us for proof of homeowners insurance. We have faxed this to them no less than 3 times in the past month. What makes it even better is that Chase escrowed the insurance and paid for a year of it, even though my client showed proof that she paid from 2009 through 2012. When called on this issue Chase’s answer was “we escrowed the insurance” period. No reasoning, no acknowledgement of my client’s haveing paid it and having it in place. The Insurance Escrow Department wanted to send me back to Loss Mitigation which was where I came from in the first place. This is a mess. The beat goes on.
    These banks are wasting time, money, etc. No one is overseeing this process, otherwise, one would think, it would be in better shape. Chase really should hire an efficiency expert to help with the process, but wait, then they would actually have to give people loan modifications, instead of spinning wheels round and round while desperate people in dire need of financial help go homeless.

  101. Connie says:

    Someone needs to figure out a way to copy and send everyone of these comments to OBAMA and to the newspaper. I don’t think any of these banks want to help anybody. The moment you apply for the help your credit score nose dives, then they screw you around and then say no. I have been researching this for months before I even contact them and it looks like a losing battle. I am going to seek attorney assistance. I had a friend that was jerked for a entire year. They told him finally that they were going modifi loan from 248 to 80 said he would get the paper work in a few days. When he got it , it had a forbearance agreement-he had never been late or missed a payment and they were increasing his payment by 500, he told them where to stick it and that the keys would be in the front door July 1.

  102. RJ says:


    I agree with you. I just finished faxing to every fax number I have for Chase (obtained from faxing my clients’ papers over and over and over again) FOR THE THIRD TIME, since July 2009, my application for a home loan modification with supporting documentation. This time, however, I have copied the NYS Attorney General’s Office and President Obama at the White House. Some one has got to here the little people in America’s cry for assistance.

    These big banks dont’ give a damn about us. Now they are saying there is no guarantee you will get a modification and many times as of late they are propopsing Short Sales!!!! So what exactly does this mean? Does this mean the banks are no longer cooperating with borrowers with the intent to help those severely hit due to the huge economic crisis in this country; those who have gone without jobs for over a year or more; people who always paid their bills but due to unemployment, lack of jobs, lack of business, financial hardships, etc. are losing everything. Are the banks looking for foreclosed homes, doing shorts sales just so the bank continues to make money; ANY KIND OF MONEY, from whoever they can make it from??? Will the banks take foreclosures and start rending them out now?

    We all need to speak up and demand the banks cooperate. They say they are but as all of us here on this forum know, they are NOT.
    Mail anyone and everyone who will listeng. The word has to get out that the bank are doing NOTHING to help home owners. And, if you did get a modification speak up too and praise your bank.

    Good luck all.

  103. Susan says:

    Thank God I have the above information…my insurance company, namely Nationwide reported 3 burglaries on my property and the fact is only one time did I report one….get it ONE …this depleted my escrow, upped the mortgage by $218 per month..paid the new payments until I took 11 months and 2 commissioners offices to straighten this out. Delaware by the way…which while waiting, I lost my job, continued to pay the mortgage, and not once did this amount of mortgage change, but 3 times, until it sent me into a forbearance agreement with CHASE….why, could not get help…..when seeing a counselor at the Hockessin Community Services, they could not get Chase to answer to them either and the woman had over 23 yrs experience in helping people with mortgages…I signed the agreement, paid every month for over a year, and now have a new modification that does not add up…..cannot get Chase’s forbearance and modification person to answer the details, she told me all she does is get the paper work and put the figures in a machine and the modification comes out with the numbers……..I put 93 thousand dollars down at the settlement table, $73,000 all to the house….leaving me to date $162,000 principal balance after 3 years….modification wants 3 years of escrow up front… of XXX amount of dollars for interest fees and charges…leaving me a new principal balance of $171,000 principal balance….new interest rate of 5%, and a difference in the monthly payment by $8….help me out…what happened to me paying more than was right for months because of Nationwide???? What happened to no escrow???? How was this not up to date if they paid the charges???? No one pays taxes for you….no one pays anything for anyone, especially a bank….I want an the whole thing amortized on paper…I want every payment made since day one….I want the overage when Nationwide did what they did….and then we can sign an agreement…also…how can my $73 thousand equity be lowered to $29 thousand dollar loss, not in my favor helping me the struggling homeowner???? Did you know that every loan modification Obama is paying $1,000 to the modifier! DO YOU LIKE THAT ONE????? There is more…we just cannot get any answer straight from the lender….can you imagine this and WE are the United State of America…GOD HELP US>>>>>>

  104. Connie says:

    I don’t think they have any intentions of helping anybody. They are all just doing a very few just where they can turn in numbers to the government and try to make them think they are doing their part. One person that used to work at one of the major banks posted a very enlightening message which basically just clenched what I thought all along. They stated how they are trained to carry you down this merry go round one way street and wind up denying you. They left after they could not take it anymore on how they are taught how to treat people.

