PERMANENT Mod Paperwork RECEIVED! - Loan Modification Forum

rottiepapa · 10-02-2009, 02:32 PM

Hi all,

This afternoon, around 3pm, I finally received my permanent MHA modification loan documents.

The mod is as follows:

Old pmt: $1711 incl escrow at 6.125% fixed, 25 yrs remaining on term, $144K principal
New pmt: $1079 incl escrow at 2% (for yrs 1-5, then increasing by 1%/yr until maxing at 5% for yrs 8-33), $149K principal including past due pmts.
$6k in back escrow to be paid back over the first 5 years as add'l $100 per month

My situation was:

Income reduction (sales commissions) by between 40-50% over the last 2-3 years.
Contacted Chase in March 2009 for Trial Mod.
Received Trial mod in June for 7/1, 8/1, and 9/1.
Completed Trial mod 9/1.
Received "Notice of Intent to Foreclose" dated 9/3 on 9/6.
Spoke with two reps who advised me to disregard letter. Insisted on notice in writing rescinding NOD/acceleration letter. Reps no help - demanded transfer to Exec Res Group.
Assigned to ERG rep who initially wasn't so great at returning calls/answering her phone.
Composed and sent e-mail threatening to contact the media, etc. for help and sent to ERG rep, Mr. Dimon, Ms. Molly Sheehan (VP who recently testified on Chase's progress under MHA to congressional subcommittee), and several other execs at Chase, setting deadline of 5 days for response/resolution.
Received email and letter the following day via overnight-mail rescinding NOD.
File escalated to Underwriting exec, approved around 9/15-16.
Underwriting exec advised docs would be generated, received by me within 14 days.
Called to check up at 12 days and get tracking #; advised there had been an "error" in doc generation, exec attempting to resolve.
Sent constant (maybe 10-12) email follow ups ... think Pit Bull.
Finally received tracking # yesterday. Received loan docs today.

I know not a lot of people have received permanent mods here yet, but I hope something from my story will help someone. I've tried to include all the relevant details. Let me know if I left anything out or if there's anything else I can share that might help.

Lately, I'm reading more and more posts here where people are being advised that the permanent mods are on their way. I hope this is true, and that along with my story will KEEP THE HOPE ALIVE!!

NEVER LET UP!!!!!!!!!!

RP

Evan Bedard · 10-02-2009, 02:49 PM

Congratulations Rottiepapa!!! That is an excellent modification!

rachel_p · 10-02-2009, 02:56 PM

Congratulations!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

So happy for you!

Let us know how it goes from here.

BobandArlyn · 10-02-2009, 03:08 PM

excellent!!! Congratulations!!!!

litehouse01 · 10-02-2009, 03:17 PM

CONGRATUALTIONS!!!!!!!!!!!!!! WONDERFUL NEWS.......................... WAS YOURS A FANNIE MAE OWNED LOAN?? i AM GLAD TO SEE INCOME REDUCTION IS CONSIDERED A HARDSHIP BECAUSE THATS WHAT WE HAVE AND i HAD FEARS OF BEING DENIED

salvega530 · 10-02-2009, 03:19 PM

this is soo great, thanks for the great information. How behind were you when you started the mod process? What dept did you work with? loss mit? Thanks!

OH-WAMU · 10-02-2009, 07:41 PM

that is the best news i have heard in a long time.

thanks for encouraging all of us to go "pit bull"!

franklyspeaking · 10-02-2009, 07:47 PM

Yes Congrats ! Yes please clarify if was Fannie/Freddie type of loan and if you were behind and how far behind when started process. Thanks and great work! You give us all some hope!

rottiepapa · 10-02-2009, 10:13 PM

Yes, my loan was Fannie.

Melanie702 · 10-02-2009, 10:18 PM

Rottiepapa, that's excellent news! Must feel so good. Congratulations! Hope we all have the same great news to share.

rottiepapa · 10-02-2009, 10:54 PM

Yes, mine was a Fannie Mae loan.

