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"debt validation notice"!? FROM them

Discussion in 'Chase Mortgage - Tell Us Your Chase Story' started by davew, Nov 5, 2009.

  1. davew

    davew LoanSafe Member

    I get in regular mail today from chase a letter about my loan titled "debt validation notice". It states total amount due but that the amount on the day I pay I should call to get exact "PAYOFF" amount. This is not past due but the total 1,050,000. As in one million bucks. It goes on to say I have 30 days to dispute it and if so they will mail "verification of debt" and if - "request in writing the name of the original creditor if other than the present creditor I will provided that" "the purpose of this communication is to collect the indebtedness due or to repossess the property that is the security of such debt". This all seems odd. Comments?
  2. davephx

    davephx LoanSafe Member

    This is the typical credit card letter you get when its sold to a debt collector. This is the first I have heard of it for a mortgage.
  3. davew

    davew LoanSafe Member

    Exactly what it is like. Question is what to do about it.
  4. michelle.m

    michelle.m LoanSafe Member

    I also received the same letter. What do we do with it? Our loans have been discharged since may. who/why would someone buy an uncollectable loan?
  5. litehouse01

    litehouse01 LoanSafe Member

    Are you both on the MHA/HAMP trial plans? If you have an attorney I would give it to the attorney..........ASAP let them handle it.
  6. shuladore

    shuladore LoanSafe Member

    I am on HAMP have made 7 payments got the same notice. I called immediately about it. They said they sent it to everyone. I don't know who everyone is . I had one thought I now the govt is buying up some of these loans that are modified perhaps this is like a payoff statement? Also they charged my account $30.00 to provide this. I also wonder if it is an attempt to comly with fair credit reporting since they have not sent me any statements since April when I started this process. My file is in quality control per the rep tonight. Anyone know what that dept does?
  7. cliffdweller

    cliffdweller LoanSafe Member

    Hi,
    Shuladore: did they say what to do with it?

    Strange, I have always thought my loan was WaMu/Chase owned, but this says
    "the creditor to whom this debt is owed is: Wmmsc c/o B of A as Ttee"

    ??
  8. shuladore

    shuladore LoanSafe Member

    they told me not to do "worry" about it. I guess I will call again tomorrow to ask someone else all the same questions and seee what the answers are than.....
  9. wonderland

    wonderland LoanSafe Member

    Hi I just recieved this same note today! I am worried about it. We have made 5 trial payments. My husband called today and they said there is no news. I thought maybe this was something they send before they file a NOD. Those of you who got this debt validation letter what are you doing?
  10. wonderland

    wonderland LoanSafe Member

    Oh it says Wamu (now Chase) securities owns my mortgage...Does anyone know who that is? Does that mean my loan is in an investment pool likely sold to lots of investors?
  11. davew

    davew LoanSafe Member

    Hmmm. When I tried to get a statement online weeks ago my account is locked. When I called they refused to send me a statement. Maybe this is their check in the box to say we gave you one. Anyway I am sending in qwr getting an audit and going on the offensive. Enough of this crap. I hate em.
  12. wonderland

    wonderland LoanSafe Member

    actually we asked for a statement of our account too as we are too locked out. Hopefully that is all this is...
  13. caldwell02

    caldwell02 LoanSafe Member

    I got the same one - DEBT VALIDATION NOTICE. Informed me that Deutsche owns BOTH of my loans. Have no idea when that happened.

    Sure guys, I have $300,000 all ready to pay you plus interest right now!!
  14. caldwell02

    caldwell02 LoanSafe Member

    the more i think of this, the more i think it's got something to do with the Wamu/Chase final takeover. Just dotting I's and crossing t's.
  15. wonderland

    wonderland LoanSafe Member

    I sure hope that is the case
  16. Marie T

    Marie T LoanSafe Member

    okay...I got my Debt Validation Notice today too. Mine says "As of October 29, 2009"...and lists off everything I owe. Mine says the creditor to whom this debt is owed is Jpmorgan Chase Bank Na. I think that is strange since WAMU owned and serviced my loan.

    It does look like it is going to everyone ...even those who have made many trial payments so that actually makes me feel better....I think!
  17. zander

    zander LoanSafe Member

    Recieved Debt Validation notice today also. What is going on here this is something bill collectors send. Do they really think after paying on this loan for 8 years and making 5 trial modification payments i'm going to dispute that the debt is valid , it would be extremely difficult to dispute the amount at this point as they haven't sent me a statement in almost 5 months. Please anyone that has gone beyond this point let us know what's next....
  18. caldwell02

    caldwell02 LoanSafe Member

    guys - what I think this is is Chase dotting the i's and crossing the t's. What I mean is that this is the last part of their takeover of Wamu.

    Many many of us got this in the last few days. Let's see what happens next. I am not replying to them because they are right - I do owe the mortgage. However, this notice does not also validate that I have been working on a mod and I don't think it was supposed to.

    Breathe. Doesn't mean we will get our mods. Just a formality.... I think.
  19. chevy56

    chevy56 LoanSafe Member

    I also received this letter on Saturday. I have already received perm mod docs and sent in first payment which they cashed. Although my acccount has not been updated online as of today. I agree with Caldwell and believe it has some thing to do with Chase taking over Wamu. Was everybody on this thread with Wamu before the takeover? I was.
  20. shuladore

    shuladore LoanSafe Member

    Hi :

    started wondering if we can use these debt validations to ask for them to produce the note with a mortgage wouldn't this be the "validation" ?

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