    Another person posted that she went to one of the auctions. BOA was there and had 25 houses up for auction. BOA representative turned around and purchased each one of these houses for 100.00. Now they have a free and clear title, can still come after the homeowner for the deficient amount and collect that way and resell the house. Or they may sell the deficient amount to a collector for amount and still resell the house. The collector comes after the poor homeowner. Example house has loan for 200k, bank sells the paper to the collector for 100k, Bank resells the house for 100k , bank has made 200k. Homeowner has judgment for 200k. This is why they want to foreclose and not do a dil or short sale or loan modification.

    I have been studying this for months and have been to hundreds of forums and it is the same story on all of them for all the banks. They have 0 interest in helping anybody.

    I have written directly to a lot of newspaper journalists and basicly if just one had the B*** to publish some of this and bust this wide open someone might take notice and do something. If I thought I could ever get all this evidence in front of Obama I would try. Not sure if that would even help but someone needs to check into this. Someone is paying off someone.

  105. john marconette says:

    I have been dealing with this for over a year now, and have sent paper work over and over again, have been rejected the first time because they said i did not have a terminal illness, or death in immediate family, I think a class action law suit is around the corner and everyone should be notify state attorney,

  106. Sarah Brennan says:

    Here is my story, I hope this helps. I lost my job and became 2 months behind with Chase. I called and I applied for a loan modification in July 2009.They told me to apply for HAMP when I owe at least four months. Mortgage balance 175,000. Home value $176,000. I am now employed and ready to resume my mortgage payments. My int rate is 5.25 fixed for 30 yrs. Over the last year I have called Chase about 300 times requesting the status of my loan modification. I have been told to fax documents over and over again, transferred, hung up on and then , finally I received a letter from Chase in March 2010. It was a forbearance plan asking me to sign it and return my first payment April 1, 2010. The forbearance plan was three payments of 1,600 then the fourth payment was $14,000.00.
    I called Chase and told them I didn’t want to sign it because the fourth payment was so high. They told me the loan would be modified before that fourth payment would be due. I signed it and I made my April 1 payment and May 1 payment. I was about to make my third payment yesterday and I got a package from Fedex. When I opened it I was very surprised to see my final loan modification paperwork. It stated that the investor has approved your request for a loan modification. My interest rate went from 5.25 to 5.00 and everything that was past due (13,000.) was added to the principle. This has been the most frustrating experience. The process of doing a loan modification is a long battle and now that its over I have asked myself was it really worth it? The answer is no.

  107. john marconette says:

    well i have read most of the post, and they all sound a lot alike. i think we need to start educating as many as possible, we need to send this page out and list emails, maybe someone will see our need for a lawyer to start to put together a class action, we need to contact all state and federal agency, my email is

  108. Connie says:

    Hey John,
    The thing is we need to all band together, The sheer volume of how many there are out here affected voicing what is happening all at once will carry a bigger punch than if we all just write here and there. We need to think of some kind of plan. I have written to several newspapers but just been ignored and not even answered but maybe if more and more write the same people someone might take notice.

    As far as someone stating you didn’t have a terminal illness that is a joke too, someone has in one of the forums they are dying with cancer and they got the same run around.

    Sarah, that modification they gave you is a joke. I wish you had told them to stuff it. I wish some news reporters would show up at some of the auctions and see some of the bank people there and see them in action buying their own properties back for 100 dollars and blast that all over the tv stations.

  109. RJ says:

    Well, FINALLY, Chase’s representative confirmed today that my file is with an underwriter and being reviewed! Whew. Only took a year! Now I have to keep on top of them to make sure they do not neglect the file and drop the ball. Will keep you posted.

  110. Connie says:

    RJ, I sure hope you get more than Sarah did , she only got 1/4 point deduction in her interest rate after going through everything she did and no deduction in the loan amount. Just does not seem hardly worth what she went through and took a hit in her credit score. But then Chase can report they did a loan mod to the government though.

  111. Nathan says:

    The Morgage company’s are all CRIMINALS!!!!!!!!!!!!!!!!!!!!

  112. jennifer says:

    I am saddened to read the previous comments, because it confirms what I suspect, Chase has no intentions of modifying my loan. I stated the process in April 2009 and on June 7 2010, my paperwork is finally with a specialist. I haven’t got my hopes up because..well I’m sure you all know. Anyhow I am trying to be positive, my “specialist” is very nice and seems to want to help. I’ve been contacted by different organizations asking for $1400 to $2400 for either forensic audits or private modifiers! How do they expect u to pay those outrageous amounts when you’re already having trouble paying your mortgage? It seems as if noone anyone is trying to help! I’m desperate, but I’m not giving up without a fight! Looking for a part time job now! I would be very interested in a class action suit! Whether my modification is approved or not I want to do SOMETHING to help others! This is ridiculous!

