Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work - Loan Modification Forum

ChaseVictim · 10-24-2009, 07:19 PM

I applied for a HAMP Loan Modification back in April '09. I called in weekly to check status. In July, I was told to resubmit all my documents because a new department- Imminent Default was created and your documents are sitting somewhere in Loss Mitigation. I resubmitted all my documents and waited three months until I was dropped a bomb yesterday. I was denied the HAMP because my hardship is not "permanent in nature". I asked why and the rep stated that at the time of loan origination in 2007 my wife worked. I explained to her that I am working (reduced income) and my wife is looking for work and that is why I applied for assistance. Also, I lost my rental property to a Short Sale in August. It appears that Chase is making up there own rules for the HAMP. If anyone wants to file a class action law suit with me I spoke to my attorney. Please email me at stevenmk77@hotmail.com.

Many Thanks to all, Evan and Moe for this wonderful site!!

litehouse01 · 10-24-2009, 07:59 PM

Had you actually started the trial payments? This is awlful I am so sorry this happened to you....had your wife lost her job and was looking for work? Its like they are saying well if both borrowers were working when the loan was taken out then both have to continue to work first I heard of this one.....peoples circumstances change I don't think thats fair they use that for a reason....I think they look for anything and everything to deny people.

ChaseVictim · 10-24-2009, 10:06 PM

Litehouse01 thanks for the response. I have been current all along and garnishing my IRA since my hardship began early this year. I was never offered trial payments because i'm current. Well that will change this month because i've put a halt on taking the 10% penalty on my IRA which was a 401K rollover last year. I don't understand why the bank flat out denied me on the basis of my wife being unemployed and our situation not being permanent in nature. I called in every other day since July and once the loan was placed in underwriting I was told that multiple times that we are waiting investor approval- Fannie Mae. Well that was a load of BS. I don't believe my file ever was presented to Fannie Mae. A month ago, I called Fannie Mae Level II support and they confirmed nothing had been presented to them from Chase on my behalf. This bank is hiding behind there website that claims it's helping people.

https://www.chase.com/chf/mortgage/keeping-your-home

Does anyone see anything within the US Treasury HAMP guidelines or directives that it states specifically that it's a requirement for both the borrower and coborrower to have a job? I feel gifted to have a job in this economy and I pray for many others who do not. Again, the whole idea behind the hamp is the provide assistance to struggline homeowner's.

briknope · 10-25-2009, 03:11 AM

Again, the question is are you current on the house that you currently reside in? I understand you "lost" a rental property by executing a short sale, and I am sorry to hear that, but knowing if you are current or not on your primary residence will help the group out.

caldwellb02 · 10-25-2009, 05:08 AM

ChaseVictim - I got the same denial. I was current when I got the denial. I had been "working" with Chase since Jan. I am now two months... almost 3 in default. They now say they are "reviewing" again. I have to regroup today because I am really not sure WHO at Chase is doing the reviewing. Every time I decide to pick up a collections call (about once a week or so) and after I tell them I cannot pay they say that they can see from my file that I am in review, but don't say who I should call.

I'm also working with NACA. Actually went to one of their Save the dream events in San Fran last week. The Chase rep there was really clueless. She said that the
"restructure" proposal had to be reviewed by my lender and I would know in 5-10 days. Now on the NACA site I see they have denied that one due to "insufficient income." According to HAMP, I need to go to credit counseling if the bank thinks there is "insufficient income," but that that should be no reasonfor denial. My income has not changed since January.

Anyhow, join the club. Class Action against Chase? Tell me more.

fla borrower · 10-25-2009, 06:43 AM

Hi Chase Vcitim

Please tell us more about the class action suit. I believe a lot of us in this forum would be extremely interested in knowing more. I am at that point myself, after a year and a 1/2 of dealing with these bozos!!!

Mountain life · 10-25-2009, 08:36 AM

Caldwell: I also have not paid my mortgage for the past two months after being denied (while current) by Chase for a hardship not permanent in nature. While I am waiting for NACA and HOPE progress on my behalf, I am re-applying for an in-house CHASE modification because now that I am late on my payments, I was told by CHASE I could qualify. I am planning to make a mortgage payment in November because I am afraid if I go three months without a mortgage payment in California the servicer can begin foreclosure proceedings. Good luck to you.
Chase Victim: I would also like more information on a class action suit.

shade · 10-25-2009, 04:27 PM

If Chase did not present the file to your investor which is Fannie that is a huge no no. While one person is employed that is more than enough reason. I am very curious as to your outcome as I am in the exact same boat. We have one income and I have been working through the executive resolution group who specifically told me that one income is fine (at the time our trial was approved we were both on unemployment). Our ET rep said as long as one person has steady full time work this wont disqualify you from a permanent mod. In your situation I would definately start working with an attorney. PLEASE keep this thread updated on your progress as I think you will get a perm mod now you have an attorney involved.

litehouse01 · 10-25-2009, 05:19 PM

Was your back end dti (if over 55%) part of the issue or reason for denial? Was it ever mentioned?

