Comments on: Did Chase Stop Loan Modifications? http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/ - Free Mortgage, Auto and Student loan Calculators by LoanWorkout.org Wed, 23 May 2012 16:08:16 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Sheila http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-31331 Sheila Wed, 25 May 2011 02:08:04 +0000 http://loanworkout.org/?p=3365#comment-31331 I would like to know if anybody can tell me how to do the calculations to get approve for Chase, they go by the Gross income which is crazy as that is not what we bring home. I send my papers 3 times and it was cancel because a paper was missing and now I have to reapply. I am going to send them again, but I want to know, do we have to be in the negative base on our gross income for them to even consider it. I would like to know if anybody can tell me how to do the calculations to get approve for Chase, they go by the Gross income which is crazy as that is not what we bring home. I send my papers 3 times and it was cancel because a paper was missing and now I have to reapply. I am going to send them again, but I want to know, do we have to be in the negative base on our gross income for them to even consider it.

]]> By: Laurie http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-22022 Laurie Tue, 26 Oct 2010 00:11:30 +0000 http://loanworkout.org/?p=3365#comment-22022 Pete, I am sorry I didnt reply to this sooner, I did put my phone number on one of the postings above. Thank you for the congrats, I hope you are still in your home and are still fighting the fight ....it CAN be won. Pete,
I am sorry I didnt reply to this sooner, I did put my phone number on one of the postings above. Thank you for the congrats, I hope you are still in your home and are still fighting the fight ….it CAN be won.

]]> By: Pete http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-21209 Pete Fri, 16 Jul 2010 06:15:12 +0000 http://loanworkout.org/?p=3365#comment-21209 I have a Chase Loan and I have tried twice to get a loan modification and have been denied twice. I am in the fifth year of my 7/1 ARM interest only loan and have never missed a payment. I am able to make the current payments but I'm sure I will not be able to make the payment once the loan resets in two years. The first denial I recieved I was told we did not make enought to quailify for long term solution. I was shocked since I my wife and I make a pretty good living. Here is the kicker the second denial I was told that we make too much money (Keep in mind I took a 3% paycut and my wife took at 2% pay cut from the first time we tried) , we have not missed a payment, and the loan has not reset so right now we do not quailify. The rep acutally told me to try again in two year when the loan reset or to consider a short sell. What kills me is that up to the denial the second time I was given every impression that a modification was going to be possible. I don't know how Chase employees live with themselves. Laurie, congrats!!!!!! If there is any further advise you can offer on how you won I would appreciate you posting it. I have a Chase Loan and I have tried twice to get a loan modification and have been denied twice. I am in the fifth year of my 7/1 ARM interest only loan and have never missed a payment. I am able to make the current payments but I’m sure I will not be able to make the payment once the loan resets in two years. The first denial I recieved I was told we did not make enought to quailify for long term solution. I was shocked since I my wife and I make a pretty good living. Here is the kicker the second denial I was told that we make too much money (Keep in mind I took a 3% paycut and my wife took at 2% pay cut from the first time we tried) , we have not missed a payment, and the loan has not reset so right now we do not quailify. The rep acutally told me to try again in two year when the loan reset or to consider a short sell. What kills me is that up to the denial the second time I was given every impression that a modification was going to be possible. I don’t know how Chase employees live with themselves.

Laurie, congrats!!!!!! If there is any further advise you can offer on how you won I would appreciate you posting it.

