For My Family

[diana0806]

I Have Been Watching And Learning From This Website Since Nov. 07. We Purchased Our Home In Feb. 05 At A Fixed Rate. We Walked Into Our New Home With A Lot Of Credit Card Debt. My Wife Is Very Ill From A Muscle Disease And Fully Diabled .takes A Lot Of Meds. We Would Run Out Of Prescription Coverage Each Year And Have To Pay Out Of Pocket The Last Few Months Of Year. 20,000. We Would Have To Charge It. We Did This For 3 Years. 60,000 Before Buyung Home . Had Low Interest Cc . Had No Choice . We Were Not Elgible For Any Aid. Thank God Today They Have Affordable Meds.i Am Also Fully Disabled With Rods All Over My Body From Job Injury. 17 Surgeries. We Have 3 Young Children. In Nov. 05 We Wanted To Refi. To Get Rid Of All Cc Debt. My Broker(friend).ha Ha, Told Me We Only Can Get A 2 Year Adj. Rate Mortgage. But We Can Get You Into A Fixed In A Year. We Only Got Rid Of Half Of Credit Card Debt With Refi. We Would Slowly Pay Off Debt. My Son Was Born In Oct. 05 Very Sick. In Icu For 2weeks Clinging To Life. That Is Where I Was. Paid Cc A Couple Of Days Late And They Raised Them From 5% To 37 %. They Would Not Listen To Me. Tough Pay. I Was Never Late Before. Was Forced Into Bk 13 In Sept. 06. Asked New Mortgage Guy Should I Refi. Before Bk , He Said Wait Until Into Bk A Few Months. Even My Lawyer Said Wait A Few Months To Refi. Heee Lied. Just Waited His Money. You Cannot Refi. In Bk 13 Without Buyout(pay All Debt Off With 10% On Top) . Both Did Not Know What They Were Talking About. Chase Before Bk Put An Escrow On Me For Taxes And Escrow . Also Paid Back Taxes 7,000. For 06. In 07 I Was Paying My Mortgage The Last Day Of Month. Late All Time. Saw This Website And Called Chase In Nov. 07. They Lady In Lost Mig. Told Me No Court Approval Was Needed For Mod. In Chapter 13. She Called Me Back To Tell Me This. I Did Not Need It. New Program To Cut Red Tape. Faxed Her All Paperwork To Her And She Logged It In. She Told Me Not To Pay Mortgage During Mod. Process. You Will Need One-two Months Good Faith Payment When Approved. I Went And Paid All Bills I Neglected Over Past Year Due To Making Mortgage Payment. Called Each Week And Finally Got Denied In April 08. Chase Needs A Relief Of Stay. House Is Not Included In Bk 13. My Lawyer Got A Court Date Of April 21 08 But Chase Got It On April 14, 08. A Relief Of Stay Was Done. I Faxed All New Paperwork On April 17. Got Logged In Complete. On May 20 , I Called Rep. Paperwork Is Lost. Faxed 4 More Times. Finally 0n June 27 08, I Was Officially Logged In. Had To Go To Chase Branch 15 Miles From My House With 3 Children Ages 7,4,2 To Get This Logged In. I Am 10 Months Behind In Mortage And Taxes. I Call Each Week. Foreclosure On Hold Till Mod Is Complete. It Is In Texas Office. They Say It Will Probably Take 120 Plus Days .call Every Weds For Update. We Will Get This. I Will Fight For My Sick Wife And Kids. So If You Are Struggling, Do Not Give Up. Fight. One Question, Does Chase Roll The Interest From Back Payments Each Month Into The Loan Or The Principal And Interest? They Say The Back Taxes Can Be Paid Over A 36-48 Month Period. I Am Not A Very Good Writer But I Think I Got My Story Correct. We Were Originall Y Paying 2,500 And It Went Up Jan. 08 To 2988 A Month. With Taxes And Escrow. 4,000

[Frogs are lucky]

I wish you luck, stay strong, there are many supporters here at this forum.

[Dan Bailey]

Hang in there and don't lose hope! Theres great people here willing to help!

[diana0806]

Thank You For Support. I Will Never Lose Hope. I Have Been Misinformed By Chase From Beginning Besides Constantly Losing Paperwork After They Said They Had It. Several Times. We Are Far Behind Because Of Them. It Is A Rollercoster Ride. I Also Forgot To Mention I Have A Surplus Of 148.00. I Wrote This Whole Saga In My Hardship Letter So The Underwriter Will See What Has Gone On. I Am Not Angry. I Just Want My Modfication With Far Terms.

[Moe Bedard]

Hi diana0806,


Welcome to the forum and thank you for joining................