ChaseVictim · 10-25-2009, 07:04 PM

Briknope. I am current on my primary and only residence but that is going to change this month because I cannot make my payment by empting my IRA and taking a significant tax hit. I wasn't denied on the basis of my DTI ratio. DTI was ok at time of loan origination and has changed drastically due to the circumstances. The bank straightout denied me because my coborrower is unemployed. The rep recommended that I call back and dispute when your wife finds a job. Let me know if anyone has been denied because there coborrower is out of work, but you are currently working.

BadBobMo · 10-25-2009, 09:05 PM

All I can say is they can't get any lower than this, kicking someone when there down on the ground. Very Very Sad indeed!!!

MALIZNA · 10-26-2009, 09:21 PM

Oh yes, they can get lower than that, they are the scum of the scum... my brother 5 TRIAL PAYMENTS, faxing 10 months of bank statements ONLY TO BE DENIED permanent loan mod stating same crap, hardship not permanent in nature and get this MAKING TOO MUCH MONEY... Huh???? They had income from the first day...
Wonder if the Chase Exec's lost their million dollar jobs and had to get paid 100K a year instead if they felt their hardship was not permanent..

10-24-2009, 07:19 PM	#1 (permalink)
ChaseVictim Senior Member Join Date: Oct 2009 Location: Near Chicago, IL Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work I applied for a HAMP Loan Modification back in April '09. I called in weekly to check status. In July, I was told to resubmit all my documents because a new department- Imminent Default was created and your documents are sitting somewhere in Loss Mitigation. I resubmitted all my documents and waited three months until I was dropped a bomb yesterday. I was denied the HAMP because my hardship is not "permanent in nature". I asked why and the rep stated that at the time of loan origination in 2007 my wife worked. I explained to her that I am working (reduced income) and my wife is looking for work and that is why I applied for assistance. Also, I lost my rental property to a Short Sale in August. It appears that Chase is making up there own rules for the HAMP. If anyone wants to file a class action law suit with me I spoke to my attorney. Please email me at stevenmk77@hotmail.com. Many Thanks to all, Evan and Moe for this wonderful site!!

10-24-2009, 07:59 PM	#2 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 497 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work Had you actually started the trial payments? This is awlful I am so sorry this happened to you....had your wife lost her job and was looking for work? Its like they are saying well if both borrowers were working when the loan was taken out then both have to continue to work first I heard of this one.....peoples circumstances change I don't think thats fair they use that for a reason....I think they look for anything and everything to deny people.

10-24-2009, 10:06 PM	#3 (permalink)
ChaseVictim Senior Member Join Date: Oct 2009 Location: Near Chicago, IL Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work Litehouse01 thanks for the response. I have been current all along and garnishing my IRA since my hardship began early this year. I was never offered trial payments because i'm current. Well that will change this month because i've put a halt on taking the 10% penalty on my IRA which was a 401K rollover last year. I don't understand why the bank flat out denied me on the basis of my wife being unemployed and our situation not being permanent in nature. I called in every other day since July and once the loan was placed in underwriting I was told that multiple times that we are waiting investor approval- Fannie Mae. Well that was a load of BS. I don't believe my file ever was presented to Fannie Mae. A month ago, I called Fannie Mae Level II support and they confirmed nothing had been presented to them from Chase on my behalf. This bank is hiding behind there website that claims it's helping people. https://www.chase.com/chf/mortgage/keeping-your-home Does anyone see anything within the US Treasury HAMP guidelines or directives that it states specifically that it's a requirement for both the borrower and coborrower to have a job? I feel gifted to have a job in this economy and I pray for many others who do not. Again, the whole idea behind the hamp is the provide assistance to struggline homeowner's.

10-25-2009, 03:11 AM	#4 (permalink)
briknope Senior Member Join Date: Jan 2009 Posts: 173 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work Again, the question is are you current on the house that you currently reside in? I understand you "lost" a rental property by executing a short sale, and I am sorry to hear that, but knowing if you are current or not on your primary residence will help the group out.