I was about 5 month behind.

I was very tenacious. Be very tenacious. Be POLITE, reasonable, and TENACIOUS. That is what worked for me.

RP

Do not want to lose it · 10-03-2009, 07:49 AM

rottiepapa
Thanks for all that info!!!!
AND CONGRATULATIONS!!!!!!!!!!!!

rottiepapa · 10-05-2009, 08:36 AM

Thanks, y'all. It has been a LONNNNNG time coming. Hope to hear good news from everyone here soon.

caldwellb02 · 10-05-2009, 08:37 AM

GREAT Job! Congratulations!!!!!!!!!!!!!!!!!

pbharris4 · 10-05-2009, 07:11 PM

Yay rottie!!!!!! Very happy for you!!! I sure hope they are moving along and getting it done now!!!

cliffdweller · 10-05-2009, 08:00 PM

Rottie - Congratulations!! Man, we all needed that! Thanks so much for posting
and providing so much good information! The best to you.

diana0806 · 10-06-2009, 03:08 AM

Rottie, that is great!!!!!!!!!!!! You have to keep fighting. It gives me great hope that someday my perm. Mod. Will arrive after 23 months of chase hell. You have made my day. We will prevail!!!!!!!!!!!!!!

fla borrower · 10-06-2009, 05:59 AM

Congrats Rottie!

This gives all of us some hope!

smit5454 · 10-06-2009, 03:14 PM

Unfortunately, Rottie probably works for Chase as a lurker. Still don't believe only 1 permanent mod has been completed. If one was done they should be dropping like flies now.

rachel_p · 10-06-2009, 06:03 PM

Quote:

Originally Posted by smit5454

Unfortunately, Rottie probably works for Chase as a lurker. Still don't believe only 1 permanent mod has been completed. If one was done they should be dropping like flies now.

Do you really think that? Ugh, I hope it isn't true. I love having some little smidgen of hope.

litehouse01 · 10-06-2009, 06:21 PM

Smit 5454 what gives you this idea????? Any proof..something must prompted you to say something so negative

j66chevell · 10-07-2009, 03:55 PM

I was getting all excited when I got a FedEx from Chase, only to open it and find I now have the "missing paperwork" bug like many others.

art4ari · 10-07-2009, 05:07 PM

Yes, Got a new packet for missing items" too. I refaxed twice and by fedex too, today. We'll see. Good luck to all

a2kman · 10-07-2009, 05:10 PM

Same packet here, the funny thing is I talked to underwriting on Monday and they confirmed they had everything they need. I just recently in mid Sept sent ALL new docs and then yesterday get the FedEx package asking for it AGAIN. Off it goes tomorrow morning. As I have said in the past "Left Meet Right Hand lets do lunch"

rottiepapa · 10-08-2009, 08:55 AM

Smit5454, I can assure you I don't work for Chase and haven't misrepresented myself here on loansafe in any way. If I did/had, it wouldn't have served Chase much to let everyone know that the only way I got things done was threatening to go to the media, would it? Just speaking the truth.

I see a second post today from someone else who's actually received permanent mod docs. Hopefully this will help you to believe it can happen!! And hope it happens for you soon.

Good luck, all. Don't let up.

