Over in our free loan modification forum, a member and client of Chase said that they have temporarily halted all loan modifications. Did anyone else here this?
diana0806 diana0806
Senior Member
Join Date: Aug 2008
Posts: 121
Re: All Chase Modification on Hold!!!
Yes, i was told the same thing today. But i was told they will compare what they will offer to obama plan and give you the best deal. All foreclosures on hold. All should check with there reps. On holding foreclosure. I do not trust chase. That is from my experience. We will prevail!!! Good luck!!
Re: All Chase Modification on Hold!!!
rollertom rollertom
Member
Join Date: Feb 2009
Re: All Chase Modification on Hold!!!
I need to call Chase tomorrow. I have yet to get a call but I am FHA and his plan does nothing for me. (that I can see)
{ 51 comments… read them below or add one }
This is confirmed that all Chase loan mods are halted, indefinitely.
They told me the same thing. Well my loan is with Nationstar and I call to find out wheter it was a fannie or feddie, the guy told me I was with Chase. Stunned me! I aske dabout modification and he told me that all modification was on hold untilthey can get things together with the Obama plan.
Apparently there a re quite a few lenders who have said this. I’ll keep you all posted and I assume there will be more details next week.
I have been told that Chase is bank owned and that the Obama work out plan may not apply, but that they will try to work out the same plan.
Thats great. Please keep us up to date here or on the forum at http://www.LoanSafe.org. Good luck!
In loan mod process since November 08 we are finally at the last step and 4 days ago they told us that we had to wait until they rolled the new Obama plan out and today she called and said Chase was going to offer their clients the option of opting out of the Obama plan and in that case we would close our loan mod in the next 5-7 days. The Obama plan offers no interest only/ only principal and interest so those of us that need some serious help for a hardship wouldn’t get much of a break under the new plan. I guess it depends on your circumstances. You can still get a Loan Mod with Chase you will just need to Opt out of the Obama Plan.
been working with chase on mod 55,000 loan 1200 a month 11% in for 30 years won,t work we me on lowing payments or % which is at 11%
I have been working with Chase since September of 2008 and still nothing has been done. This week they tell me that all modifications are on hold. I have done everything Chase has asked for and they still keep postponing a decision. Chase seems to want people to foreclose. Don’t be fooled by there so-called good intention for customers. Its just a lie.
I’ve been in the process with Chase since December/08. I am just now getting the modification terms sent to me. It’s impossible to reach your analyst working on your request. Good luck to us all!
Great news and congrats!
I was trying to get my loan modified since last summer. Finally got the new loan docs few days ago fixing the interest rate to 4.75%. I guess I should be happy about it but at this point when the value of the house dropped 60% and we are $200K under watter I am not quite sure if it’s worth keeping the house.
How do I get the loan modification started? I am $100K up side down and I am not sure I will qualify as I’ve heard they only speak to people who are 10% under water. Any tips and/or advice?
also have mod in with chase as well as a stupid company the loan modification group…don’t fall for these jokers!!! got more info from chase, they have stated that under the Obama plan there is a new software tool that they have to install into their system and they do not know how long that will take, whatever the hell that means… been working on my mod since 12/08 if i hear 60-90 days again i’m going to loose whats left of my mind.. i’m nearing 120 days they are all full of s— also flipflpoed on my mort, i did speak to someone that was actually nice at chase who did say they do want to help and do not want our homes
I have trying to speak with the rep who supposedly is handling my case! This person apparently has had my account since Nov 08, nothing! nothing! nothing! I have called to many time to mention, and i get the same response.. “she will contact you within 72hrs”..
It is extremely hard to get a hold of someone there at Chase…
Good luck people. This is what they do. I got my paper work that said there are no fees involved and it won’t go against your credit. Well, I got my paper work 4 days ago and they tell you nothing about how your loan is being modified. Plus, my mortgage is $1975. They wanted me to pay $1814 by April 20th and then make my regular payment by May 1st. I called and talked to them and it turns out that I would have to pay the $1814 and my mortgage payment for the next 3 months to even be considered for the program, which they won’t explain what it does for you, or it will go against my credit. The $1814 doesn’t go towards the mortgage either. It is put into some other account to see if you qualify for the modification or it pays your late fees and such if you have been late.
