Chase/Wamu and Deutsche Bank

[caldwellb02]

Update: another call from the congressman's office. They are forwarding my letter with a cover letter to Geithner.

I am not naive enough to think this will cause them to help me, but if so, great. If not, maybe it helps just getting all of us some attention out there!

Thanks for the idea Bill. I'm gonna wait a couple days and see what perkolates (sp?) up.

[caldwellb02]

No news yet. I did get a message on my answering machine from Penney from the Executive Team. That was Friday a.m and her message was that she had "not forgotten about me" and that she had e-mailed for status. She left the message at 9 a.m.

I will be in default for the first time on the 15th. It's crazy. I have fought hard not to default.

Ah, hope someone here can have good news soon. Also - did you all know Jamie Dimon is on facebook? Looks to be a regular fan club.

Take care everyone.

[Mountain life]

Caldwell:
Good luck. Your tenacity inspires me to continue to fight. Initially on this thread, there were some negative comments about Deutsche Bank being the investor on your loan....suggesting they(Deutsche) are not supportive of loan modifications. I also have Deutsche Bank as the investor on my loan, WAMU, now Chase is the server. My representative from the Executive team said that Deutsche is a good investor to have because they will approve modifications that are approved by Chase. Have you received any additional information supporting the fact that Deutsche may not be a good investor to have ?

[caldwellb02]

Mountain Life - I've heard nothing at all about Deutsche after that first volley. I have talked with SO many people at Chase, but it was in the first few months that the negative info on Deutsche emerged from one of them. I am VERY glad to hear that your rep on the Exec Team had good things to say about Deutsche. On another note - I just got an "urgent" letter from the "imminent default team" saying that i needed to get my information in (the same info I've been sending the Exec team). Unreal. Not sure how to handle it. Anyone out there got ideas? Would two depts. of Chase be working parallel on the same case without talkign with each other?

[caldwellb02]

Somewhere on one of these threads is Jamie Dimon's e-mail. I can't find it. Can any of you help?

[caldwellb02]

I found the e-mail address and sent it to Jamie Dimon. I realized today how draining this has been for me, and How much of my self worth I have given away to Chase throughout this process. I have done everything I can think of. My choice now is to pay the August mortgage and really - I mean really - not have much to live on, or not to pay it. I was making myself crazy because I just like to pay my bills! But I am going into default. They cannot have that money until they work with me on something realistic. I have played their game and I need to take some power back. Worst that can happen is that in a few months they take my devalued house that needs a new roof, and I have bad credit but some money to get a nice little rental.

[caldwellb02]

Update:

- No response at all from Jamie Dimon.
- I am now in default on my loan.
- I called the Executive Team at Chase today to talk with the representative - Ms. Penney Davis - whom I've been talking with sometimes twice a week for the past four months. She told me, and I quote "since we have a contract with NACA, I"m not allowed to talk with you on this case any more." Gotta say that was a strange one. I've been "working" with NACA since April (but have only actually talked with anyone from NACA twice), and Chase acknowledged getting their proposal on June 8. I have talked with Penney at Chase many times since June 8. Something has changed.....

I made a phone appt. to talk with NACA - couldn't get it till next week. When I talked with them three weeks ago there was no change in my case. Anyone else had an experience like this? I'm not sure what is going on or what to think right now.

[caldwellb02]

Update: trying to find out what the contract between NACA and Chase might look like. Still no answers. I never sighed away my right to talk with my lender. I'm posting all over this site to try to see if ANYONE knows what that contract looks like.

[caldwellb02]

Talked with NACA. According to this guy in Kevin Winn's office, none of us should be talking with the lenders if we are working with NACA. Chase e-mailed NACA last week saying my loan mod was denied because the reason for my request was that my son's income tanked, and he wasn't on the original loan. I asked when NACA was going to let me know this, and the guy didn't know. So. NACA says to keep calling them (and staying onhold for forever and ever) and to call with regularity. They say my negotiator will e-mail me in a week or so. this may be predatory lending. I am really really tired of this. It's a nightmare.

[caldwellb02]

Naca's site asked me for some additional info, so I faxed and scanned/e-mailed it. Then they couldn't find it so they asked me to fax it again. Then I faxed the docs that showed my son was on the loan (not new news for NACA). Then they couldn't find it. Then they did. NACA told me yesterday that the negotiator would call me. Today they sent me an e-mail saying they needed me to send them my most recent paystubs. I emailed back and they "found" the fax I sent three days ago. Then they me I need to start ALL OVER AGAIN. I called and stayed on the line for a 30 minute wait. I confirmed with the woman that they think I need to start all over again. She asked me if I would please send in my last months pay stubs. I told her I had sent it. She found them after putting me on hold for awhile. I now have an appointment with a new "homesave" counselor in a week. What is wrong with this picture? Y'know what? Sounds EXACTLY like the runaround I'm getting from Chase. Did somebody put a spell on me?

