Loans, Debt & Credit - View Single Post - Anyone finalize after the 3rd mod payment w/ Chase?

determined1 · 09-17-2009, 11:22 PM

Famelena Id have to agree with you.

I called one of the Homeownership Centers to see if I could go in and discuss all of these other options they state I have. The rep said that I could not meet with anyone because I was in the HAMP program. I said what if I want something permanent now and want to know what programs Chase offers she still said no. She said that everyone is put in a trial program first at Chase. If its forebearance first then it is followed by a 3 month trial of some sort whether its Chases version or the HAMP. She said their main goal is to determine if the hardship is permanent or not. She said the longer they can watch your situation the easier it is for them to detemine if your hardship is permanent. What?!

I asked her if she thought 10 months was sufficient time to determine a hardship and she said no it depends. Then she mentioned how the HAMP just started in March so it was actually less than that.

So heres my thinking...HAMP starts in March, no one really on the 3 month trial until May/Jun. You make payments Jul,Aug, Sep. Deadline for tax filing Oct (reminder Chase wants a copy of your 08 returns)...they extend for oh 60 more days Nov, Dec for whatever reason they want. Guess what? Time to provide Chase with your 09 W2s...this is a viscious cycle.

The odds are that for most of us our situations are going to change whether for better or worst. And when it does Chase will be right there to hand you your denial.

By the way, did you guys know that there are about 3/4 versions of that intro letter that comes with your HAMP package? Oh yes, they can provide those letter to whoever they want. Go to hmpadmin.com and look at the servicer docs.

09-17-2009, 11:22 PM	#37 (permalink)
determined1 Senior Member Join Date: Mar 2009 Posts: 116 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Anyone finalize after the 3rd mod payment w/ Chase? Famelena Id have to agree with you. I called one of the Homeownership Centers to see if I could go in and discuss all of these other options they state I have. The rep said that I could not meet with anyone because I was in the HAMP program. I said what if I want something permanent now and want to know what programs Chase offers she still said no. She said that everyone is put in a trial program first at Chase. If its forebearance first then it is followed by a 3 month trial of some sort whether its Chases version or the HAMP. She said their main goal is to determine if the hardship is permanent or not. She said the longer they can watch your situation the easier it is for them to detemine if your hardship is permanent. What?! I asked her if she thought 10 months was sufficient time to determine a hardship and she said no it depends. Then she mentioned how the HAMP just started in March so it was actually less than that. So heres my thinking...HAMP starts in March, no one really on the 3 month trial until May/Jun. You make payments Jul,Aug, Sep. Deadline for tax filing Oct (reminder Chase wants a copy of your 08 returns)...they extend for oh 60 more days Nov, Dec for whatever reason they want. Guess what? Time to provide Chase with your 09 W2s...this is a viscious cycle. The odds are that for most of us our situations are going to change whether for better or worst. And when it does Chase will be right there to hand you your denial. By the way, did you guys know that there are about 3/4 versions of that intro letter that comes with your HAMP package? Oh yes, they can provide those letter to whoever they want. Go to hmpadmin.com and look at the servicer docs.