WAMU/Chase; where I am in the process. - Loan Modification Forum

MNdaddy · 07-03-2009, 02:06 PM

Initially fell a few months behind in early 2008 due to business failure. Fortunately found full-time employment, at a salary that would barely cover normal monthly payment and living expenses. Served foreclosure papers in June 2008 but was already in talks with a WAMU negotiator about a "work-out agreement" and was given a 3 month trial, (July - Sep 2008) at the same payment as before I fell behind. I made the 3 trial payments, and then expected to get some kind of work-out package, reinstatement, or whatever you want to call it. I got nothing. Not a word. I called every week for months to check on the status of my loan work-out and heard nothing until March 2009. During that time, I didn't make any additional payments as I was told that WAMU was just waiting on the paperwork, and in that time, WAMU collapsed and became part of Chase.
March 2009, a new negotiator called me and asked if I still wanted to stay in my home, and took all my financials. She called an hour later and told me I would qualify under the "Obama plan" for Freddie loans, and it would entail a new 3 month trial, but this time with a payment about 200/mo lower than the original. So, I was very excited and made the 3 trial payments in Apr,May, and June. Once again, didn't hear anything....
I called today and actually reached my negotiator, and thought it was a miracle that the same negotiator is still dealing with my loan. She told me that they are just overwhelmed and that while they had verified that I had made the 3 trial payments, the "permanent work-out" paperwork wouldn't be ready for at least 2 weeks.
I'm happy they acknowledged that I had made all the payments, but I am torn about whether to send them something this month, as I don't know for sure yet that the work-out will be made permanent. I mean, I have the money to make the payment, but why would I if they could just pocket it and still foreclose?
I'll update this thread as I move further along. I understand that very few, if any, have gone past the trial and into a permanent workout as of yet with Chase.

Evan Bedard · 07-03-2009, 03:05 PM

Hi Mndaddy welcome and thank you for joining the forum.

Thank you for sharing your story. I'm sorry but were not really seeing too many permanent mods being completed yet after the trial period is over. There are many in the forum in your same position so stay strong. Keep us poated on your progress.

classicgk · 07-05-2009, 05:02 AM

Hi MnDaddy,
I'm in Minnesota too...

Foreclosure in Minnesota at least Minneapolis is a fairly long process. At least six weeks for a Sherriff's sale and another six months for a redemption period in a home that is being occupied.

It depends on how good a loan mod you are being offered. And how upside down your home is.

And whether or not you have a Plan B in case they do not follow through.

If your workout loan payment is a reasonable % of your income and it sounds like you have been riding the workout waves for awhile looks like you have nothing to lose by working with them.

MNdaddy · 07-29-2009, 09:27 PM

Well, nothing new to report. Didn't send anything in for July. My trial pmts of Apr, May, and Jun were received, and still my "work out" is "in process" according to my negotiator.
Going to get an appt with a HUD approved counselor to explain my situation and find out my best options. This is the second time I have done a 3 month trial work out and gone into limbo. I'm surprised and frustrated because I have shown twice that I can make the payments, but I go into limbo and fall further behind. I understand many are in the same boat. I'll continue to update as I have news.

MNdaddy · 09-19-2009, 11:02 AM

Update 9-19-09
Well, I had made my trial payments in Apr, May, and Jun, and then played the waiting game. One time I actually got a call back from my negotiator, who told me she had everything she needed and that my loan was with the "monitoring" dept, and to basically just hold tight. I made calls 3-5 times per month. Heard nothing.
Then, out of the blue, on Sept 10, a man came to my door and handed me a slip of paper that said he, at the request of WaMu, was an independent field inspector, and I needed to call WaMu or the Hope Line (that really made me nervous). I called WaMu immediately and was told that my loan is now with a new negotiator, who the service rep said should have already contacted me (she hadn't), and I explained my situation and was told I would hear from them within a week. Well it took slightly longer but today, 9-19-09 I got a call about my modification package, and they said they were missing the hardship affidavit. Well, I had only been instructed to write a hardship letter back in March, and had never received any "package" much less been instructed where to find the documents online, which is what they told me to do today. I explained all of the documents I had sent to my previous negotiator and they insist I need to send this affidavit form. "Gladly" was my response, and I verified that they were still working on the Obama plan for me, and she said yes, this was for a permanent mod under that plan. Of course, I won't believe it until I see it. I can afford the payments under the Obama mod terms they had given me for my trial earlier this year, and am hoping I get to start paying them, with the understanding that I am out of foreclosure. Hopefully that's the case soon. So, I'll send that form and follow up with some calls and see where it goes.