  113. Chris L says:

    Well, folks after a year of the loan mod process, Chase approved our mod but we will be paying $700 more as an interest only loan then balloon payment. I refused to signed the final documents and wrote them a letter of denial with next actions to a Short Sales. Get this, Chase didn’t reply at all. My real estate agent has sent forward the authorization to work on my behalf for the short sale. Now, Chase sent me a mail to see if I wanted to apply for a loan mod. I called Chase and told them to write on their notes that I am pursuing a Short Sale.

    As I understood it correctly, the foreclosure timeline stop once you get a buyer. However, it now been 2 months that I haven’t secured a buyer so we dropped again the listing price. I really don’t care what price is listed since Chase still have the final approval. I figure the longer it is out listed the more pressure the banks have to make a decision to approve the short sales. The important thing is to have a buyer secured. On the average it will take almost a year or so for a short sale to go through.

    Now folks the stress of letting go of the house is far better than working with Chase on a prayer to reduce the principal. It will NOT happen any time soon. Best to cut your losses sooner than fall ill with this political housing/banking game they are playing with the consumers.

    If there is a class action suit, please let me know.

    God bless you all!

  114. RJ says:

    Hello all,

    I’ve been very, very busy working on mods. If the banks would stop changing procedure, needing duplicate, triplicate copies of the same freakin’ documents we’ve already sent them, get some customer service reps who can speak English or maybe even know how to count their toes, I might not be doing so much work, OVER AND OVER AND OVER AGAIN!!!!!

    A Bank of America Negotiator could not understand total gross income or had questions regarding pay stubs on a mod which we have been working with for over 2 years with two banks ( now with BOA) and he just closed the file. We have a Sale Date two weeks away and he just closed the file. Denied based on his mistaken calculations; no further communcation before the closing of the file so our clients appear to be screwed. The right hand does not talk to the left hand and the body gets screwed. This is outrageous especially since we call the bank weekly to ensure that they get whatever they need, there is no lack or gap in communication. Did I say OUTRAGEOUS on the part of BANK OF AMERICA!!! We will try again to do something for our client but this whole process should not be this difficult. As I told the reps all this messing around and our client is going to lose their home through no fault of their own or ours. Just the fault of Bank of America. UGH

    Will report on this as it unfolds.

  115. Connie says:

    Again I say they do not want to help. Other ex employees have stated they are trained on how to keep you on this merry go round. If they can buy the houses bank at auction for 100 dollars why would they want to help. They are helping the bare minimum with the smallest amount possible just to turn it in to the government where they can say they have helped x percentage.

  116. RJ says:

    Well, its nice to know things are stable at Chase. Stable in the slow and stupid departments I mean. After one year of sumitting the same documentation over and over and over again and Chase having lost my documentatin over and over and over again; and having been told over this past year there was NOTHING in my file over and over and over again and that no one was working on my file over and over and over again……………..I received a Fed Ex package today. Chase is now requesting the same documentation I orignally sent in ONE YEAR AGO, same as which I have subsequently sent in twice over since then.

    JPMORGAN CHASE, you are a JOKE!

    This bank is in no way, shape or form helping homeowners keep their homes through home loan modifications.

    It’s all stall tactics, lies, smoke and mirros and BS. Their employees are making money, costing ther customers money in order to pay these idiots working for Chase and of course to pay the big top Chase executives their large salaries but we the lil people still sit here and suffer. It’s a joke alright, a sad, sad joke.

    More to come………………

  117. RJ says:

    Is this why the banks are now, more than ever, are not willing to do loan modifications:

    Think about it.

  118. mark says:

    By now we all now the article is a fairytail written with info from the bank, not even one of the thousands of customers attempting to work with CHASE could have been asked or something of the truth would have been refered to.
    Like most of the other posts, my story starts before I even missed a payment. I called Chase Oct 09 to ask about my options as one income was going to be interupted for a couple of months due to major surgury recovery time and that this followed a reduction of over a third in my income in Sept 09. Great news – we could call back after we were 60 days late and apply for a modification. (Modification rules state that you can apply if your IN DANGER ON DEFAULT.)
    We missed Dec 09 and Jan 1 2010, someone from case (collections?) called and I told them I wanted to apply for a loan modification. They asked some questions and set me up on what I was told was a 90 day trial at a reduced payment starting Feb 1 2010. I called in each month to make the payment by phone as instructed and while talking to the loss midigation inquired about the status and was assured in was being handled but not assigned to anyone yet. Over and Over I asked what needs to be done. I could not see or figure out where my reduced payments were going – they get held in an account and Chase applies only full original amount payments so I was slowly slipping further behind without really understanding. they are taking all the late fees up front each month making it even harder to get cought up. In April 2010 my wife lost her job of over 20 years – now we without dought should qualify.
    May 2010 get a call from Sabrina Goodwin at Chase informing me that we would be removeded from the mod prograam at the end maf may because we did not submit the application. We have asked what we needed to do and were told that we would be contacted – well this was the contact.
    End of May 2010 drove 35 mile for an appointment we made at a Chase home center in Sac Ca to assist in the application paper work. (At this point we wanted no more mistakes or omitions.)
    All was well for two weeks got a call and letter stating the app was incomplete – the caller wanted a few docs (that were already submitted) and the letter requested everything pluss a few more like a death cert and divorce docs. – we are alive and still married. both informed us we have 30 days to comply. I have called many times on this matter attempting to get my case worker – not going to happen, but I do get to talk to the random person In the dept. They still (after I calll them) seem to find a box that was not checked or some other BS. CALLED 3 times last week -3 different replies , 1 wanted a page resent by fax (I did) called again to verify was told it was and to check back, I did and that person now tells me to resubmit the intier application with new supporting documents.
    IN A NUTSHELL: OVER A YEAR OF FINANIAL HARDSHIP, 11 MONTHS SINCE I FIRST CONTACTED CHASE, 7 MONTHS SINCE GETTING INVOLVED IN THE MODIFICATION (paying late fees all along), AND WE ARE STILL IN CHASE HELL. – OH and my wife took a job managing 5 stores for 10k a year less than she was making managing one. (work is work after all, thats what we have always done) LAST CALL TO CHASE: THEY NOW TELL ME WE DON’T QUALIFLY FOR THE PROGRAM. ” THE PAST IS THE PAST AND THIS IS NOW.
    please please please – contact me if there is a class action suite -