10-25-2009, 05:08 AM	#5 (permalink)
caldwellb02 Senior Member Join Date: Nov 2008 Location: Northern CA Posts: 1,785 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work ChaseVictim - I got the same denial. I was current when I got the denial. I had been "working" with Chase since Jan. I am now two months... almost 3 in default. They now say they are "reviewing" again. I have to regroup today because I am really not sure WHO at Chase is doing the reviewing. Every time I decide to pick up a collections call (about once a week or so) and after I tell them I cannot pay they say that they can see from my file that I am in review, but don't say who I should call. I'm also working with NACA. Actually went to one of their Save the dream events in San Fran last week. The Chase rep there was really clueless. She said that the "restructure" proposal had to be reviewed by my lender and I would know in 5-10 days. Now on the NACA site I see they have denied that one due to "insufficient income." According to HAMP, I need to go to credit counseling if the bank thinks there is "insufficient income," but that that should be no reasonfor denial. My income has not changed since January. Anyhow, join the club. Class Action against Chase? Tell me more.

10-25-2009, 06:43 AM	#6 (permalink)
fla borrower Senior Member Join Date: Sep 2009 Posts: 86 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work Hi Chase Vcitim Please tell us more about the class action suit. I believe a lot of us in this forum would be extremely interested in knowing more. I am at that point myself, after a year and a 1/2 of dealing with these bozos!!!

10-25-2009, 08:36 AM	#7 (permalink)
Mountain life Senior Member Join Date: Jul 2009 Location: Southern California Posts: 107 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work Caldwell: I also have not paid my mortgage for the past two months after being denied (while current) by Chase for a hardship not permanent in nature. While I am waiting for NACA and HOPE progress on my behalf, I am re-applying for an in-house CHASE modification because now that I am late on my payments, I was told by CHASE I could qualify. I am planning to make a mortgage payment in November because I am afraid if I go three months without a mortgage payment in California the servicer can begin foreclosure proceedings. Good luck to you. Chase Victim: I would also like more information on a class action suit.

10-25-2009, 04:27 PM	#8 (permalink)
shade Senior Member Join Date: Apr 2009 Posts: 218 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work If Chase did not present the file to your investor which is Fannie that is a huge no no. While one person is employed that is more than enough reason. I am very curious as to your outcome as I am in the exact same boat. We have one income and I have been working through the executive resolution group who specifically told me that one income is fine (at the time our trial was approved we were both on unemployment). Our ET rep said as long as one person has steady full time work this wont disqualify you from a permanent mod. In your situation I would definately start working with an attorney. PLEASE keep this thread updated on your progress as I think you will get a perm mod now you have an attorney involved.

10-25-2009, 05:19 PM	#9 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 497 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work Was your back end dti (if over 55%) part of the issue or reason for denial? Was it ever mentioned?

10-25-2009, 07:04 PM	#10 (permalink)
ChaseVictim Senior Member Join Date: Oct 2009 Location: Near Chicago, IL Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work Briknope. I am current on my primary and only residence but that is going to change this month because I cannot make my payment by empting my IRA and taking a significant tax hit. I wasn't denied on the basis of my DTI ratio. DTI was ok at time of loan origination and has changed drastically due to the circumstances. The bank straightout denied me because my coborrower is unemployed. The rep recommended that I call back and dispute when your wife finds a job. Let me know if anyone has been denied because there coborrower is out of work, but you are currently working.

10-25-2009, 09:05 PM	#11 (permalink)
BadBobMo Senior Member Join Date: Feb 2008 Posts: 194 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work All I can say is they can't get any lower than this, kicking someone when there down on the ground. Very Very Sad indeed!!!

10-26-2009, 09:21 PM	#12 (permalink)
MALIZNA Member Join Date: Oct 2009 Posts: 29 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied by Chase -Hardship not permanent in Nature because wife who is the coborrow is unemployed and looking for work Oh yes, they can get lower than that, they are the scum of the scum... my brother 5 TRIAL PAYMENTS, faxing 10 months of bank statements ONLY TO BE DENIED permanent loan mod stating same crap, hardship not permanent in nature and get this MAKING TOO MUCH MONEY... Huh???? They had income from the first day... Wonder if the Chase Exec's lost their million dollar jobs and had to get paid 100K a year instead if they felt their hardship was not permanent..

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