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Chase Mortgage / chase housing assisting department complaints - loan modification requests

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I have been trying to work on a loan modification with Chase mortgage for over 120 days. I was finally told that I made too much money to modify the loan. I have had so many issues with these people and each time I think I am getting somewhere, the next time I call I must start over each time. We are not behind and have been borrowing money to stay afloat and to keep things in order. I was told that a loan modification would be best for our situation because the lack of income, however, they stated that because of the assistance I have received and the fact that I am not behind, that they believed we should keep making the payments.

Just as we think we are in the clear then we are struggling again, Taxes in the State of Indiana are behind by three years and I have told the bank that we wanted to start an escrow to ease the pain of paying the two payments, however, I don't make enough to qualify for the bank to handle the payments, however, I would be able to do both if this darn bank was to modify our loan, decrease the interest rate and include the escrow. I know, you're probably saying, if my credit was better, then I should have gotten a better interest rate. Unforetunately, when you are self-employed you must suffer the pain of higher interest rates despite the fact your credit is perfect (high 800). We were told that we were at high risk for working for ourselves, which cracks me up, because when you work for yourself for the past 10 years and you are 100% commission, you either work or you starve. You see they think because you have a job and you are an employee, you are guaranteed on income... wow, aren't they wrong, considering that a large amount of employees (around $875, 000) have been laid off since our economy has tank. Now is just me or are these banks trying to cut off the hand that feeds them. Really, what is the objective, please someone educate me!

We are a family of nine and only my wife currently works because of a disability that I suffer from which was caused by a military service connected injury. You would think that there was some help or a bit of consideration for the service I have dedicated to this country. Oh no, their underwriters only look at what is best for the bank and not their customers.

Thanks for the time and any help would work. I am working on a second request for the Loan Modification.

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Comments

  • Jg
      Nov 07, 2009

    I am interested in filing a formal compliant agaimst Chase Bank, formerly WAMU regarding their loan modification program. I have been waiting since 4-09, and I am at a point of now not paying my mortgage.
    If anyone can give me any infromation that will help, please let me know.

    [protected]@aol.com

    0 Votes
  • Ac
      Jan 06, 2010

    I applied on March 20, 2009 and I STILL have not received an answer. I ended up having to submit all of my information 3 TIMES!! The last time was August 2009. Finally spoke to one person who seemed to have a clue and told me the information was never passed on to the right department, but he personally would make sure this time it did. It finally did, it's been in underwriting ever since awaiting a decision. They said they did an appraisal on my house in Nov. 2009 and that it's normally a couple days after that they make a decision. Well, it's going on 2 months now, and every time I call they just tell me it's still in underwriting awaiting a decision, they don't know what's taking it so long.

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  • Uf
      Jan 06, 2010

    We also applied for loan modification in September 09 and was put on 3 month trail plan that lowered the payment by $100 a month, we made those payments as well as Decembers. But we are getting letters saying from Chase that we are 4 payments behind and now a notice of default. I went online to Chase.com and printed out our payment history showing payments made and received by Chase, I then called Chase to find out what was going on. The rather rude lady on the other end said your 4 months behind on payments I told her I printed out our payment history showing we made the payments. So I asked her can you tell me what you show for our last payment she said 12/30/09 and the time before that Nov 09, then Oct 09 well you get the picture. So with a stearn voice I asked then how are we 4 months behind and she said because those payments went into a suspence account ok I said so we are not behind on payments then and she said that money will not be credited to your account until the loan modification has been approved or disapproved. Which according to her could be another 2 or 3 months but heres the fun part since the money is held in the suspence account they veiw this as a none payment which put our house in default plus they reported this to the credit agencys. At this point I am considering some type of legal action all we were trying to do was to go from an 8% intrest down to the currant levels, we purchased this house in 07 for $379, 000 and we have a balance of 290, 00 our home value 199, 000. We are not tryin to get out of our loan just a better rate and now the house is in default this sucks.

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  • Ac
      Jan 07, 2010

    Wow, that is downright scary!! So it sounds like in ADDITION to making the modified payment, they expect you to make the OLD payments on top of it?? That is just ridiculous! And nothing against you by any means, but how in the heck did you get a decision by applying in Sept. when I applied in March and STILL have no decision? There have been a few other posts on here with situations just like yours. What a joke!!