  119. Adam says:

    Well my nightmare started in August of 2009. I was falling behind on my payments due to having to take a job 20,000 less than I was making when I initially bought the house. For a while I kept making the required payment to keep my house from going more than 3 months into default. Kept getting the run around. Submitted paperwork at least 3 times always being told they had not received it. This even after Fedex and verified delivery. Well I finally got wise to their game and without any further ado I am off of this Merry Go Round. Foreclosure and all. I just couldn’t take the stress any more. Let me know if anyone finds out about a class action suit. I will be more than willing to testify. BTW the only thing this bank is doing is helping itself to people’s property.

  120. Jennifer says:

    I like how Chase has said they’ve helped 250,000 homeowners really? I started my remodification Aug.13th, 2009 after the company my husband worked for went under, after two months of resending my info. in they denied me stating “the remodification program will NOT BENEFIT YOU at this time” I kept reading that last part in so i called and asked a rep. can you tell me how lowering my interest rate wouldn’t benefit me? she said “no ma’am at this time it would’nt” o.k. so I was frustrated decided to keep at it waited the thirty days tried again, and yet AGAIN I was denied- this time it was because I didn’t make enough money HUH??? I told the rep. isn’t that why you have this program? she told me that I could try again if circumstances changed. SO third time’s a charm right?? nope, this time my husband was working again and I had my parents write a letter stating they gave me money until I was back on my feet. Well they denied me again because I have a FHA loan. I gave up and I guess until they approve FHA loans I’ll have to sit back and see if anything is going to be done by this administration…… Their definately needs to be more oversight with these banks, isn’t that how most of this came into play to begin with? bush’s administration had NO oversight on the housing market/banks? why does the Government give CHASE 25billion dollars in tarp funds and not have anyone monitoring their activity??
    No what Chase Bank does is make HONEST, HARD WORKING people jump through fire just to get some relief? don’t get me wrong, their were people that knew they couldn’t afford the home they bought with balloon loans, Arms etc. but what about the people that lost their job? both my husband and I go full-time to school work so that we don’t have to struggle…….. Living that American Dream eh?

  121. CINDY GALISIN says:


    September 1, 2010 Galisin
    13 Pine Cottage Ln.
    Palm Coast, FL 32164 386-206-9697

    Thank you for taking a moment to read our letter, we are sending this letter to you Mr. Mica to reach out for help or advice. I know that we are not the only family going through hardship and heartache at this point in time.
    We have 2 little children and are trying to survive from day to day the best we can. We are a hard working American/European family. I have been in the United States for over 20 years, have gone to college and worked all my adult life, sometimes more than one job at a time. I am proud to say that I now have my citizenship here. After living in New Jersey we moved here to Florida to be closer to my family, to build a home to raise a family in, to start new careers and have an opportunity to grow. Our dreams and our future are in jeopardy. I spent months working at obtaining a remodification with Chase Finance Mortgage, I received paperwork stating that my loan was remodified in February 2010. I stopped receiving monthly statements to pay my mortgage last January 2009 but continued to mail my payment to Chase with my loan number on the check. They continued to cash my checks. We have lived in our home for 6 years, and we have always paid our taxes and mortgage payments on time. When the housing and construction industry took a down turn, my husband lost his job. I contacted Chase to help us and they offered a modification plan. I went through that process only to find out later that they never actually approved us-meanwhile they never called; never send an email or a letter to notify us. If it would not be for me continually calling them to see where we stand-we would never know. So I tried again to go through a loan modification but here I am again, almost 2 years later, getting nowhere. I have now personally spoken to 142 people from Chase, 172 phone #’s, 134 fax #’s, 131 extensions and half the time that person does not exist and my paperwork that I’ve mail via Fed-x to them at their request disappears. When I do get to speak to someone, they are rude and nasty, that we are in process but no one has any answers for us. I spend most days, after working a full shift at my job, on the phone trying to get answers. I am out of energy; I’m discouraged and cannot believe this is happening to us. They claim they don’t know where my payments went to, they say I owe over $13,000 and cannot explain my account. Yet, they paid my taxes and they paid my homeowner insurance premium from my escrow account so I can’t understand how they paid them from an account which should have no money in it. I went to see an attorney, I sent an email to Attorney General-McCollum, I wrote letters to President Obama-which never got answered, I went to see 4 mortgage professionals for advice, 5 banks…and you are my last hope.

