Modification Secrets

To understand what is going on with loan modifications behind the scenes it’s important to know the players. You already know that the government regulates, and pumps money into the mortgage market. Government backed loans are backed and purchased through Government Sponsored Enterprises.

These Government Sponsored Enterprises (GSE’s) were created by The United States Congress. One purpose of the GSE’s is promoting equal housing opportunities. The most well known GSE’s that were formed for this purpose are Fannie Mae, Freddie Mac, and Ginnie Mae.

All activities performed by these entities are done with heavy guidance from the government. This type of loan may be fairly easy to get modified as they are currently under extreme pressure to shore up their loans.

Private mortgages do not have the same level of intensity applied by the government, although any industry that ignores pressure applied by the government is ill advised to do so.

Private mortgages which are kept by the initial lender are called portfolio loans. This means that the original did not sell off the loan. These lenders keep their loans in their asset portfolio as an investment.

Lenders who portfolio their loans have total discretion over how, when and why they would modify a loan. My experience is that these lenders have the ability to be the most creative and flexible when it comes to loan modification.

Many of the private mortgages made as sub-prime loans were securitized and sold in big bundles as mortgage backed securities. The payments on these mortgages are collected by a company called the Servicer. The conditions under which a servicer is allowed to modify a loan are covered in pooling and servicing agreements or servicing agreements. These agreements normally employ standards which are generally accepted practice. Some of the standard provisions require the loan servicer to follow accepted servicing practices and procedures as it would employ “in its good faith business judgment” and which are “normal and usual in its general mortgage servicing activities”.

Common practice guidance for mortgage loan servicers usually comes from the American Securitization Forum. The American Securitization Forum (ASF) acts as an independent organization that funds itself. The ASF operates as a forum of the Securities Industry and Financial Markets Association (SIFMA). The ASF membership is made up of issuers, rating agencies, financial intermediaries, guarantors, law firms, and accounting firms.

Recent conditions in the mortgage market have necessitated guidance for loan modifications from the ASF. The ASF has issued guidance that dictates a case by case evaluation of loan modifications. They divide borrowers interested in loan modification into 3 different segments.


Borrowers who are deemed to be “eligible to refinance into other products,” are in Segment 1, unfortunately these borrowers are out of luck. If you have a FICO over 660, and/or owe less than 97 percent of the value of your home and your payments are current you are in this group


These borrowers are on the “fast track”. If your FICO is less than 660, and/or your LTV is higher than 97 percent you are in this group.

Fast track means that the servicer may modify your loan with minimal qualification work based on the following:

The borrower is deemed to be able to pay under the loan modification based on his or her current payment history prior to the reset date.
The borrower has expressed a willingness to pay under the loan modification, as evidenced by a signed loan modification agreement.
The borrower will be able to pay under the original loan terms.
The loan modification must maximize the present value of asset recoveries to the securitization trust and is in the best interests of investors.

This is the bottom tier, not eligible for fast track, but still able to get a conventional loan modification. This is by far the largest group of borrowers in need of a loan modification. If your FICO is less than 660, and/or your LTV is lower than 97 percent you are in this group.

· The borrower has a fixed rate loan but has had a hardship causing them to be unable to maintain current payments.
· The loan is a sub-prime loan with a high interest rate unsustainable for the loan term
· The loan modification must maximize the present value of asset recoveries to the securitization trust and is in the best interests of investors.

There you have it!

If you read the last line in segment 2 and 3 you get the “lenders point of view”. NEVER FORGET when you are negotiating with your lender, they are not out for your best interest; they are only interested in getting as much out of you as possible.

All lenders are working to maximize the return on their investment – your mortgage. If you understand that then you are ready to begin negotiation a loan modification on your own.

Why Do Lenders Prefer A Loan Modification Over A Foreclosure?
Lenders are known to be difficult when it comes to loan modifications. But did you know that they benefit at least as much from the process as you do? The main reason they balk at mortgage modification is that they have to train agents to handle them, and each case requires individual attention. But it also saves them a good deal of time compared to foreclosure, and may even have a few long-term benefits. Here are some good reasons why your lender might prefer a loan modification over a foreclosure.

It?s faster and cheaper. In a foreclosure, there are specific wait times that allow the borrower to get current with their mortgage. It?s not uncommon for the process to drag on for almost a year. These delays can cost your lender a good deal of money. A loan modification, on the other hand, takes an average of 30 to 60 days. All they have to do is go over your documents, talk to your loan modification attorney, and see if you qualify. The negotiations are the hardest part, but they don?t cost quite as much as foreclosure expensesIt?s less work. To start the foreclosure process, your lender will have to assess late charges, file a Notice of Default, pay heavy lawyer fees, and arrange an auction to sell your home. And if you manage to get back on track and stop foreclosure, all the work simply gets filed away. Loan modifications involve less work on their part. You and your loan modification attorney will do most of the work and provide most of the documentation. Often, all they have to do is assess your case and decide what kind of mortgage assistance you will need.

It helps keep investors. Foreclosures are as damaging to your lender as they are to you. It may benefit them for now, but with the recent housing bubble, it will eventually weigh them down. Investors don?t want to deal with banks that have too many foreclosures on record. If they grant you a loan modification instead, your payments will keep showing up on their records instead of being written as bad debt.

Of course, this doesn?t make it any easier to get what you want from your lender. After all, you?re still a liabilityand it?s important to prove that you can get back on your feet. To get the best loan modification deal, you need a good Loan Modification Lawyer who knows the what lenders need and can convince them that it?s the wiser choice to settle a loan modification.

Modifications are not overly difficult
The mortgage loan modification process is not a overly difficult one. The fact is lenders are very motivated to work with you. For lenders, a loan modification is the preferred solution to help troubled homeowners.

There are 6 key elements that the lender will look for when considering a Mortgage Loan Modification:

The factors they will look at are:

1. Hardship
2. Ability to pay
3. Amount Owed
4. Equity in the property
5. Future financial situation
6. Does it make more sense to have the borrower sell the home via a short sale.

A loan workout or loan modification generally occurs where the parties to a problem loan mutually agree to workout the problem by creating new and better loan terms. The hope is that the new loan will enable to the borrower to meet their obligations. Often times homeowners don?t want to or simply can?t do the loan modification themselves. They prefer to hire a professional to work with the lender to modify their loans for them. Increasingly, millions of borrowers are turning to ?Mortgage Loan Modification? specialists to provide this service for them. Learn how to become a mortgage loan modification specialist now.

155 thoughts on “Modification Secrets

  1. i've been trying to modifi my loan for almost a year and, i've still havent gotten any results. My loan is with chase and , all i get is the run around. I sent all the papers in and, i still havent received anything. Now im to the point where i cant pay my mortgage. So what am i to do? so chase do sucks big time in a bad way.

    • My question is what are the senators and congressman of our states doing. Chase and Bank of American are getting away with out following the processes and people in america are left hanging with promises of a modification never to receive. The banks have to answer to no one. BP started out that way. So America, let us put more pressure on the States Reps and Obama administration to get this fixed.

