modifications are a joke!

[midi1975]

to make a long story short, my husband lost his job last December, we instantly asked Chase for help and was told "if we were not behind they could not help us" we missd 3 payments and they began to work with us on a "trial modification" We have made 7 trial mod payments and yesterday we recieved a fed ex telling us we were denied because our situation is not permanent.We have jumped through every hoop they have asked of us, I am pissed, we are seeing a lawyer next Monday, Chase is not getting away with their empty promises. Beware to those who have just started this process, It is a huge heartbreak!!!!!

[sadness]

sorry about the mess you have to go thru with chase. sadly, they are torturing us all

[caldwellb02]

midi - that reason is one that many of us have gotten and it is absolutely ridiculous. I don't know who comes up with this stuff. So sorry. Glad you are keeping up the fight though!

[Evan Bedard]

Hi midi1975 welcome and thank you for joining.

Sorry to hear about the struggles you have gone through. This is probably one of the most difficult tasks an individual must face but the income is usually awesome. Did you continue to follow up on your case weekly after the three month trial was complete?

[Marie T]

The thing to remember is that computers are doing a lot of the work on these and kicking out the mods if it does not exactly fit in the guidelines....I believe that Chase wants a lot denied upfront in the hopes that they won't have to deal with the homeowners. IMHO

I do not have a FreddieMac or FannieMae backed loan (my loan is with WAMU and never sold to an investor) so really felt like I had no way at all to hold Chase's feet to the fire and do anything for me after being denied the first time (by the computer) for lack of income and then later offered a trial payment plan when I resubmitted that was $700 more a month than the original payment I could not afford!

I have also hired an attorney in the hopes that he will be able to cut through the front-line minimum wage people at Chase who can only read what the guidelines say on the computer screen and want you off the phone. Be very careful who you hire as far as an attorney...I spent more than a week researching and calling and one attorney's name kept coming up as someone who was good at doing mods. I pray that I made the right choice here as it is another bill to pay.

I am freaking out since I am 4 months past due but I do feel that hiring an attorney has helped my anxiety a little.

[Marie T]

Originally Posted by Evan Bedard

Hi midi1975 welcome and thank you for joining.

Sorry to hear about the struggles you have gone through. This is probably one of the most difficult tasks an individual must face but the income is usually awesome. Did you continue to follow up on your case weekly after the three month trial was complete?

Evan...one of the issues I have had is that after Chase put me on the trial modification plan, they would not talk to me...

I made one regular payment during that plan but since it wasn't the increased trial payment, I have since discovered that they did not even apply it so now I am really behind. I am really praying that the attorney can help me with it. I really do not get that since I never agreed to or signed the trial plan since the payment was $700 more than what I had been paying and they would not tell me what it included.

[kevin91]

Good evening midi-today I called Chase about my loan mod status. My wife got hurt on vacation in July and just went back to work 2 weeks ago. They told me because she wasn't working when i sent the app. for the mod in to them, they were unable to process the loan mod. Now today, over the phone I gave them an estimate of my wife's take home pay and like magic they quoted me a pre- approved trial mod of 5.25 fix rate down from 6.87 and a 1100 payment down from 1300 due Nov. 12. Currently, we're 3 mos. behind. And they said Fed-ex will be delivering something in 7-10 days. Just seems too good to be true somewhat. So seeing what you posted about you situation midi, I will be watching this closely and will be looking for an attorney to make sure this gets done.

[SwillerAlesbane]

See how it works? You are ALL supposed to only make THREE trial payments, THEN they are to modify your loan.

It seems to me that when people are making these trial payments for extended periods, Chase seems to think you have no hardship....the solution since day 1.....STOP PAYING.

Working for me, 150 days and still no NOD. If they really want to work with me, they have all my numbers....10x over.

[MHAP76]

I received notice of intent to foreclose from Chase and it came with the little pamphlet of their commitment to avoid foreclosure. In it they stated
> >
“Chase has recently enhanced and expanded its Modification Programs to include a wide array of hardship situations like layoffs, job loss or short term income reductions, and PERMANENT HARDSHIPS like death of a spouse, disability, divorce, or severe medical situations”
> >
The mod is supposed to help people whether it’s temporary or permanent hardships.

[MHAP76]

Don't know how the happy faces got in the post. The situation certainly is nothing to be happy about.

[ChaseVictim]

MHAP76,

The letter that you received stated that Chase is updating their process of how they are determining hardship?

“Chase has recently enhanced and expanded its Modification Programs to include a wide array of hardship situations like layoffs, job loss or short term income reductions, and PERMANENT HARDSHIPS like death of a spouse, disability, divorce, or severe medical situations”
> >
The mod is supposed to help people whether it’s temporary or permanent hardships

I would love to get my hands on that letter. Can you whiteout your personal info and send me the body of the message. My lawyer who is currently handling my "Hardship not permanent in nature" , "loss of employment by coborrower" case. would love to see this

My email is stevenmk77@hotmail.com

[ChaseVictim]

Mhap76, please scan and send it pdf format to my email on my previous post. Again omit any personal info. This letter can assist many in getting their denials overturned because it appears many of us are fighting back and being heard.

This a great news!!

[MHAP76]

It’s a pamphlet, not a letter. It came when I received the notice of intent to foreclose. I attached the pamphlet here for your use. See 2nd page under "You do have options"

[ChaseVictim]

Thanks MHAP76! Sorry I should of said Pamphlet. This is great! I'm sending this over to my attorney now. Many Thanks!

[MHAP76]

You're welcome. Hope everything works out for you.

[ChaseVictim]

Likewise. I was recently denied on the basis of my Hardship "not permanent in nature" -my coborrower (which supported a good portion of the household income) is currently unemployed and looking for work. According to the pamphlet it appears Chase should not have denied me and many others in the same boat. Thanks again for sharing.

[midi1975]

Spoke to a lawyer today, He has several clients in same situation, he is reviewng our paperwork and we have another appt. next week, His advice... DO NOT PAY THEM ANOTHER PENNY!!!! His words, the trial mod is a contract and they now are in breech of contract, we will see how this all plays out, It is unfortunate, but nice to know we are not alone out there!

[Debca]

Kevin91

Before signing up for this modification...does the TOTAL of the payment include Priciple, Interest, Taxes and Insurance, and HOA, and then secondly, does the payment amount (which should include all of these) equal or come very close to 31% of your GROSS monthly income.

A reduction might look good, but a true HAMP is to conform to the above.

[ChaseVictim]

Midi1975, I will take your advice since I believe Chase has come up with their own rules regarding permanent hardship. THE HAMP or TREASURY DIRECTIVES DO NOT STATE THAT YOUR HARDSHIP MUST BE PERMANENT IN NATURE. Please if anyone has read anything regarding that otherwise proves me wrong please share.

Lastly, can you keep us update to date on what your attorney has determined? I'm working with one myself just started this week. The treasury guidelines are pretty straight forward and I strongly believe Chase is bending them to their liking. Would you agree?