]]> By: Doris E.Hayward http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-21096 Doris E.Hayward Fri, 25 Jun 2010 17:51:14 +0000 http://loanworkout.org/?p=3365#comment-21096 Subject: 4th request and they still won’t modify OUR/HER loan. Doris E. (mother) good credit score; and Doris S. (daughter) bad credit score) We applied for a 1st time loan on our property that had no Mortgage. We applied for a $63,000.00 Mortgage. We both signed the loan papers, about 25 pages. We received the check with both our names on it. We cash it, and made improvements on our jointly owned house. A year later, Doris S. got laid off; I have been trying for almost 2 years to get Chase to modify this 10.875% interest rate. We applied for this modification loan back in April 2009. After sending everything that they needed to process the modification loan back in April 2009. In November 2009, they asked me again to send the same paper work. I sent the same material papers on two different occasions. Back in November 2009, They told me that I, Doris E. (mother) didn’t live there) I said yes; I know that and the Loan Officer that was assigned to us for the loan also knew that I didn’t live there and that’s why they have a different address for me. I called them back around January 2010, they said send me a copy of the check that bared both our names, which I also sent a copy of that check back in April 2009. I asked my daughter to deal with them because she is borrower too. She sent letters explaining her problems and gave them again all her financial information for a 3rd time. Eventually they contact me on 3/16/10.They said the loan was made to me (mother) Doris E and because I didn’t live there; I was denied. I immediately said that can’t be. She was a borrow too, as well as me; Cause we both took turns signing the loan papers – page by page. On separate lines and chase consolidated her debt for pay off. They again said that I was denied the modification loan because, I, the mother didn’t live in the house at 19 South 59th Street. I said, the loan specialist knew that I didn't live at the house. My daughter who was sitting right beside me, signing these papers, I told them thahat they knew I live in Brookhaven; they knew I lived in Brookhaven, Pa., because they said “where do you want the statement sent.” I said send it to me at 280 Bridgewater Road, Apt A15, Brookhaven, PA 19015. and that is the address that the statement comes to from the beginning. Chase Mortgage only objective was to get the loan. My daughter was a borrower too and she should be able to get a loan modification for her hardship as well. Now that she is laid off, they do not want to help her. She is receiving unemployment and it is hard for her to make the payments. I copied all the loans paper that bared OUR names and they states: “Doris E. and Doris S as Borrowers”. My Daughter name is through-out the loan papers. Then he said, (Paul) Chase Representative, I don’t see her signature on the paper work. I said, I don’t see Chase either. I don’t have a signed copy of the loan paper because the loan officer did the loan transaction at our house and didn’t have a copier with him. $63,000 with a 10.875 % interest rate. Why wont you help her. That loan officer that came to our house –knew that I didn’t live there. She needs help -I need HELP or advice from someone who can help me get my daughter a lower interest rate. P.s. If she signed all those papes, and she had to sign the check. Why wasn’t her name listed as borrower too?? Doris Hayward 215-451-1998 Ps. My Daughter has been unemployed for a over a year and desperately needs this modification to this loan – 10.875%. As of 6/25/10 her unemployment compensation has stopped. Subject: 4th request and they still won’t modify OUR/HER loan.

Doris E. (mother) good credit score; and Doris S. (daughter) bad credit score) We applied for a 1st time loan on our property that had no Mortgage. We applied for a $63,000.00 Mortgage. We both signed the loan papers, about 25 pages.

We received the check with both our names on it. We cash it, and made improvements on our jointly owned house. A year later, Doris S. got laid off; I have been trying for almost 2 years to get Chase to modify this 10.875% interest rate. We applied for this modification loan back in April 2009.

After sending everything that they needed to process the modification loan back in April 2009. In November 2009, they asked me again to send the same paper work. I sent the same material papers on two different occasions. Back in November 2009, They told me that I, Doris E. (mother) didn’t live there) I said yes; I know that and the Loan Officer that was assigned to us for the loan also knew that I didn’t live there and that’s why they have a different address for me.

I called them back around January 2010, they said send me a copy of the check that bared both our names, which I also sent a copy of that check back in April 2009. I asked my daughter to deal with them because she is borrower too. She sent letters explaining her problems and gave them again all her financial information for a 3rd time.

Eventually they contact me on 3/16/10.They said the loan was made to me (mother) Doris E and because I didn’t live there; I was denied.

I immediately said that can’t be. She was a borrow too, as well as me; Cause we both took turns signing the loan papers – page by page.
On separate lines and chase consolidated her debt for pay off.

They again said that I was denied the modification loan because, I, the mother didn’t live in the house at 19 South 59th Street. I said, the loan specialist knew that I didn’t live at the house.

My daughter who was sitting right beside me, signing these papers, I told them thahat they knew I live in Brookhaven; they knew I lived in Brookhaven, Pa., because they said “where do you want the statement sent.” I said send it to me at 280 Bridgewater Road, Apt A15, Brookhaven, PA 19015. and that is the address that the statement comes to from the beginning. Chase Mortgage only objective was to get the loan. My daughter was a borrower too and she should be able to get a loan modification for her hardship as well.

Now that she is laid off, they do not want to help her. She is receiving unemployment and it is hard for her to make the payments.

I copied all the loans paper that bared OUR names and they states: “Doris E. and Doris S as Borrowers”. My Daughter name is through-out the loan papers.

Then he said, (Paul) Chase Representative, I don’t see her signature on the paper work. I said, I don’t see Chase either. I don’t have a signed copy of the loan paper because the loan officer did the loan transaction at our house and didn’t have a copier with him.

$63,000 with a 10.875 % interest rate. Why wont you help her. That loan officer that came to our house –knew that I didn’t live there. She needs help -I need HELP or advice from someone who can help me get my daughter a lower interest rate.

P.s. If she signed all those papes, and she had to sign the check. Why wasn’t her name listed as borrower too??