    • OMG! My story with Chase … we requested a loan modifiction almost two years ago due to an unexpected increase in my payment (to include escow $$$$) which followed by a reply of “you are not approved”! Then one year later I find 4closureFRAUD that has followed filing bankruptcy!

      Today… I get a letter in the mail stating I qualfiy for a remodification! OMG!

  2. 14 months of a loan mod attempt & still they want more !! What bullshit !

    I qualify & have sent them over 1000 pages of info, since I'm self employed I have to send bank statements, profit & loss statements, hardship letters, etc

    I've sent everything 7 or 8 times & I still haven't recieved my mod. I got a Temporary mod 6 months ago that I'm still paying hoping to get a real "modification"

    Only time will tell

  3. chase home loan is a hard company to deal with. try American Home Mortgage they will get u put out on the street. President Obama should have made it possible for every american to be modified or refinanced in this time of depression. it does not bother the president, see where he lives. I firmly think that this modification was not for african americans. U must have good credit a score of 620 or above. how many of us have that. all we are trying to do is get refinanced or modified so we can stay in our homes and the banks can continue to get paid. This obama plan really sucks''''''''

  4. same boat here!!!! self employed, sent my paper work in 6 times in the last 13 months & NOTHING YET!!!!!!! i swear they are waiting for us to be unable to pay & in the long run get our homes. THANKS for the help Obama…………

    • I believe that…I know where you are coming from…
      CHASE has been jerking us around for the last 13 months too..
      but they keep dening us “you did not send in the requried documents”
      I would like to see the “higher ups” at Chase to go through the same process with their company that they put “Harry Homeowner” through.

    • be aware that your “trial payment”, if it is less than your “regular payment”, makes your payment fall short every month, and though chase instructed you to make that smaller payment, at the same time it is marking your payments DELINQUENT every month you make that trial payment. And they assess late charges and attorney fees and junk fees to those delinquent payments and they report these to the credit bureau and wreck your credit, even if you never sent one late payment to Chase in the history of your loan.

      They tell the credit bureau but they don’t tell you. They don’t send you statements or a letter or in any way notify you that your trial payments are making you delinquent, ruining your credit AND costing you thousands of dollars in late fees and penalties, and all this time you are doing exactly what the Chase modification people tell you to do: Make timely “trial” payments.

      They jerked me around for TWO YEARS with my modification application, added more than $30,000 of “late fees: during those two years, late charges that would not have happened if they had told the truth about those “trial” payments.

      Then they use those late payments that they created, to deny your modification.

      Better make full payments while they have you fax the same documents over and over, do not pay only the “trial” payment. The trial payment is a trick.

  5. Twelve months now and Chase has not done a thing. I notified them when both my wife and I were out of work. We were current and not a day past due. I notified them and was hoping that they would modify my loan(s) before I got behind. I eventually fell behind for four months and they never made a move. I then entered into a forebereance agreement with them for three months.
    %loan to value. I already spent 3K on an attorney and they blew him off. I do not know if Obama knows what they are doing however he realy needs to get involved at this point. They are selelctively doing modifiations. This is not fair nor should it be legal. I think they need to be audited soon for discrimination. The are not practicing fair lending by any means. This site is great. If only I knew about this site before.

  6. 5 months working with NACA and Chase…documents sent twice a month for the first 3 months and weekly in month 4 just once so far in month 5. No results yet, no movement yet. Pay cut and fewer clients Q4 08 and continuing into 2010 just don't have the money to pay anymore. Have over 800 credit score, will begin taking hits on it for not paying the mortgage on a house that is worth less than 50% of what I bought it for. Paying the mortgage is like rearranging the deck chairs on the Titanic, what's the point? Really happy the presidents f-in focus is healthcare while the economy, housing and the "American Dream" all swirl around the bowl. I wonder what New Zealand is like?

    • I now your pain. When I started trying to get my Mod over two years ago my credit score was great now I don't even want to look. The Government wants us all to live in Government housing that way they have more control. I wish you luck I keep on fighting everyday.

  7. I tried to get one but they claim I don’t qualify and keep lying to me about what I need to do for a short sale. I hate Chase and I will never have an account with them again.

    • I am sorry and know how hard it is to deal with Chase. I hope you do not call there 800 number because that just makes it even worse. I am not a Real estate agent but, I would find one in your area. Before most of them had no idea how to handle short sells, now many have been threw them. Most Real estate agents our losing there own homes because of the market. Have you contacted the BBB and the OCC. Keep a log of everything you do and send to you. Good luck and keep fighting.

      • If you call the 800 number that Chase sends it will take you to an “off-shored” office located in India. I called to get help with my mortgage situation. “Joey” (taking an American name does NOT make us believe that you are located in the states) told me to go to the Chase website to check the mortgage modification informtation and to make sure I keep making my mortgage payments on time. This statement was made AFTER I’d explained that I was enduring a hardship and was having difficulty paying my mortgage. When I asked to speak to a supervisor, I was told there were none available. Nice help Chase. I wasn’t happy with Washington Mutual and am less thrilled with Chase. My job was off-shored to India, thus leaving me without an income. Chase apparently doesn’t care, since they are doing the same thing. Just worried about THEIR money but don’t care that they are one of the reasons why customers are in this situation in the first place.

        • Do not call there collection dept. Call Loss Mitigation (877) 838-1882 ext 52195. If that does not help email me and I will give you the number of the executive branch.

          • Can I have the number of the executive branch. This is my third time trying to have my loan modified.


          • Omg!!! Please someone help me I’m a single mother of two kids.
            I’m so stressed out I don’t want to end up homeless. Chase does not
            Want to help us either… A mod? What a freaken joke.. How
            Am I going to explain to my kids why we don’t have a home..
            Anyone please help me get help?

  8. I have been trying to modify my mortgage with JPMorgan Chase since April 28, 2009 and have had no luck. I was under-employed since March, 2008 and then got laid off in August, 2009. My monthly income to my monthly mortgage payment ratio is 89% and to qualify for the program your monthly mortgage payment must be higher that 31% of your monthly income – I clearly qualify by having a mortgage payment that is 58% than the required minimum of 31%. After 9+ months of contacting Chase and sending in updated paperwork they finally gave me a pathetic answer and denied my mortgage modification request because of the fact that I am unemployed thus “I do not have permanent hardship”. I was devastated. I had originally put down a $40,000 deposit when I bought my home in April, 2005 and had signed a fixed rate 30 year mortgage – so in my opinion I did everything right. Now Chase will not do the honorable thing and help me to modify my mortgage so I can be able to stay in my home. I have been maintaining my monthly mortgage payment by the use of my credit cards and have now gotten to a point where I have maxed out my credit cards and can no longer keep up with my mortgage payments. Here is my dilemma – I have been trying to do the right thing and pay my mortgage even though I could not afford it anymore. Now I cannot even sell my home for the amount of money that is owed on my existing mortgage which is $125K so I guess that I am going to be forced to go through foreclosure because Chase will not do the right thing and help me to modify my mortgage so that I can be able to stay in my home. I have kept detailed records regarding this matter and all of my attempts to contact Chase to ask for their assistance over the past 9+ months. I also have a huge file that I have kept all of my records of faxing documents to Chase, and I recently met with an organization called Central Florida Community Development Corp. – contact: Janice Thomas – whom is also trying to get through to Chase. So far they are giving her the same run around that they gave to me. It is just terrible that the only way to get Chase’s attention it seems is to stop paying my mortgage, and then maybe they will do the honorable thing and help me since I clearly qualify for the Make Homes Affordable Program and I have done everything in my power to do the right thing from the beginning. I can only afford to make one more mortgage payment by the use of my credit card and then I will have no choice but to get foreclosed on… Any advice would be greatly appreciated. I have contacted my local Channel 6 News and have an Investigative Reporter assigned to my case – but Chase won’t even respond to the Channel 6 News Professionals… Such bullshit. Sincerely, Krissy

