I have a Chase Mod Question

[prindia]

okay, last week we received our trail mod for October, November and December. My first question is that I called the attorney today and he told me that our sale date is cancelled. Does that mean they cancelled it for good? My other question is I went to pay my homeowners insurance and I was told that it was paid for the rest of the year. I then called to loss lit and they told me to call customer service. When I called customer service I was told that under the agreement for a mod I also agreed to have my account escrowed. So is this a good sign or not? Any feedbacks?

[caldwellb02]

Hi prindia - first it's normal that they would require an escrow account (i.e. pay property taxes and homeowners insurance through the mortgage). What's not so good is that you didn't know that.

Also - if you haven't really read what you signed from Chase and are relying on your attorney I would get a copy of those docs from the attorney and READ them.

And regarding the sale date - I don't know the answer. Unfortunately something is fishy. I hope I'm wrong. Call your attorney. See if he/she got something in writing about "cancelling" the sale date. If not, find out who they talked to and call them. I'd like to think it was really cancelled, but please know that they could come back around and deny the mod after the trial. What you need to find out is if they do that, what is your timeframe for a new sale date? You have to stay on top of this even though you're paying an attorney. This is your home. Good luck.

[prindia]

Thanks for your response..

I don't have an attonery for myself. I contacted the attonery for chase. I do have all of the documents that chase sent me and I think I pretty much understand it. I was just suprised that everything happened to fast since I just sent them the first payment on Monday and the taxes were paid on Thursday. Yes I do keep up on it. I make phone calls everyday and I have Hope Now and just started the process with NACA. My goal is to keep my home so I am trying my best to do that.

[roamer]

I agree that you should get a letter from chase that states they have either canceled the sale or postponed it.

If you have the paperwork for the trial mod workout then you are in good shape, everything gets postponed while that is working. If you haven't already sent the paperwork in make sure it is for a modification. Just make sure you pay all 3 payments on time. once you have done the 3 payments you won't need to do anymore till they send you the paperwork for your new loan.

[caldwellb02]

Prindia - you contacted the attorney for Chase? Can you share that info?

also - so glad you are on top of this. I was worried there was some attorney working for you who might be scamming you. Very relieved to hear that is not the case!

[prindia]

Originally Posted by roamer

I agree that you should get a letter from chase that states they have either canceled the sale or postponed it.

If you have the paperwork for the trial mod workout then you are in good shape, everything gets postponed while that is working. If you haven't already sent the paperwork in make sure it is for a modification. Just make sure you pay all 3 payments on time. once you have done the 3 payments you won't need to do anymore till they send you the paperwork for your new loan.

Oooh yes it's for a modification, the first set of papers they sent me was for a forbarance and I told them I didn't want that I wanted to be in the MHA plan. (thanks to this board). I did send in all the paperwork along with the first months payment which is less than 1k then what i was paying before.

Just a little history on my situation
we purchased a home in GA 07 our rate was 9.75 arm. our payments were 1945.00 without taxes and insurance. our insurance is 510.00 a year and taxes are 2800.00. I had surgery early this year and was out of work for three months we used all of our savings for mortage and bills. Then my husband had an accident outside of work in july which he was out of work for three months (now he is back) He used to work two full time jobs but lost one. So now we are at 4800 gross a month between the two of us. We were offered 944.06 on trail because he was still on disibility (he was getting 55.00 a day). So we do expect our payments to go up when they ask for updated paystubs by two or three hundred.

[prindia]

Originally Posted by caldwellb02

Prindia - you contacted the attorney for Chase? Can you share that info?

also - so glad you are on top of this. I was worried there was some attorney working for you who might be scamming you. Very relieved to hear that is not the case!

I contacted the attorney that sent me the sale date on my home. I contacted them after I did the paperwork for a trail mod. They told me it was cancelled but guess what? I will call again on Monday, Tuesday, Wednesday matter of fact everyday till I get a final mod