[CHANLY]

Since my last post I found out the modification was declined. I then called Chase to get some info on foreclosure dates and it was suggested that I reapply for a modification again, which I did in Dec. I then found out that it was declined again and I waited to hear from them on the foreclosure. I had a hearing on March 12 to propose a sale date. I called to find out the outcome and was told the hearing was cancelled b/c the plaintiff failed to give me 20 days notice of the hearing. Sooo, the lady at the law office asked me again if I had spoken to Chase about a modification b/c she said there were new programs from Obama and my loan is Fannie Mae. I looked online to see the criteria and realized that my previous attempts to modify could have possibly been denied b/c I was not living at the house (due to divorce, it has been vacant). I took a leap of faith and decided to move back in so that I may be considered for the new program. I called to reapply, gave the financial info and income based on my last tax return and the guy said that I did not qualify for being considered for mod. After a very lengthy discussion w/ him, where he told me they might consider if I put down $18,000, etc. I realized that when I called in before I hadn't listed a $325 car payment, b/c it's technically in my dad's name. When he took off that payment it went through. Very interesting considering he was playing around w/ my income, putting in as much as $1000 more per month and it didn't. I have not crunched the numbers to see what the income/debt ratio was but still am not clear on why taking that off made such a difference. I am now waiting and was told to call back in 2 weeks for an update but it could take as long as 90 days for a response. Even if you meet the criteria could you be declined for the new plan?? I'm not sure I get it. I'm also not clear on the 105% house value. does it have to be more or less than that??