Chase Initiated Loan Mod...

[jdsd21]

So I am 30 days late on my payments, talked with a couple collectors over the last month, but nothing major, pretty low key calls. Anyways, Chase, who services both my loans, called me today and initiated a Loan Mod with me. I found this surprising, I hadn't called them asking for any help. I told the lady that I couldn't afford the house in the first place, that my income was inflated without my knowledge by the broker and that a mod would not help unless the loan was completely restructured the right way from the beginning, ie principle reduced, etc. She said they consider all circumstances while doing the mod. Sounds good and worth it if I don't have to do anything other then send info in, the kicker is, they want me to stay current on my second loan while the mod the first. She mentioned a reason, but I couldn't hear too clearly. Anyways, I don't want to pay my second, I don't want to pay anything, just want to see if they can work a mod out that makes sense. I don't have confidence they could pull one that made sense but I am open to see what they can do...has this happened to any of you all that are walkin, what did you do?

[countrywideh8r]

I would at least work with them to see what they have to offer. It can't hurt anything and you may get a few months of "free rent" out of it.

You're lucky someone forward looking at Chase ended up with your account.

I stopped paying in December and still haven't heard from a real person from Countrywide. I have my doubts if they'll EVER have a live person call.