    • The only way to get Chase to do anything is contact the BBB and the OCC at the same time, this will get you to the executive branch. Do not call there collection dept or take a call from them. It is a waste of time. I have had my case for over 2 years now with Chase. The good news for me, now it is just a game. If you need the website and phone numbers for both please email me.

      • Please email me any contact information that you have so I can go after Chase. After I made all of my Trial Payments and I even paid more, they put my home for Sale and I have been working with them for one year now but without results. This is the worst company ever. I will not even open a cheking account there. If you have any agencies that I can file complaints with, I will appreciate it, Thank you so much.

      • Hello,
        Can you please e-mail that information such as the website for me. I have been going through the same thing as you. Any information you can provide would be greatly appreciated.

  9. Dear Admin – thank you for all of your help. Can you please provide me with the e-mail and phone numbers for both the BBB and the OCC and I will get in touch with them as well to see if there is anything they can do to help. I looked at the OCC Website but I didn’t see an e-mail address listed – just an e-mail for general inquiries [email protected] and phone number to call from Monday through Friday from 7:00 a.m. to 7:00 p.m. of 1-800-613-6743. Also, for the BBB I found the contact phone of 1 (703) 276.0100 but no contact e-mail listed. Any information you can provide to help guide me to the right direction from this very frustrating point would be greatly appreciated. Thank you kindly for your time and help. Sincerely, Krissy


    should i be scared… or be scared?

    it took almost four years of back-and-forth/negotiations with WAMU/chase, an unnecessary bankruptcy [on the advice of a greedy bankruptcy attorney], and the help of a generous attorney?i know that’s an oxymoron?who took my case pro bono, to finally get a loan modification from chase.

    but for some reason, i’m not relieved.

    some history:
    i bought the house in october 2004 for $330k. even though i had a credit score of 800, a $42k/yr job, and put $80k down, i was told the only loan i qualified for was a 5-yr SMART ARM?in the heyday of the no down, no income verification loan! my loan originated with GMAC, which sold it to WAMU three months later.

    i contacted WAMU less than a year after i bought the house concerning a refi with no cash out in order to get out of the SMART ARM loan. they offered a new 30 yr. fixed at the current percentage rate with a payment double what i was currently making to WAMU. financially, i couldn’t do it and subsequently put the house on the market. it did not sell. i’ve tried to sell it twice since then?for as low as $128k?without a single offer. still, WAMU ignored my pleas for help.

    by december ’08, the principle of my loan?the only mortgage on the house?had gradually increased from $126k to $189k. i was told by WAMU that the only way they’d help me get out of my loan is to STOP PAYING my monthly mortgage payments. i’m sure everyone knows the story from here. threat of foreclosure, applying for a mod with hardship letter [since i now had a lower-paying job than when i applied for the original loan], credit rating ruined by their bad advice, etc., etc., etc.

    okay, so fast-forward to 2009-2010….

    proving my income to chase just to get considered for a loan mod was hell. i was working full time and had freelance income. my income was lacking by $200/mo. i took in a renter, made up the difference, and that got me approved for consideration and i entered the 3-month trial payment period.

    i made all payments on time, but in the third month of the trial period i lost my full-time job and my income took a $1600/mo. hit. when it came time to resubmit proof of income after the 3-mo. period, i did. i notified chase that i had lost my job and expressed fear that the loan mod would be rejected. the rep i spoke with on the phone told me that if i could get another job within 2 weeks, it should be okay.

    the last item i needed to file with chase was a 6-mo. profit and loss statement for my freelance work. i told chase i needed another 2 weeks to gather and compile all of the info. at week three, i still had not filed the p&l, and i still had not found another job. but then i received a loan mod approval letter!

    HOW could this happen? chase is denying loan mods to hundreds of homeowners more qualified than i on a daily basis! not only does chase know that i lost my job, my loan file is missing the necessary p&l, which means that chase has offered me a loan mod with NO PROOF OF INCOME!

    this is very disturbing. what’s up their sleeve? should i be frightened? should i ask them WHY they approved me? should i point out their very large financial blunder? is chase now consulting a ouija board when deciding who qualifies for a modification? it seems so.

    well, despite all that, i do not think it advisable to accept their terms which, even though it is a 2% 30-yr. fixed [kind of], it has a balloon payment of $30k, and the interest rate jumps to 5% at the end of the 1st year then increases yearly and resets in 5 years. their “modification” would increase the principle of my loan from $189k to $300k, which only is $30k less than i bought the house for in ’04. the house is worth about $100-$120k, according to a september ’09 market analysis done by a real estate broker.

    hmmm… how does that help me? maybe it will help in the first year, but since the value of the house was grossly inflated when i bought it [unbeknownst to me?yes, i was young and naive] i will NEVER be able to sell for anything CLOSE to what i will owe the bank in 2, 5, or even 10 years from now. i don’t need a ouija board to tell me that.

    so now, after four years of effort, i’m finally approved for a loan mod that’s not only twice the amount the house is worth, it is STILL a variable interest rate loan with a balloon payment due if i sell the house or at the end of the term. how can chase claim this is a modification? i guess a loan mod doesn’t necessarily mean a BETTER loan for the borrower!

    i would like to know if anyone else has had this type of strange experience with chase, and if so, what has the outcome been? what can i expect? even speculation would be helpful. i’ve read almost the entire site here and the majority of comments are from homeowners getting REJECTED by chase, having chase lose their paperwork, and generally getting the typical chase runaround.

    chase has never lost any of my paperwork during this mod process, or neglected to return my calls. quite the opposite! when it came time for me to sign and return the modified loan papers, i called chase and told them that my attorney was still reviewing the documents and that i would contact them soon. for the past two days i have received hand-delivered copies of the approval letter and modified documents, which were marked “confidential” and left on my doorstep.

    my attorney, who is based miles away in sacramento, has planned a conference call with me to chase on monday, march 15th to discuss their offer and request that the principal of my current loan be reduced [we know that’s a long shot]. if that does not work, we will request permission to do a short sale.

    any comments on this situation would be appreciated, as my ouija board only returns a, “do not know.”

    i wish good fortune to all of my fellow homeowners currently-or-about-to-be getting screwed by chase.

    santa maria, ca
    [per capita foreclosure leader of california]

  11. So what is a person to do? Is there no one out there who can help? With all that’s happening, how can I continue to live MY AMERICAN DREAM. Mr. President?