That sounds like a $5400 dollar fee to me. Plus, you have no idea how they are going to help you AND if you don’t qualify for the program, you DON’T get that money back! What a joke.
I haven’t been late on a payment yet but I know I can’t afford to make two. My wife took a pay cut to keep her job so we called to start the process early.
I feel so bad for you all in a worse situation than mine. Good Luck!
You are better off giving the house to Chase. They are ripping people off. I have to pay $1814 for the next three months ON TOP of my regular mortgage payment to even be considered. If you don’t make it into the program, you don’t get that extra money back, nor does it apply to your mortgage.
I wish a Chase representative was here with me now…..I would hand over the keys…..as much as it hurts my pride to do it.
Well this scares the heck out of me I don’t know what Obama plan you all are talking about but I was told for the one I needed to qualify for I had to miss at least one payment. Now hear this I sent in my last payment to my lender and they sent it back tried to make it on line and it was out of service now I am two payments behind, get the picture, just found a website called ripped off and a lot of people are having the same problem from Option One or AHMSI Servicing. I went through a loan modification 2 years ago with them that was a nightmare only to find out that they are one of the ones that Obama refered to as a predatory lender the ones that ask for a fee up front and then drags it out to add up all kinds of fees. So I am seeing an attorney on Monday, I have never heard of a lender refusing to accept payments before have you?
So what happens if you have a WAMU loan that is being taken over by CHASE? What about the forensic document audit? I know I have violations of RESPA for sure but not sure how serious they are. Does anyone know a GOOD attorney in Colorado who does this?
Here the link for Wa mu clients. Follow the instructions carefully. Make sure you fax in all documentation they require. Anything less will prolong the flow.
https://www.chase.com/ccpmweb/chf/document/Borrowers_Assistance_Form_WaMu_2009.pdf
Been working with Chase since feb of 09.
Only been in the house for one year. But, husbands income has dropped due to economy. Chase told us that we did not qual for the loan mod because husbands income is mainly based on commissions. Well they seemed to be ok with counting commish as income when we APPLIED for the loan but it doesn’t count when modifying. Also here is the kicker… They raised our payment because not enough was escrowed. Nice… They are not helping anyone.. Now I have an attorney hopefully this will be done with once and for all.
I spoke with a rep today (my loan is with EMC, owned by Chase) and she said they anticipate that they will start processing loan mods in early June. Waiting for guidance on Obama, etc. She looked at my paperwork and told me what she needed updates on (bank statements, pay stub, etc) and mentioned that priority will go to anyone whose paperwork is 100% complete and updated. She also asked that I call and stay on top of it since they are inundated and therefore slow to contact customers.
If you want to make sure yours go through make sure your ducks are in a row and your updates are in.
I tried working with Chase since October of 2008 when hurricane Ike hit and I was laid off. They said I wouldnt have to make a payment for 3 months but at the end of 3 months they wanted payment IN FULL! Impossible! I eventually hired Hope Now Modifications because no one at Chase would or had ant knowlegde of what was going on. So I paid someone $1,500.00(HOPE NOW) and Tuesday my home was sold at auction. I will be homeless soon! I got a job 2 days ago and am completly capable of paying for my house now but since it is a commision job + salary chase said nah we cant help you. FUNNY HOW COMMISION WAS OK TO BUY THE DAMN HOUSE!!!Hope Now is a worthless company who took my money and sat there for 3 months doing nothing but calling me once a week to tell me they would call me again in 1 week. They waited until the day before auction to work on my case. IT WAS TO LATE! Chase is a joke as well! BEWARE AND DONT EVER USE A 3RD PARTY NO MATTER WHAT THEY TELL YOU. AND KEEP RECORDS OF EVERYTHING THE IDIOTS AT THE MORTGAGE COMPANY TELLS YOU!
BEWARE!!Hope Now Custom Modifications changed their name and is now Colonial Financial Solutions
I have been told by 3 different people at Chase that modifications are now on hold. All 3 had different reasons and time frames of when and if loan mods will resume.
The last person I spoke to was from the Executive Team and she confirmed this. The person from the executive team called me because I sent an email to Jamie Dimon stating that I was getting nowhere with a modification with Chase.