[Marie T]

when you say start all over...are they defining that to mean start completely from scratch and it will be 45 to 60 days or that they are going to try to use a different angle and maybe a couple weeks for an answer?

[caldwellb02]

It sounds to me like it means start from scratch, although I would absolutely love it if there was a different angle. This isn't a negotiator I'm going to talk to, though, it sounds like its a regular counselor like the one I talked to the first time and she went over my expenses, etc.etc.so - who knows. I won't know for sure until my appt. on Sept 5th. It is crazy-making.

[Marie T]

I found out today that the last round of paystubs I sent NACA, they only got the cover...not sure why noone followed up to ask where the other 4 pages were as each NACA cover page lists the documents you are faxing and how many pages! I think her telling you that if NACA is working with them they can't talk to you is bogus....I had told NACA when I met with them that I was still trying to work through the CHASE Homeownership Center and she didn't say anything.

[caldwellb02]

I agree. The eXecutive team person I was working with only told me she couldnt talk with me AFTER I had e-mailed Jamie Dimon (CEO of Chase). She said her manager told her she couldn't talk with me because of their contract with NACA. I'm getting stonewalled by Chase, and NACA is, unfortunately, not looking much better. They are losing documents left and right.

[caldwellb02]

Moe/Evan... anyone. I'm not sure what to do re: Chase now that I am in default. I sent an e-mail to the Executive Team letting them know, because I was told it was best to be in contact with your lender up front if you were going to default. But now that the Exec team won't talk with me because of NACA, and NACA says I need to start all over again, should I wait till someone from Chase calls me, or what? I know no one has a crystal ball, but what would you do in my situation? Anyone?

[caldwellb02]

I e-mailed the Chase exec team over the weekend about getting a copy of the contract between them and NACA. They said no - that it had nothing to do with anything I signed with NACA and they wouldn't share. They also advised I could reapply should my situation change. I still don't know if I should do this (8 months and counting after I first applied with the information that what is now happening - default - was imminent), or wait for them to call me. I left a message with Kevin Winn at NACA but no answer yet. I don't know. maybe the angels or whatever are telling me to just give up and stay here mortgage-free till they kick me out. I went on the Chase site and looks like my house has gone down another $20,000, so now my second mortgage is unsecured for sure.Anyone have any similar stories? I wish I could change the title of this thread so maybe someone who knows could look at this current question.....

[caldwellb02]

Update. Kevin Winn (NACA) called me. We are not starting over. They are just getting current info and escalating the case. He said the reason chase denied me was "the most ridiculous he had ever heard." keep your fingers crossed for me, please!

[G851613]

My fingers are crossed for you, caldwell!

[MAXIE19]

Caldwell:

Count me in as one of those praying for you. Work with Kevin. He is truly wonderful.

[caldwellb02]

Thanks Maxie. Just to keep this thread current (since it's the one I started), here's a quick update:

I got a written denial letter from Chase. Their reason: "Your hardship is not a permanent situation."

Yep. and tonight I'll win the lotto.

[rachel_p]

Sorry to hear that caldwellb02. I don't think all this modification stuff is working out like the government had planned for it to.

My husband and I are going to have our lawyer make some calls next week and try to pull our account out of modification. We aren't even going to try and do it anymore. I can't handle the constant stress and worry. Plus we are now 6 months behind on our mortgage and CHase is still telling us NOT to pay. I feel like they are setting us up for disaster.

[Marie T]

Rachel.....it seems like if you are working with an attorney you have probably already paid them a fee so why not let them keep working it? If Chase is telling you not to pay and you are getting further behind, that should add even more for your attorney to work with. I was also told in the beginning not to stay current if I wanted a modification, however I did not make a note of who told me that so not sure I can prove it now. Although since they have told so many of us the same thing when we were current, that probably is not an issue.

In the last few days we had decided we need an attorney's help and that was jelled even more when I saw Joanna in Oregon's post yesterday. My situation may be a little different than most as I have a bait and switch predatory loan, don't have to do a forensic audit to find the fraud in my loan so I have that going for me. Even thinking that I could turn this over to an attorney I have felt some of the stress lift. My husband was initially against paying an attorney but he has seen how much this is wearing me out.