pbharris4 · 09-22-2009, 12:38 PM

I would Express Mail whatever documents they send and require a signature just to prove it was received by someone who works for Chase. Once it's in their hands and you have a signature..there's no excuse but to blame themselves and you have done your part.

rachel_p · 09-22-2009, 01:00 PM

Wow, what a mess. I keep waiting for someone to post that they've had a great experience but that's never the case.

A field inspector? Great...I wonder if they do that to everyone before they give a permanent mod.

You are a lot further in the process than we are. I'm glad you updated.

BudgetCutsinOC · 09-22-2009, 01:16 PM

This is a classic STALL move by Chase. They keep stalling hoping something "positive" will turn out for them! There is no reason for Chase to modify anyones loan. There are getting paid hand over fist through legal back-channel loopholes in the system. Meanwhile we pay them there "inhouse" 3- month trial period while taking our money. Still havent decided whether or not I will make my first trial payment due Oct 1. Might just short sale or walk. I could really care less. What is Chase gonna do,, beat me up! Come and get it!

F. Chase

kgeriak · 09-22-2009, 01:49 PM

Well I feel like I hit the jackpot today. I got a call from Wachovia about my rental property and they would let me know there decision in the next two days. Thought it looked pretty good for a MAP modification. Then an hour later I get a call from the Chase Executive OFFICE assigning a personal assistant to walk me through the modification and he will be my go between with the negotiator. I got two names and email addresses and phone numbers for these people. There personal lines. I have been trying to do this since March and have refiled paperwork 3 times for each bank. Getting extremely frustrated and in August I contacted my Senator and rep. My Senator - Senator Dodd - head of the Finance and Banking Committee in the Senate Contacted me and let me know that he contacted Both Presidents of Chase and Wachovia and the Controller of the Currency to get to the bottom of this. I find it very coincidental that on the same day I got the VIP treatment. They say they have no notes about Sen. Dodd in there paperwork but I would guess he might have had a hand in this. Anyway Today is a good day - let's see if it stays that way or if I am disappointed in the end. We shall see. Wish me luck!

Chased around and around · 09-22-2009, 02:03 PM

Quote:

Originally Posted by BudgetCutsinOC

Might just short sale or walk. I could really care less. What is Chase gonna do,, beat me up! Come and get it!

F. Chase

Good luck on the short sales, we have some short sales in my complex going on 1 year. The banks are not looking at short sale paperwork since they are too busy trying to ruin our lives with this mod mess.

So far no NOD yet, so as I see it I still have another 3 months and 21 days left here rent free...

caldwellb02 · 09-22-2009, 02:57 PM

So Dodd can call the banks and not other Senators? Is that how this works? I'm very glad for you Kgeriak but kinda mad at the same time. I had been told that our congresspeople couldn't directly call the banks. But Dodd can because he is head of the banking committee? Everyone in Connecticut - get movin. Call Dodd. Get him to swamp them with complaints! Really, good luck kgeriak!

litehouse01 · 09-22-2009, 04:25 PM

Well I for one am going to write my congressmen and both senators and give them an ear full. I find it odd that they can host foreclosure seminars and the like in our respective states just to advise of the MHA/HAMP govt plan to save us all...they need to hear the other end AFTER WE APPLY FOR THESES PLANS..its not working!!!!!!!!!!!!! They need to be involved in the congress and senate to get this thing moving..We all need to write our congressmen and senators and apply pressure before its too late....THIS IS A GOVERNMENT PLAN THEY NEED TO BECOME INVOLVED I AM WRITING MY LETTERS TONIGHT AND ALSO ADVISE THEM I WILL KEEP WRITING AND CALLING UNTIL SOMETHING IS DONE I AM NOT GOING AWAY AND I AM MAD AS HELL...ESPECIALLY AFTER TODAY WHEN I CALLED CHASE ONCE AGAIN AND GOT A VERY NASTY INDIVIDUAL ON THE LINE...THE THING CHASE DOES BEST IS RUDNESS AND RIPOFF!!!!!!!!!!!!!!!