The Executive team is basically useless. They are just a little more polite than the regular customer service reps.
Making Home Affordable is a big joke in my opinion and the banks are being allowed to just stall on it.
A Chase analyst told us to stop making payments to qualify for a new program.we have not received the paper since 11/08. Our analyst does not return calls anymore. Chase is a legitimate scam runner.
..I went to a seminar that Chase gave a few weeks ago for the loan modification, also I was contacted by Freddie Mac to assist with process -my question is:if you are 250.00 over when you to your financial statement including all expense and actual mortgage,would they consider the modification process..tks
$250 negative? That means you need a loan modification. If you still have $250 in the positive every month before you get a loan mod, then it may be a bit tougher.
Has anyone with a WaMu loan in Oregon hired an attorney for the loan modification process?
We are 2 payments back, but for now keeping up with payments, but not able to make up those 2 yet…would like to apply for a loan modification but would like to use an Attorney so we don’t get screwed over AGAIN!
House is worth only 75% of what we owe on it, interest rates are 8% (on second) and 6.75& on first…would be happy if they put the 2 past due payments on the end of the loan, reduced the interest rate to 4.75% for both loans and dropped all late charges, I think we could make it then and we would love to keep the house…
Any referrals would be greatly appreciated!
Were is the class action-suite. The only way a bank this size will make change is by being forced to do so. Are there any orgs. out there doing this kind of work?
I have a loan with EMC (Chase) and they just notified us that our loan modification request was denied because we have some savings. I am considering appealing the decision since according to the Making Home Affordable website we meet every requirement for a modification, there is no mention that you are not allowed to have savings.
Chase is not under any obligation to follow Making Home Affordable. It is at their discretion. They have been had me send my loan documention five times. I have proof of delivery but they still say they haven’t received it. After all of this, they will probably deny based on this thread.
Chase also told me they are modifying my loand and my modified amount is 744 dollars now and I should send the check or mo to a certain Chase office and I did as they told me and now they are coming back and telling me that they will no longer do this for me however they cashed the payments I sent them . Is anyone looking into a class action lawsuit?
Chase has finally contacted me even after the forclosure and sale of my home. I was given 3 days to vacate…oh no…so, I contacted a news reporter. My advise, DONT TAKE THE MORTGAGE COMPANIES BS! DO SOMETHING ABOUT IT!!
I have sent documentation 5 Times also to Chase. They keep insisting they have not received, I resend and finally I was told modification was going to be done on Tues. after Memorial day. They no longer take calls. (Voice Mail) permanently full, emails unanswered. I am screwed
So, after the foreclosure and the sale of my home, I am now in the aproval process of my loan modification with Chase. DONT GIVE UP!!
I’ve been waiting on my loan mod since the end of March (faxed in)
They had one piece of info that was missing, I emailed it Apr 1st. Confirmed it April 25th. Called again June 8th and today July 14th to check up on it. Everyone at Chase Loan Mod line has been helpful(as much as they can be).
However, today when I called a rep looked up my info and said it showed I was approved. So she sent me through to the Customer Care and I waited 15 minutes to speak to a rep. She said I had not been approved, and that I was missing info. I confirmed that it was emailed and received back in April. The rep was rude and not helpful. I had to call the Chase Loan Mod line again and have a different rep tell me that I had not been approved. So frustrating!
My husband and I have decided we are going to talk to a lawyer about other options. Our home loan and equity loan payments are current. However we are drowning in credit cards and battling off rising interest rates. Does anyone know if the loan mod will be affected by a bankruptcy chapter 13 or chapter 8 as long as we stay current on our home loan? Our house is worth 10,000 less than what we owe on it. If someone knowledgable could answer that would be great.
Good luck to you!
New info to those who may be confused about why there’s missing info, or nothing happening with your loan mod.
I called the customer care line, asked if my info was current with all information that they needed (almost 4 months after faxing my app). A nice rep told me that while they were changing systems, some files were lost, mine was one of those files. Lucky Day!
I have to refax the entire packet to them, with updated information and start all over again from the beginning. The only good news is that I can file for bankruptcy and still proceed with a home loan mod. I feel like I just got pushed by accident and sent to the back of the line.
