Todays saga with Chase - Loan Modification Forum

litehouse01 · 10-02-2009, 03:13 PM

A little background....I call Chase yesterday because I had finished my 3 trial payments and had not heard anything and wanted to know whats next???? The guy (loss mitigation) told me that since the 3 payments are complete my account now goes in to review.....

he looked over my account and told me they wanted a copy of a utility bill with our name and address on it.......

and to re-fax the 2nd page of our 2008 tax return as we efiled with turbo tax and didn't sign it( dah thats because there is an electronic signature with the IRS when you efile) told to sign and date it...and sent 2 more bank statements...he said call back within 24hrs to make sure the faxes posted to my account..did that sat on hold about 25 minutes waiting to talk to someone...

finally got some one he said the faxes were received and that our MHA trial has been extended by 3 months until January 1 2010 he said they are going to be extending everyone as they have more applications than they ever thought possible and are taking them in order of receipt..

I questioned this..was this with the approval of the government he said yes they are aware...He said its always possible they could get to ours before Jan 1st...

Yeah right...so be prepared for a long winter and a long wait...has anyone else been told this????

Moe Bedard · 10-02-2009, 04:34 PM

The never ending MHA trial period. Yes, may people are experiencing this, but I don't think they got someone as honest as you.

rachel_p · 10-02-2009, 04:37 PM

I would ask to receive something on paper.

I hate dealing with this stuff during this time of year. Fall, and the holidays, is my most favorite time of the year and I'm feeling like there is a huge cloud looming over my head this year. I'm not enjoying much at all.

At least they are keeping you informed, I guess. I would call back a few more times just to verify what you were told and also to ask for something in writing.

litehouse01 · 10-02-2009, 05:42 PM

I already asked he said they are sending NOTHING not even additional coupons he said to make copies of the last coupon I have which is for payment #4 and cross off the 4 and add 5 and 6 he said they never expected so a large response to the MHA plan and are so overwhelmed that they cannot get these done in 3 months as originally claimed....he said now that not to say should they make headway thru all of the applications we could be done sooner than Jan1st 2010 but he said they have been going into the individual accounts and extending the trials mine was not extended as of yesterday but when I called back today my account had been updated with that info..........he further said if we do not comply and make the payments we will be kicked out of the program.

fla borrower · 10-02-2009, 07:05 PM

LItehouse

That's a crock! Don't pay anymore trial payments. The MHA Plan requires three payments and NO MORE! This is a stall tactic that Chase utilizes all the time. When it comes time to deny the mod, they will not care how many trial payments you've made.

Sorry to sound so jaded, but this bank has changed my way of thinking!

litehouse01 · 10-02-2009, 07:13 PM

i totally see where you are coming from........has anyone else been told their trial period is being extended?????????? It totally took me off gaurd today.....I said to the guy right away is this a bad sign he said no its not a bad sign at least you didn't get kicked off the program...thats what he said to me.......I found out Loss Mitigation is in Tampa Fla

maryland7 · 10-03-2009, 06:12 AM

Yes...we were told that we were scheduled for 3 additional trial payments. We ended up making 4 trial payments. We just heard two days ago that we are approved for a permanent modification and not to make the 5th trial payment on 10/1 b/c our first permanent payment will be due on 11/1.

We haven't gotten the docs yet but we did get a signed copy of our trial period plan in the mail yesterday. I think that is a very good sign. Plus, the fact that they didn't want us to make any more trial payments is very positive. They also did an internal bpo last Sunday.

I guess that is is possible that they are very backed up and require an extra month or two to finish processing the mods. The bad news is that our analyst said that their approval rate on permanent mods is only 18%. She said that their upper management is very upset about this number and really wants to help more people. Who knows if this is true or not???

I planned on continuing to make the trial payments as long as necessary so that I wouldn't lose any chance that I had at a permanent mod. Plus, the payments are the same as rentals in my area. I know some people don't feel this way but maybe that is one way the banks weed out who really wants to stay in their house.

