Need help with chase 2nd mort

[mijensen]

I hope someone can give me some help with understanding what my situation is the person I spoke with at Chase was no help....

Summary:
BK discharge in March
1st mort w/ GMAC - just rcvd mod trial payment paperwork - payments to start Nov 1st.

Chase has had my 'complete' package since end of July. I have called weekly like instructed. I just hung up with them. The person told me that they have removed my account from modification status and it is now in 'charge off' status and is being sent to the 'recovery' department? He said I will be contacted by either their recovery dept or a 3rd party? He said most likely a 3rd party. WHAT DOES THAT MEAN??

Any help you can give me would be great.....I was so excited to recv my trial mod from our first last week and now I dont know what to do?

Please help

[patrick0]

I'd like to follow your progress as I also have 1st mortgage w/GMAC and 2nd mortgage w/CHASE.

I fumbled on a near miss for a permanent mod that was just about ready to be completed with GMAC (unbeknowst to me) by bringing my account current after receiving a breach letter. Since my account is current, they cancelled my approved permanent modification.

CHASE had agreed to modify my payments for 1 year only.

I plan to re-apply a 2nd time to GMAC for a loan modifcation, and hopefully I won't make any mistakes on the second time around.

[mijensen]

Hi Patrick,
Thanks for responding. When you say 'near miss', had you made the trial payments w/ GMAC? I was very excited to get our trial payment paperwork and then read about all the people that completed that process and got denied anyway.

I am still not to sure about the charge off status on our 2nd. Our BK attorney said that they will probably come back to us with a settlement of somesort?

[patrick0]

mijensen --

Yes, I made payments under a GMAC forbearance plan.

I also have a temporary modification of my second with CHASE.

-- patrick0