Finished My Chase (MHA)HAMP Trial on 03/01. Permanent Docs at my door steps today WOW!

**jets2010** · 12-01-2011, 08:34 AM

Ok,so I initially submitted my paperwork on or around August to Chase for a loan modification via MHA program. It took awhile before anyone touched my file, but once I called constantly for a status update I was assigned a Customer Assistant Specialist(RM).

From August, up until two weeks ago my file did no go thru much of what I've been reading like lost or unreceived documents or faxes.

Well let me bring you all up to date, they offered me the following Trial Modification payments:

1st payment due 01/01/2012 $1,045.00
2nd payment due 02/01/2012 $1,045.00
3rd payment due 03/01/2012 $1,045.00

* does anyone know if this payment includes the escrow amount? If so I am OK with it.

The only issue is not sure if this is the best offer they can provide as my original house payment is roughly $1,400.00 *(escrow included) The payment difference is around $360.00. Is this good or bad?

**Cat Damiano** · 12-01-2011, 08:38 AM

Hi jets2010,

If this is a HAMP modification trial plan, it isn't about if the offer is the best you can get. Under a HAMP modification, everyones payments are figured using a waterfall step to get the payment to within 31 percent of your verified gross income that was submitted as a part of the package, this payment amount would include principal, interest, taxes, insurance, and HOA fees if applicable.

Are you saying that the payment is not within 31 percent of the gross income that was verified through the process?

Step 1: Capitalization

In the first step, the servicer capitalizes accrued interest, out-of-pocket escrow advances to third parties, and any required escrow advances that will be paid to third parties by the servicer during the TPP.

Step 2: Interest Rate Reduction

In the second step, the servicer reduces the starting interest rate in increments of 0.125 percent to get as close as possible to the target monthly mortgage payment ratio. The interest rate floor is 2.0 percent. The initial interest rate would be fixed for the first five years then increase by 1 percent in year 6 and another 1 percent in year 7. For the remainder of the term the rate will be fixed at the prime market rate at the inception of the permanent loan modification.

Step 3: Term Extension

If necessary, in the third step the servicer extends the term and re-amortizes the mortgage loan by up to 480 months from the Modification Effective Date to achieve the target monthly mortgage payment ratio.

Step 4: Principal Forbearance

If necessary, the servicer will provide for principal forbearance to achieve the target monthly mortgage payment ratio. The principal forbearance amount is non-interest bearing and non-amortizing.

The amount of principal forbearance will result in a balloon payment fully due and payable upon the earliest of the borrower’s transfer of the property, payoff of the interest bearing UPB, or at maturity of the mortgage loan.

There is no requirement to forgive principal under HAMP.

**jets2010** · 12-01-2011, 10:20 AM

It is in fact a HAMP modification trial plan and after crunching the numbers looks to be about right in point with the 31% ratio given the fact they include the new payment along with the PMI. <- Correct me if I'm wrong

As always thanks for the great deal of information you always provide to us here on this forum...kudos and a job well done!

**Cat Damiano** · 12-01-2011, 10:27 AM

Thank you for gracious remark, I am happy to help.

In answer to the question, PMI does not get included in the payment calculation of 31 percent as well as any escrow shortages. The 31 percent includes Principal, Interest, Taxes, Insurance (Hazard/Homeowners) and HOA fees if applicable, not MI (Mortgage Insurance) or PMI (Private Mortgage Insurance), that would be added back in once the modification is made permanent and would drop off when the property reaches the proper LTV necessary.

**jets2010** · 03-09-2012, 12:10 PM

Good Afternoon fellow loansafe members, I would like to post the following in regards to my situation.

I was offered a Chase HAMP Trial PP at the end of November,2011 I submitted all 3 trial payments to Chase ontime and the last one was on 03/01/2012.

I checked my online profile and the second Tab (Trial )was green and checked off and it listed a FedEx tracking number on the last tab (Final Modification)

Lord and behold I tracked it and it was delivered to my doorsteps today, now that was fast.

I will get these docs signed, notarized and overnighted ASAP.

Ok, to the terms we get:

This is a MHA (HAMP) Loan Mod not in-house,

Years 1-5 Interest Rate: 2%
Year 6 Interest Rate: 3%
Years 7-32 Interest Rate: 3.875

Not bad at all considering the original rate was for 7% for 30 yrs.

They extended the Mortgage another 7 years and does not include a balloon payment at the end of the term.