Doris Hayward
215-451-1998

Ps. My Daughter has been unemployed for a over a year and desperately needs this modification to this loan – 10.875%.
As of 6/25/10 her unemployment compensation has stopped.

]]> By: Laurie http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-21083 Laurie Wed, 23 Jun 2010 21:40:58 +0000 http://loanworkout.org/?p=3365#comment-21083 Ok, I am finally here to say, I did it, I have a final, permanent loan mod. signed, sealed, delivered, and in effect as of June 1st, 2010. It may seem like it is impossible to get through the process, I know I felt that way many days.....but I did it....on my own....I have a new loan agreement...2.75% for the next five years....it goes up 1% every year after that until it hits 5.75% interest, than it is fixed at that rate for the duration of the loan. To those of you still on the rollercoaster, dont give up because they have worn you out, keep fighting, if you have any fight left in you. The only thing I believed in during this whole process, was me, and what was right...not what they told me...not what they sent me on a daily basis....I wasnt going to let them win because I couldnt take anymore....and I am still in a state of shock...but I won....what was right won.....and the impossible...is possible. Even though I was raised an atheist....I believe in God...so God be with all of you fighting this fight. Ok, I am finally here to say, I did it, I have a final, permanent loan mod. signed, sealed, delivered, and in effect as of June 1st, 2010. It may seem like it is impossible to get through the process, I know I felt that way many days…..but I did it….on my own….I have a new loan agreement…2.75% for the next five years….it goes up 1% every year after that until it hits 5.75% interest, than it is fixed at that rate for the duration of the loan. To those of you still on the rollercoaster, dont give up because they have worn you out, keep fighting, if you have any fight left in you. The only thing I believed in during this whole process, was me, and what was right…not what they told me…not what they sent me on a daily basis….I wasnt going to let them win because I couldnt take anymore….and I am still in a state of shock…but I won….what was right won…..and the impossible…is possible. Even though I was raised an atheist….I believe in God…so God be with all of you fighting this fight.

]]> By: Kris http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-20753 Kris Tue, 18 May 2010 20:10:51 +0000 http://loanworkout.org/?p=3365#comment-20753 I have been working with EMC~Chase for over one year now. Finally I have qualified for a permenent loan modification, however the overall reduction is only about $100.00 a month as far as I can read it. They put all of the past due into the loan. These documents of course came while I was out of town until 5/13 and they were due to be signed and returned by 4/19. I have tried to no end to connect with someone regarding my questions on my modification. The person I had worked with four months ago is no longer around and I just am getting the complete run around and now collections is again calling me. The documents did not express that unless signed and returned the offer will be canceled. I just would like to know if there is an internal limit on this. My documents as well give a number to call if you have questions, however this is just the general number and the representatives do not know where to send you. Bottom line does anyone know if I do not get these documents back am I in jeporady of foreclosure or being denied future loan modification programs. Maybe I will send the documents back in their overningt envelope "Un~Signed and ask someone to please contact me. I have run out of options as I have been calling since I received my documents. Good luck to everyone. It is tough to go it alone and I would reccommend going to any events in your area to talk to someone in person. I am in an area where there is no Chase Center so all of my work has been via the phone and fax about 5 times over. Best! I have been working with EMC~Chase for over one year now. Finally I have qualified for a permenent loan modification, however the overall reduction is only about $100.00 a month as far as I can read it. They put all of the past due into the loan. These documents of course came while I was out of town until 5/13 and they were due to be signed and returned by 4/19. I have tried to no end to connect with someone regarding my questions on my modification. The person I had worked with four months ago is no longer around and I just am getting the complete run around and now collections is again calling me. The documents did not express that unless signed and returned the offer will be canceled. I just would like to know if there is an internal limit on this. My documents as well give a number to call if you have questions, however this is just the general number and the representatives do not know where to send you. Bottom line does anyone know if I do not get these documents back am I in jeporady of foreclosure or being denied future loan modification programs. Maybe I will send the documents back in their overningt envelope “Un~Signed and ask someone to please contact me. I have run out of options as I have been calling since I received my documents. Good luck to everyone. It is tough to go it alone and I would reccommend going to any events in your area to talk to someone in person. I am in an area where there is no Chase Center so all of my work has been via the phone and fax about 5 times over.
Best!

