Comments on: Are loan modifications forcing homeowners underwater?

By: Ms. Myers

Ms. Myers — Sat, 30 Jul 2011 20:46:26 +0000

Chae Bank, Wall Street, and Washington DC are all tied into the corporate world together. Don’t you people understand the logistics. All of us have been set up for failure it is eminent, because the system is broken, because of greedy corporate theives, who come into the game to play to win. Banks are not in the business to lose. Start shopping with your community banks who are not just about a number, but are more personal and have more to lose. At Chase Bank you are just a number a statistic–get it. The Modification came was invented to keep the home-owner broke, the feds rich, the attorney’s who are in-house and associated with the modification process as well. Modifications are a gimmick-the don’t work. What needs to happen is principal reduction. If more people stop obsessing over a material object that can be replaced and hand the banks back their possession, I bet you then the banks will start principal reduction. Always remember without customers their is not business. More specifically, you can start-over, re-build, re-structure, and buy a less expensive home in 36 months. GIVE BACK THE KEYS IF BANKS DON’T START PRINCIPAL REDUCTION. US CONSUMERS HAVE RIGHTS TOO.

By: jeana

jeana — Mon, 25 Jan 2010 19:17:50 +0000

I think we all need to start a Class Action Suit against banks, they hurry to put you into foreclosure so they can get more money and fees at the end of the loan; The banks got ticked when Obama told them to start making Final loan mods so they said Ok we will but the hidden agenda was to keep adding fees on top of fees the govt and homeowners have to pay at end of loan. They are not helping homeowners they are helping themselves to a Platinum Ticket. Which they received from The bailout plus foreclosed home that appraise for more than they say for when economy comes back and homeowners who are indebted to the banks for life.

By: Marty W

Marty W — Mon, 25 Jan 2010 01:23:27 +0000

I can’t offer any advice, Otis. Just a similar tale with Wells Fargo. They claim I have over $2000/mo surplus but they only look at gross income, not net. My “surplus” is the taxes I pay every month. They offered me a loan modification alright. Only it raised my monthly payment from $1960 to $2348 and increased my interest rate from 6.7% to 6.8%. Their response to all of my questions, “if you don’t like the deal, just reject it”.

By: Otis G

Otis G — Fri, 22 Jan 2010 19:34:17 +0000

I applied for a loan modification through chase bank back in October 2009, as many individuals in these trying times, I find it harder and harder to make my payments. I’ve never been late!, always on time.
I’ve sacrificed necessitates simply to pay the mortgage, I’m self employed and find that might have been the one issue i was turned down for modification.

Within the process of dealing with Chase bank has been extremely bumpy, I submitted all the forms required, they kept
asking for documents I already sent, two, three four times.
When contacting chase via telephone (several times) the conversation starts out friendly, but ends up in a vicious cycle going nowhere, when requesting to speak to a supervisor, one is never available, and then asking for a return call from a supervisor
ASAP, the call is never returned. Three times I was hung up on by Chase bank.
Now nearly four long gurgling months later, I’ve been turned down.
I’m not asking for a free ride, simply a little help to stay in my home.

$75 BILLION DOLLARS was dedicated from the US government to help people like me in my situation, yet Chase bank slapped me and my family right in the face.

I guess Chase bank would rather let my home go into foreclosure then lend a hand.
Anyone with similar circumstances with any advise would be greatly appreciated.