time line of foreclosure in tx

[shelleyils]

I posted about us being one month behind even with a mod. I called chase and they offered us a repayment plan because it is too soon to apply for another mod. Since we could not pay this month either, this is what they offered. On june 2, they want a down payment of 1500. From july to oct. or nov our payments will be 1116.44 instead of the 914. Unfortunatly there's no way we can come up with 1500. We are having a hard time paying the 914, so there's no way we can do the 1116. Basically what are our options? I really don't want to foreclose because I've heard that if you do, they will take your income tax refund to pay for all the taxes. They said to get a forebearance, you had to be unemployed.

[Cat Damiano]

Hi shelleyils,



I am so sorry that the modification that you fought so hard to achieve was unable to help. If you have your checking or savings with Chase I would suggest you move it, they wouldn't be able to take your tax refund to pay the taxes.

[Evan Bedard]

I posted about us being one month behind even with a mod. I called chase and they offered us a repayment plan because it is too soon to apply for another mod. Since we could not pay this month either, this is what they offered. On june 2, they want a down payment of 1500. From july to oct. or nov our payments will be 1116.44 instead of the 914. Unfortunatly there's no way we can come up with 1500. We are having a hard time paying the 914, so there's no way we can do the 1116. Basically what are our options? I really don't want to foreclose because I've heard that if you do, they will take your income tax refund to pay for all the taxes. They said to get a forebearance, you had to be unemployed.

You do not necessarily have to be unemployed to qualify for a forbearance. Forbearance periods are often offered to those who are underemployed and have endured a loss of income to give you time to increase your earnings, and the period could easily last 3-6 months. Generally, for modifications you can only achieve one within a 12 month period so they may not let you apply until it has been one year from the time you received the mod..

[shelleyils]

You do not necessarily have to be unemployed to qualify for a forbearance. Forbearance periods are often offered to those who are underemployed and have endured a loss of income to give you time to increase your earnings, and the period could easily last 3-6 months. Generally, for modifications you can only achieve one within a 12 month period so they may not let you apply until it has been one year from the time you received the mod..

Evan, do you have any idea who I could call to talk to about a forebarance? I called so many of the 800s and all I got was a recording. It took me forever to speak with a live person. When I mentioned a forebarence, the first thing he said was you could only get it if you were unemployed and the only option we have is a repayment plan. On sat. we got another certified letter saying we have 35 days for the date of the letter to get caught up or they will accelerate the foreclosure proceedings.

[Evan Bedard]

Evan, do you have any idea who I could call to talk to about a forebarance? I called so many of the 800s and all I got was a recording. It took me forever to speak with a live person. When I mentioned a forebarence, the first thing he said was you could only get it if you were unemployed and the only option we have is a repayment plan. On sat. we got another certified letter saying we have 35 days for the date of the letter to get caught up or they will accelerate the foreclosure proceedings.

Here are some executive contacts you can use that may be able to help you get on the right track..

Jamie Dimon Chairman & Ceo
Phone: 212-270-1111
Fax : 212-270-1121
E-Mail Address: jamie.dimon@jpmchase.com

Executive Team:
executive.office@chase.com

Penney Davis, Executive Resolution Team
904-462-2287
alsebre.davis@chase.com

[shelleyils]

Thanks. The only # I have is 877-290-7342. I'm just worried that when I call, I'll get the same answer and they will just offer us the repayment plan or they will tell me to call one of the toll free #s. Also, if I email them, do I need to have our loan # as the subject?

[shelleyils]

I posted this in another fourm, but was hoping I could get some answers here. Here is our situation: We got a loan mod back in aug. When we applied for it, my husband was working ot and our payments only went down $91. Now, he's not getting the pay he had last year when we got the mod. We are now 2 months behind on our payments. We do plan on making june's payment. When I called chase to explain our situation, they said we did not qualify for a forebarence and offered us a repayment plan. We'd have to pay 1500 down by june 2 and 1116 a month until nov. We don't have the 1500. I'm going to call a different chase # today to see if there's anyway we qualify for a fannie mae special forebarence. In the worst case senario, how long do we have before they'll foreclose? We get certified letters ever month saying they can accelerate the forecloser. When we pay june's payment, can they still go ahead with the forecloser? Yesterday we got an envelope put on our door that just told us to call chase. I'm guessing they've started forecloser proceedings.

[Evan Bedard]

I posted this in another fourm, but was hoping I could get some answers here. Here is our situation: We got a loan mod back in aug. When we applied for it, my husband was working ot and our payments only went down $91. Now, he's not getting the pay he had last year when we got the mod. We are now 2 months behind on our payments. We do plan on making june's payment. When I called chase to explain our situation, they said we did not qualify for a forebarence and offered us a repayment plan. We'd have to pay 1500 down by june 2 and 1116 a month until nov. We don't have the 1500. I'm going to call a different chase # today to see if there's anyway we qualify for a fannie mae special forebarence. In the worst case senario, how long do we have before they'll foreclose? We get certified letters ever month saying they can accelerate the forecloser. When we pay june's payment, can they still go ahead with the forecloser? Yesterday we got an envelope put on our door that just told us to call chase. I'm guessing they've started forecloser proceedings.

If you make a payment before you fall three months behind you may be able to put a stop to foreclosure proceedings. Generally, after 3 missed payments your servicer will not accept a payment from you unless it is for the entire past due amount along with any late fees you have acquired.. Unfortunately, unlike most states that are taking a year or more to complete a foreclosure, the process in Texas may take as little as 6 months from your first missed payment..

[shelleyils]

I called chase again and they told me no forebarance because they said you can get one only if you have not applied for a mod. Since the last time we made a payment was in march and we are going to pay in june, would they consider us to be three months behind? They went over our income again and said it was not enough to put us on a repayment plan. We can't apply for another mod until dec. My big dilemma is if I should keep trying to fight, or just throw in the towel and let them foreclose. Our biggest problem is if they do foreclose, how hard will it be for us to rent?

[Evan Bedard]

I called chase again and they told me no forebarance because they said you can get one only if you have not applied for a mod. Since the last time we made a payment was in march and we are going to pay in june, would they consider us to be three months behind? They went over our income again and said it was not enough to put us on a repayment plan. We can't apply for another mod until dec. My big dilemma is if I should keep trying to fight, or just throw in the towel and let them foreclose. Our biggest problem is if they do foreclose, how hard will it be for us to rent?

Surprisingly, it is probably going to be much easier to find a rental after foreclosure than you may think.. You are in a tough position because it is going to be hard to get any assistance since it has not yet been a year since completing the first modification. You need to contact your servicer and ask if making June's payment will put a hold on foreclosure proceedings..

[shelleyils]

When I talked with chase a few days ago, he said we were not in any danger of foreclosing yet. He said they don't start that until you are 180 days behind. Not sure if that is true. But even without a forecloser on our credit, we still have a bk from 8 years ago, a judgement from a credit card and other things that make it really bad. From what I've read, most places are going to require us to pay at least 90 days in advance or get a cosigner. I'm still going to try and fight to stay here.

[Evan Bedard]

It will be harder to get into a place that has a property management company running the rental because they almost always require a credit check and good payment history. But there are a lot of landlords out there who are willing to rent out their property as long as you have verification of income and paystubs to prove you can manage the payments.. Almost every member here who has walked away or ended up going through foreclosure has had to resort to a rental..