Chase success

MovalJ · 02-06-2009, 08:26 AM

Like many of you I have been trying to mod my loan through Chase. After months of trying and my paper work getting lost 3 times, I finally was told yesterday my loan is approved but it is waiting for manager approval. Is this a good? Does this mean my loan is just about done or is this just another line they give you to get off of the phone?

Dan Bailey · 02-06-2009, 08:36 AM

Moval,
Glad you found the forum and posted. All you can do is keep contacting them and documenting all calls. Without knowing the details of your process so far, and hearing the call, its a hard question to answer.

MovalJ · 02-06-2009, 08:42 AM

I am guessing I have success. I could not wait any longer so I just called again and was told my mod is in the closing department but has yet to be assigned a closer. I was told they should be calling me in the next day or two.

MovalJ · 02-06-2009, 08:44 AM

Btw great forum you have here. I have told several people at work in the same situation as me about it.

Moe Bedard · 02-06-2009, 10:51 AM

Hi MovalJ,

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

As Dan mentioned, it is good at this point to follow up.............it is good news that you are in the closing dept..............but if you don't hear back by Wed...........call in to see if the documents are being put together for the modification to be sent to you.

Please keep us posted on what you hear.............

MovalJ · 02-11-2009, 10:14 AM

I started my loan process in oct of 08. I sent in all the required paper work, then call to make sure they received it. The lady I spoke with at that time said call back in 60 days to find out what was going on.
In jan 09 I called to find out what was going on with my mod and they told me they never received my paper work. So I sent the paper work again, the lady again told me to wait 60 days before calling back. 2 weeks later I called to check up. Again they claimed I never sent in my paper work. So I sent the paper work again. This time I called every day to check up. Every day they told me it would take 60-90 days. I told them I was going to keep calling every day until I got an answer. Yesterday they called and said my mod was approved.
My loan was 7.275% I/O that adjusted to 10% in 5 years. My new loan is going to be 5.5% for 5 years then 6% for the remainder of the loan.

Moe Bedard · 02-11-2009, 10:58 AM

Congratulations!!
That is great news!

Please let us know when you receive the docs.............