All Chase Modification on Hold!!! - Loan Modification Forum

KEVINNJ · 03-09-2009, 02:39 PM

I called Chase an hour ago to check on the status of my loan modification and the Rep told me that all loan modification is on hold until further notice... I asked why and she said it's because of the Obama administration mortgage guidelines. I asked if all foreclosure will be placed on hold as well and she said yes... Has anyone been getting this response from Chase? She also said that we may have to start the process all over again

diana0806 · 03-09-2009, 02:56 PM

Yes, i was told the same thing today. But i was told they will compare what they will offer to obama plan and give you the best deal. All foreclosures on hold. All should check with there reps. On holding foreclosure. I do not trust chase. That is from my experience. We will prevail!!! Good luck!!

rollertom · 03-09-2009, 06:59 PM

I need to call Chase tomorrow. I have yet to get a call but I am FHA and his plan does nothing for me. (that I can see)

roxcar · 03-10-2009, 06:57 AM

I was told the same thing by my analyst at Chase...everything on hold...mods & foreclosures!
All my docs have been faxed and i was told that they have put me on hold until they implement the new guidelines by Obama to see if i qualify for any of them. Said she would call.....i will still call her! I have already faxed my docs twice....sure hope i don't have to go through all that again.

Roxane

wishfullthinking · 03-10-2009, 07:10 AM

I called Chase today and spoke with an operator in Homeowners Assistance and asked if mods and foreclosures were on hold. He said not that he was aware of any holds, in fact he said that my loan mod docs were sent to my home fed ex yesterday (3/9/09).

KEVINNJ · 03-10-2009, 08:17 AM

well I haven't called today, I called yesterday and that's what the rep told me, I'm gonna call again today and see if anything has changed

KEVINNJ · 03-10-2009, 08:49 AM

Okay, I just got off the phone with Chase in Loss Mitigation and no mention of the hold from this Rep. He just told me that I'm still under review and things are looking good.. So if anyone else have been getting the response that all Modification was on hold, please try calling today and share your feedback if possible

Shelly17 · 03-10-2009, 09:35 AM

I called Chase last night and she said they are not on hold they are just comparing to see which is the better plan.

Kjrbetty · 03-10-2009, 11:40 AM

We know someone who called Chase the other day to ask about a Loan Mod and were told they did not qualify at this time. They asked then if they should just give them a deed in lieu and he said he could not comment on that at this time. They then asked if they were going to pursue foreclosure and he also said he could not comment. Interesting huh!

jeff6898 · 03-10-2009, 01:09 PM

I got served my foreclosure papers from Wamu/Chase last night

dos81 · 03-10-2009, 01:32 PM

I called yesterday and was told to fill out the loan modification application found under chase.com and fax it in along with all my financial docs. Even though I submitted all this information previously, they said to do it again and that they will review according to the new Obama plan. They said they were reviewing the new plan currently. Has anyone else received this type of reply?

Dan

jeff6898 · 03-10-2009, 01:36 PM

I didn't get that lucky I was told the results would be the same no modificatin for me, but that might be because my loan was with Wamu and not Chase originally.

Kjrbetty · 03-10-2009, 02:09 PM

To Jeff6898,

It may be time for you to use the "Produce the Note" tactic. look it up on the Web. It was on the news the other day and it can help to stop or forestall the foreclosure process and help force the loan companies to do a Loan Modification

jeff6898 · 03-10-2009, 03:02 PM

I will try that. I am a little confused though does it have to be the actual original contract with signatures or can they just produce a copy?

Kjrbetty · 03-10-2009, 03:17 PM

You Know, this is a great site for comments and info from people out there, but I still have not been contacted by LoanSafe since I sent them an e-mail requesting info on their LoanMod services? Has anyone else had this experience?

Moe Bedard · 03-10-2009, 03:39 PM

Have you called the number to the attorney's office directly?
1(888) 432-6634

MW87178 · 03-11-2009, 10:41 AM

I have been working with an analyst at Chase for a few months now and thought I was within a week or 2 of being offered a mod. When I last spoke to him he told me that all the mods are currently on hold until all the new guidelines under the Obama plan can be implemented with their databases. He was optimistic, but seemed to have no sense of when my mod could be re-reviewed or when I could hope for some kind of offer. It feels like a whole lot more waiting with no clear answers.