However if this helps…
Customer care #800-918-4029
New fax line #866-282-5682 to send your packet to
Shame shame shame on Chase…I have been going through the loan modification nightmare sincer last July. I sent in the modification papers with the good faith check in Nov. It would have been a great deal…if they wouldnt have lost my paperwork..but cashed my check…I was making the monthly payments they were asking me to make and they put me in foreclosure, through persistance I was able to pull it out of foreclosure….but because of their mishandling of my docs..there is always the chance it will go back into foreclosure…I dont know what the solution to this nightmare is but my best advice is document every conversation you have with them, day,time and representtive name, tell them you will be contacting Jamie Dimon, and dont give up the fight, unless of course you start to wonder if the house that has lost half its value is worth the fight, thats where I am at now, but until I decide to give it up…they will hearfrom me everyday, twice a day, on some days.
Good luck to all of you fighting this fight.
I received my loan mod in Nov. at 3% for five years…It was such good news…until I sent the paperwork back with my check…they lost the paperwork…but cashed the check, and applied payments I was making to the months before loan mod went into effect , by the time they updated my modification into the system, I was behind two months, they acknowledge that they dropped the ball, and keep promising they will fix their mistake, but the nightmare continues, they made me reapply 3 times, and have made me jump through hoop after hoop, they put me in foreclosure, and through my persistance they pulled me out of foreclosure. My best advice is to call them everyday, tell them you want to talk to the same person everytime, ask for a supervisors ext. even though you may never actually talk to that supervisor, document EVERY conversation you have with anyone you talk to, the time, the day and what was said, tell them you are documenting every conversation, tell them you will be writing to Jamie Dimon and dont give up the fight…good luck to everyone.
I sent in all my paperwork back in January. they said they never received. sent again in February…same thing. finally after 5 months, in May they said they finally received. then in June they called and said they never received.
then, i was told it would anytime now. i called on 7/20. they said they are backed up and it may take 3 or 4 more months. what’s up???
I am sorry to there nightmares at Chase are still going on…again my best advice is call them everyday…tell them you are documenting every call…tell them you want one person to work on your file, tell them you will talk to only that person. The person I talk to is in the special lending department 866 665 7629. I get the feeling he is as sick of hearing from me as I am of calling, but until I decide to give up the fight…I will call everyday…tell them you want your case accelerated…tell them you are calling Jamie Dimon office. 212 270 6000 and talk to someone in the excecutive office I did that two days ago, they said it would take two days to get back to me if I dont hear from them today, they will hear from me tomorrow. Like I have said they gave me the old we are just so backed up story for months until my house went into foreclosure…even though I was making my payments I feel lucky I was able to pull it out of foreclosure but for how long I dont know…I have called my state reprepresentatative…so far the only good news I have is I am not in foreclosure again…good luck with the fight.
Who are the 138,000 customers who received temporary
payments? I think these people are in forbearance, and will
be forclosed on. I hope the government audits who they approve,
and who they deny. We are current in a full amortization option
arm, and qualify for the government plan, but we have been denied
by Wamu (Chase bank) we were told we qualified, then we were
switched to the department were people could default. My husbands
pay is down by 10 percent, and we are in payment shocks. After
4 months of resubmitting the same paperwork over and over we
were told we do not have a hardship. Our payment is 50 percent
of my husbands gross pay.
The government is practically begging banks to help people, but
the money incentive is not working. The bank would get about
5,000.00 since we are still current, but they are not interested
in helping us…… I filed a dispute, and told the reps. I will dispute
over and over again as long as a breath is still in me!!!!!!! Just
to add our payment is adjustable, so it will go up if they dollar
bounces back, we are in a treasury index……
Chase sucks,that’s the bottom line! October of last year I was approved for a loan mod and it’s been a nightmare ever since! They lie and lie to you,thankfully I have kept notes of every person I spoke to,their name,employee #,time and date of call and what we talked about and their half assed answers! I also tell them at the beginning of each call that I’m recording this conversation,just to mess with them! They think that you are stupid! Every month I get foreclosure paperwork in the mail,I call to ask what’s up and all they say is “It was sent in error” that’s all they ever say!I wish I could find a lawyer to sue Chase? Does anybody know of one? All this BS is so stressful to both me and my family.The best is when you tell them something and they say you are full of it,then you pull up notes,with the date and the name of the person who told you it,they shut up and give you,yet another half assed answer.I could go on and on,if anybody is looking to take these A**holes to court please let me know.Thanks Bill, 484-529-5417 or xterminator88@yahoo.com
Chase loan mods are a joke!!! All they do is lie and lie! They think that you are stupid,thankfully I kept notes of each person I spoke to ,the dates,their extensions,etc… Anybody know of a lawyer that would help,or maybe a class action suit?
