My Bad Chase experience vs. Good Chase (Obama retention team)

[thesleuth]

Sorry this is so long, but this has been going on since March. I have never
had such a frustrating experience in my life.

Back in March I filled out all the papers on the Chase website for a loan
mod. with unique circumstances. A negligent loan officer did not put my
name on the loan with my husband at the time of purchase in 2007, even
though I had all the income and he did not. Put down over 20%, so with a no doc loan, they thought would save their efforts and just list him. I
don't know why. The loan officer is not there any longer to talk to.

Last February we were divorced and my ex said he was walking away from the loan, quitclaimed his interest to me. Chase said it was okay to put it through under my name even though he would have to sign off on it. Months pass with no communication. I have lifetime disability policy,
had to pay my husband off in the divorce because I had steady money and
he did not, and have had several eye operations I am paying bills on, besides the huge mortgage that takes over half my income. I know I am qualified on all counts, hardship, etc., and have perfect credit, ability to pay loan with a reduced payment because disability comes in every month.

After months of dropped calls with Chase and no communication at all from
them, I received a Fedex from the Chase Home Retention team or Obama
program in May under my ex's name and filled everything out and sent it
to them.. They said I was fine with the quitclaim and divorce, etc.
having it in my name with them. They have been nice to talk to on the
phone, whereas "Bad Chase" continually hangs up, drops calls, is impossible
to talk to.
Then a few days ago I get a denial letter from the Bad Chase of Ohio, saying they denied me for the HAMP or Obama program for "Failure to respond to request for communication"! What a joke. They are the ones who never communicated to me since March. I called Good Chase and they said I am still in their system, with no denial, and they said they were
sending my papers for review to the bank 7/17.
The denial letter from Chase was dated 7/14, three days BEFORE the
retention team said they even sent them my documentation!
How could they reject me for the HAMP program if they did not even get
their paperwork? I have been told every few days by the retention team
or Obama program that my file is in perfect order and quote cured.

I called Bad Chase to ask them about this, and the woman (I call her the
closer) spoke like an auctioneer, very fast, hard to understand, and
admitted the REAL reason I was denied was because my name is not
on the original loan and now because we are divorced I cannot be
given the HAMP loan, but she did have two other loans, one for over
$2000, about what I pay now, that is the forbearance, and one for $1860.
I said the $1860 would be fine if it included Property tax, ins. HOA, P&I
but she said if I am paying property tax on my own, that is the way it
stays. This is only $350 less and will not help me save my house that I
have over 200K into and is my life savings. I cannot walk away from it.
I told her I wanted to see the details and she said she was fedexing
it right away, and was very rude and tried to get me off the phone as
fast as possible. This is the first time someone actually from Bad Chase
has talked to me and now they were trying to get me to sign up for
a program I did not even know the details of.
So I called the Good Chase and told them what happened, faxed them
a letter describing this, and they again said I was still in their system
and did not know anything about the denial.
When I called up other departments of Chase to talk to them about this,
they have all said my loan is now with the new $1860 program, and they
have stamped everything with this like it is set in stone. I am not
going to sign anything for them and will see what it says, but have
never experienced such a horrible six months of dealing with these people
with their deceptive ways and trying to railroad me into something I
do not want. I am amazed that some people have good luck with this
process.
I feel Bad Chase just wants to get rid of anyone
in the Obama plan because they will make more money if they keep them in another bad loan. I have read articles about this recently too, that they make more money on foreclosures with all their service fees than their incentive money from Obama plan, so they will deny everyone for whatever reason just to keep the loan themself or with an investor.

[Evan Bedard]

Hi thesleuth welcome and thank you for joining our community.

Chase definetely does seem to be one of the more difficult lenders to deal with. When you call Chase why dont you just stick with the retention team because most of the time it seems the left hand aint talking to the right. They seem to be a lot more willing to help in your case... If you feel you need some assistance you can try going through NACA they are a non profit organization that have helped many here on the forum as well:

Here is the link to the site.

https://www.naca.com/index_main.jsp?language=null

[thesleuth]

Thank you, Evan. I did get that same info today talking to a nice woman on the
retention team. She said I am still a go in their system, and should get a fedex within
the month, and she said I still may get the fedex from the Chase bank.
Apparently I could get two fedex packages from the different branches of Chase.
She said the retention team fedex and letterhead is from Connecticut with Fannie Mae on the letterhead, with their phone number of 800-435-4312, and the other Chase is
from Ohio. So glad to have gotten this information. Gives me a little
more optimism that I might get another offer than the bad Chase offer. I never want to speak to the other department of Chase again, if I can help it.
I am still worried deep down that because of this first denial, that when the rentention team paperwork gets passed to the bank, they may still disapprove it and
give me the same bad offer. Hope is a wonderful thing.

[Evan Bedard]

Your welcome sleuth. I would suggest you keep on top of the retention team at least once or twice a week until your modification is complete. Even though you have been denied once before does not mean that you cannot achieve a mod, I have seen homeowners get denied once, twice and even three times before achieving their goal.

Stay strong and keep us posted!

[caldwellb02]

Hey this is new info for me and thanks! I was under the impression that the "Executive Team" was the place to move this process through. I've posted my saga on other sites (mostly on Wamu/Deutsche) but am going into default this month (after 7 months of trying).

question: do they ever deny you in writing? I've gotten a couple of verbal denials (from a couple differnent bad chase/good chase teams), then when I verbally tell them their data is faulty or insufficient they are re-reviewing. Got my last denial last week, again on faulty data. I wonder how much they are making each time they look at my file??

I love this site Evan. Thank you. There have been times when I'm a bit crazed, but I always come back here and get new info. Thanks.

[shade]

Per hamp guidelines set forth by the government if you are denied the servicer is mandated to provide in writing why they are denying you.