The only thing I noticed is that the Escrow account had a shortage of around $1,150.00. I have the option of paying this off as a lump sum or to have it spread out over 60 payments which has been factored in the new payment of $1,045.00

My original payment was $1,427.00 so I would get a big relief once this goes permanent and back on the positive with my mortgage.

One requirement that it states however, and it may be on a case by case basis but I am required to continue making the Trial Payments until the loan effective date of April 01,2012. In my case the Trial Payment for March was already paid so I would roll over to the permanent payment once they sign the docs and provide me with a copy of their signature as well as mine.

Good Luck to everyone looking to have the same outcome, and always remember be persistent with them and they with your RM (CAS).

If you are at the beginning stages I would suggest you to go out an buy what is called a classification folder that has 3 dividers.
Here you can store all documents you send to Chase in the course of and getting a Loan Mod. I can attest your file will be huge so this will keep things organized and neat.

If you need suggestions or advice, I am not a guru like Cat and the others on this forum but I will be available to help.. just ask.

**Cat Damiano** · 03-09-2012, 12:15 PM

Congratulations jets! That is an awesome modification!

**Evan Bedard** · 03-09-2012, 12:39 PM

Congrats that is an excellent modification you achieved! Thanks for sharing tips and offering advice to help others here pursuing a loan mod:-)

**jets2010** · 03-10-2012, 10:29 AM

Cat, one follow up question in regards to my Final Mod documents... I see were they included an ACH form for automatic payments I'm assuming this is optional.

I pay all bills via my Banks online bill pay so I have no use for this ACH form. Do you recall if this was included in your final loan docs?

**Scarlett** · 03-11-2012, 04:21 PM

Jets2010-Wow, that's great, good for you! Chase has said that they haven't received anything from me since May! Soooo frustrating and going to send another package 1st of April( I received denial in 2/11). Now they are not asking for bank statements for Chase anymore, has everyone found this to be true or do they end up asking anyway. We are self-employed. When I called to ask they said no need and even a hardship letter isn't needed, but would help. Any thoughts on that?

**Evan Bedard** · 03-13-2012, 12:50 PM

Originally Posted by Scarlett

Jets2010-Wow, that's great, good for you! Chase has said that they haven't received anything from me since May! Soooo frustrating and going to send another package 1st of April( I received denial in 2/11). Now they are not asking for bank statements for Chase anymore, has everyone found this to be true or do they end up asking anyway. We are self-employed. When I called to ask they said no need and even a hardship letter isn't needed, but would help. Any thoughts on that?

Hardship letters are always needed when applying for a loan modification, but if you have already sent one in previously they may just use that one.. Also they are going to need updated bank statements on a regular basis until the process is complete, so make sure you have them in a safe place so you can send them in when requested..

**jets2010** · 03-13-2012, 01:43 PM

Make sure you send the RMA package and all corresponding completed documents overnight Go to the following URL to see the Making Home Affordable RMA application: https://www.chase.com/ccpmweb/chf/do...Chase_Fill.pdf

And then locate your local FedExKinko's , they have an account with Chase which will overnight the package to the for processing. Once this is done keep a copy of the airbill (tracking number) for your records and as proof of receipt/ delivery by Chase.

Make copies of everything you send over to Chase and keep all letters you receive via US Mail in the same file.

You must make sure to include everything as indicated on the RMA application, which include:
Two Pay Stubs (W2) wage earner or if self employed you will need to provide a Profit & Loss Statement
IRS Form 4560T-EZ
If less than two payments behind, you need to send the last mortgage statement
Dodd-Frank Certification
Bank Statements
And any additional documents pertaining to your case. It must be understood that you must also include a short letter explaining your actual hardship. Must be a valid hardship and you can search this forum for templates on hardship letters.

**Scarlett** · 03-13-2012, 02:03 PM

Thank You both for replying...
Yes since we are self-employed I've done a P&L. I'm just surprised that since the last time I applied, both the Bank and Charlie are saying I don't need Bank statements. I even called the bank back to ask again. Chase has said no Bank statements and no hardship letter. Although the rep said the hardship letter would help. I find this hard to believe; because how else will they verify my income? That's why I was asking to see if anyone else had applied recently.
Jets2010 were you current? And kinko's will send it for free? Thanks

**jets2010** · 03-13-2012, 02:17 PM

I was not current, was actually 60 days past due.. and yes FedEx Kinkos has a working relationship with Chase to ship the RMA packet for free of charge to the customer.
You do not need to be backed up in payments, however from past reviews throughout this and other forums I tend to believe that the banks loss mitigation dept is willing to work more aggressively on past due mortgages given the fact that you meet the criteria on your end as well as in their end (NPV, BPO's and other factors used to determine what will work)

The hardship letter will state your current situation and will outline what you are hoping to accomplish in receiving a modification. If you are in contact with Charlie I would suggest you have him get the 3 way call placed with Chase Loss Mitigation dept and go from there.