THE REAL STORY ON BANKS AND HOME LOAN MODIFICATION – BAD FAITH OF BANKS – BETRAYAL OF THE NATION’S TRUST – SERIOUS ADVICE TO HOMEOWNERS
I wanted to offer some serious advice and a does of reality to those who are suffering the loan modification process. I say “suffering” because it is in general a battle of nerves. (speaking from hard won experience)
The truth is that what is going on merits a Congressional investigation or if possible, a class action lawsuit, (if it can be determined that our taxpayer contribution to the banks gives us some rights of shareholders?) for bad faith on the part of many banks. Their general strategy is to deter, discourage, delay and threaten.
In the mean time, for those in this process, I advise this: notate all communications. Ask a lot of questions and say little. Ask them to clarify things in writing, or inform that you will write down their questions and respond to them in writing by mail or fax. Get the names of the people you are dealing with. Call after you send a fax to verify its receipt. Assume that they will ask you to resend everything two to three times, and try to deny that you send it. If you can get them to admit they received it, they will as a matter of course come back to you in a couple of months (up to four months) and tell you your modification has been denied because it is incomplete, and you must start over again. (They will not request that you send that one month pay stub you forgot.) You must be thorough, meticulous, and relentless to play this game. Remember, they have armies of bureaucrats to trip you up, and collectors to call you in broken English from Pakistan three times a day. (If you have an attorney, you can send a Cease and Desist letter). You must approach this like a court case where the best prepared and most persevering win. This is not a process for the faint of heart, and the banks know it. (one collector threatened to throw a recent window out of her lifetime home in the dead of winter, despite qualifying for a loan modification more than six months ago…sorry, but you may be beginning to get the picture.)
Remember also, if you do receive a modification, you will be asked to go through a three month probationary period with the reduced monthly amount, but may have to make at least one full monthly payment from the past due amount.
My general hope is that a day of reckoning with the Congress and the taxpayers will come for the banks and the dishonest practices, and I encourage anyone in media or the Congress, or anyone who can contact Congress or a major media source to take note of the contents of this letter, which can be easily verified, because the truth is not being told. Why is nothing being done in the Congress about this issue? Why has it not reached mainstream media. The banks have our money, are paying their executives million dollar bonuses, and are not dealing fairly and forthrightly with the taxpayer homeowners who have given them the money to survive. Congress must soon begin to look complicit in this fiasco of giving taxpayer money to private enterprise. (Let’s take it back if they are not going to perform.)
This is a story that needs to get out:
Today CNN reported “Congress is trying to ‘shame’ banks into performing on the home loan modification plan.” Would you loan someone a hundred billion dollars and rely on “shame” to make the other party perform? Would you tell someone you will “make efforts” to help homeowners if they were about to give you a hundred billion dollars? How can a Congress full of lawyers put taxpayers in such an absurd position? Is a class action lawsuit possible as taxpayers are the injured party?
If there is ever a story about the interaction of democracy and capitalism, or socialism and capitalism it is this:
While the Congress is providing failing banks with billions of our taxpayer dollars to help citizens stay in their homes, the banks are using every means to avoid acting responsively and in good faith, while simultaneously managing to pay themselves billions of dollars in bonuses, increasing their own salaries to defeat Congressional limitations on bonuses, and pursuing their usual agendas, all as though the bailout was some kind of no-interest loan that they could utilize however they saw fit in their own interest. The winners? Stockholders and executives. The losers? Homeowners. An inherent conflict of interest for the Board of Directors. How many modifications have been made by the banks? What does that benefit in value to the homeowners represent as a percentage of the taxpayer money provided to the banks?