I see that you are on your way.............in answer to your question they put the total past due amount principle and interest if that is what the payment originally included, back into the principle balance of the loan.

Please keep us posted on your progress...........

[diana0806]

Thank You ***. I Will Keep You Updated On My Journey. I Called Today And It Is Still In Underwriting And Waiting For An Underwriter. The Woman From Lost Mit. Told Me They Are Up To April Right Now. I Do Not Even Call My Rep. Because Of All The Calls Since Nov.07 He Was The Only One Who Was Rude And Uncaring Each Time I Talk To Him. So I Just Call Texas And Talk To Anyone In Lost Mit. I Do Not Need His Rudeness. Otherwise Every Person I Talk To At Chase Has Been Great And I Thank God I Have Chase As My Lender Hearing All The Horror Stories From Other Banks. I Will Keep You Updated.

[RudyJay]

Stay with it.. we know how long Chase takes..good luck

[diana0806]

Update, Just Got Of Phone With Lost Mit. I Was Approved Yesterday At 7% For Life Of Loan. Not Real Happy With That. That Is All She See's Right Now. It Went To Managers Approval Yesterday.couple Of Questions- Can Mgt. Lower The Rate And Send It Back To Underwriter? I See People Who Got 2-4-6%. I Need Something Like That. If Not Changed, Can I Appeal To Them To Lower It. I Know It Is Puttung The Cart In Front Of The Horse. Anyone Know The Time Frame After Going To Mgt. Approval? I Really Am Relieved It Got Approved. I Will Keep You Updated On Mod. I Was Told To Call Each Week Now. I Will Call Twice A Week. Have A Great Day And Keep Up The Fight.

[RudyJay]

diana the terms of the mods are determine by whomever the investor is... I too have seen the 2-4-6%. My mod is not the 2-4-6% but it is a mod that I can afford right now.. I believe modifications can be considered yearly... I haven't really seen Chase negotiate on a mod once it is approved... But who knows.. BTW It is the investor that determines the terms...

[Zoey24]

Hi Diana0806,
I too have questions about the rate I contacted HopeNow and they want me to call back tomorrow when Chase is open so they we can be put on a three way call to make sure they have all the paperwork correct. It could't hurt to question the terms, I would think the going rate is about 6-7 percent which is pretty good considering what's happening with all these adjustables. Many have got the great rates that will help them stay in they're homes and like RudyJay says I think it's all based on the investor. I will wish the best for you and hope you have a great outcome.

[diana0806]

Hi Everyone, My Mod. Went For Mgt. Approval On Sept.2. As Of Today It Is Still There. Does Anyone Know The Time Table For This To Be Completed? Where Does It Go From There? I Get All Different Answers From Rep. Some Say Another Month . Some Say 2 Months. I Am In The Home Stretch. Been At This Since Nov. 07. I Know I Have No Control Of It Right Now, But This Is Emotionally, Physically, And Mentaly Draining. Any Answers Would Be Appreciated. I Am 11 Months Behind.

[Moe Bedard]

Well if it will make you feel a little better..............there were two Chase approvals this week from members that were also working on the modifications since Nov. and they are in the Success Section, so you should be getting your answer real soon too, one would think........

[Zoey24]

Hi Diana0806,

Once it went to Management approval it was less than two weeks before they approved and the loan documents were sent within 7 days of that. You might have the approval and loan docs by the end of this month. I will keep my fingers crossed for you, hope you get awesome terms!

[diana0806]

Thanks *** And Zoey For Feedback. I Will Keep My Fingers Crossed. I Will Keep You Updated When I Hear Something. Have A Great Day!!!!!!

[diana0806]

Hi Everyone, I Called Chase Yesterday, Paperwork On Way. Not What I Need. 7.5 For Life Of Loan. All Past Put Into Loan. Loan Went From 299,000 To 338,000. They Want 9703.00 Up Front By Oct.17. Then Start New Payments On Nov. 1. After 11 Months Saved 200.00 A Month. 2350.00 A Month Without Escrow And Taxes. Will Be Over 3,000.00. Will Not Accept. Will Re-apply. I Need A Lower Rate Like 3-4% For 5 Years Like Others. They Lost My Paperwork 8 Times . Gave Mis-information. Told Not To Make Payments During Process. I Have 2 Months Good Faith. Also Have A Month In Suspense Account. Investor Will Have To Change Terms Or I Will Have To Try New Hud Program On Oct. 1. I Am Elgible. If All Fails I Will Send Them The Keys And Alarm Code. I Truly Believe This Will All Work Out. I Will Fight Till End.