famlena · 09-22-2009, 11:03 PM

fyi - i was told by one of the reps that chase has a new system where each month a new analyst is assigned to my file.

i was recently denied a perm mod because of insufficient income. i spoke to the closer inquiring for more details about the denial and come to find out that chase did not take into consideration that my brother's contributing/paying rent to me to share my house. i believe that would be considered income. she said that my case has already been closed and she needed to check with her supervisor to see if they can reopen it. she said there was no guarantees that my file can be reopened. i can't believe i've waited all this time just to have this happen to me. they made an error and may not be able to or want to correct it.

make sure you verify that they have the correct info entered into their system. once the file is closed it's difficult to have it reopened. so be careful. i wish had verify the info with them...

MNdaddy · 09-30-2009, 09:28 AM

9-30-09
It took 10 days to get an answer as to what documents they need from me. Well, Bob, a "supervisor" said that all they need is the hardship affidavit, which I have to download and fill out. I had written, signed, and had notorized, a hardship letter and promise to get housing and credit counseling back in March. But, this wasn't their official Fannie/Freddie HAMP hardship affidavit form so I guess it didn't count.
So, I will paste my original on to their form and send it this afternoon. Bob told me my file will then go to underwriting for my permanent mod. I'm still skeptical, but then again, my financial situation has improved since I fell behind due to a business failure. Have since gained full time employment and can make a monthly payment just fine, but can't come up with $$$ to make up the months I missed. So, hoping for the best...

MNdaddy · 10-02-2009, 10:15 AM

Sent my handwritten (on their form) hardship affidavit on 30 Sept. Now I can't reach Bob, the supervisor that is now handling my acct. Left him multiple messages asking him to confirm that the fax was scanned and put in my file to go to underwriting.
I basically copied the hardship letter I sent to WaMu back in March, and I think it did a good job of explaining my business failure (loss of income that led to late payments), and obtaining a new job (lower income than when I got original mortgage), and that I depleted my savings (to zero) and ran up a lot of credit debt (payments I also can't make), so there is no way I can make up back payments, though I can make the trial payment, and have had two 3-month trials to prove that. Hoping for the best.
Already planning to appeal a denial though. Just seems to be the way they play.

pbharris4 · 10-05-2009, 07:03 PM

Quote:

Originally Posted by MNdaddy

Sent my handwritten (on their form) hardship affidavit on 30 Sept. Now I can't reach Bob, the supervisor that is now handling my acct. Left him multiple messages asking him to confirm that the fax was scanned and put in my file to go to underwriting.
I basically copied the hardship letter I sent to WaMu back in March, and I think it did a good job of explaining my business failure (loss of income that led to late payments), and obtaining a new job (lower income than when I got original mortgage), and that I depleted my savings (to zero) and ran up a lot of credit debt (payments I also can't make), so there is no way I can make up back payments, though I can make the trial payment, and have had two 3-month trials to prove that. Hoping for the best.
Already planning to appeal a denial though. Just seems to be the way they play.

MNDaddy..thanks for the update. I hope it works out for you. Keep us posted. We made our 3 trial payment 2 weeks ago. Chase called us to say they got the payment and it'll be a few weeks. DH asked if they needed any additional paperwork and they said they had everything they needed. Hope this is true and they are actually doign what they say they are. Very skeptical at this point.

MNdaddy · 10-20-2009, 08:16 AM

Got a call today from a new person at Chase. They said they need my affidavit and two most recent stubs. I asked why the affidavit I sent on 30 Sept wasn't enough and he said that they have a "paperless" system which has him pulling up documents online but that he couldn't find it. Amazingly, he has my tax returns and some other docs though. So, I will buck up and send the two most recent stubs and re-send the affidavit and hope for a mod. Not really confident that I'll get one any more even though I can document that I went through a business failure, saw my income go to zero, my savings and credit drained, and obtained a new job with about 50% of the income I had when I qualified for the original loan.

MNdaddy · 11-10-2009, 05:17 PM

Got my perm loan mod package today. I'm going to sign and accept it.
I started a new thread about it.