  12. I, too, have been trying to get a modification.(since 7-6-09) and have sent in all the lengthy paperwork required three times. Now when I call, I am put to the collections department. I hung up on the jackass last time I tried to get info. on my modification as he was rude and threatening, and he told me I would never be able to get through with modification department again, not until I have my payments current! Well, when I started this modification, I was current! And this is the funny part, I get a 5 page letter every couple of weeks saying “YOUR HOUSE IS YOUR HOME, WE WANT TO KEEP IT THAT WAY” Whoe do they think they are fooling? It’s a no wonder that we are outraged with Chase.

    • I get the same damn letter! I always get excited because I think (at least for a moment) that they have FINALLY reviewed my application for a loan modification, which was sent almost 8 months ago. However, it appears to be sent as a result of my sending my mortgage forbearance amount via Western Union on exactly the first of every month.

      Today, I received a very official looking LOAN MODIFICATION APPROVAL NOTICE. I was so happy and started to cry and even called my husband at work. He was also overcome with emotion. This was short-lived as I realized there was no mention of Chase Home Finance anywhere. This prompted a call to Chase. Of course, I was immediated transferred to the collection department. I explained to four people (provided each with the same name, phone, address, social security #, etc) before a woman cheerfully advised that their was no record of my application for modification OR any forbearance agreement!!! After I understandably LOST IT, she put me on hold and returned to the phone to advise that it was “in process” and I should simply “continue to make the monthly payment until they contacted me”. So I still know nothing.

      What I don’t get is why did Obama dictate that the banks should provide these modifications and leave no-one in charge of ensuring that they actually did so? Every month, we convince ourselves to wait a little longer but the fact of the matter is I could rent any number of houses in my neighborhood (probably bigger than my own) for one less than half of my current mortgage payment. And perhaps have enough money leftover to worry about my own health care. Total BS.

      • I the part about pay for your own health care. Our you making the temporary modification payments or your old payments. The Government we have is paid and owned buy the large banks so if your looking for help there your not going to get it. The O.C.C is useless talk with Chase today and they told me they where still working on my file to send to the O.C.C. The O.C.C rules are to have the issues fixed within 60 days. People over two years. Keep up the fight because that is what it is. I also have a signed contract with Chase had to fax that to them today. The person I talked to could not believe it. Good luck

    • 866-234-1243 ext 3225515 Huma Shera underwriter. She got to me as my fourth underwriter after 8 months and did something, although I dont agree with it now. She can help.

  13. It took me one year, and I finally had my loan with chase permanently modified in November 2009. Then I made my monthly payments, they cashed them, but told me they didn’t receive them. For four months they cashed my checks, and sent me letters that they didn’t get the money. Speaking to them on the phone was useless, each person said that they can “see” my payments in the computer, but couldn’t tell me why they weren’t applied to my account. I then got a forclosure notice in the mail, I called and screamed at them, telling them I didn’t have this much trouble when i didn’t pay my mortgage. I demanded to talk to a supervisor who was finally able to fix the problem. They need to give you one person to deal with, so you don’t get the run around over and over again. My mortgage is modified, taking almost $600 a month off…so don’t stop trying, it is possible to get it done, I’m living proof!!!

    • Am going through the same problem, first I received my final loan modification documnets, I signed notarized and fed-ex back to them made about 3 payments when I got a letter statimg that my file was closed. Called Loss Litigation only to be told something was wrong with the paper work and I had to start all over again. Which I did but this time I was denied reason NPV contacted the executive office she investigated only to tell me that the investors would not accept the loan modfication because I applied all over again. And now she suggests that I re-applied this has been going on for the past 2.5 years am so tired that I think they need to be sued for raising our hopes with the loan modification only to dash it. Some of the people at the loss litigation have no clue what they are doing. It is a joke. Chase SUCKS

  14. I am in the same boat as many of you it has been a year and i have gotten nowhere with this whole modification thing. All they do is ask for more money. I actually had to borrow money to give them a down payment for a mod and they later denied me. Yet again they are asking for more money and promising to lower my mortgage payment but nothing has happened as of yet. They have told me i was denied for lack of communication yet i have faxed and mailed via usps all paperwork they requested. I have been told i have missed payments while in forbarence yet i have receipts from my cashiers checks that chase cashed. I have made every forbarence payment and now they are telling me i am on the verge of going into forclosure they have now made my mortgage higher than it was before. This companies does suck and will kick you when you are down.

  15. Also, currently going through a Loan Modification down here in Miami. However, i am using an attorney who has gotten LM to others we know. She is aggresive and I hope she will do. I been a victim of LM last year with Lincoln Leading and lost about $1800 dollars. Meantime Chase keeps calling me on a daily basis from the collection dept. Does not matter if I refer them to my attorney, usally tell me they don’t see it on there computer screen that I am going through LM. That’s because it’s always a different kid calling me. They try to find out each time what the problem is that I can’t make the payments. I tell them that I will not repeat my hardship story and I refer to my attorney, she has all the facts and is dealing with there LM dept. They hear that but don’t listen and keep asking me stupid questions, that I believe, they are required to read from a card on their desk. Then they tell me about the Chase LM program. Greed is what Chase is all about. Oh yeah, and having kids run the shop with a dummy card in front of them. So they sound smart when the recorded call is later heard by a supervisor doing their evaluation for a pay raise.

  16. Reading these comments is to say in the least discouraging. We began this modification process just one month ago and today in the mail comes a letter that I think will be the answer. Instead it reads like a letter that should have been what we would have gotton first. They ask me for everything one document after another that I spent 3 weeks gathering up making copies of and finally sending to them. Short history. Last Novemeber I became ill at work. I am a nurse and thought I was having a stroke. Good news is I did not have a stroke but while in the hospital my Dr. decided to change one of my medications. 10 days later I was at deaths door. I had an allergic reaction to the med,and caused me to go into multi organ failure including a psuedo nervous break down. To say the least in the twinkle of an eye my life changed. The Dr.’s (there were many)still will not let me work even tho I have recovered. Then the day after my official resignation from my job my husband’s company announced they would be closing March 31st. To top it all off our adult daughter had to move back home because she is unnable to work due to severe migraine headaches. Much Much more to her story but the short of it all is this we have no income my husband is 59 years old can’t get a job, I can’t work and now we are resposible for our daughter. Hardship?you bet and I not only have told Chase all of this but sent documentation from everybody I could think of backing up my story. We needed modification months ago and after reading all of the comments on this site I am very afraid my modificatin is not to be had. Wish me luck. Let me also say this. I know that God knows all of this ,He knew it before the beginning of time. He will make all of the modifications I need. It was His to begin with He gave me everything I have and if He sees fit to take it back then so be it but my God is a giving God and He want take it away without replacing it. Does that mean I sit back and do nothing? no He means for us to help ourselves but He is the one and only true God and His answer is finale. I can hardly wait to see what miricle He perofrms. For those of us who are His children He does’t like it when His children are cheated just like we don’t like when our children are mistreated. Sometimes we have to step in and sometimes with watchful eyes we have to send our children back in to tkae up for themselves but one way or the other right will always prevail. God bless and help us all and Chase you best better be doing right and treating your people honestly otherwise one day (and I thnk soon) you will pay. Eternity is along time!!!

