From May 2009 through May 2010, I was on this board, a lot, trying to keep myself "educated" about loan modifications. I worked hard at trying to get approved for a loan mod during that time, but in the end was denied. A month or so after I was officially denied (it took a year) , I received a call from Chase that I was in a group of people that could refinance their variable rate loan with them for basically nothing.
Our loan was a Freddie Mac Loan .. originally through WAMU (we received in 2005). Chase took over all WAMU loans in early 2009. We refinanced with CHASE last spring (2010) at a 30 year fixed rate of 5.25%. We were happy at the time to get out of the variable rate, although .. it did not do much for us in regards to making those monthly payments more manageable.
I recently talked to the local gal that helped us with the last spring refinancing about my current situation and she suggested that we try for a loan modification again. The problem .. when I went to the CHASE sight, and went through the self-eligibility area of their "Help For Homeowners" area, it asked me if we received our loan with Chase before or after 2009? (Well, the previous loan was already with Chase .. ?) Anyway, if I answer that it was before, the automated response says I might qualify for a loan modification. If I say it was after 2009, it says that I do not qualify.
Anyone else here have any experience with this and know if I should even start this process going (once again)/ Do you know if Chase is pretty stringent with that requirement .. or do you think they will take into account our whole picture?
Thanks for any feedback you may have.