Modification approved but no documents sent

[suzy1052]

I am very angry about this situation.:
My Mod was approved March 24 but I still have not received any documents. They have told me the payment amount over the phone which is almost 500.00 lower along with the rate and terms however I have called everyday for the last six weeks and there is some problem getting the docs to me . They said I am not getting anything FEDEX because we are current and they just need to reset the terms. Any way the approval expires tomorrow and I am very nervous that they will try and say they never approved it. I had all my original docs in for the Request on Jan 8,2008 and I'm still waiting for the lower payment. Do you think I need to write a letter ? Has I am not getting anywhere on the phone. Everyone just keeps saying I'm approved, be patient and make my payments on time. Has anyone had this situation ?

[Moe Bedard]

Suzy,


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

Who is the lender?
What was the interest rate originally?
When will it adjust?
What are the exact terms and rate that you are being told you were approved for?
What number are you calling when you call?

[suzy1052]

Thank you for responding ***. My loan is with Chase Home Finance. My original rate was 8.25 with a payment of 1147.00 it reset to 11.25 with a payment of 1447.00 effective Jan 01. All paper work was sent on Jan 08. We have not been late in 24 months. My modification acording to about 20 different customer service reps who I have documented all of their Names and extensions verified a 30 year fixed payment of 902.56 with a rate of 5%. Today 05/11/08 this mod expires. No one can tell me what happens after that. I have not made my May pyment and customer service initially advised me not to pay April. I did pay April on the 29th, but it was not credited until May 1. Now the last couple of times I called (LOSS MITIGATION) They said everything will become retroactive. This would mean my payment for May should only be about 400.00 . The number I have been calling is the loss mitigation. I have spoken to several supervisors who claim this has been escalated. Any ideas, this is making my husband and I nervous.

[Moe Bedard]

Suzy.......


please post the number you are calling so I can take a look, Chase has three corporate divisions that they do modifications out of. This way I can see which one your loan is with......

[suzy1052]

OK, I have been calling the San Diego # 877-838-1822. A few days ago I supposedly spoke with a supervisor Victoria I think in Arizona. My last rep for the longest was Tony OR Joe Alvarez ? all my notes are at work. On Friday they said the cases had been rotated and My new rep would be Wayne somebody. This is a nightmare.

[suzy1052]

All the reps keep saying this is an easy Mod and they do'nt know why it is taking so long but don't worry they will make it right. It will be difficult to come up with 1500.00 for the fifth month in the row.

[Moe Bedard]

Suzy,

Call this number and tell them what has been going on with your modification.......they are right......yours should be an easy mod....we had another one just like yours in the Success Section and hers went off without a hitch......

This team should be able to help you out and tell you why you are getting such a runaround.......

This is to the team of the CEO....

Chase Home Finance LLC
Executive Resolution Team
1-888-310-7995
Fax: 1-866-831-8350

Hope this helps......
Please let us know how it goes........

[suzy1052]

Thank you for all the assistance. I will call tomorrow. I'll keep you posted.

[lighthouse]

hi suzy, we are on the same situation we got approved but no new loan documents to be sent and notarized justs till waiting a letter from chase, but I start my new monthly payment of $2089 from $3038 this May1st which they already cleared.Why dont you sign up for Chase online you will have access on your mortgage loan cause that is what I did and it will tell you the status of your loan( current rate ,type of loan, maturity date,etc,etc...) I'm also worried cause they approved us without any loan modification documents .

[suzy1052]

We are signed up online, there have been no changes same payment amount.
This is to ***:
Also I spoke with a Daniel today in the executive resolution department. He gave me his direct # and listened however he stated that this had not been approved and there was a reason why it was being hung up. He really was not very encouraging. He could not give me any time fram and he was a little shaky on the process of wether they send docs fedex or if they use the new system of just a letter to tell you the rate has changed. I cannot say I was encouraged with this department. Anyway he is supposed to call me in a couple of days. I will not call back until Wednesday.

[Moe Bedard]

Suzy,


Daniel is just that way to begin with he is definately not Mr. Personality....
But the Executive Resolution Team is the highest you can go up the food chain for Chase.......they are above the underwriters and loss mit team......the reason why they are in the process of changing the system is because they are not getting the mods that are coming back signed into the computer fast enough.......so they are trying to streamline the process........

If Daniel told you there was an issue with the mod that is the hang up.....he should be able to help you with it.........

Keep us Posted.............

[suzy1052]

Update- I spoke with Daniel today and he said I do not need to sign any documents. He said they are working on processing the reset and it should be effective for the June payment. I hope he's right. He was pretty nice today and said he would call me in a couple of days.

[Moe Bedard]

That is good news Suzy.........I hope all goes well.........
I am glad Daniel was actually nice today.........I guess he has his moments..

Please keep us posted on your progress.......

[suzy1052]

Also, I know he is working on it because the last two mornings I called he didn't even ask me my account number. *** thanks so much for the direct line to someone who can help. He answers the phone directly.

[Moe Bedard]

Suzy,

You are welcome.......
Daniel was actually a big help to me too......

Good Luck....

[suzy1052]

Hi ***,

I still have not had any sucess getting this modified. I was told by Daniel this was submitted on 05/15/2008 for a rework. He is now in some type of training and can not return my calls. We are moving into 6 months of payments at 1500.00 payments. Everyone has assured me the payment will go down to 900.0. I just got a late notice today and I am having trouble this month making that payment. Not sure where to turn. still frustrated.

[Moe Bedard]

I do feel your frustration............trust me when I say......try 5 months at 3k....

Unfortunately the Executive Resolution Team is the highest dept. in Chase....

A couple of times I just would call that number and not punch in an extension and just talk to anyone.......if Daniel is out his vm usually says who is working his files.........I think her name is Lisa but not positive......it should say on his vm.......

[suzy1052]

Update: Still no MOD but I talked to Daniel yesterday and they did remove all my late fees and he said the higher ups were working on this, so now were hoping for June.

[Moe Bedard]

Suzy,

I am glad Daniel is back............he helped me out too with some fees........
I am hopeful that you will hear something soon........
I can say that after my 5 month battle........once my file was escalated to him.......it went quickly from there.......

Thanks for the update......

[suzy1052]

Thank you, Thank You, Thank You !!!!!!!!!! You guys have been fantastic. My loan was finally modified for almost $500.00 lower. My new rate is 5%. Yes, It took forever but it was worth the wait. A huge thanks to you *** for sage advice. Anyone who is going through this should try and be patient and understanding but persistent. I still called every couple of days and finally I think they were as happy as I was. This is definitely a Chase Success.

[Moe Bedard]

suzy,

You are welcome.........I am happy that I was able to help you.......

I take it you finally got those documents........

[RudyJay]

Hi Suzy... Congratulations... I have Chase mod also... It is worth it..rj