  17. I am going through the same thing with chase finance. I have applied for 2 modifications, they just denied me for the second time. Now they want me to do it again. I talked with an outside supposedly modification lawyer. he stated to me they will continue to send modification apps so when you dont get anything or u try and take them to court. they can say they did their part and show how many times they sent the appication. I am really devistated right now. I don’t know which way to turn. just know I dont want to lose my home. and I can’t afford the mortgage amount I have now. but I will contact the bbb and do the steps I gotten from the pannel and see what happens.

  18. I haven’t made a payment in over 14 mo’s myself and I decided to use an outside source to getthis mod done and all I keep getting is the same thing I am reading here over and over again. U.S. MORTGAGE LENDERS in Bocca FL is helping me and every time I think I am going to get that call or letter that changes everything for me, They need me to send them a copy of something else. Only good thing so far is that U.S. has not asked for any more than what I was quoted to pay for help and Chase has been leaVING ME ALONE AS WELL FOR THE MOST PART. what a crock of shit !!!! glad to know that I ‘m not in this TITANIC sized ship alone!!!!!!!!!!!!!!

  19. Despite the fact we have been trying to get a restructure accomplished for 2 years w/Chase, I still (maybe) a little niavely, believe this is America, and sooner or later, justice will prevail! It’s obviouse that they couldn’t really lose the docs that many times, so they’re just not dealing in good faith ! When corporations deal in bad faith, especially ones that have taken money from the goverment and promised to help homeowners, they are breaking the law, and I have had enough!!! I was successful in a class action lawsuit against one of the biggest banks in the world, a few years ago, and nobody thought we had a chance. It took 2 years of depositions and gathering of info, but they paid! Because they knew they were wrong all along. Same situation here, if any body is interested, enail me. Mike @ [email protected];.com. This is no BS, so don;t try selling me something.

  20. Here are some Direct numbers for you to bug the piss out of underwriters and their bosses at Chase ohio.

    Huma Shera – Underwriter, Actually a good person. She does her Job – 866-234-1243 ext 3225515 / 866-424-5326 FAX
    Chris Gibson – Her Boss – 614-422-0953
    Curt lapersky – Her boss – 614-422-2686
    Executive resolutions – 800-848-9136 or 888-310-7995 / 866-282-5682 FAX
    Loss Mitigation – 800-437-4892
    mod dept? – 8?? 374-8898

    I dont care what they think, they deserve a million calls a day for what they have been doing to me. Bombs away. Ive been at this a while obviously.

    • Are any of these numbers better then the others? I have been dealing with Executive Resolutions after the complaint I filed with O.C.C. but I am getting nowhere. Now they are starting me on my fifth round of trial periods and there is no end in sight.

      • ex resolution get a lawyer. Mr Lehman or Ashley Hall or Jo or any of them could give two shits about you and your probs. Thats what I got from them, so Now I got a lawyer.

  21. Our modification started Jan ’09 and we went thru the 6 month forbearance period. After that we got a letter our payment would increase 400 because the escrow account was negative. We filled out and sent modification papers OVER AND OVER AND OVER which they said they didn’t receive. After getting frustrated we tried to refinance with another bank and were told the house was in foreclosure which we had no knowledge of. When we finally did speak with someone they told us it was not in foreclosure. We have made all payments on time and continued to do so and when we called this past week to check on things we were told our foreclosure sale date was that very day. We called Chase’s attorneys the next day Wilson and Assoc. and they said the house isn’t in foreclosure. Our last payment has not been cashed yet and we don’t know if we need to stop payment or not- one day we hear we are 19 months behind and the next they have been receiving our payments. If anybody is filing a class action lawsuit or wants to please contact me.

  22. Wow, I have been in the loan mod for 16 months. I have been told we were approved through Chase, bur recently denied through Freddie Mac. We have 23 acres and a double wide, and our credit is ruined because of the “9 months delinquency”, even though we haven’t missed a mod payment. We have 3 small kids and work until our fingers bleed. I am trying to refinance through local banks, but this trial mod has ruined us. I desperatly feel awful forr everyone in this situation. I am going to get out before they try and sell our house. Either the “repaymebt plan”, or try and get some equity out of our property to get caught up with chase…..and move on with our lives!

    • the reason for the nine months delinquency is that Chase tells you to make a mod trial payment but the bookkeepers at chase don’t consider them full payments and you are delinquent from that first trial payment onward. and then they add on late fees and lawyer fees and all of a sudden you are delinquent, credit ruined AND you owe Chase thousands of dollars in penalties, when you did what they told you to do and made every payment on time.

      then people end up in forclosure that never would have got there except for chase’s lies.

  23. I agree with all above. Chase is horrible to deal with. Our forerclosure is tomorrow. 2 payments and attorney fees. What a joke. I’d be interested in class action suit. Let’s get them.!!!!

  24. I agree with Steff. Chase has won. After 18 months of this I can’t take it anymore. We will find a way to pay back what they say we owe to bring the account current and just move on. I have never been involved with anything so corrupt and anything so sad. They have practically ruined our lives.

    • The Class Actions are just starting. Don’t give up yet. You have hung in 18 months, I have hung on three years and still have hope. We can do this together.

  25. I know of one small class action (only 3 plaintiffs) filed May 4, 2010, in US District Court, Eastern District Court of New York, by attorneys at Urban Justice Center in New York, NY. I’ve downloaded and printed the case filing. There are some good causes of action and claims. I’m planning on using some of the foreclosure defenses in that lawsuit should I need to file my own action against Chase.

  26. Chase is horrible. Class action??? Count me in. 18 months of this nightmare but I WILL win. I’ve contacted every poltican in MA, BBB, FTC, SIGTARP, Fed. Reserve, OCC, name it and I’ve submitted a complaint against Chase and Jamie Dimon himself. HAMP as well and it’s hopefully getting somewhere with them as Chase (Lee Rogers of the Chase Esc, Team) has also lied directly to them AND got caught.

    Class Action????? Let me know when!