[Zoey24]

Diana0806,
I hear you on that, I was sent my paperwork with 8.45% rate so nothing changed we owe $335,000 and that put our payment at $2800.00 with impound.. I finally reached someone in underwriting yesterday and was told she would discuss with underwriter that approved mod. I explained this is not something that we can afford it's not even a modification. Our sale date is set in October I will fight until the end, but I won't agree to those terms. I hope you have better luck. Please keep me posted do you have the criteria for the Oct 1st loan you're talking about maybe we would qualify for something like that. I am truly sorry to hear that news I thought it would have been good like other I've seen. Take care, Zoey

[diana0806]

Hey Zoey, Thanks For Your Support. We Will Win. Do You Have The Number To Underwriting , So If I Need It I Can Get A Hold Of Them. I Do Not Need Get Passed From Dept. To Dept. Thanks, Have A Great Day!!!!!!!!

[Frogs are lucky]

Good lucky to you, I hope Chase will change their minds and help you out a bit more...hang in there! As far as a direct number to underwriting, I'm not sure they really give that out. I was able to talk to my closing agent, but not underwriter. If I were you I would ask to speak with someone regarding the terms of your modification. Hopefully they'll get you to someone who can help. Good luck!!

[diana0806]

Oh Zoey I Am Sorry. It Is President Bush Plan. I Think *** Had Put Everything About It On This Site. Good Luck!!!!!!!

[RudyJay]

One of the things that is hard to accept is that the terms are per investors on the mortgages... good luck to you both

[RudyJay]

Diana... it may be prudent to look into the Oct. 1st FHA... I read the terms are 6 % (?) if you qualify go for it...

[Zoey24]

Diana,
They won't give you the number for the underwriters, it just so happened that she contact me and when I called today to speak with her again they wouldn't even transfer me. I was told to re apply which would take too much time and I explained to them I was told it was being reviewed by underwriting because of my phone call. The girl then said to call back in two weeks to check update because the system is showing it's been escalated to underwriting. I will call them next week faithfully and keep you posted on the outcome.

[diana0806]

Hey Everybody, My Loan Was Bnc Originally. It Is Now With Chase. I Know Bnc Was A Sub. Of Lehman Brothers , Who Are In Chapter 11. If The Govt. Buys These Bad Loans Will It Be Easier To Get A Lower Rate That I Was Offered. 7% Life Of Loan. I Have Not Recieved Paperwork Yet, But I Am Not Accepting It Because Payment Went Down 160.00 A Month . My Principle Went Up 40,000 Because Of Waiting 11 Months And Them Losing Paperwork And Me Sending It 8 Different Times. Telling Me 1-2 Months Good Faith Is Good. Telling Me No Payment Necessary. I Hope The Govt. Takes Mine And Gives Me A Good Deal. I Was Just Wondering What Anyone Thought. Bottom Line Will It Be Easier To Get A Great Rate If Govt. Took Over My Loan? Have A Great Day!!!!!!!!

[metfan08]

Originally Posted by diana0806

Hey Everybody, My Loan Was Bnc Originally. It Is Now With Chase. I Know Bnc Was A Sub. Of Lehman Brothers , Who Are In Chapter 11. If The Govt. Buys These Bad Loans Will It Be Easier To Get A Lower Rate That I Was Offered. 7% Life Of Loan. I Have Not Recieved Paperwork Yet, But I Am Not Accepting It Because Payment Went Down 160.00 A Month . My Principle Went Up 40,000 Because Of Waiting 11 Months And Them Losing Paperwork And Me Sending It 8 Different Times. Telling Me 1-2 Months Good Faith Is Good. Telling Me No Payment Necessary. I Hope The Govt. Takes Mine And Gives Me A Good Deal. I Was Just Wondering What Anyone Thought. Bottom Line Will It Be Easier To Get A Great Rate If Govt. Took Over My Loan? Have A Great Day!!!!!!!!

I have no definite knowledge on this, other than I remember hearing analysts on CNBC this past week say that Chase would not be participating in the govt bailout program in the near future.

[The Professor]

Diana0806:

First of all, I'm sorry to hear about the challenges life has provided. You stated in your initial posting, "My Wife Is Very Ill From A Muscle Disease And Fully Diabled .takes A Lot Of Meds." I personally know of this challenge as my wife was diagnosed in June of 2005 with primary progressive multiple sclerosis and we are facing similar issues.

In one of your recent postings, you said, "If All Fails I Will Send Them The Keys And Alarm Code." I think it important, even as you fight to keep your home, that you investigate the alternative of "walking," and spend some time reviewing the postings in the Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? - Home Loan Forum - Loan Safe forum to learn what your rights are. The rationale for doing so is it will provide you with the most beneficial exit strategy you can have it that becomes necessary.

Take care and know that the concerns you hear here on the forums about your welfare are earnest.

Daniel