My fedex came today with my perm loan mod docs!!

[Shelly17]

I came home today and there was the fedex....yipee!
It is just like it I was told the 2% to 5%.
I am so happy this nightmare is over!!!!



Below is the post I had already posted on 10/1 sent out with my info:

Moday chase collections called and left me a message, I call her back that night and she said she just wanted me to make my 5th tiral mod payment by 9-30-09 for what ever reason...and when she looked up my file she said..Oh I see your perm mod was just approved today...that was not in there when I had called you earlier...I said oh good and I had already put the check in the mail today for my Oct payment...not sure when it willl arrive.
So I called my analyst Sandy who ALWAYS calls me back and I left a message asking her if this was true.
Well today she called me and said yes, my perm mod was approved. She had just got a bunch in and has not got a chance to call everyone.
So here it goes:
443 months
5yrs @ 2%
6th yr @ 3%
7thyr @ 4
8th til the end @ 5%

My payment is 35% of our income..because they added in my husbands yearly bonus he got this year.

So my new payment is $268.67 more then my trial payment

Total savings of $1,436.00 mo.

She said it now goes to a thrid party they hired to get the paper work out and it should be from 1-3 weeks away.

And also I mailed my Oct payment and she said that will go toward my Nov payment..so just mail $268.67 for Novembers payment....

I know I have heard others get this phone call...so I won't hold my breath for the fedex to come. But when she told me they didn't figure in my Oct payment and to only send additional amount for Nov I kinda believer her.

I will keep everyone posted!

Thanks,

[maryland7]

Wow...congratulations! You must be so happy!!! We are waiting for our permanent docs too...we were also told NOT to make an October payment as we are due on 11/1 for our first permanent modification payment.

After hearing your story, I actually believe that we might get our papers soon!!! I was wondering how they would send the documents...now I know to look out for the fed-ex guy! I might hug him if he shows up!!!

[moosies]

Congratulations! Take a big sigh of relief now. There seems to be a trickle of good news coming in of late!

[rachel_p]

Wow!!!!! a HUGE Congratulations to you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! What a relief it must be to be done with this!!!!!!!!!!!

Congratulations again!!!!! This gives the rest of us hope!!

[cliffdweller]

Congratulations Shelly! Very happy for you and that is a really nice modification!

Enjoy the holiday season in style!

[BobandArlyn]

Excellent shelly17!!! Very excited to see the modification so favorable for you! Enjoy a good night's sleep!!!

[litehouse01]

Congratulations!!! This is indeed wonderful news and it gives hope to the rest of us. God bless you and I am thankful your nightmare with Chase has ended...Sleep well enjoy life the best is yet to come............. keep us posted when the docs fianlly arrive

[bloominga]

Congratulations!!!! I am so very , very happy for you!!!!

[Stuart C]

Happy to see that it can really work like it's suppose to Shelly! I've made my first 2 payments on my trial and all these denials I keep reading about make me nervous.

[CHANLY]

Hooray!!! Now you can move on with your life LOL. So now you just sign it and it's official? Thanks for inspiring us that there is some hope!

[smit5454]

OMG I hope this is a sign. The 2-3-4% etc. is EXACTLY what I have been told all along! Now I'll be looking out the window EVERY day for that Fed-Ex man to come a driving down the street!!!

[gordilox86]

Congratulations.

I am also waiting for my permanent documentation from Chase. My permanent loan modifcation was approved as follows:

Term - unchanged (344 months)
5 year fixred Rate - 2.375%
6th year - 3.375%
7th year - 4.375%
Therafter - 5.375% fixed

SAVINGS:

Immediate savings of $925 per month.

CREDIT REPORTING:

I was current when I entered the HAMP Trial Period Plan and so far no negative information has been reported by Chase to Credit Bureaus. My credit report shows I have made all mortgage payments current.

TIMING:

I entered the Trial Period Plan effective June 1, 2009, made 4 Trial Period Payments. A few days after making my 5th payment I received a call from Executive Resolutions that permanent documents had been sent to Freddie Mac for signature. My first payment under permanent modification will be November 1, 2009. So it took Chase 5 months of Trial Period Payments to get their job done (in violation of guidelines). This process was not easy, took me a total of 160hrs of research, phone calls, correspondence and follow up...

[Shelly17]

Gordilox- It does say in the final paperwork, that you are required to only make 3 payments and the additional payments will go toward your loan balance and incentive program. I didn't really understand that part but it said if you don't want that to call. So I will be calling just to see what my options are.
Hope this helps a little.

[pbharris4]

Congratulations!! For those that are getting permanent mods....could you also list your stats i.e. 3 months behind, how much upside down, how many trial payments, did yo have to go through special channels, and your debt load..credit wise, Bk vs. no BK? We made our 3rd trial payment which was due Oct.1st but we paid it Sept. 21st. Oh..and what TYPE of loan you were trying to modify..fixed, arm, etc. Thanks.

[pbharris4]

Bumping.....can anyone answer my previous question?

[BobandArlyn]

Congratulations for everyone receiving permanent modifications! We are really happy for you and that terms are good. Enjoy your success.

It seems, though, that Chase gives one mod for every home they steal.

[Shelly17]

Pbharris,
Let me see if I can answer you questions.
We were 3 months behind.
We are aprrox 350 upside down...bought for 750 maybe worth 400k
We made 5 trial payments.
No Special channels...I got ahold of a helpful lady and called her everytime
We will file BK now that our mod is over.
We had an iterest only for 3yrs...would add prin next year.

Hope this helps...let me know if you have any other questions.

Thanks,
Shelly

[litehouse01]

Maryland 7, if you don't mind my asking you don't have to give any particulars when you did you financial information sheet did you run it both ways in other words with your original mortgage payments and all expenses showing a deficet every month (that confirms for them need for modification) and then run your numbers with the same financial info and the trial payments for your first and second mortgage? I did I am getting ready to fax the financial sheet today. I am wondering how much cushion they are looking for after modification..right now I would have about 600.00 and have no clue whether its too much or too little..is there a formula you used or rule of thumb? Any thoughts would be appreicated since you have dealt with chase longer than I....I am getting ready to make my 4th payment next week..Thanks

[litehouse01]

SHelly 17 maybe you could also answer the question I asked Maryland 7 In the post right above this one about what is considered not enough or too much cushion to show having after modification...Thanks

[Shelly17]

Sorry litehouse...I never filled out an financial sheet. I only had to fax over paystubs, hardship letter and taxes for 06, 07 and 08.
Sorry I can't help you there.

[c150000]

shelly17
you never filled out a financial sheet?
i didnt either. the hamp trial packet didnt even ask.....
but earlier i had filled out the regular chase expense sheet
i wonder if they will use that? because i needed to add some things
like heat and fire tax...........
so you didnt even have to show a surplus or deficit?
this was fannie mae hamp or something diffrent?

[homesweethome]

Congrats, this gives people hope....

[litehouse01]

cheryl150000 you may end up having to fill one out I just got one in the mail to fill out..it was very difficult when I run the numbers my way it show a deficet with the original mortgage and a surplus using the trial payments..who knows it is in the lords hands..I just have to keep praying....

[Shelly17]

Cheryl,
No I never had to show any bills or anything like that. Just my paystubs and taxes.
My loan is a Chase owned loan...maybe that's why. Not sure.

[maryland7]

I never had to do a financial sheet either...we also have a Chase owned loan.

I will feel much better when I have the final paperwork in my hands! I hate waiting for the fed-ex guy everyday...only to be disappointed! We are supposed to check in today with Chase...our analyst was going to research why we don't have our final paperwork. Can't wait to hear what she says!