    • After toeing the line with Chase Loss Mitigation for 7 months, two different cancelations due to late or no notification and endless paperwork I learned today that Chase has, in its Wisdom, decided I do not have enough hardship to qualify for a loan modification. Never mind the fact that our business has lost 70% of its revenue, that we have stopped taking any salary 8 months ago to keep the boat afloat, our P&L shows a loss of $37K in the first 5 months of 2010 and that I am taking cash out of savings to keep up payments (as advised by Chase), now things just aren’t bad enough for a loan mod.

      I provided personal banking records and business banking records. The balances in our business accounts are quite high, 7 figures, but that is not OUR money. These accounts reflect temporary balances as payments come in and then go out to our creditors; distrubutors and the like.

      Now I’m thinking I should just stop paying the mortgage. I hate, really hate to do that. But how else does one wake these guys up?

      Chase told me I could reapply. Should I even bother? My mortgage payment is >70% of our income, house loan is $495K, market value is $375 tops. We want to stay because we live in a beautiful spot on Hawaii and planned to stay forever but that may not be possible unless things get a lot worse, according to Chase.

  27. We have had the same problems with Chase and dealing with it over 16 monbths. We were even told we were approved for permanent modification and never receive anything and later told to resubmit.
    Last month the loan was sold to another servicer. Is this good or bad? Very confussed. Anyone experience this? Please help!!!

  28. I have been in Chase nightmare since April 2008. Ironically, looking at the ASF guidlines above I probably would not have qualified based on my FICO at the time all this started 2 years ago had Chase been on the ball, now however my FICO thanks to idiots at Chase it a whopping 560. So Chase won’t help but there is nowhere else to go with all the damage they have done to my credtit Although I haven’t missed a payment they have reported me as over 120 days late every single month for 25months. I am so tired of faxing the same documents over and over, lately I send duplicates with the notation: here is a second set to replace the first that you are going to lose walking from the fax machine to your desk.
    I have kept record of every communication for the past 2 years, the file is enormous and 90% of what I’ve been told would be laughable to anyone not having to deal with these morons. In August of 2009 Jaqueline in loss and mitigation so kindly told me the final thing they would be willing to do is give me a Warren Loan, gee thanks Jackie is that some new program I never heard of the Warren Loan but ok I’ll take it..turns out shes bit confused..its a FOREBEARANCE ding dong and by the way how nice of you considering 10 minutes ago Julio from your same department told me my house was sold in July of 2006. Great problem solved..I guess I owe you nothing.
    So here I sit another year later back on the merry go round of hell.
    I wish you all the best of luck, I have no answers.

  29. I am in the same situation. My trial period began in July 2009. After being denied, I am on my second trial. Are any of the situations above being handled by the homeowners or are attorneys involved to represent you. I ask because I don’t know if Chase handles cases better if attorneys are representing the borrowers. Any comments would be helpful.

  30. Thank you so much for starting this website! I just found it today.

    I’m glad to know that I’m not alone in my battle with Chase. They’ve run me round in circles with no response while dragging my credit score through the mud, which needs to be in good standing because of the nature of my job.

    Is anyone starting a class-action lawsuit? If so I would like to be involved!

  31. This is a nightmare everything I’m reading here is happening to us..we do not know what to do..I feel for everyone on this sight..I guess class action is the only resolve here..

  32. Run as fast as you can. I contacted Chase right away and submitted all of the paperwork. I was told that I would hear within 8-12 weeks, during this time I was making my payments. Five months later I finally got ahold of someone who told me my modification was denied 3 months prior. Then she proceeded to tell me sometimes they don’t notify people and that they weren’t required to. After talking to several reps and depts over the next coupleof weeks, I was told they would not even consider helping me until I didn’t make house payments for 7 months. At exactly 7 months after I didn’t make payments I received a auction notice. Found out Chase received money from the govt for leaving me alone for 7 months. Once again I contacted Chase and submitted ALL of my paperwork again. After hearing so many horror stories, I chose to move my family to a rental as they are hard to find in our immediate area. Our auction date came and the house sold, the very next day they had locked us out and stolen several of our items. Luckily, we were able to get in the garage to retrieve several of our family photos. I have never received anything from Chase, except a week after they sold our house we received a letter from Chase saying they would like to try to work with us and that they had reviewed our paperwork. We didn’t even own the house anymore. All we asked for was a lower interest rate for a 315,000 loan, instead they chose to sell it for under 200,000. The games the banks are playing are obvious, they are collecting money from people for time and they are still forclosing on people after they suck every last dime out of the same PEOPLE who created them and CHASE is the worse!!!!!

  33. CHASE Home Loan Modification was approved-I now have paid 14 months of consecutive on-time payments and YET on my credit6 report CHASE shows me as a “delinquent account.” They’re the worst out there..sign me up for the class action suit

  34. All chase can seem to do is to deny me for a mod for one reason or “another. My most recent denial is due to my “debt to income ratio” is too high and i have been told to reapply for the 3rd time once i file my bankruptcy. I am almost positive that once my debt is erased with the BK, chase will say i have too much money and deny me yet again. I am working with a HUD counselor each time. I have a 5-year variable option arm that was not fully explained to me when it was sold and when it resets, as the paperwork states it will, next month my payment will more than double and i will quit paying anything. i hate to see this bank take my home but i cant pay $3000/month for a house that has lost 150,000 in value. I have employment and could pay a 30 year fixed rate even at 5% but they will not refinance my loan and i cant keep this house with this “liar loan” i applaud those homeowners who have “trashed” their homes on their way out……..hell, if they have their homes “stolen” out from under them, at least the “thief” isnt getting the house in good condition!!!!!!!!!!!!!! and this bank deserves that!

  35. What do I do now, I’ve sent in my paperwork several times. To only find out that it is only good for 60 days. I was assured that as long as I was in contact with them and sent them $$$ on a regular basis I would still be considered for a modification. And Oh to my surprize I got a letter in the mail this weekend they stating that “Due to the stautus of my account they are unable to accept funds and returned my certified check!!!!!

    • People:
      If you make your payments to Chase via Western Union, you not only have a receipt that you SENT the money, you have a receipt that Chase RECEIVED the money.

      Chase has a special address registered with Western Union for them to send mortgage payments to.

      I sent ALL 11 of my “trial payments” this way, and when someone at Chase told me they had not received payments from me, I was able to calmly tell her that I had PROOF not only that I sent the payments and that Chase had received the funds the very same day (another nice feature of Western Union). So no late or “missing” payments, at least none that Chase could (fraudulently, as usual) claim they didn’t receive, or didn’t receive on time.

      I used to make my mortgage payments in cash at a Chase bank branch, but they did not let me do this for the modification trial payments. It did cost money – my fee was $13 each month, but I knew each time that my payment got credited THAT DAY and it wasn’t just my word against Chase’s lying word, so it was worth that money.

      I have a couple ideas how we could help each other.

