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As Steve’s salary dwindled to nothing, the Danielses tried to modify the loan on the only house they had left.
They had a trial loan modification that lowered their $5,200 monthly payment to $3,000.
But after making three payments, no one from JPMorgan Chase & Co., which managed the mortgage, would send them the paperwork to make the loan modification permanent.
“They just don’t return calls,” Steve said. “I’ve called them 10 times. We’re filling out the paperwork again now, for the fifth time.”
With no paperwork for a permanent modification and no income, Steve and Lisa stopped making any payments, sending them into default.
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