Home Loans and Support

What to do after your third trial payment

Discussion in 'Chase Mortgage - Tell Us Your Chase Story' started by caldwell02, Dec 14, 2009.

  1. caldwell02

    caldwell02 LoanSafe Member

    I was just told by a guy at Chase loss mitigation to be "proactive" after the third trial payment and fax in:

    • last two paystubs
    • last two bank statements
    • proof of occupancy
    • 4506T
    Then call them (loss mit) the next day to make sure they got the docs.

    Then to keep calling every week.

    Soooo. What I got from that is that they are really behind and we have to be the squeaky wheel and we have to be the ones to send in the docs right after the third payment.
  2. Chased around and around

    Chased around and around LoanSafe Member

    Well I say if you have good job, you want your house and don't feel like moving, then keep making the trials.

    Some trial paperwork says that any "extra payments will be used to reduce the total amount of interest you pay over the life of the loan". Of course after you get the perm mod...
  3. caldwell02

    caldwell02 LoanSafe Member

    Hmmm. Hmmmm. I'll have to think about this a bit more.....
  4. azdmsmith

    azdmsmith LoanSafe Member

    I was told the same info was needed except for the bank statements. I am really torn on whether or not to be proactive and continue to send in docs over and over again. The guidelines (Supplemental Directive 09-07 page2) read:

    A borrower’s income documentation may not be more than 90 days old as of the date that such documentation is received by the servicer in connection with evaluating a mortgage loan for HAMP. There is no requirement to refresh such documentation during the remainder of the trial period.

    My income documentation was NOT more than 90 days old when I sent it in and they sent everything through underwriting before placing me on a trial payment so I think it was “evaluated†for HAMP and I would argue that asking us to refresh income documents is a stall tactic.
    HAMP supplemental Directive 09-07 page 4 reads,
    Servicers should use the credit report to confirm that the property securing the mortgage loan is the borrower’s principal residence. The servicer is no longer required to verify theborrower’s principal residence using other documentation.â€
    As long as your address matches your credit report requiring further proof of occupancy is also a stall tactic.
    Lastly, Chase can send us final mod paperwork without form 4506. The HAMP Conversion Campaign FAQs that servicers are instructed to check daily at www.hmpadmin.com read:
    “if the borrower has not submitted a signed and completed Form 4506-T or 4506T-EZ but has submitted the most recent tax return (including all applicable schedules), has made all required trial period payments and is otherwise eligible for a HAMP modification, the servicer should send the Home Affordable Modification Agreement and the Form 4506-T or 4506T-EZ, as applicable, to the borrower in the same package and instruct the borrower to execute and return both documents in order to receive a permanent HAMP modification.â€
    So while they say the problem is that we aren’t submitting docs, I would be willing to bet a huge majority of us who are on trials HAVE sent in the docs so if they would just properly apply the guidelines, they would not need one single document from any of us.
    Of course I didn’t get far trying to make that point with anyone at Chase so I guess we are supposed to just keep sending in docs and payments????<O:p</O:p
  5. Evan Bedard

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

    The chase rep was right, you should send in all updated information right after the trial period is complete. They are most definitely behind and you should do everything you can to stay on top of your case. I hope all turns out well for you Caldwell:)

    You have been here for quite some time helping others with their situations, and it is about time we get your loan modified as well!!

    I will definitely be following your case closely to the end;)
  6. caldwell02

    caldwell02 LoanSafe Member

    Thanks Evan. I am trying to stay as proactive as possible. Still have a second after this one is done. I really did get an intelligent guy at Chase today. What a breath of fresh air he was.
  7. watsot01

    watsot01 LoanSafe Member

    Just keep paying, and paying, and paying, and paying.
  8. Haduken

    Haduken LoanSafe Member

    Does anyone know the percentage of people who are approved after the third trial payment? We have 1 more month and we are working with a lawyer, which is a big help. I just wanted to know if we give them everything they want in a timely manner, what are the chances?

  9. juskilentime

    juskilentime LoanSafe Member

    I think that is really good advice; however, by the time your 7th or 8th or 9th trial payment is paid, these updated documents are stale once again :mad:
  10. caldwell02

    caldwell02 LoanSafe Member

    Egad I can only imagine. I'm just stepping into this next hurdle. It took 11 months to get HERE.
  11. pbharris4

    pbharris4 LoanSafe Member

    caldwell....after our 3rd payment I email jamie dimon a nice letter stating that we've done everything that was asked of us, etc. and that we need to file BK soon would they please expedite our file. We got a call 2 days later from Carla Brantley of the Executive team and a follow up letter. 1-2 weeks after that we got a call for more info for up to date bank statements & paystubs. We had our perm. mod. within 1 week. We did pay the 4th payment.

    I would be proactive & go ahead and send the paperwork in before they ask. They had called us and requested certain months bank statemts from a few different months. So we did. So a few days later we get an urgent call from our person handling our case (Ann Marlowe) to fax her different months and they needed it THAT day! We were to fax them directly to her computer so she could get it to the underwriter.