      ONE if a military family loses their home, they should immediately contact their state AND federal senators and congressmen, as well as their state’s attorney general. Also local newspapers and news shows, especially the reporters known to get involved when someone (like Chase) acts up especially disgracefully. I think that screwing over the families of the people who daily risk their lives for their country will anger a LOT of people who otherwise might not care that much. It is just outrageous. The families in this situation may not care for publicity and loss of privacy, but I for one would be willing to call MY state congress people and attorney general whenever this happens and try to get it on the news, no matter what state the military family is in. And if we all agreed to do so, or at least someone in each state, it could stir up a lot of feeling against Chase. This country needs to learn what Chase is doing to people – they’re stealing our homes. My house doesn’t have a lot of equity but it does have a little, and since I am older, retired, disabled and credit ruined by Chase, if I lose my home I cannot get another one, so I will fight to the end. Sometimes I wish I did have one of those houses that are worth less than the mortgage, so it would be easier to just walk away and let Chase deal with it. But many houses will eventually be worth more, and then all these houses Chase stole during these hard times will make them even richer.

      Please contact politicians and the media and show what Chase is doing. They need to hear this from a lot of voices, and for every one of us, there are many more this is happening to, who think they are alone. I don’t want to interfere with the privacy of the people who have posted here, but the more that is known the evil and heartbreaking things chase is doing to people, the better our chances are.

      • I sent “trial payments” Nov 2009, Dec 2009, Jan 2010 and Chase said they received them, but they do not show up on loan modification agreements – over $3300. April 2010 when I said I would accept the agreement – but I wanted to know where the trial money was applied or where it was, the agreement was not followed through. They allowed me to re-apply and then Dec 2010 they offered me a loan modification which blank sections and openended agreements including their ability to reamoratize at just about any time, they still did not show where the $3300 went. On the phone they say that the money is in a suspense account – which is not paid interest – and they decide what happens to it apparently. I have proof that I sent it and they admit they received it…..

  36. the american nightmare for all of us. do not give up, keep trying, keep praying.

    two non-profit organizations who will consult with chase on your behalf

    money management international 1-800-308-2227
    nationl community reinvestment coalition

  37. We have been going through this for 24 months. I have written several hardship letters, filled our numerous forms, copied and faxed tax returns, bank statements, utility bills just to name a few. I have spoken to over one hundred people who all seem to have my best interest at heart. I have been transferred to EVERY department, ‘Way forward’, Loss mitigation, underwriting, some sort of escalation dept. and more. All of this while not missing a payment. My last attempt has us in The Executive office and as of last week our assigned case worker tells us he can’t tell us WHY it is not being modified. How’s that for an answer. This has taken a toll on my husband and me. My husband had a heart attack in Dec. of 2006, had more heart surgery in 2007 and 2008, began this WONDERFUL modification process in Dec. of 2008, lost his job in August of 2009 after 20 years with the same company. I think Chase knows exactly what they are doing to people. They have all the money and they can wait it out. Because of all of this, we are both on antidepressants and don’t know how much more we can take. Believe me, it helps just to know we are not alone. How can Chase be allowed to destroy people’s lives in this way? Needless to say our credit is ruined and we cannot buy another home. We now owe more on our home than what it is worth. I have spoken to a lawyer friend of mine and he tell us that when this all over and done with people will go to jail. This is illegal and they will not get away with it. I may not live to see it but I hope some of you do. Thanks so much for this site.

  38. I got the run around from Chase too. They set me up to fill out apps programs that I would not have a chance of qualifying for and they should have known that (as my loan wasn’t backed by Fannie/Freddie). Finally I called the number @ talked to a consoler who advised me of the programs available. We did a 3 way call and got more done on this that my previous 4 months of trying. She must have had a direct line to the HOPO (home ownership preservation office) because we got through right away and while I was on the phone the rep from Chase emailed me the packet of info for me to fax back. I filled out everything and emailed it back to them the next day. (They said email is MUCH MUCH faster then fax or fedex, it’s allows them to do it all electronically.) About 2 weeks later got a call back saying that I forgot to fill our portions of the forms (they were right) it was a simple mistake on my part. I completed those missing parts and emailed it again. Called again a few days later and they have it all in the system and it’s making it’s way to the next step (Whatever that is.)

    Since working through the process has been much smoother. Now we’ll see what happens next.

    I attribute the previous problems I had to not working with the right people and training or lack thereof. I doubt they have an evil master plan to screw everyone. Worst case is they just don’t care. This has got to be a huge headache for them… to make sure they don’t give an adjustment to someone who really doesn’t need it… it really is a case by case basis. What a pain that would be… Dont’ get me wrong I was pretty frustrated with the calls to them for help and the dropped transfers only to have to start again at the beginning of my request! Drove me nuts.

  39. I would appreciate any information I can get to help US. I feel as if chase has discriminated against me and my family because WE ARE MILITARY. My late Husband was in the Navy for 13 years. He had passed away in 2004. My Son joined the Navy to follow in his dads footsteps. I feared if something happened to me that my children would not get the house, so my son and I refinanced to get his name put on the deed. 4 months later, I feel behind 1 month on my payment due to the death of my grandson. I had called chase to see if I could put 1 payment on the end of my loan to which they stated I was not delinquent yet and they could not help me. That is when everything went to heck in a hand basket!
    I wanted to make the next months payment when chase informed me I was a month behind and unless I made an additional payment I would remain a month behind. Chase gave me the advice to try to do a modification. I started a modification in June 2008. I spent numerous hours on the phone trying to locate the correct department to talk to. My Son was deployed to Iraq to help assist in the war.
    I was finally put in touch with a Tonya Richardson in May 2009. In Aug 2009 I was notified that the Deed of Trust had been changed and the house was up for sale, to sale on Sep. 30, 2009. I contacted Tonya and she made some calls then called me back to inform me that Chase could not sell while I was doing the modification. I had stated that Chase could not foreclose on our home due to the Soldier Sailor Relief Act. Which Chase had their attorney call me to let me know that if I decided to use the Soldier Sailor Relief Act I would have 90 days after my Son became state side to pay off the entire balance of our home.
    I made 6 partial payments at the request of Chase and was led to believe we were still doing the modification. I married and my current husband is in the Army. I received the modification paper work on July 29, 2010. It stated I was short in my escrow and I needed to pay $833.75. I sent a check, FedEx Aug 2, 2010. I made 4 phone calls to Tonya Richardson in Aug, 7 in Sept, 5 in Oct, in addition to calling the 8 & 9 of Nov 2010. I could never get a hold of her so I took it upon myself to call and talk to anyone I could. You could of knocked me over with a feather when a gentlemen told me today (9th Nov. 2010) that my house was sold on the 3rd Nov. 2010. I never received any paperwork stating that they were no longer interested in completing the modification, AND NO NOTIFICATION OF ANY KIND THAT MY HOME WAS GOING UP FOR SELL OR HAD SOLD. If I had not called and kept checking up on the status of the modification I WOULD HAVE NEVER KNOW IT WAS SOLD!!!!
    Keeping the house has been my families focus for the past year and a half. How the heck can they do that? My late husband died in that house, there were children born in that house, that is not just a house to us, ITS OUR HOME.

