| Junior Member
Join Date: Nov 2009
Posts: 4
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Chase Remod & Forbearance Denials(+names/phone#'s!)
Hi All,
Well, seems as if I am not alone  Very glad to have found this forum. Apparently I am not the only one who received the "not a permanent hardship" denial for a remod. Having learned that this seems to be a typical bogues response, I have asked one of Jamie Dimon's apparent assistants to tell me what is considered a permanent hardship. I will let you know what her answer is. Better yet, I will list her name and phone number so that all who are interested can call her to ask the same question. (Patty Baker- 312 732 6116) I will post my story below in the form of the letters that I have written to Chase and one written to a newspaper (which I later discovered seems to be owned by Chase). I will of course leave out my private info. I have been dealing with Jamie Dimon's assistants & the Executive Response Group for about six weeks to no avail. However, as I have informed Patty Baker, my go between to Jamie Dimon, I will continue to call everyday if need be until my questions are answered by Mr. Dimon. I would very much appreciate it if that when you call Patty Baker, you mention that Alan suggested you call her. Below, I will also list the names & phone numbers of two other assistants of Jamie Dimon with whom I have been working, as well as a member of the Executive Response Group. Please do let them know that Alan gave you their numbers. Here is my story in the form of letters sent out, keeping in mind that these letters to Chase do not include the countless phone calls & emails to lower lever supervisors.
FIRST LETTER (also sent to Frank Bisignano & David Lowman) September 22, 2009
James Dimon, CEO
JP Morgan Chase
Dear Mr. Dimon,
I am writing you with the hope that you will be able to help us in some way to keep our home as we have exhausted all other options with Chase/WAMU. Five months ago I submitted the application for a loan remodification and/or forbearance. Unfortunately, we were recently denied due only to insufficient income as I am collecting unemployment. I have a small child, a wife and two dogs, all of whom need a home. Unfortunately, I lost my job and we are struggling to pay the bills. I have been tirelessly seeking employment yet to no avail. President Obama’s assistance plan sounded like it may help us with our new financial dilemma but, as I said, we were denied despite the fact that we met all other qualifications of the Presidents plan. Initially, all I requested was a few months forbearance to be paid at a later date, but was instructed by WAMU that I needed to submit a Remodification Application to even begin the forbearance process. I had recently been in contact with Jason Coats, a supervisor in the WAMU Imminent Default Department, who informed me that there may be other options even if I was denied the remodification, such as forbearance. He said that before he would send my file back to the Loss Mitigation Department, the Imminent Default Department would first exhaust all of its available options. I have not heard back from him however in almost a week. That coupled with the fact that after five months, we are at the end of our financial rope, is why I am writing to you for assistance.
Let me give you a brief account of the events that have taken place to this point. We began talks with Chase/WAMU pertaining to assistance with our home loan in February, 2009, shortly after I had lost my job. I did not wish to seek assistance in anyway unless absolutely necessary. There is not so much as one late payment to any creditor on my credit report as we always pay our bills on time. My credit scores are still over 700 despite being unemployed. However, on April 14, 2009, I thought it best to seek forbearance as we began having difficulty paying our bills. I was informed by the Loss Mitigation Department at Chase that I needed to submit a Remodification Application to be considered for forbearance. Over the past five months, I have continued to contact Chase regularly, as instructed, to check the status of my remodification and submitted updated documents as needed, which was quite often, as the months went on and documents became outdated. I was told many times to submit documents that had already been submitted. I was told initially that the process could take thirty days to a few months or so. Since our case was moved to the Imminent Default Department a few months ago, I was informed that we should be hearing from our case manager soon. Another month or so went by and still no word from Chase, other that being asked to submit additional paperwork that I had already submitted on numerous occasions. I also learned that WAMU hit my credit report twice within a thirty day period, once on May 27 and again on June 27, the later of which caused my scores to drop unnecessarily.
After months of runaround and constant requests for documents that I had previously submitted, on August 18th, I finally asked Shandia, in Imminent Default, to speak with a supervisor. Initially, she refused to connect me with a supervisor. Only after countless requests and an unfortunately heated conversation did she connect me with Jason Coats. It was an unpleasant experience. I once again resubmitted my entire package, this time to Jason Coats on August 18th and I have been working with him ever since, although he does not always respond. I have not heard from him in about one week.
Although I was expecting to receive a telephone call from Chase Remodification Counselor to discuss my case, I received a denial letter in the mail on September 19th. I have been trying to connect with Jason to discuss other options but have yet to hear from him. Also, I have begun receiving payment collection calls from Chase, although my account is not yet past due. I had to pay July and Augusts’ payments after the sixteen day grace period but was under the impression that as long as I paid within thirty days of the due date, that my payments would not be considered past due. I wish I could pay prior to the sixteenth of every month but my lack of income has caught up with us. I have not yet paid September and if it wasn’t for the help of my family, I would not have been able to pay at all the past few months.
I am actively seeking employment and I cannot imagine that I will be unemployed for much longer. I have never been unemployed for this length of time. Now that I am out of work my wife has also been trying to find a job as well. I should be able to collect unemployment for another six to nine months, considering all of the extensions. Although I can understand if my unemployment income does not meet the minimum amount necessary for a remodification, any amount of payment reduction would be helpful. So, why not re-modify the loan and go as low with the monthly payment as possible? For example, I have a better chance at paying $1500 per month, than $2200 or, as I initially requested, perhaps a forbearance.
As I mentioned, we are at the end of our rope financially. We purchased this house one year ago and had an affordable mortgage. Since that time, I lost my job and the value of our home has plummeted. If there is anything that you can do to assist us, it would be greatly appreciated. Thank you for your time.
Sincerely, Alan
SECOND LETTER
October 7, 2009
James Dimon
JP Morgan Chase
Dear Mr. Dimon,
I am writing to you again to update you of the progress since being sent to the Executive Resolution Group. Unfortunately, nothing can be done to help us, despite the efforts of Melanie Welch, who seemed to try her best.
Here is a quote I found that you made earlier this year,
"I don't think just because someone's underwater they say I don't have to stay there. But they're supposed to pay the mortgage, and we should teach the American people, you're supposed to meet your obligations, not run from them. Because you have a mortgage doesn't mean you should run away as it goes down."
Read more at: Bailed-Out Chase CEO Dimon: People Should Pay Mortgages "Even If They're Underwater"
Well, I have been paying my mortgage despite being unemployed for eight months. The only way I have been able to do so is with the help of family. I will not reiterate my entire experience over the past six months with Chase but I have been trying for that long to receive a forbearance and/or a remodification only to be shuffled around and finally rejected once again, even with the help of the Executive Resolution Group. The point here is to let you know that I cannot receive a forbearance or any help from the Loss Mitigation Dept. as I am current with my loan! So, in other words, I am being penalized for paying.
I find this especially upsetting considering your words, particularly "But they're supposed to pay the mortgage, and we should teach the American people, you're supposed to meet your obligations, not run from them."
I am paying and not running. I have never so much as been late with a bill but unfortunately, despite all of my efforts, I am still unemployed. I assure you that I am doing everything possible to remedy our financial situation. But, in the meantime, I am trying to take advantage of the help that I thought was available via the president’s remodification plan, forbearance or any other plan available with Chase. Unfortunately, I do not qualify for the remodification as unemployment is not considered a permanent hardship although the jobs to which I am applying do not pay what I am accustomed to earning. The Imminent Default Dept. can not help me in any other way.
Also, I cannot receive any assistance from the Loss Mitigation Dept., where my file originated, as I am current with my mortgage. Again, I am being penalized for paying my mortgage and trying to maintain my credit scores. It seems that if I do not pay my mortgage, I will be able to reapply for a forbearance and possibly other forms of assistance. I find this prospect disheartening, that after all the work invested and family financial assistance, that I am back to square one. The family help is drying up so being late with payments seems to be a foregone conclusion. I will, of course, need to submit all of my paperwork to the Loss Mitigation Dept. once again, when the time comes. Uhhh...
I am not the type that normally asks or requires such assistance but we are desperate as we have a small child who needs a home and despite all of our efforts, we are still experiencing severe financial hardship. I do hope that you will be able to help, especially considering your beliefs, of which I share.
Regards,
Alan
LETTER TO HUFFINGTON POST Hello,
I am writing you to see if you would be interested in a follow-up story regarding certain comments made by JP Morgan Chase CEO, Jamie Dimon. In an interview with The Huffington Post's Marcus Baran in February 2009, Mr. Dimon said "I don't think just because someone's underwater they say I don't have to stay there. But they're supposed to pay the mortgage, and we should teach the American people, you're supposed to meet your obligations, not run from them. Because you have a mortgage doesn't mean you should run away as it goes down."
Well, it seems as if Mr. Dimon's bank does not follow such principles. Unfortunately, I am one of the many unemployed in this country, despite all efforts to find employment, yet have still managed to pay my bills on time, including my mortgage payments. Thank God for my family, who have helped us through these trying times. Despite family assistance, I am going further into debt as there simply is not enough money at the end of the month to support my family, but I deem this to be the lesser of two evils at this time as I wish to keep my good credit rating. So, that's my situation in a nutshell.
The issue I have with Mr. Dimon pertains to how his comments made to The Huffington Post conflict with the policies of Chase, my mortgage holder. I have been trying for almost seven months to get a simple forbearance from Chase only to be shuffled around from dept. to dept. always resulting in the same negative response. I have spent countless hours submitting and resubmitting documents that were already submitted. I have spent many hours on the phone with various members of Chase only to be continuously turned down for forbearance and remodifications, for various reasons. I have spent the past six weeks or so dealing with Jamie Dimon's assistants and the Executive Response Group only to receive the same response, "we cannot help you unless your situation changes". Ah, what needs to change you may be wondering. Well, Chases' Loss Mitigation Dept. will assist me if I do not pay my mortgage. That's right, Chase will help me providing that I refuse to pay my mortgage but as long as my mortgage remains current, there is nothing that Chase will do. Herein lies my issue and again, it's not that I can afford my mortgage it's just that I am going further into debt to pay it.
Mr. Dimon said "But they're supposed to pay the mortgage, and we should teach the American people, you're supposed to meet your obligations, not run from them." yet his bank is telling me that if I do not pay my mortgage I can get assistance. Now, I am not looking for something for nothing but only a forbearance, to be paid at a later date or loan remodification of some sort, as has been made available to many to help through these trying times. I have tried to get Mr. Dimon on the phone yet he will not take my call. I am told that he knows of my situation yet he will not explain the inconsistency between his statements and his banks' policies.
I want to know why I am being penalized for paying my mortgage on time when the CEO of the company says that "we should teach the American people, you're supposed to meet your obligations, not run from them", yet by meeting my obligations. I am being refused a forbearance. I would like to be able to pay my bills on time, as suggested by Mr. Dimon, so as to maintain my credit scores and still receive some basic assistance available from Chase. Or, I would like to see Mr. Dimon amend his statement to that which represents the policies of his bank. Something to the affect of "Although we should teach the American people, you're supposed to meet your obligations, not run from them, we at Chase will only help you if you do not meet your obligations and under no circumstance will we offer you any of our readily available assistance if you pay your bills to us on time."
This to me would be much more accurate. But that's just my humble opinion. So, to put it plainly, would you be interested in helping me by calling out Mr. Jamie Dimon?
Thank you and I look forward to your response.
Regards,
Alan
So, there you have it. I called Patty Baker again this afternoon to ask if Mr. Dimon had a response yet. She said that he did not so I told her I will call again on Monday. Below are the names & numbers of Chase personal with whom I have been working. Enjoy!
Patty Baker- Assistant to Jamie Dimon ?
Direct- 312 732 6116
Kathy Will- Assistant to Jamie Dimon
Switchboard- 212 270 6000
Nancy Falco- Assistant to Jamie Dimon
Switchboard- 212 270 6000
Melanie Welch- Member Executive Response Group
Direct- 866 605 9253 ext. 3716
Alan...(that's me 
|
Connect with Facebook
Linear Mode