    When you fax stuff in it takes a few days for it to get into the system.
  12. exhausted girlfriend

    exhausted girlfriend LoanSafe Member

    caldwell, experience has taught me to keep those documents refreshed every month and call regularly. Keep making your payments and be very faithful on your end. Try to anticipate everything in advance so as to not delay your process.
  13. Dolphingirl

    Dolphingirl LoanSafe Member

    I am about to make my 3rd trial/repayment plan payment (it is called different things based on who I talk to) on Jan 1st. I was also told by a rep to update all my info and then confirm it was received. Make sure to do this! Chase is so backed up, they will mostly likely not call you. If info isn't updated and they look at your file they will either reject or move on. It is a pain to keep faxing stuff, but send it in. It is your best chance.
  14. pbharris4

    pbharris4 LoanSafe Member

    Yes...confirm everything. Send the docs and then call 2-3 days later. We also sent in all of our payments by certified check and USPS Express Mail for proof they received it. It cost more, but worth it to us.
  15. caldwell02

    caldwell02 LoanSafe Member

    I have made it a habit to comply with Chase's requests (other than their denials of course ;)) throughout this almost year-long oddessy). So I will continue. I will send in my docs probably by 3/1 just to keep this going. I called three times between the time I sent in my trial docs with the first payment and today (the date they were due) and talked with three different people to confirm it was on track.

    I was surprised to hear that I should just send the docs in (at the three months mark). I've been perusing this forum for months, and heard of many many people being extended indefinitely, but I had never read (or just didn't read the right thread) about sending in the docs on my own. that's why I posted this here. Maybe it's like being pregnant - you really don't notice how many others are pregnant till it happens to you :eek:.
  16. SwillerAlesbane

    SwillerAlesbane LoanSafe Member

    I'd keep paying Cald. I personally did NOT pay after my 2rd trial, but then again, I didn't give two sheets if they foreclosed on my home. Technically, at least according to my paperwork, the extra payments are supposed to go to the PRINCIPAL, and zero applied to interest. I bet they are screwing people on that too, I didn't give them a chance to put that in my behind so I'm not sure if people are getting burned on it.

    The funny thing is, now that all this sh1t has passed for me, I could still walk from this house even WITH a mod. Chase has pissed me off that much. Not to mention the fact that housing will not recover anytime soon, and if rents become cheaper than my 2% modification, or if another bombastic drop in property values comes along, I'll default again. I simply do not care anymore. I don't care if people judge me, I don't care if I'm avoided. I'm done greasing the damn wheels with my own LIFE'S BLOOD.

    2 years or so until the crowds are in the streets. Mark my words.
  17. SwillerAlesbane

    SwillerAlesbane LoanSafe Member

    Oh and one thing, if you want to feel good about sending paperwork in.....just get ALL the fax #'s listed from this site, and send it in to every last one of them. I do, I could care less if it gets ignored or round filed, that's probably what happens to it anyhow with how often they say they have not received anything.
  18. Chased around and around

    Chased around and around LoanSafe Member

    Swiller, My condo here in Mission Viejo is 235K underwater. It will be maybe 7-10 years before it is even close to what chase rented it to me for in the beginning of this mess in '06.

    I am ready to walk and will not look back. When they kick me out I will file BK7 and be totally debt free and start a new life. I will stay in OC til I retire then leave this state for good. I file BK7 in '93 and guess what, I survived. First time in my life, life was good, cash always in my pocket, everything purchased was paid for on the spot, and yes, I actually lived under my means...
  19. SwillerAlesbane

    SwillerAlesbane LoanSafe Member

    I gotta help you out here a bit friend. File a Chapter 7 right BEFORE the auction date. LOL, it will put their panties in a bunch for sure and you will get at least 1 extra month in there....at least :)

    Make em pay damnit!

    P.S. The Brick family already defaulted on that Chase loan you got for them!
  20. SwillerAlesbane

    SwillerAlesbane LoanSafe Member

    You know chased...we GOTTA meet up and talk. I too, filed for BK7 back in the 90's because I was caught up in the Lincoln Savings & Loan mess. During that mess, the government would not ALLOW me to sell, so I moved out and Bk'd.

    I learned then, nice guys get burned.

Share This Page



"Hello Moe, I just wanted to tell you, your website has saved my life (literally), I stumbled on your site in the middle of losing my home, I was able to network with people going through the same thing as I am. I didn't feel alone anymore, I have tried to give back and counsel those that haven't walked in my shoes yet. We hear so much about what is wrong with America, I just wanted you to know, you are whats "right" with America."

Nina Mitchell
Loansafe & MoeSeo Inc. © 2014 | LoanSafe.org is not a bank, lender, mortgage broker, law firm or affiliated with the US Government. Privacy Policy