  40. i have been sending all the documents for 6 month and chase still asking for the same paper that i already sent i don’t know why aske me again for the same paper if i sent already it sucks

  41. uh oh!!! I’ve just started this mess,I’ve documented all my stuff and copies, these stories give me a gut feeling I’m sure everyone knows this,count me in on a class action.Well i just became disabled and now have a fixed income please give advise,thanks to all who has written I did see one positive outcome I’m not sure if thats a very good average.I did talk to a lady that sounds familiar with the comments she said they have 900,000.00 modifications so is this just a few less unfortunates,i’ll try to keep this updated,pray for me,I hope I made some since to much to cover good luck to all

  42. 2 1/2 years of the process, 1 year of trial payments and a final loan modification that was approved and then canceled after making the first months payment for non-receipt of information Chase didn’t require or request! Now I’m told that I can’t reapply and have a foreclosure date of December 21, 2010. Thank you for all of the contact names, phone numbers and email addresses because I have just emailed everyone and copied my local congresspeople. Someone has got to stop this nonsense!

    • Amber, Are you out there? What happened to your home? Did they foreclose? If no contact your attorney general immediately. Fill out their forms and tell them it’s urgent. I saw results withing 10 days.
      I’m not done with the process, but they did take my house off the market.

  43. After purchasing our home – I quit to stay home and raise our grandchild. So, we lost my pretty good income. Dec ’09 we missed one payment because (Chase) told us we couldn’t modify our loan unless we were one payment behind. I also want to mention pricing on houses dropped BIG by then and we were up-side-down in our loan by about $50k. In Jan ’10 we started our journey on modification – Fannie Mae loan. We were TOLD NOT to make a payment until they contacted us. All in all, only two payments were not made.

    The people we dealt with all had fake names, we’re sure. We’d call a million times and never could get through to anyone except customer service. We’d ask for our person we were assigned to and half the time they said there was no one there by that name, or they didn’t have a extension number for him – or other such things. Like we were calling a land that didn’t really exist – maybe it existed in the Pale.

    Just like everyone else – we kept doing the trial payments – three months at a time. They asked for paperwork a minimum of three times – not the nightmare some people experienced. During this time, our house flooded, the entire downstairs had 3 feet of water – so another $15,000 thrown out to live in our house and make it sanitary.

    FINALLY, they gave us the paperwork to sign, finalizing the modification. To our surprise, they ended up lowering the interest rate, which was good and lowering our payment to $400 less that original payments. BUT, they added $35,000 to the loan amount! All these $2800 payments we made every month – where did that money go? They claimed the $35,000 was for interest they lost? We NEVER got a final breakdown of how monies were applied. NEVER got to speak to a person and we were afraid to let this just keep going and if we didn’t sign – what would happen!

    We made one payment on the new plan and we then get paperwork they sold our loan. Our loan was originally (down to) $320,000 – and only worth $265,000. NOW they added $35k = $353,000 owed and NOW our house is only worth $245,000 AND we’ve had a flood and we’ll have to reveal that, and we figure at this point we are $134,000 up-side-down. To top it off – our new loan company increased our payments to cover no escrow money – and our payment is back to almost the original amount!

    I don’t think there is anything we can do – but Chase definitely did us wrong. They sucked every dime out of us and walked away. AND, I know they are getting money from the government. We’d get an attorney to look into this – but I think it’s a lost cause.

  44. Has anyone heard of this new Obama Hamp 2010 its a new ????,please comment,Chase has now asked me for bank statement that hasnt processed yet,I’m going to go ahead and file a claim against them.

    • Go to: – We are in the same boat as most everyone else I guess. It’s very sad, but at the same time, it is actually somewhat comforting knowing that you are not alone in this “Chase Mess”. We all have to pull together now and put the pressure on Chase. I am planning to contact the White House. I will pledge to flood the President @ or by calling 202-456-1111 or 202-456-1414 and/or by faxing to: 202-456-2461 . Please join my in our crusade to save our homes and our families. The amount of stress this has caused to our family so far has been unbearable for the most part. Stay strong, have faith, stay TOGETHER. PLEASE CONTACT THE PRESIDENT, daily if necessary. If we ALL do this he WILL get the message! Flood the White House with our “Issue” and plead for immediate help! Good luck to all & God Bless us too~

  45. We missed our first payment over a year ago and have made some missed some. This is our fourth payment missed. I am so glad I found this site to see the hoops they have made people jump through. I’m not doing it. They make a reduction or they don’t. If they want the house it is theirs. Unfortunately the person I bought it from made a lot of cosmetic repairs which I have been trying to fix thus being one reason we fell behind. A class action suit would be easy for them. Imagine if 500 or 1000 maybe 10,000 people went and filed individual claims tomorrow. That would kill them. My heart and prayers go out to each and everyone of you. The media makes it sound like the administration is bending over backwards to deal with this problem, but you all know the truth. In some ways we deserve this as we elected a man to lead this country in which no one knew anything about him. We have drifted away from out founding fathers intentions and we are paying for it, some more then others. It’s time to learn the little tricks to use in court to stop the foreclosure and bye time. I would rather spend my time doing that then jumping through hoops which seems to most of you to have been a waste of time. May God Bless all of you and for some peace of mind search Him out and ask for His comfort, it will ease the pain.

  46. My mortgage was originally with WAMU when I started my modification. This took roughly 8 months and then Chase took over myaccount and I had to start all over again. I made my modified payment on time and after another 4 months I finall received the papers to sign with our new modified agreement. That was 4/16/10 when they wer notarized. In August we received a letter stating they were not honoring our arragement because we had failed to return the papers. Yet they continued to cash the payments. When I contacted Chase they said the papers were a day late so I had to start the process over again.So I did and shortly afterwards we received an expedited intent to foreclose letter. I called Chase again and found a woman who said she would take care of it, continue to make the modified payments and they would honor the original loan modification. The next week I received intent to foreclose papers. Yet another call to Chase where they said it was a mistake and they will honor the original loan modification. Several days later I received foreclosure papers. Back to calling Chase where I received the same message. Three days later I received a sale date for my house. Now I’m mad, just down right mad. I contacted a lawyer and the Attorney General for the State. The Attorney General sent a letter to Chase giving them 10 days to come up with a plan of action. On day 8 we were assigned an executive, day 9 assigned a different executive to handle our account. On day 12 I received a call from the executive and we discussed my account and I told him how I’ve been treated from some of the reps. that answer the phone. He called me 3 days later to tell me my loan modification has been honored,the bank signedthe papers and the foreclosure date closed. It’s been two weeks now and yesterday I received intent to foreclose papers and today registered letters of intent to foreclose. I called Chase and they said the computer must have automatically generated the letters but I’m feeling I’m back to square one. I have contacted a lawyer again and the Attorney Generals Office to re-open my case.

    If you are looking for resolution contact your Attorney Generals office, they can file a formal complaint against Chase with the FCC.