Total disblief!

[lost at "C"]

We have been going through the modification process with Chase for 11months..Oct will be 1 year!! We completed the 3 payment trial period July 1st...haven't heard anything. My husband called Chase today and after months of being told our docs were in underwriting....today they are asking for.....you guessed it!!!!....more pay stubs and bank statements!!!!

[Melanie702]

Originally Posted by lost at "C"

We have been going through the modification process with Chase for 11months..Oct will be 1 year!! We completed the 3 payment trial period July 1st...haven't heard anything. My husband called Chase today and after months of being told our docs were in underwriting....today they are asking for.....you guessed it!!!!....more pay stubs and bank statements!!!!

Ugh. So sickening. Always something. ALWAYS! Sorry, I can't offer any help because I'm learning myself, but I know how frustrating it is.

[minknmelissa]

sorry to here that but its not a shocker same old story

[Garry]

Originally Posted by lost at "C"

We have been going through the modification process with Chase for 11months..Oct will be 1 year!! We completed the 3 payment trial period July 1st...haven't heard anything. My husband called Chase today and after months of being told our docs were in underwriting....today they are asking for.....you guessed it!!!!....more pay stubs and bank statements!!!!

They are supposed to do this to re-verify the numbers are correct on the final mod as far as I know. Not messing with you, just part of the process.

[ama125]

Originally Posted by Garry

They are supposed to do this to re-verify the numbers are correct on the final mod as far as I know. Not messing with you, just part of the process.

Not necessarily Garry. There are two ways to extend the trial plan...with all the required documents in hand OR via information collected over the phone and then verified once in the trial by the actual documents submitted. In addition, if the documents or home valuation is more than 90 days old, the borrower will have to supply updated documents. Since they haven't sent you anything signed yet (or anyone else for that matter), I would beat them to it and send in updated info before they get the chance to ask for it (of course with a follow up to confirm receipt but you already know how to play the fax game with them ). As for drafting up the final mod, if the documents are not outdated, then they shouldn't need anything more...just my understanding of it, but I could be wrong and they do seem to make up the rules as they go!

[Garry]

I was reading about the bulk mailing process and how it worked, I thought it said that people where pre-qualified according to a computer progam and everything is supposed to be re-checked at the end of the trial? I'm not sure on this.

[Garry]

I also pulled up the mod in a box MPV test, what a nightmare trying to figure it out yourself. It looks like they also consider your payment history? My history is solid up until I recently fell behind.

[ama125]

Originally Posted by Garry

I also pulled up the mod in a box MPV test, what a nightmare trying to figure it out yourself. It looks like they also consider your payment history? My history is solid up until I recently fell behind.

The months past due just determines how much past due principal and interest should get rolled back in to the current balance.