Good luck!

dan m · 10-03-2009, 06:42 AM

servicers are allowed to extend the trial if they're missing docs that they are required to have. keep making your payments
https://www.hmpadmin.com/portal/docs...iver082609.pdf

caldwellb02 · 10-03-2009, 08:43 AM

Dan - your post clearly reads that the extension needs to be in writing.
Litehouse - make sure you get it in writing.

litehouse01 · 10-03-2009, 08:57 AM

Thank you Maryland 7...........The guy on the phone said he didn't see any problem and that alot of folks were getting extended by 3 month he said they are so very backlogged..........he further said when I inqiured what to tell on the other side being our 2nd mortgage(trial completed on the 2nd) because they keep asking the status on the first mortgage before they can close ..he said just tell them we were extend by 3 months and that they are backlogged..

litehouse01 · 10-03-2009, 09:02 AM

Danm & caldwellb02...............I wasn't missing any documents at all.........when I called the day before the day my 3rd trial payment posted I was told that my account would go in to whats called review and just to fax a copy of a utility bill that has our name and address on it( has anyone had to fax a utility bill) and to sign the 2nd page of our 2008 tax return and re fax that the said all the people who efile don't sign their return

litehouse01 · 10-03-2009, 09:15 AM

Maryland7..... did they ask you for a copy of your utility bill? And did they want you to sign the 2nd page of your 2008 tax return(if you filed electronically)?

a2kman · 10-03-2009, 09:30 AM

litehouse01,

After my 3rd payment they also had me send in an updated utility bill I also did had to send them a signed tax return even though I filed electronically.

litehouse01 · 10-03-2009, 09:32 AM

Whats your latest what are they telling you did you get extended by 3 months?

dan m · 10-03-2009, 09:49 AM

A servicer must confirm that the property securing the mortgage loan is the borrower’s primary residence as evidenced by the most recent signed federal income tax return (or transcript of tax return obtained from the IRS), a credit report and one other form of documentation that would supply reasonable evidence that the property is the borrower’s primary residence (such as utility bills in the borrower’s name).
proof of residency

maryland7 · 10-03-2009, 09:52 AM

No...they didn't ask for an updated utility bill. I would imagine that they are asking for this bill to see that you still occupy the residence. Since we had an internal BPO done, they wouldn't need our utility bill. Our house is underwater $300K now due to living in a bad market area...I think that they needed to verify that our house was this underwater with the BPO.

As for our tax returns, we also filed electronically but signed a copy before we sent it over to Chase.

Hope this helps.

CHANLY · 10-03-2009, 05:09 PM

My trial payments were july, aug sept and i was told that i would need to keep paying until dec b/c they are backlogged. I asked what info they might request and was told the last 2 bank statements but i have not been told to send anything in yet.

maryland7 · 10-03-2009, 06:59 PM

I was wrong...I checked with my husband and we did send a utility bill to Chase...just part of the long drawn-out process:-)

litehouse01 · 10-03-2009, 07:01 PM

Thanks Maryland 7 I hope this process has a positive conclusion for us as well......

vinnyb · 10-04-2009, 08:27 AM

We finished our trial in August and stopped paying. We have only had one phone call requesting more paperwork. They never send any written mail and i will not send more money untill i have something in writing. It is like they forgot about us. This is taking a toll on my wife as she is literally sick over the not knowing. To the point we are considering packing up and leaving to provide some stability in our lives. I have actually been contacted by an attorney who says we have a pain and suffering law suit.

SBBLUEWATER1 · 10-04-2009, 08:51 AM

VinnyB -
We are in the same boat. Last payment was for August 1. Chase told us to not make any more payments as final loan mod docs were "on the way to us". Nothing so far and no calls from Chase yet. It is like we don't exist anymore.
If the final docs ever show up I will be amazed. I'm feeling like it is all a game to them and they will eventually just foreclose on us anyway.

pbharris4 · 10-05-2009, 07:32 PM

Maryland7...so glad to see you got you perm. mod!!

10-02-2009, 03:13 PM	#1 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 496 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Todays saga with Chase A little background....I call Chase yesterday because I had finished my 3 trial payments and had not heard anything and wanted to know whats next???? The guy (loss mitigation) told me that since the 3 payments are complete my account now goes in to review..... he looked over my account and told me they wanted a copy of a utility bill with our name and address on it....... and to re-fax the 2nd page of our 2008 tax return as we efiled with turbo tax and didn't sign it( dah thats because there is an electronic signature with the IRS when you efile) told to sign and date it...and sent 2 more bank statements...he said call back within 24hrs to make sure the faxes posted to my account..did that sat on hold about 25 minutes waiting to talk to someone... finally got some one he said the faxes were received and that our MHA trial has been extended by 3 months until January 1 2010 he said they are going to be extending everyone as they have more applications than they ever thought possible and are taking them in order of receipt.. I questioned this..was this with the approval of the government he said yes they are aware...He said its always possible they could get to ours before Jan 1st... Yeah right...so be prepared for a long winter and a long wait...has anyone else been told this????

