Modify your loan with chase- chase says send as many as you can to us...no mod, no charge, simple

chrissty

LoanSafe Member
Oct 17, 2010
125
0
0
thats the main thing that I was impressed with -- no upfront fees -- so unless you are satisfied there are no charges --
the rest report can be ordered seperately so you can use on your own -- looking forward to great results and reporting them :)
 

TomEason

LoanSafe Guide
Jun 18, 2009
12,390
84
48
SF Bay Area CA
JohnS

FYI, loans are written off or charged off after six months of non-payment. Charge-off is simply an accounting term. If you're asking Charlie if you can be at least six months past due, the answer is yes. So, it doesn't matter a wit.
 

bryanw328

LoanSafe Member
Aug 13, 2009
33
0
0
Muskegon, MI
"Thats right 715.00 is the loan safe discount which is a drop in the bucket after most have missed several mortgage payments. Unfortunately for me, the money IS a problem. It's seems even frustrating now knowing that my numbers add up - but I can't afford the $3500.
Maybe I should go to my local chase branch and ask them for a personal loan. ;-)
 

Michael Naz

Michael Naz
Jan 9, 2011
2,965
38
48
Southern California
"Thats right 715.00 is the loan safe discount which is a drop in the bucket after most have missed several mortgage payments. Unfortunately for me, the money IS a problem. It's seems even frustrating now knowing that my numbers add up - but I can't afford the $3500.Maybe I should go to my local chase branch and ask them for a personal loan. ;-)
The rest report is a product and not something that is needed all the time after review and if it's something that will be a benefit we suggest it. The rest report is a outstanding tool and the results have been great thus far. It tells you what income u need it if what you have is spot on for all mod programs big time saver.. Lol on the chase loan that was comedy. Made a good laugh for the nite, we need to stay humorous don't let these banks get you down!!Chase has been great since coming to our office and giving us a great point of contact for our files.Last chase was done in 2 weeks and 2 days before 31 days I'll be posting mods waiting for a section to just post mods
 

what now

LoanSafe Member
Dec 4, 2011
14
0
0
hello Mr Rose,if yuo could would you look at my situation under "what now".....In a nutshell i would love to stay in my house!!!! Im in the second month of a loan mod program with 1 to go....i talked to a hope counselor today....im confused i guess Mr Rose,maybe i can have a phone interview with you since you are powerful in this arena at present...?
 

raininginseatttle

LoanSafe Member
Mar 17, 2012
12
0
0
Have you done mods on rental properties?

Has your services helped any rental property owners with Chase? I have a 4-plex that I have been declined on twice already.

Thanks,
 
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Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
Actually eightracker they have two other threads going where they are helping members and have helped with modifications of rental properties as well.

http://www.loansafe.org/forum/loan-modification/37328-rest-report-restreportmatters-com-forum-users-results-81.html


And "raininginseattle" was helped with this question in the following thread post #1564 by them.

http://www.loansafe.org/forum/loan-modification/40270-find-out-now-if-you-even-qualify-loan-workout-solution-post-your-situation-65.html
 

Jeffrey L. Shurtliff

LoanSafe Member
Dec 4, 2010
3,806
137
63
I wholeheartly agree with Cat here and will add that the services of Rest Report have helped many even some of my personal friends. Keep up the good work Loan Mod Center!
 

bigtimes

LoanSafe Member
Jul 8, 2012
40
0
0
If a non-recourse loan is modified does it stay a non-recourse loan? Why when offered a trial modification do the banks not tell you the interest rate the final loan would be if you make your trial loan payments?
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
If a non-recourse loan is modified does it stay a non-recourse loan? Why when offered a trial modification do the banks not tell you the interest rate the final loan would be if you make your trial loan payments?
No, a loan modification will NOT change the recourse status of your loan. So if your loan was non-recourse it will still be considered the same once the modification was finalized, only a refinance will be able to change the new loan to recourse since it is no longer a purchase money loan. Since the rate that you receive as the final rate of either a permanent step rate modification or a permanent fixed rate modification is tied to the Freddie Mac Prime Market Rate, and what it will be at the time the modification is made permanent, they would not have this information at the beginning of the trial payments. They would need to wait until all the trial payments were made on time allowing for the inception of the permanent modification to see what that rate would be.
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org

bigtimes

LoanSafe Member
Jul 8, 2012
40
0
0
CAT,

I was talking to an IRS guy today that works in the foreclosure department. He wanted me to find out if I am "personally liable" for my mortgage. I am thinking since we are a non-recourse state that I am not but I am not sure what words to look for in my mortgage agreement. Your thoughts?
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
CAT,

I was talking to an IRS guy today that works in the foreclosure department. He wanted me to find out if I am "personally liable" for my mortgage. I am thinking since we are a non-recourse state that I am not but I am not sure what words to look for in my mortgage agreement. Your thoughts?
This isn't something that would be indicated in the mortgage agreement, however, it is on the 1099-A and the 1099-C box 5, so not sure if that is what they were referring to.
 

bigtimes

LoanSafe Member
Jul 8, 2012
40
0
0
CAT,

I think with my loan I am either personally liable or I am not personally liable. Before I get a 1099A or a 1099c in 2014.........I am trying to figure out if Chase sees me as personally liable or not. It is my understanding that that will make a difference as to whether I may have to pay taxes regarding my foreclosure.

Did you send me a help line in WA in an earlier thread? Maybe I could call them. I would rather not have to call Chase.

Bigtimes
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
CAT,

I think with my loan I am either personally liable or I am not personally liable. Before I get a 1099A or a 1099c in 2014.........I am trying to figure out if Chase sees me as personally liable or not. It is my understanding that that will make a difference as to whether I may have to pay taxes regarding my foreclosure.

Did you send me a help line in WA in an earlier thread? Maybe I could call them. I would rather not have to call Chase.

Bigtimes
I see you have already posted another thread on this topic and Evan has posted there as well.