I did the modification on my own, and if you read the suggestions I made on a post above, I'm confident you can accomplish the same...Good Luck

**Evan Bedard** · 03-13-2012, 06:42 PM

Excellent advice Jets2010! Thanks so much for reaching out to help others going the process, we always appreciate members sharing the knowledge they have gained with their own experiences:-)

**Misopal** · 03-16-2012, 12:41 PM

Originally Posted by jets2010

The only thing I noticed is that the Escrow account had a shortage of around $1,150.00. I have the option of paying this off as a lump sum or to have it spread out over 60 payments which has been factored in the new payment of $1,045.00

Your mod is about identical to mine, including no baloon. And I have an escrow shortage. My rep advised me NOT to pay the escrow shortage as a lump sum payment - at least for right now. As you said, it's currently factored into your payment. Until your mod docs have been countersigned by Chase, keep making only the $1045 pmt. Later on after you're locked in and stable (say 6 months out), paying the balance of the escrow shortage will lower your monthly payment. If you do it now before the docs are countersigned, that $1045 will not include the escrow shortage factor. Disclaimer: I'm recalling this from memory, but 'm very sure that I understood correctly. Check with your RM to be sure.

**jets2010** · 03-18-2012, 08:55 PM

Thanks for the heads up, you were correct regarding the Escrow Shortage.

**ableamb** · 04-03-2012, 02:16 PM

Cat or anyone,

just recieved a final mod after 26 months. Its hamp. but,,,,using the waterfall are they required to extend the terms up to 40 years prior to a forbearance amount?

Mine appears to have a forbearance although amount not disclosed, because of a balloon disclosure. The loan matures at the original date 19.5 years from now.

thanks for any thoughts.

**Cat Damiano** · 04-04-2012, 09:45 AM

HI ableamb,

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

The problem is that some investors will not allow the loan to be extended to the 40 year term so what they do instead to get to the 31 percent is to amortize the payments over the 40 years but the loan itself would still be due at the end of the original term creating the balloon payment. This is what happened to me with Chase and I am ok with it as the balloon payment will not be interest bearing or have any payments due until 25 years from now in my case.

Here is an example;

this is a part of the unpaid principal that you owe.

Here is an example:

You currently owe $300,000 in unpaid principal total along with all past due interest capitalized.
In order to get you to an affordable payment, because they just are not able to do it on the $300,000 amount, the servicer has to split off $100,000 of that $300,000, and puts it as a non interest bearing, non amortizing balloon payment.

Then the remaining $200,000 is amortized at the interest rate given over the terms given to arrive at the payment you will be making.

So that $100,000 is still there, you just wouldn't be making the payments on it, however, if you sell, transfer, or refinance the property, it will of course be due as it is a part of the original unpaid principal balance that you still owe even without a mod. What you need to understand is that the lender isn't forgiving that amount, they are forbearing it. And it was necessary under your circumstances to do this in order to get the payment to an affordable level at the 31 percent of the gross income.

**ableamb** · 04-04-2012, 11:46 AM

Thanks cat,

so can i pay an extra 300 per month (for example) and pay that down by maturity. Or is it a hard 100k that just has to settle at the end.

**Cat Damiano** · 04-04-2012, 11:54 AM

You would have to see what the final documents state as far as the balloon goes, because any additional principal you pay initially may go to the current unpaid principal balance and not the balloon.

**donnac** · 04-04-2012, 04:42 PM

Once everything went to the underwriter how long before you got an answer?? Thanks

**Griffy** · 05-22-2012, 01:15 PM

Originally Posted by Scarlett

Jets2010-Wow, that's great, good for you! Chase has said that they haven't received anything from me since May! Soooo frustrating and going to send another package 1st of April( I received denial in 2/11). Now they are not asking for bank statements for Chase anymore, has everyone found this to be true or do they end up asking anyway. We are self-employed. When I called to ask they said no need and even a hardship letter isn't needed, but would help. Any thoughts on that?