MW87178 · 03-18-2009, 12:59 PM

I was told by an analyst today that mods are still on hold while they get the systems set up for all the new guidelines under Obama's plan, said it could take another 2-3 weeks. I was also told that if I wanted to pursue a mod through Chase without going through the Obama guidelines that I could, but I'd have to sign a doc stating that I would not pursue that. I am under the impression that the Obama plan would offer a much better interest rate/mod with better terms than whatever Chase would try to do for me. My questions: do I keep waiting? Is this a stalling tactic? I have not yet fallen behind but I will be completely out of money after making my next mortgage payment, which is why I initiated a mod. back in November. What kind of mod offers are other getting through Chase (not the Obama plan)? Is anyone getting mods under the Obama plan right now? Any advice greatly appreciated!!

Moe Bedard · 03-18-2009, 01:46 PM

This is the contact number they have listed on the announcement for the new modification plan........call it and ask if they are offering the new plan yet..........
1-866-550-5705

roxcar · 03-18-2009, 01:58 PM

I recently contacted Chase by email to find out who the invester of my loan is....
I also asked about the new mod plan...
Below is their response to me...i received this on Monday 3/16/09.....

The investor for your mortgage is Wells Fargo Bank, N.A.
We support the ?Making Home Affordable? plan and are in
the process of evaluating all of our loans, identifying
which of our customers qualify based upon the eligibility
requirements. The Plan is intended to help customers who
are current on their mortgages but are at risk of falling
behind on their payments or who are now in default.

If you are behind on your payments, you occupy your house
as your primary residence, and you have not yet applied
for a loan modification, you will need to work with our
Collections or Loss Mitigation Department. They will help
determine if you qualify for the ?Making Home Affordable?
plan or other loan modification or assistance programs we
have available. Please contact a Loan Counselor by calling
1-800-848-9380.

Roxane

MW87178 · 03-18-2009, 02:01 PM

Thanks ***. I just called and was put through to someone who said that they'll have it in place on April 6. he said that right now all they are doing is taking people's info. and It seems like asking a few questions to determine if you fit into the basic qualifications. He said they do not even know exactly how the guidelines will work at this point. Are other's getting the same response? Thanks!!

whencedarsfall · 03-20-2009, 11:57 AM

Every time I try to post a thread it says I have too many images. I have no images... I have no idea why this doesn't work? Any ideas?

This is most frustrating!

Moe Bedard · 03-20-2009, 12:48 PM

it happens sometimes when you change the font, size, color,...........all at once.....

whencedarsfall · 03-20-2009, 02:08 PM

I can't get a response out of Chase. They just continue to tell me they did not receive my modification file/paperwork. I sent it certified and have proof they signed for it. I'm not sure what to do next, honestly. They told me I didn't qualify, yet they did not tell me what the criteria was or what I could do, what options I had.

They have been a nightmare to deal with. Likewise, my 2nd mortgage co. National City has been very easy to deal with. You get to speak to a person anytime and they keep you updated on the progress.

Any ideas what I should do next? Should I go to the Chase online site and try to qualify modifying my information?

Signed,

Lost w/ Chase

letma · 03-20-2009, 02:44 PM

well cedar..I was in the same boat you were in until recently. I first submitted my mod app in December. My information was lost in the system. I resubmitted it online and to protect myself, I decided to contact 995hope.com for help. I did the app online and they gave me the direct contact fax number to their assistance department. I was to fax all the requested info which I did. I received a letter in the mail from the chase preservation department which requested more info on the analyst who was supposed to be helping me at chase. 2 days after my fax, I was called and told my mod was approved! Ok so I am 5 months behind and will soon be 6. Because of Chase's mistake in losing my file, I was able to save more money so that fall behind doesn't happen again. So their mistake is your gain

Keep your faith as I have been and everything will work out!