The economy? To most it is their homes and their jobs.
While homeowners wait anxiously for six to nine months to even hear whether they will receive a loan modification the banks are engaged in the following bad faith behavior:
1) Repeatedly informing homeowners and their attorneys that documents have not been received after those documents have been sent repeatedly.
2) Continually harassing homeowners with up to three calls a day while homeowners are in the modification process.
3) Informing homeowners and their attorneys that internal or external regulations have changed and whole files must be resubmitted.
4) Failing to acknowledge attorney communications to homeowners while attempting to circumvent those attorneys to pump clients for information.
5) Providing no information on status to homeowners for months, and then foreclosing on them.
6) Attempting to offer limited solutions less costly to the banks while homeowners are attempting to request and receive modifications.
7) Denying a modification will be coming through or that it is realistically being considered and threatening foreclosure.
Interviewing any law firm dealing with the banks in this matter will verify the above information. I encourage all homeowners to get the truth out.
Hello everyone, I to have a wamu/chase mortgage loan. I’m now upside down on the value of my house. I was sold a arm loan from a broker in dec. of 06. I’ll cut to the chase here, most of the loans made by wamu/chase in the last 4 or 5 years are full of violations against (RESPA) ( HOPEA) (TILA) and many other laws. The only way you’r going to be able to fight this is to have you’r loan audited by a profesional co. I had mine done, and found over a dozen Violations. Real laws to protect us that were broken! I am not going to negotiat with them for some loan mod, or refie. I have two lawers reviewing my audit as we speak. I already have one that will fill my case against wamu/chase, I’m just interveiwing to find the most agressive lawer now. Stop being a victom get you’r loan audited, I used ( national loan auditors) out of oakland california very good. Got back a very through report. Spend you’r money on a audit, then find a good real estate lawer. The lender doesn’t care about you. they only want to extract as much money as they can from you! Time to turn the tables here. I’ll let you know how it goes Thanks Lynn
I do not even know where to begin with my story. I have been going throught with this loan modification with Chase since January 2009. I have been given the run around , lied to, put on hold, loss $1800.00 with a scandal loan mod. company, and currentley still on hold with no communmication. I am behind approx. 4 months. I have been making payments monthly and Chase has been accpeting it. My husband and I ran into a very bad medical problem with his other. She is very very ill and has no medical coverage. We sent Chase the hardship letter with the proof of the medical bills we had to pay at the time. All we are asking is for them to put the outstanding areas on the back of our mortgage and if possible reduce our interest rate. We sent them our documents 3 times. They stated that I did not qualify for the MHA loan but were gonna try to see if they could give me the Chase Mod. loan. Three weeks ago I received a forebearnce letter from Chase with a so called agreement. The agreement was for me to make payments of over $4250.00 per month ( doubled my current mortgage payments) for 4 months then I guess they would try to lower my payments. Not only did I not ask for a forebearance, but I could never afford these payments. This is out rageous!!! If I could afford this amount per month, I would have never been 4 months behind. I have been dealing with the Chase Escalation Dept. and the young lady that I am dealing with also thought that this offer had to be an error. There is no way on earth that I could afforrd this. I faxed over my worksheet with all of my debt vs my assets, a copy of my paystub as well as my bank statement ( now for the 4th time) . I had the women in the Escalaton Dept. (1-888-310-7995) email (I guess scan) my documents back to the Underwriting Dept. I then received a letter from Chase requesting documents from me again and stated that I might be eligeble for a loan modification. Duh!!! This is what I have been requesting since January 2009. I have been getting the runaround, answering machines after answering machines, and it has cause me and my family so much stress. You cannot imagine what this is doing to my marraige. I am still waiting, scared, confused, and my marraige is on the rocks. Chase does not understand ( or probably does not care) what they are doing to people. The Underwriters cannot be reached, the Escalation Department is limited on what they can do. I need help. I cannot afford to hire someone else to take my money again like the loan modification company I used in West Palm Beach. I pray daily that I would get my loan modifiaction. My husband said ( out of anger, I hope) that if this loan mod. does not goe through he is out of here. We live daily waiting for the FED EX letter from Chase saying that they have put us in foreclosure. I hate what Chase has done to us. They do not reply back. I have the Escalations e-mail address and I email them at least twice a week but to know avail. I tried calling the executive Office in N.Y. but they just transferred me back to the Chase Loan Modification Dept. Please somebody get me off of the Merry-go-round, I am so dizzy.