Scarlett, I'm in a similar situation: self-employed and my file is with the Chase underwriter. Did Chase ever end up asking for your bank statements? Thx

**mimiy** · 05-23-2012, 03:49 AM

Hi Jets,

Hoping you can tell me where you "logged in to your profile." I also applied for a Chase Mod in November and just finished the last of my 3 Trial Mod payments on 5/01. I'm getting concerned because it is now 5/23 and still no permanent docs. My Chase rep was calling around 2X a week (last call 5/09) to keep me updated on the progress on the docs. Each call included the same news that my file was still in preparation or in line to be prepared (the permanent docs). If there is a website you know of where i can log in and check the status, I'd be grateful to know the web address as my Chase Rep never told me about this.

I was told that once i made the three trial payments that the permanent mod was granted automatically per HAMP requirements but I'm getting a bit nervous now that I'm 3 weeks out from my final trial Mod payment. My hubbie wonders if the big losses that Chase suffered this month may somehow have impacted their progress on the approved files or if they are looking for a way to pull the plug. BofA did this to us on our 2nd. We were pre-approved and well into the process for a BofA internal Mod but at the last minute, they sold our file so we've had to start all over with new servicer.

Anything you or anyone can tell me about what's going on with chase mods, if the timing we're experience in getting our permanent docs sounds right and that web site address if you have it -- would be deeply appreciated!

And CONGRATULATIONS!!

Mimi

**Cat Damiano** · 05-23-2012, 07:35 AM

Hi Mimi,

In order to view the modification process online, you would just need to go to www.chase.com, log in, and scroll to the bottom of your account information. There should be a box that says "Loan Modification Center" on the left. You would have to have already been able to view your account online to view this information.

**Griffy** · 05-23-2012, 10:17 AM

Hey Mimi,

I feel for you in this waiting game. My Chase loan mod is with the underwriter ... my rep says things look good and has only had basic questions from the underwriter.

My question for you Mimi is: Did you ever have to turn in bank statements??? My rep says he doesn't need them for me personally or my biz. Is this the reverse of robo-signing, I humorously ask, where they are now just approving anyone with clean paperwork?

Next question: Did they ask for any other paperwork from you once you started the 3 month trial?

Thanks heaps and good luck!

Originally Posted by mimiy

Hi Jets,

Hoping you can tell me where you "logged in to your profile." I also applied for a Chase Mod in November and just finished the last of my 3 Trial Mod payments on 5/01. I'm getting concerned because it is now 5/23 and still no permanent docs. My Chase rep was calling around 2X a week (last call 5/09) to keep me updated on the progress on the docs. Each call included the same news that my file was still in preparation or in line to be prepared (the permanent docs). If there is a website you know of where i can log in and check the status, I'd be grateful to know the web address as my Chase Rep never told me about this.

I was told that once i made the three trial payments that the permanent mod was granted automatically per HAMP requirements but I'm getting a bit nervous now that I'm 3 weeks out from my final trial Mod payment. My hubbie wonders if the big losses that Chase suffered this month may somehow have impacted their progress on the approved files or if they are looking for a way to pull the plug. BofA did this to us on our 2nd. We were pre-approved and well into the process for a BofA internal Mod but at the last minute, they sold our file so we've had to start all over with new servicer.

Anything you or anyone can tell me about what's going on with chase mods, if the timing we're experience in getting our permanent docs sounds right and that web site address if you have it -- would be deeply appreciated!

And CONGRATULATIONS!!

Mimi

**mimiy** · 05-23-2012, 10:35 AM

Hi Cat,

I am logged in to my account on chase but I swear my page must look different as i find nothing at all on lower left and no reference to
Loan Modification Center. When I log in, the page I land on has my name on top then LAST PAYMENT DATE, PRINCIPAL BALANCE, AMOUNT OF LAST PAYMENT, NEXT PAYMENT DUE and NEXT PAYMENT DUE AMOUNT. There is nothing but blank white space below left.

Directly below there is just a set of links: SECURITY, TERMS OF USE, LEGAL AGREEMENTS & DISCLOSURES. To the left of this is just the name of the bank. There is nothing below this on the page except a disclaimer. When I jump to the ACCOUNT DETAILS page it is pretty much the same thing. This is on Chase.com.