MNdaddy · 11-10-2009, 07:34 PM

Quick summary of terms as my new thread hasn't appeared on the forum

Yrs 1-5, 2%
Yr 6, 3%
Yr 7, 4%
Yrs 8-31, 5%

Maturity set for 2040; original was 5.875% 5yr ARM set to adjust in 2010 with maturity in 2035.

pbharris4 · 11-10-2009, 08:02 PM

congratulations!!!!!!

07-03-2009, 02:06 PM	#1 (permalink)
MNdaddy Senior Member Join Date: Jul 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	WAMU/Chase; where I am in the process. Initially fell a few months behind in early 2008 due to business failure. Fortunately found full-time employment, at a salary that would barely cover normal monthly payment and living expenses. Served foreclosure papers in June 2008 but was already in talks with a WAMU negotiator about a "work-out agreement" and was given a 3 month trial, (July - Sep 2008) at the same payment as before I fell behind. I made the 3 trial payments, and then expected to get some kind of work-out package, reinstatement, or whatever you want to call it. I got nothing. Not a word. I called every week for months to check on the status of my loan work-out and heard nothing until March 2009. During that time, I didn't make any additional payments as I was told that WAMU was just waiting on the paperwork, and in that time, WAMU collapsed and became part of Chase. March 2009, a new negotiator called me and asked if I still wanted to stay in my home, and took all my financials. She called an hour later and told me I would qualify under the "Obama plan" for Freddie loans, and it would entail a new 3 month trial, but this time with a payment about 200/mo lower than the original. So, I was very excited and made the 3 trial payments in Apr,May, and June. Once again, didn't hear anything.... I called today and actually reached my negotiator, and thought it was a miracle that the same negotiator is still dealing with my loan. She told me that they are just overwhelmed and that while they had verified that I had made the 3 trial payments, the "permanent work-out" paperwork wouldn't be ready for at least 2 weeks. I'm happy they acknowledged that I had made all the payments, but I am torn about whether to send them something this month, as I don't know for sure yet that the work-out will be made permanent. I mean, I have the money to make the payment, but why would I if they could just pocket it and still foreclose? I'll update this thread as I move further along. I understand that very few, if any, have gone past the trial and into a permanent workout as of yet with Chase.

07-03-2009, 03:05 PM	#2 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Hi Mndaddy welcome and thank you for joining the forum. Thank you for sharing your story. I'm sorry but were not really seeing too many permanent mods being completed yet after the trial period is over. There are many in the forum in your same position so stay strong. Keep us poated on your progress. __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

07-05-2009, 05:02 AM	#3 (permalink)
classicgk Senior Member Join Date: Jan 2009 Posts: 58 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Hi MnDaddy, I'm in Minnesota too... Foreclosure in Minnesota at least Minneapolis is a fairly long process. At least six weeks for a Sherriff's sale and another six months for a redemption period in a home that is being occupied. It depends on how good a loan mod you are being offered. And how upside down your home is. And whether or not you have a Plan B in case they do not follow through. If your workout loan payment is a reasonable % of your income and it sounds like you have been riding the workout waves for awhile looks like you have nothing to lose by working with them.

07-29-2009, 09:27 PM	#4 (permalink)
MNdaddy Senior Member Join Date: Jul 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Well, nothing new to report. Didn't send anything in for July. My trial pmts of Apr, May, and Jun were received, and still my "work out" is "in process" according to my negotiator. Going to get an appt with a HUD approved counselor to explain my situation and find out my best options. This is the second time I have done a 3 month trial work out and gone into limbo. I'm surprised and frustrated because I have shown twice that I can make the payments, but I go into limbo and fall further behind. I understand many are in the same boat. I'll continue to update as I have news.

09-19-2009, 11:02 AM	#5 (permalink)
MNdaddy Senior Member Join Date: Jul 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Update 9-19-09 Well, I had made my trial payments in Apr, May, and Jun, and then played the waiting game. One time I actually got a call back from my negotiator, who told me she had everything she needed and that my loan was with the "monitoring" dept, and to basically just hold tight. I made calls 3-5 times per month. Heard nothing. Then, out of the blue, on Sept 10, a man came to my door and handed me a slip of paper that said he, at the request of WaMu, was an independent field inspector, and I needed to call WaMu or the Hope Line (that really made me nervous). I called WaMu immediately and was told that my loan is now with a new negotiator, who the service rep said should have already contacted me (she hadn't), and I explained my situation and was told I would hear from them within a week. Well it took slightly longer but today, 9-19-09 I got a call about my modification package, and they said they were missing the hardship affidavit. Well, I had only been instructed to write a hardship letter back in March, and had never received any "package" much less been instructed where to find the documents online, which is what they told me to do today. I explained all of the documents I had sent to my previous negotiator and they insist I need to send this affidavit form. "Gladly" was my response, and I verified that they were still working on the Obama plan for me, and she said yes, this was for a permanent mod under that plan. Of course, I won't believe it until I see it. I can afford the payments under the Obama mod terms they had given me for my trial earlier this year, and am hoping I get to start paying them, with the understanding that I am out of foreclosure. Hopefully that's the case soon. So, I'll send that form and follow up with some calls and see where it goes.

