Emc loan modification application

[Marie T]

Hi Maxie, quick question.....just received voicemail from saying they did not get my first fax so good I re-faxed it. He said they would look it over and get back to me. I am really in and out, and not usually able to talk when I am out, so did he set up a time to call you back and discuss or how did that work?

I am now so worried that I will miss "the call" but totally impressed that he called back to let me know he got my fax..... very considerate!

[Marie T]

Originally Posted by Marie T

Hi Maxie, quick question.....just received voicemail from saying they did not get my first fax so good I re-faxed it. He said they would look it over and get back to me. I am really in and out, and not usually able to talk when I am out, so did he set up a time to call you back and discuss or how did that work?

I am now so worried that I will miss "the call" but totally impressed that he called back to let me know he got my fax..... very considerate!

Okay ...I meant to say "received voicemail from Kevin Winn"...good grief!!!

[MAXIE19]

Hi Marie:

I made sure I only gave NACA my cell # and so we communicated by phone and by email for the most part. You may want to bring this to his attention, if there is a time that works best for you.

[Marie T]

Hi Maxie - okay, thanks!

Any news on yours yet or did they give you any idea when they might hear back from Chase?

[MAXIE19]

Nothing yet, Marie. Called the sup rep 2 days ago and also emailed her. Have not heard back so far. Will call back today.

[MAXIE19]

Update:

Got a call from the supervisory rep today. She heard from the underwriter yesterday who said that my file is still being reviewed.

Here is a summary of the message she left on my voice mail:

Your file has now gone through the preliminary calculations and it looks like we may be able to help you. However, there is a lot on your account that needs to be evaluated and it will take some more time to accomplish. She cautioned that there are no guarantees, however, my application has not been denied at this time and so this is good news. She said she will probably not hear again from the underwriter until the end of next week and she will give me a call when she has updated information.

All I can do now is to keep praying and hoping that with the 3 "Ps": *Prayers, *Persistence, and *Patience, things will work out in the end. It has not been easy, but I have tried to maintain a positive attitude throughout this process. It is not the bank's fault that I signed on to an obligation that due to circumstances beyond my control, I can no longer honor. I am not approaching this process with a sense of entitlement and I am more than appreciative of all the help that I have gotten from this forum, NACA and Chase.

[chasepmt2hot-firefighter]

Maxie19 I feel the same way. It will be a blessing from God if we can complete this mod. and put the misery behind us.

[Marie T]

Hi Maxie,

That is good that it is still being reviewed. I sure hope they don't keep you on pins and needles too long!

I still have not heard back from Kevin..... my appointment I had made with NACA before talking to Kevin was at 1:00 but they later sent an email that they were overwhelmed and could not call me.

I also saw on another thread that their computers are down all weekend so maybe they are upgrading and that would be a good thing!

In the meantime, I have decided to enlist the aid of an attorney but won't highjack your thread with all that as I already posted on mine.

Have a great weekend and thank you...I can always count on something positive and calming coming from you!

[Marie T]

Hi Maxie ~ I hope you had a relaxing weekend as I didn't see you on the forum....please check my new thread I just posted as it may affect your mod too...Marie

[MAXIE19]

Hi Marie:

I had a wonderful weekend. Thanks for asking. Hope yours was nice as well. I responded on your other thread about the everchanging rules that we have to deal with in this process. Take care.

[Marie T]

Hi Maxie..

any word yet? I am watching your process as I think it parallels my situation....not that I would expect Chase to be consistant...

I have left messages for Kevin at NACA but can only imagaine how busy he must be so not surpised he has not called back.

The last time I checked the NACA website on Friday, my file had gone from submitted (all the info was wrong anyway) to unavailable so they did something but who knows what?

[MAXIE19]

Nothing yet Marie. I hardly hear from my rep until I call or send her an email which usually prompts her to check with the underwriter. In the message she left on my voice mail two weeks ago, she said she is sure she will probably hear from the underwriter prior to the end of last week, of course, last week came and went, and I did not hear from her.

To be honest with you, one part of me wants to know what their decision is, the other part is not too eager to hear from them until sufficient time has elapsed for them to simultaneously consider my NACA app which was submitted on 8/24. Would really like that process to go through since NACA's proposal is better.

Don't have the funds to pay this month's mortgage either. Waiting on some funds that have not come through yet. The life of a self employed person. To make matters worse, the fall months (made worse by the bad economy) are usually very bad for my husband's business and I have run out of savings to make up his difference. We will be late for the first time in 3 and a half years. With the little funds I have, I have concentrated on making sure there is sufficient food in the house to feed three growing children and taking care of their day to day needs. I just paid into their cafeteria accounts for their school lunches ($200.00), and then signed them up for soccer and basketball programs at their elementary schools ($110 for each program for 8 weeks). They have been begging for several weeks and I just did not have the heart to keep saying "No" to them. In the past, these were minuscule amounts for someone who made an average of $15K a month on her own. The story is different today. Every dollar now counts. I find myself saying "no" to the children so many times during the day for their usual little demands that I am sure they are now catching on.

