Can I pursue prior mod from Chase...?

[mwebster]

ok~~my story is posted over in the Chase thread as that was who my original mortgage was with..but that is no longer the case and a new issue has come to surface and think is the place I should be....
So, long story short..I had requested a loan mod with Chase in Jan "08..nine months later I was approved for 3% for 5 yrs, 5% for 1 yr and 7 % for the life of the loan, on Aug 22. On Aug 24 I received a letter from Specilized Loan Servicing, saying they were now my servicers. No prob, I thought, my mod when thru and will transfer with the loan..... WRONG! Because the Chase mod was not executed, it was in fact not transferred. (SLS said they would honor it if I could get the executed copies) I tried to no avail, placed a formal complaint with the OCC against Chase and worked with executive office. Time was not on my side (my house was going into active foreclosure on Nov 18) and applied for a loan mod with SLS, which was granted within the month, tho the terms were not as favorable..7% for life of the loan. Then two weeks later Chase sent a letter stating the docs were sent to SLS.
Then in Jan, we found out my husband would not be getting raises or commissions due to the economy and we have been robbing Peter to pay Paul since. Then the Obama thing came into play--which I am not eligible for, but called SLS anyway. The woman in loss mit felt the Chase mod should have been "no questions asked" and "that it wasn't my fault it got transferred" in the 11th hour and she would need to speak to her VP. Well the VP said no because of the loan mod already granted by them. I would not have had to do a loan mod with them if I'd known the Chase docs were on their way....but they really had us backed into a corner!!
DO I have any recourse concerning the original loan mod thru Chase? We are now in the same position we were where we cannot afford these mort payments.

[mwebster]

Ok.....I could be beating a dead horse here, but I truly believe that not only we were the victims of predatory lending (but past the three yr statute of limitations), but that I MUST have some sort of legal issue with Chase not honoring a mod and/or selling it to a new servicer WHILE it was in progress of a mod.
While I have had good luck on the 2nd with SLS (I settled it for 10%), I am wondering if it would be worth my time and money to see a lawyer regarding this issue. SLS will not modify the 1st..it is currently at 7%, because we are sitting right at 31%, yet it still remains a struggle to keep up with this payment which is $1258 interest only (UGH), not including taxes or insurance.
I got a "flyer" in the mail that Homeowners Relief Center can get me 3.5% fixed for 30 yrs, but at a cost of $2500. Scam? Probably!!!
Any advice would be greatly appreciated... thanks

[Paul Molinaro Esq.]

NO LEGAL ADVICE HERE - JUST GENERAL INFORMATION - ANY SIMILARITIES TO ANYONE'S ACTUAL SITUATION IS JUST ONE HECK OF A COINCIDENCE.

In my best blue collar comedy accent... When a loan mod shoppe promises exact numbers, you might be seeing a RED FLAG.

As to lenders doing loan mods... again and again I say... in general, lender are under no obligations to do loan mods... borrowers do not have a right to a loan mod... lenders rarely (as in lottery state numbers rarely) give balance reductions... and as of this post's date, probably more often than not, loan mod companies are not being upfront about the lack of successful loan mods that occur.

- Paul

[mwebster]

Thanks for getting back to me Paul...
I realize that lenders are under no obligation to grant loan mods, and my problem isn"t that SLS won't modify (well, kinda)~ but can they..meaning Chase..say "Approved", then say "Pysch..we were just kidding, because we sold your loan to someone else"?
PS...think I'm going to pass on that $2500 loan mod.. I've done three by myself and it didn't even cost me that much to do all of them put together, plus what could cost them that much???