09-22-2009, 12:38 PM	#6 (permalink)
pbharris4 Senior Member Join Date: May 2009 Posts: 108 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. I would Express Mail whatever documents they send and require a signature just to prove it was received by someone who works for Chase. Once it's in their hands and you have a signature..there's no excuse but to blame themselves and you have done your part.

09-22-2009, 01:00 PM	#7 (permalink)
rachel_p Senior Member Join Date: Aug 2009 Posts: 277 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Wow, what a mess. I keep waiting for someone to post that they've had a great experience but that's never the case. A field inspector? Great...I wonder if they do that to everyone before they give a permanent mod. You are a lot further in the process than we are. I'm glad you updated.

09-22-2009, 01:16 PM	#8 (permalink)
BudgetCutsinOC Senior Member Join Date: Sep 2009 Posts: 179 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. This is a classic STALL move by Chase. They keep stalling hoping something "positive" will turn out for them! There is no reason for Chase to modify anyones loan. There are getting paid hand over fist through legal back-channel loopholes in the system. Meanwhile we pay them there "inhouse" 3- month trial period while taking our money. Still havent decided whether or not I will make my first trial payment due Oct 1. Might just short sale or walk. I could really care less. What is Chase gonna do,, beat me up! Come and get it! F. Chase

09-22-2009, 01:49 PM	#9 (permalink)
kgeriak Member Join Date: Jul 2009 Location: Stamford, CT Posts: 28 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Well I feel like I hit the jackpot today. I got a call from Wachovia about my rental property and they would let me know there decision in the next two days. Thought it looked pretty good for a MAP modification. Then an hour later I get a call from the Chase Executive OFFICE assigning a personal assistant to walk me through the modification and he will be my go between with the negotiator. I got two names and email addresses and phone numbers for these people. There personal lines. I have been trying to do this since March and have refiled paperwork 3 times for each bank. Getting extremely frustrated and in August I contacted my Senator and rep. My Senator - Senator Dodd - head of the Finance and Banking Committee in the Senate Contacted me and let me know that he contacted Both Presidents of Chase and Wachovia and the Controller of the Currency to get to the bottom of this. I find it very coincidental that on the same day I got the VIP treatment. They say they have no notes about Sen. Dodd in there paperwork but I would guess he might have had a hand in this. Anyway Today is a good day - let's see if it stays that way or if I am disappointed in the end. We shall see. Wish me luck!

09-22-2009, 02:57 PM	#11 (permalink)
caldwellb02 Senior Member Join Date: Nov 2008 Location: Northern CA Posts: 1,783 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. So Dodd can call the banks and not other Senators? Is that how this works? I'm very glad for you Kgeriak but kinda mad at the same time. I had been told that our congresspeople couldn't directly call the banks. But Dodd can because he is head of the banking committee? Everyone in Connecticut - get movin. Call Dodd. Get him to swamp them with complaints! Really, good luck kgeriak!

09-22-2009, 04:25 PM	#12 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 497 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Well I for one am going to write my congressmen and both senators and give them an ear full. I find it odd that they can host foreclosure seminars and the like in our respective states just to advise of the MHA/HAMP govt plan to save us all...they need to hear the other end AFTER WE APPLY FOR THESES PLANS..its not working!!!!!!!!!!!!! They need to be involved in the congress and senate to get this thing moving..We all need to write our congressmen and senators and apply pressure before its too late....THIS IS A GOVERNMENT PLAN THEY NEED TO BECOME INVOLVED I AM WRITING MY LETTERS TONIGHT AND ALSO ADVISE THEM I WILL KEEP WRITING AND CALLING UNTIL SOMETHING IS DONE I AM NOT GOING AWAY AND I AM MAD AS HELL...ESPECIALLY AFTER TODAY WHEN I CALLED CHASE ONCE AGAIN AND GOT A VERY NASTY INDIVIDUAL ON THE LINE...THE THING CHASE DOES BEST IS RUDNESS AND RIPOFF!!!!!!!!!!!!!!!