    All I want is for my family to have a home. Do I stay? Do I walk away? I do not want to lose our home. We worked very hard for what we have and built for our children. All we want is a mortgage to pay and peace of mind. This is beyond explaining, beyond tears, beyond looking at my daughters and wondering what do we do next. Any a advise or direction that your office could provide would be greatly appreciated. Surely someone at the government level should be able to assist the public when many of us are so clearly being taken advantage of by the big banks and mortgage companies. Someone needs to stand up for those of us who work hard to build a future for their family. We are not the only family going through this unimaginable, horrific, exhausting situation. We need your help. Thank you.

    Thank you very much from bottom of my heart!!!

  122. Janet says:

    been there done that all for the last 1 1/2 years we are now facing forclosure on our home of the last 11 yrs which we have raised our children in. We have actually been able to intervine and are attempting a short sale we have a buyer and a contract but now chase is dragging their feet on this so I am getting scared that the buyer will back out, unlike most people our home is worth well more than we owe I am starting to think we are being scammed again they sent out their own appraiser to our home to appraise it. We had it appraised at 160,000 we owe 124,000. So i am thinking they are planning on forclosure so they can resale and make money the place is in excellent shape. Also could not get refinanced because there “modification” has ruined my credit . So Merry Christmas CHASE you got a new home!!! They litterally TOOK our home!!!! We will never buy again we will either rent or build ourselves paycheck to paycheck!!!! SHAME ON YOU CHASE AND I PRAY FOR ALL THE PEOPLE THAT WORK THERE AND LIE TO INNCENT CONSUMERS EVERY DAY THAT GOD HAS MERCY ON YOU SOULS!!

  123. Kevin says:

    WOW!!! many of these people echos the same concern. I have come to find out that Chase and many other companies have violated the law when they put together many of these hard working people mortgages . Personally i would hire a professional loan auditor to go over the loan documents for violations of federal and state laws including foreclosure and then contact a really good real estate attorney to file a law suit. Also the FBI now has a department to handle federal violations on mortgages you can also checkout the department of banking and insurance file a complaint with them and there are other state agencies to file a complaint with , Just remember this is a high stake poker game and the jackpot is your home it is the Banks vs the Public . Please don’t just give up it’s your home it is worth fight for and don’t move out be patience and they will come around so put your game face on and just remember that some of these companies are stuck on stupid . Also check out this website for help .

  124. Darryl S. says:

    Please contact me if anybody organizes a class action lawsuit against Chase.

    Our ‘trial mod’ began in October 2009. Made payments at the lower trial mod agreed payment, sent ALL documents and continued to send and re-send all paperwork asked of us.
    In July 2010 we were told ‘congratulations, you have been approved for your modification. Our monthly payment was refused, telling us no, hold onto that, your new loan payments will be in your new package.

    No package, 2 months later, Chase still won’t take our payments, now the loan is being ‘transfered in servicing’ to another servicer.

    We call every day, they repeat the same lies, refuse to put a supervisor on the phone, and now I believe the company are just one big fat liar.

  125. JennyJ says:

    Total craziness! I am trying to get a simple letter from Chase stating that my loan was backed by Fannie Mae when they did my closing in Jan. of 2009. I have the EXACT same story as everyone above. Lost requests, repeated requests, transferring to other departments, sending to “review headquarters”. It’s a total joke. I have the opportunity to bring my rate down by one point if I can re-fi-i just need this proof of my investor and the corresponding date. I even had an attorney send a letter. They could give a flying fig. What to do, what to do???

  126. JennyJ says:

    Ditto…please contact me if anyone organizes a class action suit against chase.

  127. Anna says:

    Same basic story 2 years of filling out the paperwork , hardship letter, oops missing this or that now re apply you waited to long , my mind is numb, they call same questions never the same person I Have to take antidrepressants so I don’t blow my head off, put in WAMU crap loans with good credit ,50% down still PUSHED into to crap they paid bonues to push, If you say you want to tape them they hang up NO supervisors, I believe that is because the cubic’s job is to keep you spinning into insanity. Would love to sue them ,got a trail mod than no on perm one , 4 people 4 reasons why not made permanent . This whole situation needs our government to take real action ,oh but the bank owns our government. I wish I had the money to leave this country its so corrupt.