10-02-2009, 04:34 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase The never ending MHA trial period. Yes, may people are experiencing this, but I don't think they got someone as honest as you. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer 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, 04:37 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: Todays saga with Chase I would ask to receive something on paper. I hate dealing with this stuff during this time of year. Fall, and the holidays, is my most favorite time of the year and I'm feeling like there is a huge cloud looming over my head this year. I'm not enjoying much at all. At least they are keeping you informed, I guess. I would call back a few more times just to verify what you were told and also to ask for something in writing.

10-02-2009, 05:42 PM	#4 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 496 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase I already asked he said they are sending NOTHING not even additional coupons he said to make copies of the last coupon I have which is for payment #4 and cross off the 4 and add 5 and 6 he said they never expected so a large response to the MHA plan and are so overwhelmed that they cannot get these done in 3 months as originally claimed....he said now that not to say should they make headway thru all of the applications we could be done sooner than Jan1st 2010 but he said they have been going into the individual accounts and extending the trials mine was not extended as of yesterday but when I called back today my account had been updated with that info..........he further said if we do not comply and make the payments we will be kicked out of the program.

10-02-2009, 07:05 PM	#5 (permalink)
fla borrower Senior Member Join Date: Sep 2009 Posts: 86 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase LItehouse That's a crock! Don't pay anymore trial payments. The MHA Plan requires three payments and NO MORE! This is a stall tactic that Chase utilizes all the time. When it comes time to deny the mod, they will not care how many trial payments you've made. Sorry to sound so jaded, but this bank has changed my way of thinking!

10-02-2009, 07:13 PM	#6 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 496 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase i totally see where you are coming from........has anyone else been told their trial period is being extended?????????? It totally took me off gaurd today.....I said to the guy right away is this a bad sign he said no its not a bad sign at least you didn't get kicked off the program...thats what he said to me.......I found out Loss Mitigation is in Tampa Fla

10-03-2009, 06:12 AM	#7 (permalink)
maryland7 Senior Member Join Date: Feb 2009 Posts: 47 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase Yes...we were told that we were scheduled for 3 additional trial payments. We ended up making 4 trial payments. We just heard two days ago that we are approved for a permanent modification and not to make the 5th trial payment on 10/1 b/c our first permanent payment will be due on 11/1. We haven't gotten the docs yet but we did get a signed copy of our trial period plan in the mail yesterday. I think that is a very good sign. Plus, the fact that they didn't want us to make any more trial payments is very positive. They also did an internal bpo last Sunday. I guess that is is possible that they are very backed up and require an extra month or two to finish processing the mods. The bad news is that our analyst said that their approval rate on permanent mods is only 18%. She said that their upper management is very upset about this number and really wants to help more people. Who knows if this is true or not??? I planned on continuing to make the trial payments as long as necessary so that I wouldn't lose any chance that I had at a permanent mod. Plus, the payments are the same as rentals in my area. I know some people don't feel this way but maybe that is one way the banks weed out who really wants to stay in their house. Good luck!

10-03-2009, 06:42 AM	#8 (permalink)
dan m Senior Member Join Date: Aug 2009 Location: Manteca- California Posts: 134 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase servicers are allowed to extend the trial if they're missing docs that they are required to have. keep making your payments https://www.hmpadmin.com/portal/docs...iver082609.pdf __________________ A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government. — George Washington

10-03-2009, 08:43 AM	#9 (permalink)
caldwellb02 Senior Member Join Date: Nov 2008 Location: Northern CA Posts: 1,774 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase Dan - your post clearly reads that the extension needs to be in writing. Litehouse - make sure you get it in writing.

