Finally!!! Possible perm mod docs by Friday??

[vlove705]

Hello all,

We have been battling Chase for almost a year, just sent in our final payment on the trial period on Sept 1 and have been calling nonstop to see what we are supposed to do for our October payment. Well, after several different stories by several different reps, we got a call from our VA rep on Thursday Sept 24 saying she had received an email from Chase with our workout plan details and she was getting the docs out to us. The workout details are: all late fees waived, reduction in interest rate from 6.5% to 5%, start the loan over at 360 months and the first payment is due Oct 16. Basically sounds like a refi to me, but I'm ok with it. I'm so ready to be done with Chase. Of course, we all know how their reps have no clue what they are doing, so we called back on Friday just to see what story we get and we were told that mod docs were being processed and we should have them within 7 days. I'm really hoping and praying that we get these docs so we can be done.

[Moe Bedard]

This is great news and sounds like a decent deal to end this loan mod misery. Please let us know if they follow through or don't because I have seen this happen and no paperwork ever arrives. Not saying this will happen here, just keep on top of these clowns

I wish you the best!

[SwillerAlesbane]

I hope the best for you!

My "Final Loan Mod Documents" were supposedly in the mail August 20, 2009.

It's the slowest FED-X delivery I've ever seen in my life...........NOT.

I'm just gonna set-up camp and see how long I can go w/o a payment.

[Moe Bedard]

Swiller, a have a friend who a retired NY Cop who has done it for 23 months. Just emailed him last night and he said he is still waiting. So, your tactic may save you some money.

[vlove705]

I know..Chase is the absolute slowest bank I have ever dealt with. We have a list of people that we are calling daily..the general Chase number, our VA rep, our supposed person who was doing the workout, and 2 others. I think they may be getting tired of us calling because they have started reading us the notes from the previous day when we call, but I don't care. I just want those papers and then I'm done. Good luck to us all b/c we do need it dealing with this bank.

[smit5454]

Man I hope this is true and you get the first permanent mod I have seen. I have been told my permanent mod docs will be here Friday. Unfortunately, that was about 5 Fridays ago and multiple follow up calls. Please post once you get something official! Thanks.

[fla borrower]

Sorry to say this but...I don't trust this bank or anything they promise.
I hope I am wrong and that you get your perm mods asap!

[shade]

I am interested in if they followed the guidelines. When they reduce your rate to 5% does this make it meet the 31% gorss income requirement?

[vlove705]

Shade: I'm not sure..when our VA rep called us, we asked her to forward us a copy of the email so we could review it..all she did was copy and paste the pertinent parts which were that the interest rate lowered to 5%, all late fees waived, starting over with 360 mo term and first payment due on 10/16. Once we get the docs and see the pymt amount, then I will be able to determine if it meets the 31% rule.

We have called every single day since then to see if what they are saying is true and we have gotten different reps every time and we are told every time that the docs are in process. Since we still don't have the docs and there are horror stories about docs never being received, my husband called the exec team this morning to see what they say about where the docs are. The guy just called me about an hour ago, said that our file was reassigned to him (our prev rep never once called us) and he will find out exactly where the docs are and get a fed ex tracking number for us. But, he did say that he does see in our notes that all the terms I mentioned above is true. I have called him back and left him a voicemail to see if he can tell me what the new pymt amount is, so we'll see.

[SBBLUEWATER1]

We were told our final mod was done weeks ago and the docs would be out to us within days. That was about 4 weeks ago. Still no docs and when I call they now say they don't even know if we will be approved. Wait and see if you actually get the docs before giving them any more money!

[vlove705]

SBB..I am for sure!! If all of this turns out to be not true, we have already decided to walk away. We are so tired of fighting them, it has gone on much too long and is beyond the point of ridiculousness. And as many people and departments as we have called and for this to all turn out not to be true, they can go ahead and have it if they want it that bad.

[rachel_p]

vlove...I get to jump in your boat now with "waiting for documents". I'll be watching for updates to see if they arrive for you.
Good luck!!!

[vlove705]

Rachel..good luck to you too!! Hopefully, they arrive for us both and we can both be success stories!