Old 08-31-2009, 05:58 PM   #26 (permalink)
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Re: Chase Application Questions

Hard Times,

It actually Maxie19 that posted the NPV link...This test is pretty cool...they have the HAMP one under tight guard. What ever happend to transparency???


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Old 09-01-2009, 05:05 AM   #27 (permalink)
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Re: Chase Application Questions

Quote:
Originally Posted by Hard Times View Post
Kejerick.....Possible mistakes on your NPV tst:

1. May want to change program % rate floor to 2%.
2. Your Current Unpaid Bal is MORE than your initial mortgage?
3. Your current Mthly Pmt must be wrong....how can your mthly interest be more than that?
4. Heres the BIG mistake....Your current value of 416,000 must be way too high. Did you check the current appraised value at the chase website? Original loan amt was 389k, so didnt your home go down in value?

But you still passed with your computations......this spreadsheet is a bit confusing, so alot of mistakes can easily be made on it.

good luck...."All for one, and one for all".

Chase's slogan would be "All for me, and even more for me!"
HArdship

The reason the mortgage is more than what I took out is because it is a minimum interest only loan. It is neg amortization. That is why I want out of it. The interest is correct - that is what is on the statement. The house was originally appraised for 800,000 - We had a building lot which we built a house on and has a seperate mortgage. The value of $416000 was from chase.com and it was in 2007 worth $600000. So you see what I mean by confusing but am sure the spreadsheet is right. We are only looking for the 3% so I am letting it go there. Thanks for your input.
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Old 09-01-2009, 05:19 PM   #28 (permalink)
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Re: Chase Application Questions

Kajerick-----Yes, Hard Times is having a hardship.....cute. Ok, thats why your numbers looked wierd.....the negative amortization going on for you.

Chase is playing games again with me.....they told me about 2 months ago that "the mod will surely be approved....Im personally taking it to Underwriters". Right. Today I get a call, and the jerks want me to refax page 3 of the bank statement I sent over a month ago. This page 3 is only the bank's terms/conditions....nothing about my bank accts. (and I did send all 3 pages last time). I am so peeed-off now. There is no doubt....these employees have been told to play this paper-chase game with us to delay the process. This has happened to me way too many times for it to be random events. Those idiots!
I once again am SOOOOO darn frustrated with Wamu/Chase. I too have been through the run-around and the many many people as you have. I started this process in Oct 08, was approved, then rejected, resubmitted, then approved, then "papers are on the way", ......LIES, LIES, LIES! They wanted a current bank statement about 2 months ago, and got it, and said there would be no problem....that surely I would be approved this time. Damn underwriters never called, and finally tonight I find that they want me to RESEND that prior bank statement as they "claim" that I did not send the last page. UNBELIEVABLE!! (I did send all three pages).
So....this third page is just general bank terms...nothing about my bank accounts. It is clear that these banks are playing major games with all of us, and I am FED-UP with it all!!!! Yes, I would like to revolt, as Swiller says above......we need some major "grass-roots rebellion in this country".

I am 1 month behind, going on 2 months.......I love my home, but these scallawags are not getting another dime from me for missed mortgage payments. They can have their collectors from Mexico or India keep calling, but thats it.....no dinero from this guy! Its either a mod or they get a home which will probably have burst pipes by winter, and water damage everywhwere.

Do they realize how angry they are making Americans?
IP: 12.165.209.244

I once again am SOOOOO darn frustrated with Wamu/Chase. I too have been through the run-around and the many many people as you have. I started this process in Oct 08, was approved, then rejected, resubmitted, then approved, then "papers are on the way", ......LIES, LIES, LIES! They wanted a current bank statement about 2 months ago, and got it, and said there would be no problem....that surely I would be approved this time. Damn underwriters never called, and finally tonight I find that they want me to RESEND that prior bank statement as they "claim" that I did not send the last page. UNBELIEVABLE!! (I did send all three pages).
So....this third page is just general bank terms...nothing about my bank accounts. It is clear that these banks are playing major games with all of us, and I am FED-UP with it all!!!! Yes, I would like to revolt, as Swiller says above......we need some major "grass-roots rebellion in this country".

I am 1 month behind, going on 2 months.......I love my home, but these scallawags are not getting another dime from me for missed mortgage payments. They can have their collectors from Mexico or India keep calling, but thats it.....no dinero from this guy! Its either a mod or they get a home which will probably have burst pipes by winter, and water damage everywhwere.

Do they realize how angry they are making Americans?
IP: 12.165.209.244
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Old 09-02-2009, 03:17 PM   #29 (permalink)
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Re: Chase Application Questions

I've seen alot of you on here saying to contact the "executive team". I'm not a big reader who is that with Chase and how do you contact them? I was just submitted under the FHA Homeaffordable plan . Does anyone know if this is the same guidelines as the Freddie/Fannie guidelines, it appears to be from the FHA Website. Please let me know on the "executive team" contact info.
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Old 09-02-2009, 03:45 PM   #30 (permalink)
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Re: Chase Application Questions

Hey guys I'm a bit confused. How do you figure in - or do you - a second mortgage with the same lender?
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