10-03-2009, 08:57 AM	#10 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 496 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase Thank you Maryland 7...........The guy on the phone said he didn't see any problem and that alot of folks were getting extended by 3 month he said they are so very backlogged..........he further said when I inqiured what to tell on the other side being our 2nd mortgage(trial completed on the 2nd) because they keep asking the status on the first mortgage before they can close ..he said just tell them we were extend by 3 months and that they are backlogged..

10-03-2009, 09:02 AM	#11 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 496 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase Danm & caldwellb02...............I wasn't missing any documents at all.........when I called the day before the day my 3rd trial payment posted I was told that my account would go in to whats called review and just to fax a copy of a utility bill that has our name and address on it( has anyone had to fax a utility bill) and to sign the 2nd page of our 2008 tax return and re fax that the said all the people who efile don't sign their return

10-03-2009, 09:15 AM	#12 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 496 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase Maryland7..... did they ask you for a copy of your utility bill? And did they want you to sign the 2nd page of your 2008 tax return(if you filed electronically)?

10-03-2009, 09:30 AM	#13 (permalink)
a2kman Senior Member Join Date: Jan 2008 Posts: 63 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase litehouse01, After my 3rd payment they also had me send in an updated utility bill I also did had to send them a signed tax return even though I filed electronically.

10-03-2009, 09:32 AM	#14 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 496 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase Whats your latest what are they telling you did you get extended by 3 months?

10-03-2009, 09:49 AM	#15 (permalink)
dan m Senior Member Join Date: Aug 2009 Location: Manteca- California Posts: 134 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase A servicer must confirm that the property securing the mortgage loan is the borrower’s primary residence as evidenced by the most recent signed federal income tax return (or transcript of tax return obtained from the IRS), a credit report and one other form of documentation that would supply reasonable evidence that the property is the borrower’s primary residence (such as utility bills in the borrower’s name). proof of residency __________________ A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government. — George Washington

10-03-2009, 09:52 AM	#16 (permalink)
maryland7 Senior Member Join Date: Feb 2009 Posts: 47 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase No...they didn't ask for an updated utility bill. I would imagine that they are asking for this bill to see that you still occupy the residence. Since we had an internal BPO done, they wouldn't need our utility bill. Our house is underwater $300K now due to living in a bad market area...I think that they needed to verify that our house was this underwater with the BPO. As for our tax returns, we also filed electronically but signed a copy before we sent it over to Chase. Hope this helps.

10-03-2009, 05:09 PM	#17 (permalink)
CHANLY Senior Member Join Date: Sep 2008 Posts: 74 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase My trial payments were july, aug sept and i was told that i would need to keep paying until dec b/c they are backlogged. I asked what info they might request and was told the last 2 bank statements but i have not been told to send anything in yet.

10-03-2009, 06:59 PM	#18 (permalink)
maryland7 Senior Member Join Date: Feb 2009 Posts: 47 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase I was wrong...I checked with my husband and we did send a utility bill to Chase...just part of the long drawn-out process:-)

10-03-2009, 07:01 PM	#19 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 496 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase Thanks Maryland 7 I hope this process has a positive conclusion for us as well......

10-04-2009, 08:27 AM	#20 (permalink)
vinnyb Member Join Date: Sep 2009 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase We finished our trial in August and stopped paying. We have only had one phone call requesting more paperwork. They never send any written mail and i will not send more money untill i have something in writing. It is like they forgot about us. This is taking a toll on my wife as she is literally sick over the not knowing. To the point we are considering packing up and leaving to provide some stability in our lives. I have actually been contacted by an attorney who says we have a pain and suffering law suit.

10-04-2009, 08:51 AM	#21 (permalink)
SBBLUEWATER1 Senior Member Join Date: Sep 2009 Posts: 62 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase VinnyB - We are in the same boat. Last payment was for August 1. Chase told us to not make any more payments as final loan mod docs were "on the way to us". Nothing so far and no calls from Chase yet. It is like we don't exist anymore. If the final docs ever show up I will be amazed. I'm feeling like it is all a game to them and they will eventually just foreclose on us anyway.

10-05-2009, 07:32 PM	#22 (permalink)
pbharris4 Senior Member Join Date: May 2009 Posts: 107 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Todays saga with Chase Maryland7...so glad to see you got you perm. mod!!

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