RP

10-02-2009, 02:32 PM	#1 (permalink)
rottiepapa Member Join Date: Jul 2009 Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	PERMANENT Mod Paperwork RECEIVED! Hi all, This afternoon, around 3pm, I finally received my permanent MHA modification loan documents. The mod is as follows: Old pmt: $1711 incl escrow at 6.125% fixed, 25 yrs remaining on term, $144K principal New pmt: $1079 incl escrow at 2% (for yrs 1-5, then increasing by 1%/yr until maxing at 5% for yrs 8-33), $149K principal including past due pmts. $6k in back escrow to be paid back over the first 5 years as add'l $100 per month My situation was: Income reduction (sales commissions) by between 40-50% over the last 2-3 years. Contacted Chase in March 2009 for Trial Mod. Received Trial mod in June for 7/1, 8/1, and 9/1. Completed Trial mod 9/1. Received "Notice of Intent to Foreclose" dated 9/3 on 9/6. Spoke with two reps who advised me to disregard letter. Insisted on notice in writing rescinding NOD/acceleration letter. Reps no help - demanded transfer to Exec Res Group. Assigned to ERG rep who initially wasn't so great at returning calls/answering her phone. Composed and sent e-mail threatening to contact the media, etc. for help and sent to ERG rep, Mr. Dimon, Ms. Molly Sheehan (VP who recently testified on Chase's progress under MHA to congressional subcommittee), and several other execs at Chase, setting deadline of 5 days for response/resolution. Received email and letter the following day via overnight-mail rescinding NOD. File escalated to Underwriting exec, approved around 9/15-16. Underwriting exec advised docs would be generated, received by me within 14 days. Called to check up at 12 days and get tracking #; advised there had been an "error" in doc generation, exec attempting to resolve. Sent constant (maybe 10-12) email follow ups ... think Pit Bull. Finally received tracking # yesterday. Received loan docs today. I know not a lot of people have received permanent mods here yet, but I hope something from my story will help someone. I've tried to include all the relevant details. Let me know if I left anything out or if there's anything else I can share that might help. Lately, I'm reading more and more posts here where people are being advised that the permanent mods are on their way. I hope this is true, and that along with my story will KEEP THE HOPE ALIVE!! NEVER LET UP!!!!!!!!!! RP Last edited by rottiepapa; 10-02-2009 at 02:37 PM..

10-02-2009, 02:49 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: PERMANENT Mod Paperwork RECEIVED! Congratulations Rottiepapa!!! That is an excellent modification! __________________ 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.

10-02-2009, 02:56 PM	#3 (permalink)
rachel_p Senior Member Join Date: Aug 2009 Posts: 277 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Congratulations!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! So happy for you! Let us know how it goes from here.

10-02-2009, 03:08 PM	#4 (permalink)
BobandArlyn Senior Member Join Date: Sep 2009 Location: Santa Rosa, CA Posts: 374 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! *excellent!!! Congratulations!!!!*

10-02-2009, 03:17 PM	#5 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 497 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! CONGRATUALTIONS!!!!!!!!!!!!!! WONDERFUL NEWS.......................... WAS YOURS A FANNIE MAE OWNED LOAN?? i AM GLAD TO SEE INCOME REDUCTION IS CONSIDERED A HARDSHIP BECAUSE THATS WHAT WE HAVE AND i HAD FEARS OF BEING DENIED

10-02-2009, 03:19 PM	#6 (permalink)
salvega530 Senior Member Join Date: Jan 2008 Posts: 44 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! this is soo great, thanks for the great information. How behind were you when you started the mod process? What dept did you work with? loss mit? Thanks!

10-02-2009, 07:41 PM	#7 (permalink)
OH-WAMU Senior Member Join Date: Jul 2009 Location: Ohio Posts: 86 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! that is the best news i have heard in a long time. thanks for encouraging all of us to go "pit bull"!

10-02-2009, 07:47 PM	#8 (permalink)
franklyspeaking Senior Member Join Date: Sep 2009 Location: Lawrenceville,Georgia Posts: 245 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Yes Congrats ! Yes please clarify if was Fannie/Freddie type of loan and if you were behind and how far behind when started process. Thanks and great work! You give us all some hope! __________________ *Frank aka Franklyspeaking* *NACA Supporter* *Chase Submitted 8-5-09*

10-02-2009, 10:13 PM	#9 (permalink)
rottiepapa Member Join Date: Jul 2009 Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Yes, my loan was Fannie.

10-02-2009, 10:18 PM	#10 (permalink)
Melanie702 Senior Member Join Date: Mar 2009 Location: Las Vegas, Nevada Posts: 535 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Rottiepapa, that's excellent news! Must feel so good. Congratulations! Hope we all have the same great news to share.

