Loan Modification Forum - LoanSafe.org - View Single Post - Chase mod

rtaibi · 05-26-2009, 10:45 PM

I have been working on my mod since November 2008...haven't made a payment in seven months and am now in default for about 70 days. I have on Option ARM with WAMU...owe $610K, house is worth $450K.

I am told that a negotiator will be assigned soon. Should I wait?
I have just enough saved to reinstate my loan...about $21K.
I want to keep my house but am afraid they will foreclose if I don't reinstate.

I see some people on here that have not made payments for much longer. Any advise?

Customer service reps keep telling me they won't foreclose. I don't think I should trust them.

Sooo frustrated and drained from this process...

05-26-2009, 10:45 PM	#80 (permalink)
rtaibi Junior Member Join Date: May 2009 Posts: 1 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Chase mod - Story so far I have been working on my mod since November 2008...haven't made a payment in seven months and am now in default for about 70 days. I have on Option ARM with WAMU...owe $610K, house is worth $450K. I am told that a negotiator will be assigned soon. Should I wait? I have just enough saved to reinstate my loan...about $21K. I want to keep my house but am afraid they will foreclose if I don't reinstate. I see some people on here that have not made payments for much longer. Any advise? Customer service reps keep telling me they won't foreclose. I don't think I should trust them. Sooo frustrated and drained from this process...