Old 07-25-2009, 02:32 PM   #1 (permalink)
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Nearly 90 days late - should I make a payment? Awaiting loan mod Chase for 4 months!

Hello,

Thanks in advance for any responses! Long story short. I filed for a loan modification through Chase on 3/21/09 and still do not have a response. I will be 90 days late on my mortgage payments on 8/2. I don't know what to do. Should I make a payment or hold off until the modification request is processed? Right now no NOD has been filed. We want to keep our home. I have just sent an email to Jamie Dimon's office at Chase.

Loan Details:
5/1 ARM Interest only payment + forced escrow for back taxes puts our payment is at $4044.00 ( I am paying $875.00 per month for taxes in escrow)
Homeowner's Insurance- $90.00 per month
Interest Rate: 6.995%

The house is at least $250,000 dollars upside down (Southern California)
Nearly 90 days late.

I have an appointment with an attorney on 8/4 but that won't help me to determine whether or not I should make a payment to avoid going 90 days late. Please advise.

Sincerely,
Hopeful


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