My husband is not taking this whole process well. He has been complaining of headaches every day lately. He has also been threatening to let go of long term employees so that he can pay his mortgage. Catch 22. Without the employees, his production numbers will go down drastically, affecting the income.

I have been keeping my spirits up by reading my Bible every day and finding meanings therein to help me hold on. Without my faith in God, do not know how I could have even made it this far.

[Marie T]

Hi Maxie,

I am sorry to hear that NACA still does not have an answer for you from CHASE. I finally had a voicemail from NACA yesterday...they said they are aggressively pursuing getting an answer from Chase but I have no idea what ....if anything they have submitted. They said they would probably have an answer by the end of the month. I am now 3 months behind and going on four.

I am sorry that you are now going to not be able to pay too. It is really rough....when I missed the first payment I was beside myself as I had never in my life owning six houses ever even been late with a payment.

I pray constantly too and that is helping...trying to stay positive and I have my good and bad days there.

[Marie T]

Hi Maxie,

I started a new Chase thread in the NACA forum as I think that will be helpful to us Chase (WAMU or EMC also) people as otherwise the NACA area is dominated by B of A and Countrywide. I posted my lastest saga there.

I miss your upbeat postings and hope all is well with you!

[MAXIE19]

Thanks Marie for checking in with me. Still here, waiting patiently for some news from Chase. Still have not paid this month's mortgage. Hoping to pay it by Monday the 28th. The funds that I was waiting for have not materialized and so, I had to take out cash advances from some credit cards. Still trying to stay current. Can't risk the banks raising my rates, doubling my minimum payments and slashing my limits. Struggling to pay what I owe now and so will definitely not be able to pay if I were to find myself in such a situation. Additionally, having the credit cards at a time like this has been a Godsend. I have been making ends meet with them thus far while waiting on a definitive answer on the mod request.

Bank put a hold on the funds, half to be released tomorrow (9/25) and the rest on the 30th. The problem is that I programmed the payment to go out on the 28th and do not know what will happen if the entire deposit has not been fully credited by then. Not going to worry about that now, hopefully things will work out.

I do have a question for you though. Noticed something strange. After, I became late this month, Chase started calling me a few times a day starting from last week Friday, the 18th. They also called on Sat and on Mon. However, since Monday morning, I have not heard a peep from them. I check my caller ID everyday and they have not called since Monday. Is there any significance to this or is this normal for them to call a few times and then stop calling. I am curious as to this pattern since this is my first time being late.

[franklyspeaking]

Maxie, I've been late with them for the past 2 years on and off. In the beginning they call but they may have noticed your trying for a mod/working with NACA and stopped calling. one time for 3 months they never sent a letter or phone call and I was six months behind! They are backed up ,count that as a blessing. As you may or may not have read alot of the "proposal received from servicers" were incorrect and an error created by an IT guy at NACA who called me personally (after I sent the higher up's an email) to say he was sorry for what happened. They were trying to help the servicers by noting the files with documents needed etc but it changed all the status's incorrectly (for most anyway,you should still check to be sure). Hope this finds you well. I too am waiting like u for some good news.

[Marie T]

Good to hear that at least you have not been denied yet!

I was in the same boat at the beginning of the year...using cash advances on credit cards to pay mortgage....robbing Peter to pay Paul! I really wish I had started the mod process back then but I did not even know there was such a thing as loan modifications then.

As far as the phone calls, I have not had one collection phone call from WAMU since about August 8 and that was the date of the letter Chase FedExed to me as part of the pseudo "trial payment plan" to me I received September 9 that I was supposed to sign and get back to them by September 1. I am getting really worried as I have enough money in my account right now to pay the payment but I also have NACA working on it since Chase's trial payment is $700 more than my payment was before and there is no way I can continue to pay it moving forward.

Before the August 8 date of their trial payment letter, I was getting calls from them about every day....from 7 in the morning til 9 or 9:30 at night and even a lot on Sunday. I noticed the calls really accelerated when I wasn't here to answer them over one weekend.

I am wondering if your calls have suddenly stopped, maybe it means they have put an offer together for you and if they put that in the computer, the calls would stop. I understand since I was really nervous when the calls stopped too. I get calls continuously from the three credit cards I'm not paying so that's plenty!

[MAXIE19]

Thanks Marie and Frank. They may have been just taking a break because they have called twice today, already. I do however have an update though, please see below.

Update:

Got an unsolicited call and a voice mail message from the supervisory rep from the Executive Office overseeing my file, yesterday. Here is the message she left on my voice mail.

"Hi Ms. _______, just wanted to let you know that we have completed our initial review and we have submitted your file to a manager for executive review. Will call you as soon as I have some more updates..........."

For those who have gotten this far, what stage of the review process is this and how many more levels after this do I go through, if successful at this stage. I tried to call the rep back, but got her voice mail and so was not able to pose these questions to her.