09-22-2009, 11:03 PM	#13 (permalink)
famlena Senior Member Join Date: Jul 2009 Posts: 57 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. fyi - i was told by one of the reps that chase has a new system where each month a new analyst is assigned to my file. i was recently denied a perm mod because of insufficient income. i spoke to the closer inquiring for more details about the denial and come to find out that chase did not take into consideration that my brother's contributing/paying rent to me to share my house. i believe that would be considered income. she said that my case has already been closed and she needed to check with her supervisor to see if they can reopen it. she said there was no guarantees that my file can be reopened. i can't believe i've waited all this time just to have this happen to me. they made an error and may not be able to or want to correct it. make sure you verify that they have the correct info entered into their system. once the file is closed it's difficult to have it reopened. so be careful. i wish had verify the info with them...

09-30-2009, 09:28 AM	#14 (permalink)
MNdaddy Senior Member Join Date: Jul 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. 9-30-09 It took 10 days to get an answer as to what documents they need from me. Well, Bob, a "supervisor" said that all they need is the hardship affidavit, which I have to download and fill out. I had written, signed, and had notorized, a hardship letter and promise to get housing and credit counseling back in March. But, this wasn't their official Fannie/Freddie HAMP hardship affidavit form so I guess it didn't count. So, I will paste my original on to their form and send it this afternoon. Bob told me my file will then go to underwriting for my permanent mod. I'm still skeptical, but then again, my financial situation has improved since I fell behind due to a business failure. Have since gained full time employment and can make a monthly payment just fine, but can't come up with $$$ to make up the months I missed. So, hoping for the best...

10-02-2009, 10:15 AM	#15 (permalink)
MNdaddy Senior Member Join Date: Jul 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Sent my handwritten (on their form) hardship affidavit on 30 Sept. Now I can't reach Bob, the supervisor that is now handling my acct. Left him multiple messages asking him to confirm that the fax was scanned and put in my file to go to underwriting. I basically copied the hardship letter I sent to WaMu back in March, and I think it did a good job of explaining my business failure (loss of income that led to late payments), and obtaining a new job (lower income than when I got original mortgage), and that I depleted my savings (to zero) and ran up a lot of credit debt (payments I also can't make), so there is no way I can make up back payments, though I can make the trial payment, and have had two 3-month trials to prove that. Hoping for the best. Already planning to appeal a denial though. Just seems to be the way they play.

10-20-2009, 08:16 AM	#17 (permalink)
MNdaddy Senior Member Join Date: Jul 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Got a call today from a new person at Chase. They said they need my affidavit and two most recent stubs. I asked why the affidavit I sent on 30 Sept wasn't enough and he said that they have a "paperless" system which has him pulling up documents online but that he couldn't find it. Amazingly, he has my tax returns and some other docs though. So, I will buck up and send the two most recent stubs and re-send the affidavit and hope for a mod. Not really confident that I'll get one any more even though I can document that I went through a business failure, saw my income go to zero, my savings and credit drained, and obtained a new job with about 50% of the income I had when I qualified for the original loan.

11-10-2009, 05:17 PM	#18 (permalink)
MNdaddy Senior Member Join Date: Jul 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Got my perm loan mod package today. I'm going to sign and accept it. I started a new thread about it.

11-10-2009, 07:34 PM	#19 (permalink)
MNdaddy Senior Member Join Date: Jul 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. Quick summary of terms as my new thread hasn't appeared on the forum Yrs 1-5, 2% Yr 6, 3% Yr 7, 4% Yrs 8-31, 5% Maturity set for 2040; original was 5.875% 5yr ARM set to adjust in 2010 with maturity in 2035.

11-10-2009, 08:02 PM	#20 (permalink)
pbharris4 Senior Member Join Date: May 2009 Posts: 108 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: WAMU/Chase; where I am in the process. congratulations!!!!!!

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode