Difference between Notice of Collection Activity and notice of default?

[caldwellb02]

I just got a "notice of collection activity." I'm Currently on hold with Chase (unusual I know), so I thought I would pose a question here.

It says in the body of the letter that I have not made a payment since 9/1, and that I may "cure this default thirty days from the date of the letter." The letter is dated 10/30. Just got it today.

Is this the notice of default? I'm confused.

[caldwellb02]

Okay so I called the number. It was loss mitigation. Tell me what you guys think of this:

She said that the letter was just a procedural letter re: the changeover from Wamu to Chase and that it wasn't an NOD.

She said if I don't pay a payment by 11/1, that is when they start foreclosure. (that would be four payments)

So give me some feedback - what part or parts of this do you think were real, what not?

[wonderland]

We got one of these too and weren't sure what to make of it as we are 5 trial payments in. We called yesterday and there is no news. I hope it isn't a letter they send out before a NOD. I feel like whenever I call Chase the story is never the same and I don't know if they tell the truth!

[Marie T]

caldwell...I think I got one of those when I was just two months late..it said they would put the late payments on the back of the loan if I would just resume making my regular payments. I could not do it since I had to pay out a huge chunk of money to the IRS at that time but even so would not have made sense. I have an interest-only loan so in essense I am paying this huge payment every month and just treading water. My loan is also going to adjust ...can go up to 10.5% so I need to just get this taken care of now permanently or let them have the house!!

The Debt Validation Notice we all received today freaked me out but I sent a copy to my attorney so hopefully she can let me know what it means...the part where it says they can repossess the property has me totaly freaked out but then I'm sure that is what they want. Probably sent by their collections department and since I have been in that fake three month trial payment plan (the one I could not accept since it was $700 more than my original payment) I have not had any collection calls since their computer showed me on the trial plan.

What does "being on hold with Chase" mean?...just curious.

[caldwellb02]

Oh Marie I was just trying to call Chase at the time and was on hold. Sorry for the confusion.

I just have never gotten a trial and am feeling a bit alone out here....

[Lainy09]

Hi Caldwell, I agree that the letter you received is not a NOD. We had received one of those wayyyy back in the process (but we had a Ch7 so it affected our timeline, we are also in CA.) I can tell you if/when you receive a NOD, it will be very, very clear--it will absolutely say NOTICE OF DEFAULT at the top, you will likely receive several copies, both thru regular mail and certified mail, and the date on it for future action (notice of trustee sale) will be 90 days. I haven't received an actual "trial" either, just a repayment plan that runs out this month (it was technically 1 down payment and 2 monthly payments). I also feel alone, and never even get ANYTHING from Fed Ex, the only way they would communicate w/us was thru fax..guess they wanted to save the Fed Ex fees! Good luck to you, this is all so difficult.

[caldwellb02]

Lainy - thanks. I do have some certified mail waiting for me that I can't get till tuesday. So I just have to keep thinking 90 days 90 days. Christmas. then move.

[Mountain life]

Caldwell:
I got the same notice(Notice of Collection Activity) that you did from CHASE since I have not made a mortgage payment since September 2009. I also picked up the certified mail from CHASE which was the Debt Validation Notice) (not a NOD....thank goodness) which identifies Deutsche Bank as the "creditor" and advises me that I have thirty days to notify CHASE if I dispute any part of the debt owed. I do plan to send a written notice disputing the debt because I did submit my November 2009 payment, so their calculations are not correct.
You stated that you will be four months behind on your payments on 11/1/09....wouldn't it be 12/1/09 instead? (from September to December?) Also have you tried re-submitting your modification application via the CHASE Homeownership Centers? They were created in specific areas of the state (they are identified on the CHASE site) to process modifications for homeowners that are late on their payments. ( I found the representative extrememly helpful and she was able to provide me valuable information on how much time we had in California prior to any foreclosure procedure being commenced.) Possibly if you apply there you can delay the foreclosure process while you are able to fight for a modification or negotiate some type of payment plan with CHASE. You have a great case.....don't give up !
Best wishes to you.

[caldwellb02]

MOuntain. I've been confuuuused about how late I was for awhile, but as of 11/1 I am three months late. So you are right - it won't be till 12/1 that I am four months late.

I gotta tell you guys - I got so many papers yesterday from Chase (along with the notice of certified mail which I can't get till Tuesday). I could have sworn I got the Debt Validation notice that said Deutsche was the investor on both loans but for the life of me I cannot find those papers. And they just came yesterday. Now I don't know if i dreamed that or what. This whole thing is making me NUTS!

I did try to get ahold of a homeownershp center by phone a couple of days ago, had to leave a message. They are in Oakland and that's a drive. But thank you. I will keep pursuing.

[MZWITHHOPE]

Caldwellb02:Now that you are 3 months behind I can bet money they will give you the trial payments which will stop any proceedings. If not, you really have another 3 months before they send you the sale date, which can also be stopped by them if anything else comes up, that sale date will be about two months in the future. You really have about 9 months all together. I do have to say I look up to you so be strong for all of us.....

[wonderland]

Yes in CA you have at least 3 months until foreclosure once you recieve a Notice of Default.

Caldwell: are you responding to the Debt Validation Notice? I just wondered if you do or don't that you can't do the whole "Produce the Note" thing later to further stall foreclosure to give yourself time to work out a Mod or just to give yourself more time to make other arrangments.

[caldwellb02]

I hadn't intended to respond. There is really nothing to say. I do owe that as it stands now. I'll reread the letter.

I already sent in a QWR, which they acknowledged they received and have 60 days to clear up

MZ - awww thanks. but sometimes I'm a little girl wanting a guy on a white horse to come save me.

[wonderland]

We aren't responding either. We just call every week to ask about our account and if we are getting closer to the permanent mod.

[Mountain life]

Caldwell: You do not hve to go into the Home Ownership Centers to reapply for a modification. Just fill out (again!) the CHASE loan modification forms with the documents requested attached and send it to the Chase Center after you make telephone contact with the representative who will be submitting your file. I sent my file certified mail and got the confirmation receipt a couple of days later. It seems that this application process is easier than the crazy and tedious process we all originally had to go through.

[caldwellb02]

Mountain - what a concept. I may do that. So I would have a brand new application. Wonder how that would play out. So you just sent it to the Homeownershp center? Wild idea.

[Mountain life]

Caldwell: Right, I mailed my new application to the CHASE homeowner's center after I discussed at length with the Chase representative telephonically (at my local center) the fact that I was denied my HAMP loan modification and the specifics of my hardship. CHASE created these "centers" to assist homeowner's who are late with their mortgage payments and are trying to keep their houses by qualifying for a CHASE modification. She gave me some encouragement to apply, and commented that she could not understand why I did not qualify for the HAMP modification but she quickly stated that she does not make the final determination. So, I encourage you and anyone else in our situtaion to re-apply......we certainly know how to fill out the application!

[caldwellb02]

Mountain - You are so right. Just transferring the info I already have. Just downloaded the form and will call the center on monday. thanks for the idea.

[MyHAMP]

Originally Posted by Mountain life

So, I encourage you and anyone else in our situtaion to re-apply......we certainly know how to fill out the application!

That's truely a good advice.

Especially in the early days of HAMPso many applications were denied simply based on wrong info, data input errors, lack of knowledge of the servicers about the guidelines etc. This list goes on and on.

They finally seem to "get it"...

[Lainy09]

Hi Caldwell...I just double-checked a few of my 50-million notices from Chase and while the front page does say Debt Validation, there is definitely a separate page in each one that says: Notice of Default and Election to Sell Under Deed of Trust. I should also point out that these come directly from Chase's attorneys, and soon after we received the first NOD, we were notified of the substitution of Trustee with again, Chase's attys being named. I can also verify all this crap on my county recorder's website, which I do almost daily! (sad, isn't it?) I have been able to find stuff out faster by checking that site than when I've received the stuff in the mail. My whole point--do I have one? is that hopefully if you don't have a page in there that says the above, you are not in the NOD stage yet.

[caldwellb02]

Lainy - sorry to hear that they hid that on the second page. I don't know what state you are in - how much time do you have?

[Lainy09]

No worries, really...I knew it was coming unfortunately The nice touch was they filed it on the EXACT date we enacted the repayment plan/forebearance agreement and made the down payment. We are in CA, and our 90 days is up Nov. 19th. I honestly have no idea what will happen next, as I can't get much of a straight answer from them. I will be checking the county site every day after the 19th to see if they've filed the Notice of Trustee Sale. That will be when I truly freak out if it happens. The timing of that would put it right around Christmas. How ironic..when I just saw this mssg from you I was looking at pics from 2 yrs ago when I had one of the happiest Christmas holidays ever, and it was here. Last year was spent in a rental, and this year I was REALLY looking forward to a mod and celebrating in my home again. Only time will tell I guess.

[c150000]

i got a acceleration notice/ intent to foreclose notice today myself {if you have not seen my post}
iam fannie mae and iam in the hamp trial mod program 3 months
included in the letter it says you need to cxall there are mod programs for you ect ect.........i did not think they could send these out while on trail program
says you have 32 days to bring your loan current ect ect
i called they said oh thats because the computer is showing you 4 months late
but your only 3 1/2 months late realy 2 1/2 because nobember is not over
dont worry your ok ya right can someone explaine?

[caldwellb02]

Lainy - without going into detail I just got caught up on your story and i HATE that you went through what you went through. GD them. I am so sorry. You may not get your mod but maybe you can work on postponing to get through Christmas. I will be hoping all the best for you.

[davephx]

Notice of default not same as foreclosure notice which they are not "suppose" to send while on trials.

[c150000]

daveph
i was told today that my loan WILL go into forclosure status with NO sale date
i called loss mit and thats what she told me,
i thought they could not do that while on the hamp trial?
she said your 4 months behind,
but as of right now iam not 4 months behind.. my notice of acceleration
says 3 months and i made a payment on the 1st of nov letter was sent before that date so with out november{ cause its not over and not included in my notice
iam realy 2 1/2 months behind
how can she say its in foreclosure already with no sale date?

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