  128. MEL says:

    Please do not believe Chase has any intention on helping you. They will string you along. You will fax them all the information they require. One week they will say they have it the next week they will say the never received it. One person will tell you one thing, call two days later and you will be told something different. You will be given Many different phone numbers and many different fax numbers to the point you do not know who is getting your information. After four months of this they will tell you your information is outdated. you will then have to go through this every week calling once or twice with the same outcome. You will never be able to talk to only one person. Even when they give you a person to talk to, call days later and they will tell you they do not know that person and do not know that extension. Then when you get mad enough and go straight to a Chase branch, sit In the waiting room and listen to all the people who come in with the same story. It is sad. Keep in mind it is not just Chase. doing this. And this is only the half of it. Just wait and see what they have in store next !

  129. RJ says:

    Bottome line is THE BANKS DON’T CARE ABOUT ANYONE LOSING THEIR HOME; THE GOVERMENT DOESN’T CARE EITHER. The whole Loan Modification Program is a SHAM!!! Hardworking Americans are losing their homes every day while the rich get richer and the predators make out buying up foreclosures like bandits. Nothing is being done about helping people stay in their homes. The banks are now acting as COLLECTION AGENCIES harrassing the people who applied and are applying for loan modifications. They are not giving them modifications or helping people workout a way to repay their arrears and get back on their feet. They are shaking those people down to PAY one way or the other. This country is a disgrace right now. Sad, sad, sad.

  130. MP says:

    I understand what everyone is upset about. We started in Nov.09
    trying to get a modification. Same thing, faxing and calling. We tried because my husband was retiring and we needed to lower
    our interest rate. Well after all the hassle be were denied. Said we didn’t have; an adverse condition. If you loose a paycheck, is
    that not an adverse condition? Well, he is retired, let’s see what happens now.

  131. barbara says:

    You were right who said this article and Chase Bank are fucking bullshit. We started asking for a mod in Jan 2009, by Sept Wamu told us we were approved, then they wouldn’t return our phone calls, then we had to re-submit over and over and over to Chase. In Jan 2010 our loan, after paying for fiver years, went into the adjustable and the interest now was 3.1%, but Chase refused to lower the interest. After several letters they lowered the interest, but refused to lower the PAYMENT, even though we had a hardship, my husband being a drywall contractor and his work dried up, but they refused. Now we are in foreclosure. They started foreclosure without giving us a chance of a mod and lied about the CA code 2923.5. We put $225,000 down,paid over $100,000 in interest over five years, and now Chase can take our home for $8,000. I am 70 years old and wake up vomiting every day. I really believed Obama would be for the people, but he is a fraud, with Timithy Geitner and dining with head of Chase and other big banks. We no longer have a democracy, but an oligarchy. We have a rental where we put $40,000 down that is owned by Freddie Mac. We were put into forecloure even though the property is worth $40,000 less than what we owe and we were trying to get a mod. I found out that WAMU had sent a copy of our purchase contract to the appraiser, so he could bring it in on the money, the loan was predatory, the assignment of the trustee was done after they started foreclsure and other fruad, but Freddie Mac refused to even look into the fraud and refused to stop the sale. We stopped the sale one hour before the sale. These crooks deserve to be in jail, but Obama has them in the White House with him, in bed. This whole transfer of wealth taking more homes that Hitler or any dictators ever got away with. Now the Rebublicans will take away your Social Securtiy. We are doomed.

  132. mms says:

    we all need to sue Chase bank, yes i mean it. Let’s get on the courtroom, news etc… Chase has enough money already so it should not win!!!!!

  133. RJ says:

    UPDATE………Nothing is happening with my modification or that of any of my clients’. Chase’s new game is to request the same documentation over and over and over again reapeatedly for YEARS with nothing being done. Chase is also granting mods to people who are playing the system and do not really qualify or need the mod while those of us who do go without remedy. The other culprit in this is Bank of America who is, I dare say, worse than Chase, slightly in this area. Also, newly started, the banks are refusing to deal with attorneys who are hired by Borrowers and are seeking to “cut deals” with the Borrowers directly. Everyone in this country is entitled to legal representation. What is up with this new twist wherein the banks REFUSE to deal with the person you hired to represent you?!?!?!?!?!?
    Anyone looking to get a mortage my advice is BEWARE and DO NOT, repeat DO NOT go to Chase or Bank of America.
    The beat goes on…………….

  134. Chris L. says:

    Hello Folks, I’m back as promised.

    I just wanted to give you our end results of this terrible train ride with Chase. Recap:
    On 1/13/10 posting, I mentioned our ordeal with the Loan mod. On 1/18/10 posting, the sage continues.
    On 3/1/10 posting I mentioned why banks wants us to foreclose/short sale.
    On 7/24/10 posting our loan mod was approved but an increased payment of $700 more. Then a balloon payment after 20 years. Remind you that it was interest only loan. We declined signing the loan mod and pursue a short sale.

