Wamu/Chase-What to do??

[notasmartowner]

I'll try to keep it short and hopefully still provide the details.

I got my first mortgage modded through BofA w/o any issue. My second is with Wamu and almost becoming FULL Chase around 10/25...For the last 6 months i have tried to get my 2ND mortgage modded with Wamu and i have never in my life experiencedso much stress, frustration and anger.

The first time the denied my app because i did not provide the em info on "Home Owner Association" which i repeatedly told on phone and fax that i did not have any!! and they still denied on basis that i never responded to them??

And now when i call them i talk to about five people in which all of them provide different answers and information about my 2nd attempt at Loan mod.... Blv it or not, i have reps asking me "is this the first mortgage???" "Your not in our system" and other stupid questions that fuel my anger.

It has been 45 days since i applied...the file is "in review" i had to miss 3 payments (NOD has been issued).

What to do??? Who to talk to????

Has anyone had any luck with them????

[Evan Bedard]

Hi notasmartowner,

And now when i call them i talk to about five people in which all of them provide different answers and information about my 2nd attempt at Loan mod.... Blv it or not, i have reps asking me "is this the first mortgage???" "Your not in our system" and other stupid questions that fuel my anger.

It has been 45 days since i applied...the file is "in review" i had to miss 3 payments (NOD has been issued).

What to do??? Who to talk to????

Chase is a very difficult lender to work with especially with a second mortgage. When they say your case is in review, do they also state that there is a negotiator assigned to your loan?

Also not sure if this is possible for your situation but many lenders are willing to settle 2nd mortgages for about 5-20% of the remaining balance on the mortgage..

[caldwellb02]

I can attest to Chase being difficult. have you tried their Executive Team? Their number is 1-800-242-7399. Good luck.

[robertberner]

Hi, I'm a writer with BusinessWeek. I would like to talk to you about your second mortgage. Can you please email me at robert_berner@businessweek.com or call me at 312-451-7149. Rgds, Robert Berner

[caldwellb02]

notasmartowner - definitely talk with that business week Robert. We need people out there to know what is happening. I've been working - if you can call it that - with Chase for 9 months. Got one denial "hardship is not a permanent situation" but beat that one down - although I did think of getting a Lotto ticket. Chase is the servicer for my first (Deutsche owned) but they also own my second (my home is now worth less than the first) so I'll be very interested in your progress. Maybe there will be some change when they "fully convert?" Doubt it, but wouldn't that be GREAT. So many of us could actually be out of this nightmare if Chase would just quit giving us the runaround. I feel for you.

[robertberner]

Thank you for your post. Robert Berner

[caldwellb02]

You're welcome, Mr. B., but now I'm a bit suspicious. Saw your post re: the WF second on another thread. Please do not be lurking here lest you have our best interests at heart.

[notasmartowner]

Thanks all for your input.

Robert B, I would not mind sharing this horror with you but after the comments from Caldwell, let me just make sure.

In any case, I called the executive dpt. The person on the other line was very attentive and "seemed" to care. He took all my frustrating story down and advised that I should receive a call in the "next few days". This FRIDAY should in that next few days range so I might give them a call.

Just a heads up that I DO NOT have a permanent hardship. IN my financial docs we see a $500 surplus. But guess what? I have at least 2 upcoming and impending expenses. Another kid on the way...and my $70K student loan kicks in June 2010. THIS alone is the reason for my request for MOD and I know it does not matter to Chase but my loan is $790K in which chase's share is $158K. House is worth $500K. The stupid WAMU does not understand that they forclouse but wont get $h!t from the sale as BOFA part has to be satisfied first...WHY DONT THEY UNDERSTAND THIS??????