10-02-2009, 10:54 PM	#11 (permalink)
rottiepapa Member Join Date: Jul 2009 Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Yes, mine was a Fannie Mae loan. I was about 5 month behind. I was very tenacious. Be very tenacious. Be POLITE, reasonable, and TENACIOUS. That is what worked for me. RP

10-03-2009, 07:49 AM	#12 (permalink)
Do not want to lose it Senior Member Join Date: Aug 2009 Location: Americas Hometown Posts: 66 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! rottiepapa Thanks for all that info!!!! AND CONGRATULATIONS!!!!!!!!!!!!

10-05-2009, 08:36 AM	#13 (permalink)
rottiepapa Member Join Date: Jul 2009 Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Thanks, y'all. It has been a LONNNNNG time coming. Hope to hear good news from everyone here soon.

10-05-2009, 08:37 AM	#14 (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: PERMANENT Mod Paperwork RECEIVED! GREAT Job! Congratulations!!!!!!!!!!!!!!!!!

10-05-2009, 07:11 PM	#15 (permalink)
pbharris4 Senior Member Join Date: May 2009 Posts: 108 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Yay rottie!!!!!! Very happy for you!!! I sure hope they are moving along and getting it done now!!!

10-05-2009, 08:00 PM	#16 (permalink)
cliffdweller Senior Member Join Date: Apr 2009 Posts: 179 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Rottie - Congratulations!! Man, we all needed that! Thanks so much for posting and providing so much good information! The best to you.

10-06-2009, 03:08 AM	#17 (permalink)
diana0806 Senior Member Join Date: Aug 2008 Posts: 193 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Rottie, that is great!!!!!!!!!!!! You have to keep fighting. It gives me great hope that someday my perm. Mod. Will arrive after 23 months of chase hell. You have made my day. We will prevail!!!!!!!!!!!!!!

10-06-2009, 05:59 AM	#18 (permalink)
fla borrower Senior Member Join Date: Sep 2009 Posts: 86 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Congrats Rottie! This gives all of us some hope!

10-06-2009, 03:14 PM	#19 (permalink)
smit5454 Senior Member Join Date: Apr 2009 Posts: 183 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Unfortunately, Rottie probably works for Chase as a lurker. Still don't believe only 1 permanent mod has been completed. If one was done they should be dropping like flies now.

10-06-2009, 06:21 PM	#21 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 497 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Smit 5454 what gives you this idea????? Any proof..something must prompted you to say something so negative

10-07-2009, 03:55 PM	#22 (permalink)
j66chevell Member Join Date: Apr 2009 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! I was getting all excited when I got a FedEx from Chase, only to open it and find I now have the "missing paperwork" bug like many others.

10-07-2009, 05:07 PM	#23 (permalink)
art4ari Senior Member Join Date: Aug 2009 Posts: 206 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Yes, Got a new packet for missing items" too. I refaxed twice and by fedex too, today. We'll see. Good luck to all

10-07-2009, 05:10 PM	#24 (permalink)
a2kman Senior Member Join Date: Jan 2008 Posts: 63 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Same packet here, the funny thing is I talked to underwriting on Monday and they confirmed they had everything they need. I just recently in mid Sept sent ALL new docs and then yesterday get the FedEx package asking for it AGAIN. Off it goes tomorrow morning. As I have said in the past "Left Meet Right Hand lets do lunch"

10-08-2009, 08:55 AM	#25 (permalink)
rottiepapa Member Join Date: Jul 2009 Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PERMANENT Mod Paperwork RECEIVED! Smit5454, I can assure you I don't work for Chase and haven't misrepresented myself here on loansafe in any way. If I did/had, it wouldn't have served Chase much to let everyone know that the only way I got things done was threatening to go to the media, would it? Just speaking the truth. I see a second post today from someone else who's actually received permanent mod docs. Hopefully this will help you to believe it can happen!! And hope it happens for you soon. Good luck, all. Don't let up. RP

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