Could it be that they only show the tabs Jet discussed once they made the determination to make your Mod permanent? I'm getting nervous because Jet said she got her permanent docs 9 days after her final trial payment. I am on Day 23 since my final trial payment. I just want to be certain that they are not drawing this out to get several more payments out of me before cutting the cord. (I made all 3 trial payments on time). Or than the person reviewing my file now isn't calculating things to my detriment as compared with the calculations made by the person who approved me for the trial.

Thanks for your insights, Cat!!

**Cat Damiano** · 05-23-2012, 10:47 AM

They may have stopped doing it then, I have had my permanent modification for nearly a year so it is no longer available on my account.

You can also try contacting the executive team to see what the delay may be here;

Chase Executive Team
Jamie Dimon CeoPhone: 212-270-1111
Fax : 212-270-1121
E-Mail Address: jamie.dimon@jpmchase.com

**mimiy** · 05-23-2012, 11:21 AM

Hi Griffy,

Wow, that's too weird! They requested volumes of paperwork from me: hardship letter, 12 month personal, joint & business bank statements, latest tax return, a written explanation for all deposits on the bank statements over $50, a P&L for my business and copies of several months of my monthly bills-- and I can't remember what else. Now all of this was to get approved for my 3 month trial under HAMP for my first mortgage.

I applied in December and was approved for the trial in February, so it only took around 6 weeks. My assigned Chase Rep was in constant touch with me throughout. My last trial payment was 5/01.

If you are self-employed, I cannot imagine not wanting your bank statements at least. Very, very weird.

No paperwork required during 3 month trial. At completion, you are supposed to get permanent loan docs to sign. It is my understanding that you do not have to submit any new documentation to be eligible for the permanent Mod, but that it is suppoed to happen automatically if you make all your trial payments on time. I was told that at this stage, they just review all the calculations used by the Underwriter to deem you eligible for the trial and, so long as the new reviewer comes up with the same calculations, then your permanent Mod is approved.

Good luck! I will post here once I know anything else too.

**mimiy** · 05-23-2012, 11:34 AM

Thanks Cat! (But what throws me is that Jet who posted just a few weeks ago when she got her permanent Mod, is the one who mentioned those tabs on the site and said she tracked the Fed Exp with her permanent Mod docs there and she posted that the tab had turned green). So it's weird that the site looks so different for me since our third trial payments are just a few weeks apart from one another's. I suppose they could have changed the site in that time but of course it worries me some. My imagination is saying: "Gee, they only launch that page for the people they KNOW they are going to give the permanent mod to".

I probably watch to much T.V. about conspiracy theories. :-)

**Cat Damiano** · 05-23-2012, 11:46 AM

Actually it was almost three months ago that it was posted so they could have gone through a recent change. You may want to contact the executive team to see what is up. While in my case the very last attempt of 6 ended in the proper timeframe according to HAMP, the initial process with Chase took me over two years. Also on the last attempt, I went into a Chase Homeownership Center and worked with a rep in person which definitely helped.

Here is a little tidbit for you, Chase tracks packages with FedEx also using your loan number, so you can try putting your loan number into the tracking box and see if anything is being sent that way as well.

**Griffy** · 05-23-2012, 11:47 AM

Mimi - that is weird, but I have only been with underwriting for 1-2 weeks now. I turned in the second "full" package on 5/3 which included hardship letter, IRS form to get tax return, budget and household income, P&L statement, property tax statement, home owner's insurance declaration.

Their package requested 2 most recent personal bank statements but my rep said they weren't needed.

QUESTIONS:
1) Do I understand you correctly, that Chase is going to request 12 (twelve) months of both personal and business bank statements?
2) For the $50 deposit explanations, was that just on personal?
3) I'm guessing when you say they wanted several monthly bills, that you are referring to utility bills only to prove that you live there?
4) Did they ask for all of this upfront or as you got into the underwriting process.

I agree - VERY weird!

Thanks for your wisdom and experience

**Scarlett** · 05-24-2012, 01:03 PM

Originally Posted by Griffy

Scarlett, I'm in a similar situation: self-employed and my file is with the Chase underwriter. Did Chase ever end up asking for your bank statements? Thx

Hi Griffy,
So I still have not turned in my file! I've been waiting for Charlie to get me updated, but alas many promises later and many, many months wasted. I haven't heard back from him in over a month and just need to do this on my own. I just wanted an updated NPV report. Anyhow since that last post I did have a couple of Chase reps tell me I do need bank statements! But you have not been asked to submit any, that's odd? So confusing. Are you current? Well, I wish you the best.

