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What are these property preservation transactions on my statement?

Discussion in 'Chase Mortgage - Tell Us Your Chase Story' started by kat99, Sep 29, 2010.

  1. kat99

    kat99 LoanSafe Member

    <TABLE class=MsoNormalTable style="MARGIN: auto auto auto 15pt; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR style="mso-yfti-irow: 0; mso-yfti-firstrow: yes"><TD style="BORDER-RIGHT: #f0f0f0; PADDING-RIGHT: 0in; BORDER-TOP: #f0f0f0; PADDING-LEFT: 7.5pt; PADDING-BOTTOM: 3.75pt; BORDER-LEFT: #f0f0f0; PADDING-TOP: 3.75pt; BORDER-BOTTOM: #f0f0f0; BACKGROUND-COLOR: transparent">So I checked my mortage account online today and saw these two transactions -
    CORP ADV - PROP PRESERVATION DISB (2 @ $14 each)
    CORP ADV - MISC EXPENSE DISB (1 @ $78)
    I get that these are fees related to being late as I await the mod decision but does anyone know what they are specifically for and will the fees be erased if I am approved for HAMP mod? Are they ominous signs of the foreclosure "fairies" preparing for the ax??

    </TD></TR><TR style="HEIGHT: 0.75pt; mso-yfti-irow: 1"><TD style="BORDER-RIGHT: #f0f0f0; PADDING-RIGHT: 0.75pt; BORDER-TOP: #f0f0f0; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; BORDER-LEFT: #f0f0f0; PADDING-TOP: 0.75pt; BORDER-BOTTOM: #f0f0f0; HEIGHT: 0.75pt; BACKGROUND-COLOR: transparent" colSpan=2><?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:eek:ffice:eek:ffice" /><o:p></o:p>
    </TD></TR><TR style="mso-yfti-irow: 2; mso-yfti-lastrow: yes"><TD style="BORDER-RIGHT: #f0f0f0; PADDING-RIGHT: 0in; BORDER-TOP: #f0f0f0; PADDING-LEFT: 7.5pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 3.75pt; BORDER-LEFT: #f0f0f0; PADDING-TOP: 3.75pt; BORDER-BOTTOM: #f0f0f0">
    </TD></TR></TBODY></TABLE>
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    I'm not 100% sure what this fee is for. But I'm almost positive someone else here does as I have seen it mentioned before..

    The basic definition of this fee: Disbursement Miscellaneous expenses other than lawyer fees and court costs (i.e. filing fees) which paid on behalf of another person and for which reimbursement will eventually be demanded of that person.
  3. NeoSoulBrotha

    NeoSoulBrotha LoanSafe Member

    Corporate Advances are fees paid by the bank to a 3rd party. In this case, it sounds like this is:

    $14.00 property inspection fee
    $78.00 legal fees (filing fees, attorney fees etc.)

    Hope this helps!
  4. Calli09

    Calli09 LoanSafe Member

    It may be different for each different scenario of where you are in the mod/or foreclosure process. I am awaiting a NOD, not received yet, am in the middle of a chpt 7 bk. Included home in bk. The bank filed a motion for relief of stay to proceed. It recently went through, no NOD yet. My last statement I received from them recently had a $14 CORP ADV - PROP PRESERVATION DISB . I believe it is for someone to either call and get a person or machine at your residence to prove someone is living there, or even come out to prove it. In latter stages the amounts may be larger if they have someone "secure" or change the locks, mow the lawn, etc. If you do not mow the lawn yourself prior to the bank taking possesion. I know if they find no one actually resides at the residence, they will proceed with a lock change, etc. And believe me, I know of the storys on here already of the 3rd partys going in when a property is STILL occupied. The fee is a crock to say the least, and another way for them to make $, or extract $ they should not be taking. Just my take on that!
  5. kmdane

    kmdane LoanSafe Member

    OK - the fees I have had since being put on a special payment August 09 - Foreclosure and BK fees - NEITHER of which we were in. So CHASE is making money anyway they can. Some of the fees were stupid amounts - like 78 cents - then at the bottom of the printout - there is another fee for 28.00 -also listed as a foreclosure fee. This is from printouts that I received abt. 6 weeks ago - if I had seen this sooner - I would then have known that they were never going to modify us. Talked to an attorney - Loan Servicing Fraud - mind you we were always working - just wanted a lesser interest rate because being a State of Ca. worker and having furloughs - biggest mistake ever made. What a crock - and tell me - how can they get away with this?
  6. goldie

    goldie LoanSafe Member

    I think its outrageous too. Countrywide got busted for 106 million for these types of charges - like $500 to mow a postage-stamp size yard. Of course, 106 million is chump change to them. Did you like the attorney you saw? My suit was just filed 2 days ago. YAY! YAY! YAY! FINALLY!!! Although I know have a l-o-n-g wait until anything really starts happening on it.

    While it is not MHA specific (we're going after proof of ownership & MERS), the complaint does outline all the crap we suffered in dealing with B of A and their bogus bait-and-switch MHA offer.
  7. kmdane

    kmdane LoanSafe Member

    CAlli09 - are you in California? We are - even though we left -Chase does not know it yet - filing BK 7 -we keep up the home - lights on and off everyday. Chase can not legally change the locks - no NOD filed - nothing. I have one car in the garage. God I hate Chase - and I miss my home. However, we could see that CHASE was stringing us along so badly that no mod would ever come out of this. Of course - as my attorney said - and we all know - these banks can do what they want and it is a disgrace. No laws apply to them - they make up their own. We are still fighting for what they have put us thru - but for health reasons - my husband said we go. Inherited - along with my sister - my parents house - with a mortgage - so that is where we are - less than a mile away. Of course in the filing we gave up our home. Chase can have it with the dry rot that we were going to have repaired - we said - hell no - almost 10,000 - CHASE can have it. Sadly - people moving out all the time. It is all so wrong for everyone. However - we will all survive and the banks will get their day in court.
  8. Calli09

    Calli09 LoanSafe Member

    KMDANE, I am in Ohio, and still in the home, for now. Not sure how long before I get tired of all of this though. I expected my NOD this week, but still waiting. I did finally get a Mod, after 7 long months, but due to job loss am unable to keep pmts up. So Bk 7 and foreclosure is all I can do! The employment market is terrible. Good luck!!
  9. kat99

    kat99 LoanSafe Member

    thanks for all your responses. Needless to say, these fees are bad news for my mod attempt. I am three months behind in payments and am just in week one of the mod in underwriting. I have one Intent to Accelerate letter and am expecting another soon. I never saw anyone come by the house to check residency and have not gotten any calls to this effect but apparently they've done something to charge the fee. I'll be calling my useless contact at Chase tomorrow and will of course get lied to in her ever-so-sweet way but at least I'm doing something rather than just sitting here stewing...
  10. NeoSoulBrotha

    NeoSoulBrotha LoanSafe Member

    corp advance

    If you're applying for a mod, in all likelihood the majority of the fees will be waived once your mod is complete. Typically, any accrued late fees, inspection fees etc. will be waived assuming you're approved for MHA.

    The corp advance transactions you see also include 3rd party fees that will be billed to the investor on your loan, not you. I wouldn't panic. Just make sure you read the terms of your final mod agreement carefully and make sure everything adds up.

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