Everytime I log onto this forum my heart breaks for those who are where I have been, as I have stated in this forum before, I started this loan mod process July of 08, I received my loan mod in Nov, to begin in Dec. 08, I began making my payments and they were accepting them and telling me all was well, in Feb. I went into foreclosure with a sale date of june 10. I have lost weight, lost one client, and at times thought I was going to lose my mind, over the almost daily phone calls to chase. I would be up at four in the morning, to begin the calls and most days felt like I would never get this straightened out, it was affecting me in ways I cant explain in one paragraph, let me just say, I am still in my home,was able to pull it out of foreclosure….and like Bill above I am going to give my phone number. 760 489 9261. I do feel I have something to offer, I have regained my sanity, made some progress and unfortunately even gained some weight back. I have learned a lot on this roller coaster and am willing to share and it wont cost you a dime except the cost of a phone call. Please do not hesitate to call me. I was so stressed out I actually thought of having myself committed because of all the stress Chase was causing me… and the affect it was having on my family. I know this is easier said then done, but hang in there. I did, and I finally realized I was in charge of how this was affecting me. I picked myself up, dusted myself off, and even though the fight is not over..I actually feel stronger than ever, And suddenly I do see a light at the end of the tunnel…and it is not a train anymore…its my porchlight.
Get This! My original loan was with a different company, I started getting paper work that my payments were now supposed to be submitted to Chase Bank. They purchased my mortgage from my original lender w/o my knowledge. I had always been current in my payments before even sending extra money in the event I needed to have it available for future payments. Chase lost a payment! this is where trouble began. I had all the necessary info for them to trace the lost payment. They requested I send no more payments Till they resolved the issue of the lost payment, but to keep in contact. Which I did For three solid months. At the juncture, I was told that I now owed them 3 months back payments + last fees and interest which would not only bring me current bot lower interest payments and mortgage payments. WRONG! Not onlt did they go up-they added $5,000.00 + more to my existing balance AND now we are on the same Merry_go_ Round again the have misplaced another payments and requesting I DO ANOTHER MODIFICATION- and since they have reported me late said I cannot go to my locally owned bank to refinance with another institution. I can only modify with CHASE.
I also am waiting on chase. i submitted my paperwork. i called and they said they had received the mortgage statement, but have not received the line of credit statement. how can that be since i sent both in the same envelope. this time i faxed it. and this time they are saying that they have not received the other one.
what can i do? i need this modification loan.
Everytime I see the word”CHASE” it makes my skin crawl. This bank is heartless and evil. We’ve tried to get our loan modified for 2 years. All we are asking from them was to give a us a fix rate,maybe keep the original rate (6% or less) when we first got the loan. Twice we applied and twice we were denied…because apparently their investors will not approve the loan modification. And we will not qualify on the Presidents plans because we are too far underwater(lost 40% of the house value). Called everyday, faxed like 100 or more paper works..over and over again.
It was a very hard descision to make. We really love our house and we’re planning on staying till we retire,but Chase will not help.They would rather foreclose,take the losses since the loan is insured anyways. I was very hopeful when Obama became president ,I thought I will be able to keep my home since my taxes payed for those BANKS bailout. Anyways,after my husband had a heart attack while talking to a Chase rep(they are extremely rude by the way)..we spoke to our accountant/attorney and decided to stop paying.It’s been 2 months, oh yeah..now they want to help us because we stopped paying. We are ready for that foreclosure notice, the back wants you to spend all your savings and retirement fund on a bad investment(experts says that the housing market has not bottomed yet esp. in CA.). They are too greedy to even help honest people. I know our credit score will take a nose dive but we we got burned too many times to even trust Chase will do the humane thing. Just FYI…if you are planning on doing a short sale, talk to you accountant/real estate lawyer first. Although you wont be paying taxes for federal, you might end up paying thousands of dollars to the state. Also…save your money, keep your cash and use credit unions when your banking.