**Griffy** · 05-24-2012, 01:31 PM

Scarlett,

I'm a bit behind you in the process as I submitted the preliminary package in March and the full initial chase loan mod pkg 5/3. I have had just a few soft rejects asking me to explain stuff to the underwriter thru my rep. He said I should hear something in the next couple of days. I'm a half a year behind on payments. I've used the info here but done everything on my own. So far so good, but its not over until I sing Hallelujah!

Keep us posted ... wishing you the best.

Griff

**TomEason** · 05-24-2012, 01:35 PM

Originally Posted by Scarlett

Hi Griffy,
So I still have not turned in my file! I've been waiting for Charlie to get me updated, but alas many promises later and many, many months wasted. I haven't heard back from him in over a month and just need to do this on my own. I just wanted an updated NPV report. Anyhow since that last post I did have a couple of Chase reps tell me I do need bank statements! But you have not been asked to submit any, that's odd? So confusing. Are you current? Well, I wish you the best.

Scarlett

As you might know, Charlie Rose left in December, with the promise that he'd continue with some of the active files he was working on.

I do know he's very busy in his new endeavor.

**Scarlett** · 05-24-2012, 02:14 PM

Originally Posted by TomEason

Scarlett

As you might know, Charlie Rose left in December, with the promise that he'd continue with some of the active files he was working on.

I do know he's very busy in his new endeavor.

Oh I know Tom, he has been telling me for months he had or will update my docs and send them in. Which one I could never get a straight answer. Just that this would be a done deal in a couple of weeks. Meanwhile Chase hasn't received one thing in the 10 month period I was working with him. I feel like a fool! Then I kept asking for my file which he promised to update, so I could give it to Chase myself, after months of asking he sends my original file I had done 8 months prior! I'm way too nice or gullible, is more like it. Now he just doesn't answer my emails.

**mimiy** · 05-24-2012, 02:47 PM

Did it take you 6 attempts and 2 years to get a TRIAL Mod, or that long to get a PERMANENT MOD after completion of trial? I know the media has covered it taking one-two years for many to get their Mods but thought that had been fixed after all the robo-signing lawsuit debacles. Do you know if there are many current cases of people being turned down on the permanent Mod adter completing their trial Mod successfully?

Thanks Cat!!

**mimiy** · 05-24-2012, 02:47 PM

Hi Griffey,

I am self-employed in a seasonal business so that might be why they asked for a full 12 mos bank statements from me as two months would not have proven my income.

The explanation for $50+ bank deposits was just for my personal bank accounts, yes.

The utility bills were requested to prove up my monthly cost of living.

Maybe every underwriter approaches it differently? But, if your application goes as mine did, you should be approved for your trial mod in 6-8 weeks from when you initially submitted the package.

They asked for MOST everything upfront or close to upfront. All i was asked for later was for the latest new bank statements and to update and re-sign my hardship letter as I recall.

Hope this helps!

**Cat Damiano** · 05-25-2012, 09:18 AM

Hi MiMi,

That was after my third trial plan, I was given one after a year by the collections dept. which I made 5 payments on in order not to be placed in foreclosure. The second trial plan was based on them using only my son's income which would not have been enough income to make that payment permanent, but the rep stated it is either that or foreclosure when I explained this to her, so I made 5 payments on that one and then realized that it isn't going to get anywhere so I stopped making payments and went to the Chase Homeownership Center and that is when I was put on the actual HAMP trial that turned into the permanent modification after the 3 payments.

**Griffy** · 05-25-2012, 11:36 AM

Thanks Mimi and Scarlett - I'll keep you posted! Have a great holiday.

**Griffy** · 05-29-2012, 04:25 PM

Yeah Chase just called with a tentative approval for a MHA! It's sitting right at 32% (not 31%) of my income and reduces my mortgage by 37%. I'm guessing the extra 1% is for back-due insurance and taxes. If I include not paying my 2nd mortgage, I've had a 52% reduction!!! Yahoo.

Now the weird part is Chase NEVER did ask for personal of business bank statements!

QUESTION: Once I enter the trial period and make my first payment on 7/1, will Chase ask for any bank statements during the trial period or after??? I have an insurance claim check coming that I don't want them to get access to.

Thanks Griff