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

debofred

LoanSafe Member
Sep 13, 2010
46
0
0
Hi cat,

i have a question for you. Yesterday my chase rep called (off the recording) and told me the underwriters informed her that my loan (will most likely not qualify for a mod) - but there is a 50% chance when it goes to quality assurance it still could be approved. In the past you suggested i go to a loan center - which i am going to do next week. I also am considering a respa - (my rep indicated it was because we make too much $$- this is not true in every way).

Our home is not underwater but has a 40 year interest only that just readjusted to a 3.5% for a year. Yes this makes the loan more affordable - but it is not permanent. I am 63 and need need need to stay in my house. Any suggestions.

Thank you. Dj
 

bigtimes

LoanSafe Member
Jul 8, 2012
40
0
0
hi Dj,

not sure my experience will help you. i never gave any financial information to chase and they offered me the loan modification without it.
they said i had a three month trial period and if i made my payments on time they would change it to a permanent loan.

wish they would do that for you.
 

Cat Damiano

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

i have a question for you. Yesterday my chase rep called (off the recording) and told me the underwriters informed her that my loan (will most likely not qualify for a mod) - but there is a 50% chance when it goes to quality assurance it still could be approved. In the past you suggested i go to a loan center - which i am going to do next week. I also am considering a respa - (my rep indicated it was because we make too much $$- this is not true in every way).

Our home is not underwater but has a 40 year interest only that just readjusted to a 3.5% for a year. Yes this makes the loan more affordable - but it is not permanent. I am 63 and need need need to stay in my house. Any suggestions.

Thank you. Dj
Hi DJ,

It is just easier to go through the process when you are able to speak to someone face to face and let them show you the calculations and explain where it is that they are getting that you make too much money. That would still be my suggestion, and if they are unable to help, my next suggestion would be to go through NACA. Here is that information;

https://www.naca.com/nacaWeb/refinance/homesaveProgram.aspx?language=

I am not sure what you are referring to when you say you are considering a respa, but a loan modification denial would not fall under the RESPA regulations, they deal mostly with escrow accounts and real estate sales procedures.
 

debofred

LoanSafe Member
Sep 13, 2010
46
0
0
Thank you ... I don't know what the hell I am talking about anymore - but am determined to figure it out??!!