[caldwellb02]

Hi all. This is a copy of a letter I will be faxing to the President tomorrow. I will be sending similar but slightly adjusted letters to my congressman and Senators. I'm also sending a QWR to Chase. Not sure what else yet. (I did have more paragraph breaks in my letter, but this site doesn't like too many of them)


In July I faxed a letter to you detailing my efforts to get a loan modification from JPMorgan Chase. I gave a brief summary of my relentless but unsuccessful efforts to get a positive outcome and get the mod. At the time of that writing JPMorgan Chase had denied my modification based on faulty information, for which I then faxed proof to the contrary. They were re-reviewing. I faxed the same letter to my congressman and my senators. Both my congressman and one of my senators have taken some steps to notify your administration that this is going on. Congressman Thompson’s office forwarded it to Mr. Geithner, and Senator Boxer’s office forwarded it to Mr. John Hardage at the office of the Comptroller of the Currency. I have not yet heard from you. On September 5 I received a letter dated August 14 from JP Morgan Chase/Washington Mutual. They said my modification was now denied for a new reason
>>

Your hardship is not of a permanent nature.

>>
I can’t imagine what they know that I don’t know. Nothing that I can think of in this world, other than my death (pardon the morbidity) would be a hardship that could be guaranteed to be of a permanent nature. Someone who lost their job could find one tomorrow. A critically ill child whose medical needs are draining a family’s resources could miraculously recover. Or we could wake up tomorrow and find the markets had recovered and we were not underwater (owe more than our houses are worth). I do not expect these miracles to happen, and although I would love it, I do not expect my son’s ability to pay one half of the mortgages to miraculously appear. I have heard of at least one other person who received the same reason for denial as I did. When I called the Customer Care number the JPMorgan Chase/WaMu provided, I asked what I could do. They said I could write a rebuttal letter. I know you are busy, but I am busy too, and this is of great importance to me. I work well more than full time as a director of a nonprofit, I do service to the community as a board member of my Rotary club, volunteer as a community mediator, and volunteer on numerous committees and councils in my county. I have tenaciously also tried to save my home. I and others like me were incredibly hopeful that your program would work for us. I do qualify for a mod. I make $4100 gross per month and pay $2331 per month in mortgage payments (at least until this month - I am now in default.) I do need your help. This latest reason for the denial of my loan modification is irrational, unreasonable, and frankly ridiculous. I am asking you to assist with some answer as to how I can save my home. I don’t expect to get my home for free. I want a reasonable mortgage that I can continue paying. After 9 months of trying, I am now in default. My credit rating has tanked, and credit card interest rates are going up. My options are drying up and I need help. I can write a rebuttal letter (as the bank suggested), but since I’m not dead, how can I prove that anything is of a permanent nature? What do I need to do, other than resubmit the exact same documents (nothing has changed but the value of my house has gone down another $20,000) and go through another 9 months of drama with them? How will this change anything? Is there anything you know that can assist me? This has been a never-ending nightmare and I am stunned that it is still going on. I truly believed that the administration wanted to help people like me and stop the foreclosure rate, but the power is all in the bank’s hands once again, and for many people, that means nothing but heartache.
>>
I do appreciate that you are very busy, and I’ve never asked for help from my President on an issue before in my life, but I am asking you to work on this – for me and for so many others like me. Thank you so much for anything you can do.

[Mountain life]

Caldwell: Excellent letter, thank youfor taking on the global issue regarding the unfair practices of CHASE and notifying people who could make an appreciable change. Are you current on your loan? I have been current but due to some unexpected medical emergencies and an additional house tax bill I will not be paying this months mortgage. I plan to call Chase tomorrow and advise them that I simply cannot pay my mortgage this month and even though I have been waiting for almost five months for a determination on my modification I cannot continue to pay a mortgage that is over 60% of my monthly income. I think all of us are frustrated and on edge waiting for a decision that never comes........

[caldwellb02]

Hi Mountain Life, and thanks. I have an 80/20 loan, both serviced by Chase. Last month I paid the second, but not the first. (I learned later that was pretty much wasted, as considering the house is worth less than my first, my second mortgage is unsecured). So. I'm in default one month on my first mortgage. I have till the 15th to pay before I'm late on this one. I am toying with paying the first mortgage so technically I'm only one month behind in total. I'm not good at waiting, and less good at the unknown. I don't want to be kicked out of here over the holidays, so paying this month will give me a little breathing room - I think. Crazy it's September and I'm thinking of Christmas, but I love Christmas in this house and just don't want to give it up - ever if I can, but certainly not this year. It has been so stressful this year - I think I need to do this for myself. I know in CA the foreclosure process usually takes between 5-6 months, so even if I don't get the hoped-for mod I think if I pay the August mortgage this month I'll be able to be here till Jan.