    Now the short sale process was even a terrible experience. Our loan are both 1st and 2nd with Chase. Chase immediately force the 2nd to collection. Now since we are already in contract to a short sale the 2nd loan when back to Chase. Also, our credit report showed that the 2nd loan had a zero balance and indicated written off as a lost. Now this happened within 90 days. Anyway, since we had a buyer in contract all that went away. Now…. here is the problem. We went through 2 buyers before Chase can approve our Short sale. The main problem is the BPO price. Chase had a very high BPO which turn away our buyer. But, our agent had to justify the we can only get $X and not what Chase believe it should shows. Now after extensive research, I figure Chase can go up to 90% of BPO. In fact, we had to write another letter letting them know if that is possible. Well, frankly after 9 months of Short Sale process Chase approved it. But, it is not over. Anything can drop prior to closing. Get this, we received the approval 10 days prior to the end of the year. Chase wanted us to close escrow before 12/31/10. There was NO way Title company and both agents can complete the paper. Chase added a $64/day late fee after the 12/31/10. Again another fight with Chase to extend the close of escrow to 1/15/2011 since this was the normal 30 days to close. And, not 2 weeks. Also, the holidays was another down turn.

    As I found that Chase wanted us to close because of California Senate Bill 931 (new law effective 1/1/2011) which states the banks can’t go after us even it the loan was a refi. However, SB931 doesn’t cover the junior loan. That is another story in it self.

    Anyway, we were able to close escrow 1/15/2011. Free from Chase for now. However, the junior loan is what I’m worried about.

    Let’s hope that in California the ‘One Rule Action’ applies since the first and second was with Chase. Also, there was payment to the second from the short sale and that it wasn’t a Heloc loan. So maybe we have a fighting chance. But, well see.

    Folks, hang in there. After going through this ordeal, I’ve learned not to trust any banks. Just look after the most important thing is yourself and your family. A house is just a house. A home is where you and the family comes together even if it is small.

    Take care and God bless you all.

  135. Lewonce K says:

    I have been denied 5 times by the GREAT chase and I have applied for the 6th time and after continuing to read blogs, It has frustrated me. My Attorney told me that Chase and Bank of America is the hardest to get loan mod….WWWOOOww. I am so with all of the prevoius post, calling getting to talk to one person and the next on says they haven’t received. I am so flustered with all of this. I am waiting for a denial for the 6th time, becasue if it is approved I am afraid of the terms. This is a nightmare what can we do? Gov’t Yeah Right!

  136. Lewonce K says:

    I have been denied 5 times by the GREAT chase and I have applied for the 6th time and after continuing to read blogs, It has frustrated me. My Attorney told me that Chase and Bank of America is the hardest to get loan mod….WWWOOOww. I am so with all of the prevoius post, calling getting to talk to one person and the next on says they haven’t received. I am so flustered with all of this. I am waiting for a denial for the 6th time, becasue if it is approved I am afraid of the terms. This is a nightmare what can we do? Gov’t Yeah Right!

  137. RJ says:

    Hi all,

    Well, as I’ve said, I handle loan modifications for a living and speak to many banks on many files for clients and I can unequivocably agree with Lewonce K that CHASE and BANK OF AMERICA are the MOST DIFFICULT, UNREASONABLE banks to deal with and it appears that both these institutions do not want to give ANY modifications to their borrowers. They invent new procedures, rules, etc. and just plain out and out stall the process. Then complain about how overworked they are AND let’s not even get into the amount of errors commiteed on behalf of their representatives who work there; half of them sound illiterate and I have no idea how they got jobs at these institutions. Still waiting on a modification applied for almost 2 years ago; got a sale date on my house for April. This is not a complicated case and I have provided all information in a timely fashion to Chase and keep in constant contact with them every two weeks. Why is this taking so long? Can you people spell S-T-A-L-L? I’m wondering though why are the banks stalling so long, what;’s gonna happenin the future that THEY know about and we, the poor consumers, don’t. Hmmmm.

  138. Roland O. says:

    Just got a divorce on jan3 and I would like to keep my house for my kids through a loan mod since now I only have half my pay. I’ve read all these posts and I’m afraid to start anything with Chase. I’ve tried refinancing with Chase with the same results as all of you.

  139. chet says:

    hello , call your local bank and ask them to help you , they can get you into contact with someone higher up, until you get someone to help you , be nice on the phone and do it everyday until you get help , write down ehat time day , you know the deal , just be nice , open a file , the main thing to remember try to stay calm and work with your bank, ask who can help u, stay on top of this , don’t give up, someone in the bank will try to help u.

  140. Chris L. says:

    Well I’m back. After declining the loan mod (cause the terms were more than we can afford) and successful 9+ months short sale in 1/2011. Remind you it all took over 3+ years to end up with Chase collection PRS to come after us for the 2nd loan.

    Yes, Chase is asking the full amount on the 2nd.