Thanks everyone.

[Marie T]

It looks like you are at least getting some action from Chase so that is a good sign!

I have not gone through the executive office - did you get to that by writing to Jamie Dimon? I thought there would be a conflict with doing that and trying to work through NACA, but do not know.

My husband thinks I am way too cautious about peeving them off and he is probably right. He thinks I should hit them with everything at once from sending them a demand letter re: the extra money they took at closing to sending them a registered letter with all the structural defects in the house so they will know they will have to disclose that to any future buyer. I have also talked to the US Post Office about the mail fraud issue and they want me to file a complaint but unless it will serve to help get my loan mod, what is the point?

[MAXIE19]

You know, I have read about the reported conflict a few times on this forum especially with those who raised the issue themselves. I have also read the stories of others who had concurrent mod applications with Chase and NACA, and had no issues. There is nothing that I have reviewed in any official documentation that describes any such conflict. I started my mod app with EMC in March/April and with NACA in August. Just praying to God for success with one or both applications.

[MAXIE19]

Originally Posted by Marie T

I have not gone through the executive office - did you get to that by writing to Jamie Dimon? I thought there would be a conflict with doing that and trying to work through NACA, but do not know.

Yes, I have been working with the Executive Office since June when I first emailed Mr. Dimon to protest the long delay in my mod process. I sent him a subsequent email after I was denied the first time in early August. I was initially assigned to one of the reps in the EO, however, in the past 6-8 weeks, I have been dealing directly with her supervisor.

I am actually grateful about that, because it has made a huge difference and lends credence to a passage I read in the Bible a few days ago. "He gives you favor and compassion in the eyes of others" Daniel 1:9.

I believe my God has allowed me to find favor and compassion in the eyes of the supervisory rep that I am working with. Something in my connection with her has allowed me to appeal to her both as a mother and as a Christian. Because she has some clout in the office as a supervisor, she has been doing everything in her power to push my case through and pretty much insinuated last week that but for her efforts (I would like to insert, but for my God), the file would have been denied.

This is why I believe that it is important to maintain a positive attitude and to be respectful at all times while dealing with the lenders. You get a lot more with a carrot than with a stick.

So still praying and waiting.

[diana0806]

Maxie, i totally agree. It has been a journey for me for almost 2 years. God has put this supervisor in my path for a reason. That reason hopefully is saving my home. We will prevail!!!!!!!!!have a great weekend. I have play outside with my 3 kids.

[MAXIE19]

Have not posted in a while. Nothing really to report. My file was submitted to a manager for executive review on 9/24 through the Executive Office, and remains pending. Called for weekly updates since that date. The supervisory rep appears to be doing everything she can to expedite matters including seeking the assistance of her own manager over two weeks ago in an effort to reach out to the executive review manager. She is not sure why it is taking so long which is why she sought the assistance of her own manager. She said it is either due to the sheer volume of files that the executive review manager is working on or the complexities of my case (size of loan and two self employed people). She noted that this is the first time that a loan of this size assigned to her unit has made it this far to a manager for executive review (apparently the final stage in the approval process). Other files of similar loan sizes never made it this far in her experience.

I have continued to intensify my prayers. Very pleased to see that my dear husband has been praying really hard as well not just with regards to our loan modification process but with regards to his business (always slow during the fall/winter period) and all other aspects of our family life. To be honest, he is praying harder than I am these days. Going through this stressful process has been a blessing in disguise. For a long time and like most women on this forum, it seemed like I was fighting this house saving battle on my own. It is no longer my battle alone. I am still the only one dealing directly with Chase since I am the sole borrower. However, it is so nice to see him fighting along with me. While I am fighting and appealing to the human powers to be, he has taken up the fight of seeking the divine intervention of our Heavenly Father. I truly believe that we have made it this far by God's Grace and will have a testimony to tell when this is all over.

[bighousebt]

Any more news here..? I just got my denial letter from EMC.

I just received my denial letter yesterday from EMC a subsidiary of Chase. This is after I spoke with someone last week who - on the phone told me that I was denied because I had at least 3 months of mortgage payments in my savings. Thus - my assets were too great. Then the letter I received states that my income exceeds the max for the lending program and that my hardship is not of a permanent nature. Then the letter states that if I am delinquent - that they may be able to offer me an alternative to help avoid foreclosure. I am not in a situation where I cannot pay a payment. But that payment is a negative am and a 2^nd that is interest only. Seeing as my house has gone down in value $300K – this is not a rational loan. I went through a divorce and had to get my ex-husband off the loan. I went with the best option with the ability to re-finance this month (3 years). Due to the downturn – that is not an option for me at this point. What are my options? I am a single mom with a good job and I just need some help to stay above water. If I cannot get this worked out then I will lose everything. My house, my credit, my son’s confidence… What do I do?fficeffice" />>>

[litehouse01]

Maxie 19.. I feel the same without pray and devine intervention I would be a lost soul... The Lord will see us thru...his will be done