]]> By: Laurie http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-20726 Laurie Sun, 16 May 2010 07:57:40 +0000 http://loanworkout.org/?p=3365#comment-20726 I just wanted to give an update on my loan modification situation with Chase. I am still pinching myself to make sure its not a dream, I had been in the loan mod. nightmare for so long. I recieved a my third loan mod papers on Apr.8 2010...the first one they turned into a 2 year nightmare...the second one I wouldnt sign because they raised my principle by 18,000.00...and I didnt owe that much..the third one I signed and returned, and I actually recieved the paper work back signed by them...Wow...finally a signed sealed, delivered, and delivered back loan mod....its at a 2.75 interest, my first loan mod. was at 3.00 interest, but they screwed that one up, in fact when I finally went to the excecutive group...the gentleman there said what a disaster my case had become. Anyway I really just want to say...if you do your research, and you decide you meet the criteria for someone who should and could save their home... if you didnt buy a house beyond your means, if you had or have a hardship, that with the right loan mod...fair to you and fair to Chase.... you would be able to fulfill your end of a fair agreement and you believe with all your heart that it would be unfair for whatever reason for you to lose your home...DONT GIVE UP!!!! Dont let them break you...they almost did me. I was actually able to get a friends loan mod with Chase completed as well...So it can be done. I am still willing to share what I learned and how I got it done. 760-489-9261 I just wanted to give an update on my loan modification situation with Chase. I am still pinching myself to make sure its not a dream, I had been in the loan mod. nightmare for so long. I recieved a my third loan mod papers on Apr.8 2010…the first one they turned into a 2 year nightmare…the second one I wouldnt sign because they raised my principle by 18,000.00…and I didnt owe that much..the third one I signed and returned, and I actually recieved the paper work back signed by them…Wow…finally a signed sealed, delivered, and delivered back loan mod….its at a 2.75 interest, my first loan mod. was at 3.00 interest, but they screwed that one up, in fact when I finally went to the excecutive group…the gentleman there said what a disaster my case had become. Anyway I really just want to say…if you do your research, and you decide you meet the criteria for someone who should and could save their home… if you didnt buy a house beyond your means, if you had or have a hardship, that with the right loan mod…fair to you and fair to Chase…. you would be able to fulfill your end of a fair agreement and you believe with all your heart that it would be unfair for whatever reason for you to lose your home…DONT GIVE UP!!!! Dont let them break you…they almost did me. I was actually able to get a friends loan mod with Chase completed as well…So it can be done. I am still willing to share what I learned and how I got it done. 760-489-9261

]]> By: Sarah http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-20192 Sarah Sun, 21 Mar 2010 23:02:04 +0000 http://loanworkout.org/?p=3365#comment-20192 Andrew, Thanks for the site. I'm filing a complaint. I've been working with chase for 3 1/2 years on modifying my loan- on and off of payment plans. I made my 8th trial payment on March 1 and on March 19, 2010, I received a letter that said I was not approved for the modification. I'm so tired of each rep telling me something different everytime I call in. I'm not sure what to do next. I have a 2nd baby coming in less than 6 weeks and it would be nice to know that I'm safe in my house. :( Sarah Andrew,
Thanks for the site. I’m filing a complaint. I’ve been working with chase for 3 1/2 years on modifying my loan- on and off of payment plans. I made my 8th trial payment on March 1 and on March 19, 2010, I received a letter that said I was not approved for the modification. I’m so tired of each rep telling me something different everytime I call in. I’m not sure what to do next. I have a 2nd baby coming in less than 6 weeks and it would be nice to know that I’m safe in my house. :(

Sarah

]]> By: Andrew http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-20134 Andrew Tue, 16 Mar 2010 07:12:51 +0000 http://loanworkout.org/?p=3365#comment-20134 Folks you can file a complaint against Chase with the Treasury Dept. I did and Chase was informed of it. If everyone who has a gripe with Chase about loan modification does it might get them to actually do something. Numbers help. PLEASE do so. It is on the right of this page "filing a complaint" then again on right "Online customer Complaint Form" again PLEASE FILE A COMPLAINT www.helpwithmybank.gov Folks you can file a complaint against Chase with the Treasury Dept. I did and Chase was informed of it. If everyone who has a gripe with Chase about loan modification does it might get them to actually do something. Numbers help. PLEASE do so.
It is on the right of this page “filing a complaint” then again on right “Online customer Complaint Form” again PLEASE FILE A COMPLAINT
http://www.helpwithmybank.gov

]]> By: SARAH R http://loanworkout.org/2009/03/did-chase-stop-loan-modifications/#comment-20063 SARAH R Tue, 09 Mar 2010 21:18:20 +0000 http://loanworkout.org/?p=3365#comment-20063 GINA - I'm in the process of trying to get a loan modification done on my loan too. If you have direct numbers, I would greatly appreciate them. My email is: sarah@askdanap.com GINA – I’m in the process of trying to get a loan modification done on my loan too. If you have direct numbers, I would greatly appreciate them.

My email is:

sarah@askdanap.com

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