chase FmHA

kiwi09

LoanSafe Member
Jul 29, 2009
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0
Hello everyone I am new to the site and the cruel world of bills. I am having a horrible time withchase. I submitted modification papers to chase march 09 and just received a fedex package with modification agreement. (aug 09). They did not do anything. My interest dropped one percent and a the payment $40 dollars. I have called numerous times and they just tell me that i have a USDA farmers loan and this is the only terms that the lender is offering. How can this be? Obama says it should be 31% of your income. I have tried to find info on FmHA loans and it is impossible. Does anyone else have this kind of loan?
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,808
458
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Southern California
www.loansafe.org
Hello and welcome to the community!

Here are some links and info that may help you.

Russ Feingold: In the News - Press Releases

SENATE-PASSED FORECLOSURE PREVENTION BILL INCLUDES FEINGOLD MEASURE THAT COULD HELP FARMERS RESTRUCTURE

Feingold Amendment Requires TARP Oversight Panel to Examine Whether Banks Receiving Taxpayer-Funded Bailout Money Should Offer Loan Restructuring as an Alternative to Foreclosure for Farmers


Wednesday, May 6, 2009


Washington, D.C. – The U.S. Senate passed a housing bill today that included an amendment offered by Senators Russ Feingold (D-WI) and Kirsten Gillibrand (D-NY) that could lead to more farmers and ranchers being able to restructure their loans as an alternative to foreclosure. The Feingold-Gillibrand provision requires the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP) to promptly examine whether lenders that have taken bailout funds should help farmers and ranchers restructure their loans. In March, Feingold and Gillibrand led a group of senators in calling on the U.S. Department of Agriculture (USDA) and the Treasury Department to require TARP recipients to implement a foreclosure mitigation program that includes loan restructuring for farmers, as they have already done for home loans. Many farm loans either include a home as part of the loan or as security against the loan, so extending this provision to farmers and ranchers would help save farms and homes from foreclosure. Feingold and Gillibrand also received a commitment by Banking Committee Chairman Christopher Dodd (D-CT) to work to bring USDA and Treasury face-to-face with farm groups and farmer advocates so the agencies have a better understanding of the growing concern among farmers and ranchers.

“By passing this bill with my amendment, the Senate has taken an important step toward raising the profile of farmers and ranchers facing foreclosure in these tough economic times,” Feingold said. “Dairy farmers in Wisconsin and across the country have been especially hard hit by plummeting prices for their milk, while costs have remained relatively high. If the government is going to help lending institutions with bailouts, those institutions should be doing what they can to help keep all Americans in their homes and this amendment and meeting are important steps in makes sure this includes farmers and ranchers.”

The Feingold-Gillibrand push for TARP recipients to offer farm loan restructuring as an alternative to foreclosure when possible is supported by a host of agriculture-related organizations including the American Farm Bureau Federation, Dairy Farmers of America, Food and Water Watch, Midwest Dairy Coalition, National Farmers Union, National Family Farm Coalition, National Milk Producers Federation, National Sustainable Agriculture Coalition, Rural Advancement Foundation International (RAFI-USA) and over 50 others.





USDA Rural Development Home Page
 

NohelpfromEMC

LoanSafe Member
Jun 8, 2009
40
0
0
Update:
Denied due to the fact I make too much????.....

I called c/s today and was told.

Sent an email to Jamie Dimon explaining my whole situation etc. I have not been able to reach my contact in ER.

Less than an hour after I sent the email to Jamie Dimon I receieved an email and voicemail from my ER contact stating that she would look into this for me.

Will post if when I have more detail.

Enjoy the weekend!!
 

LTSATC

LoanSafe Member
Dec 21, 2009
119
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0
Kiwi,

I am just starting the process and also have a Chase FmHA loan. I am sick to my stomach rt now after reading the few posts on FMA loans. I need mine to be reduced more then 1%. Look into the thread FHA loans. There is some good info there but must admit I do not understand a lot of it.
 

davephx

LoanSafe Member
Jul 21, 2009
5,435
47
48
Rural Housing Service Mortgages

If your mortgage is insured by the United States Rural Housing Service (formerly the “Farmers’ Home Administration” or “FmHA”), you may be entitled to enter into an agreement to avoid foreclosure. The U.S. Rural Housing Service can be contacted at (800) 793-8861. Your mortgage is probably insured by the USDA/RDA if your mortgage papers or other closing documents refer to the USRDA, FmHA or “section 502 Single-Family Housing Program”

The USDA/RDA also offers payment moratoriums, Delinquency Workout Agreements (“DWA’s”), and protective advances to assist program beneficiaries.
 

LTSATC

LoanSafe Member
Dec 21, 2009
119
0
0
Contacted the Rural Housing and Dev. Since they do not have my loan(Chase sevices my FmHA) they stated that they cannot help me, I wiuld have to talk with Chase. I ahve contacted Chase and they were polite and helpful(so far) I will send my paperwork to them next week as I am still gathering all I need for that.
I think I will call the HOPE # and see if they can offer some assistance.