    Let me give you some background. At the time of the approval letter of the short sale, before signing, we asked what the terms will be on the 2nd loan? Chase said they will contact us after the short sale. So we were left with either signing the approval with the condition they will contact us on the 2nd or lose the short sale and the buyer will run once again. So, we signed the letter hoping that when they do call us that it will within reason to what we have to pay.

    After 4 weeks from the close of escrow short sale, we get a call from PRS collection. Indicating we have to pay the full amount. I said that I need to seek legal advice.

    We don’t have money for legal advice and we don’t have any assets since we don’t have a home anymore and all our reserves has been exhausted. We still have other credit card debt to pay. I don’t want to file for bankruptcy. If I knew this was going to happen, I should have just filed for bankruptcy since I will still have the home (I think).

    We can NOT go through this again with CHASE. Enough is Enough.

    Will there be any help for us and for others in the same boat. The government is helping the banks. Who is help us?

    God help us!

  141. RJ says:

    Well I have finally after almost two years been denied a modification by Chase who says my investor, Freddie Mac, does not give modifictions. WTF???? It took them 2 years to find this out? And I thought Freddie Mac WAS a government mortgage along with Fannie Mae. This does not smell right. I now have an April SALE DATE on my home. Will be fighting this, continually.


  142. RJ says:

    Chase gets to lie to the poor unfortunate people who really need modifications. First they are Customer Service representatives then next week that pers on is your “Relationship Manager” then that same person becomes your “Relationship Manager in the EXECUTIVE OFFICE” which by the way has the same telelphone number as Customer Service. Please be advised that your Relationship Manager/Customer Service Rep./Homeless Unemployed Schlub Off the Street Day Laborer Reject/ can be changed to another of these illiterateRelationship Manager/Customer Service Rep./Homeless Unemployed Schlub Off the Street Day Laborer Reject every other week whose main and sole purpose for said is to STALL YOU, CONFUSE YOU, KEEP YOU A** AT BAY AND DRAG THE WHOLE PROCESS OUT GIVING YOU NOTHING, REPEAT NOTHING just to show our Government that the Bank is ‘working with you toward a loan modification’.

  143. RJ says:

    Chase gets to lie to the poor unfortunate people who really need modifications. First they are Customer Service representatives then next week that person is your “Relationship Manager” then that same person becomes your “Relationship Manager in the EXECUTIVE OFFICE” which by the way has the same telelphone number as Customer Service. Please be advised that your Relationship Manager/Customer Service Rep./Homeless Unemployed Schlub Off the Street Day Laborer Reject/ can be changed to another of these illiterateRelationship Manager/Customer Service Rep./Homeless Unemployed Schlub Off the Street Day Laborer Reject every other week whose main and sole purpose for said is BANK to STALL YOU, CONFUSE YOU, KEEP YOUR A** AT BAY AND DRAG THE WHOLE PROCESS OUT GIVING YOU NOTHING, REPEAT NOTHING just to show our Government that the Bank is ‘working with you toward a loan modification’ and to keep the foreclosure attorney the giant Steven J. Baum in the lifestyle he has become so accustomed to thank to the huge amount of foreclosures. Let’s not even mention the slug sucking mortgage brokers and real estate agents making millions off of foreclosure and short sales while ya’ll suffer and lose the homes you’ve worked so hard to build and own.

  144. Joshua Rascon says:

    Just got denied for my home modification today.Thanks chase i will in a short sale or just losing my house.

  145. Debra says:

    I was about to have a nervous breakdown trying to get papers together in 3 days for Chase for Mom to do a modification. I felt that PMI was pressuring her and started researching all the fraud Chase is committing. Two years ago, WAMU/Chase shredded a $5k certified funds check and it took 3 months to find out. I went to the closest Chase an hour away when they told me to with the cash to replace the check and they wouldn’t take my money!!!!! So I MAILED it to AZ and they did take it…. So much for driving 2 more hours. A year ago, they claimed we were 4 pmts behind when we weren’t even one…. MORE of my precious time on the phone to straighten out!!!! They are trying to foreclose and giving me totally different balances, putting late charges and NSF charges that have no reason to be there, etc, etc. I saw hearings today and know what they did to our military. I told them before in a certified letter that I contacted the OCC and lodged a complaint… It worked, so I’m going to do it again. They supposedly bought our mortgages for pennies on the dollar. They aren’t getting my house!!!! Contact your attorney general. The one here in TX is doing something about this nightmare!!!! It’s comforting to know we can do something if we bombard our reps and we are not alone. It’s brought me to a calmer place, so I can stand up to these monsters! Good luck all!!

  146. michele says:

    I am looking for individuals to join me in a potential Class Action lawsuit against Chase Bank for violating my home owner rights and failing to follow Home Affordable Modification Program (HAMP) guidelines. Ifyou were approved for the trial period,live in new york state made all of your scheduled payments on time, andthen you were denied for a modification, please contact me.
    joejoe1815 @ gmail. com