He and his wife, Yanthy, found out about the foreclosure when the new owner posted a notice on their door Nov. 4.
“I get this notice that says you have five days to vacate the property,” he said. “So I called the number (on the notice) and I say, ‘Who are you?’ and they say, ‘We’re the legal owners of this house. It went up for foreclosure.’ ”
Just days before, the Zerners thought their home was safe. They had finished their trial modification with Chase and were led to believe they would qualify for a permanent modification.
“We paid Chase several hundred dollars, which they accepted in good faith,” said Zerner. “I feel extremely ripped off.”
Chase officials admit they made an error by selling the house.
{ 2 comments… read them below or add one }
I hear from people every other day that tell me they are waiting on a modification while their home is in forclosure. Then a month later the bank sells the property in a auction. If your bank gives you the runaround about a modification after they tell you to stop making payments and keep requesting more paperwork then be aware that you are dealing with a collection agent and not the banker you might picture behind a desk. There are thousands of people every month losing their homes to foreclosure that are also waiting on a mortgage modification.
The mortgage companies are also waiting until their customer are so desperate and scared of losing their homes that they will sign any modification they receive as long as they dont have to move from the home. Why does it take so long to get a loan modification?? My home loan was approved in about a week and they already know everything about me. Why is it taking so long??
_Just sit back over they next few years and see how the rich get richer. Maybe you can take advantage of the market next time around. I wish I had 200k in cash to buy a few auction foreclosures then turn around and make 100k net within a few months!! This is happening every day.
I waited and waited for Chase to help, made the phone calls, sent all the papers, etc. Could not get them to even acknowledge me. I finally gave up. Now I am waiting for them to go ahead and take the house. But it never seems to happen. I haven’t made a payment since April of last year. I am going ahead and moving out because I am tired of this game. They can go jump. Maybe eventually they will get around to selling the place. They don’t seem all that eager. Maybe it is because I am upside down about 200,000 here in Central Valley California with no hope in sight.