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  • Sa
      Feb 08, 2010

    i too am a chase customer, i have been trying to remodify my loan since march of 2009, i too have the same scarry story. i call at least once a week, and have been getting the run around ever since, i have sent my business bank accounts and personal for 12 months and they make me sign the forms every month. they have forms to get my last 3 years of tax returns, i have faxed and mailed at least 400 pages of bank statement s and forms and NO ONE can tell me whats going on??? they just keep telling me to send the trial payments which by the way go to NOWHERE it dosen't go to any portion of my mortgage. they one day knocked on my neighbors door and asked to let them into my home while i was at work to appraise it and my neighbor let them in he thought i knew about this and no one ever called me or told me. SCARRY but true. i am at 8.75% on my mortgage and have been waiting over one year, for someone from the modification dept to help me, my last conversation yesterday this woman told me if i wasnt misssing documents i would have been done a long time ago, but the sad truth is i have given them EVERYTHING they asked for, they just keeping stringing me along and asking to redate forms etc, and now i am just digging deeper with them i am behing almost 60, 0000 dollars and i know i can never repay this.i am just paying rent until they forclose me and all the money i put into my home over the last 10 years i will never see again!i will be in on a suit!

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  • Ju
      Mar 12, 2010

    It amazes me that all of our stories are so similar. We started the loan mod process with Chase(then WAMU) in March 2009. We were going to try and refinance but were told there were no fees with loan mod and we shouldn't have a problem qualifying. the paperwork arrived on our door shortly thereafter. Filled the many forms out and sent it back very hopeful that our 8.22% interest rate could be lowered. Received packet back with new payment amount and we were thrilled since our payment went from $2700 to $1700. Finally we could breathe again! We made the first three payments as required and then made three more and in the meantime resubmitted the same paperwork numerous times. Where the paperwork went is still a mystery! After making six payments we received a call saying our income had risen by 27% so our payment had to go up. i still don't know where the increase came from. They put us on a new trial payment of $2160. Now we were getting very apprehensive because we also received a letter stating we were about $20, 000 behind. Where were all our payments going? I checked our credit and it has been destroyed. They are reporting that we are 10 months behind! We made every single payment they requested and gave them every piece of documentation they asked for but we are getting screwed! They finally sent us paperwork congratulating us for getting the loan modification but then we realized by the time they added in all we were behind because of them that our payment only dropped about $40 from our original payment of $2700. So our credit is ruined and we are in no better financial shape. We spoke with an attorney and decided to do a short sale on our home. It is currently listed and hopefully it will sell before Chase decides to foreclose. Our attorney advised us to stop making our payments which we have done. We already moved into a rental because we were afraid Chase would sell the house from under us. We can't believe our own US Govt is allowing these underhanded scams to go on. Someone needs to be made aware. I will be writing letters and seeking advice from our attorney. We never wanted charity-all we ever wanted was a rate that was fair, just 5% so we could actually have a life!

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  • Ja
      Oct 16, 2010

    Wow, that is sheer scary!! So it sounds equivalent in Improver to making the varied commerce, they look you to tidy the OLD payments on top of it?? That is honorable ridiculous! And null against you by any agency, but how in the heck did you get a option by applying in Sept. when I applied in Dominion and Noneffervescent love no conclusion? There feature been a few additional posts on here with situations fitting equivalent yours.
    ========
    [url=http://www.homemortgageloansonline.com]Buy To Let Mortgage Rates[/url]

    0 Votes
  • Th
      Jan 18, 2011

    Michael Bennet
    United State Senator of Colorado

    2300 15th St., Suite 450
    Denver, Colorado 80202


    Dear Senator,

    We hope you will be able to read this letter. We represent thousands of Colorado residents that have hope in The Affordable Homes Program. In theory, when President Obama explained the program, it sounded really hopeful in this economy. But we are not sure if these were just words or someone who is supposed to be implementing this program is not fulfilling their duties.

    Our case is one of many we hear about in which the program did not work. In July of 2009, we sent all of the required paperwork to the Program Making Home Affordable Chase Bank in order to take advantage of the program. Nothing was said to us as far as the timeline of when we would hear back with some sort of results. Since then, we have been on the phone with Chase Bank representatives (they call them specialists) with zero results. We get a different story each time.

    Last November (2009), finally someone told us that they have not received any of our documentation and there was no record in the bank….Right then and there she has arranged for a quick interview and said we qualified for the program. She has said that we were ready to enter a trial period of three months (we make 8 payments on time of trial Nov thru June #1) but we had to resubmit all of the paperwork that has already been previously submitted by us.
    On December of 2009, We received a letter said the our trail payment has not been received. We did paid by phone on December 10th, we kept receiving this type of letter and if you see we did paid on time all the trial period.(copies attached #2).
    We have kept calling every week or two to check on the status of the process with no resolution. In the meantime, they kept asking us for copies of our 2009 tax returns even thought they had a signed authorization to check with IRS. We have faxed those taxes at least 10 times to the Bank and each time we called to check with the bank and got confirmations of receipt from the people on the phone(copies attached #3).
    The time has passed by, we kept calling every week. In May 26th of 2010 we received a letter that we didn’t get in the program Home Affordable Modification because we didn’t provide them with the documents that there request in the time frame. (!!!)(????). (copies attached #4).
    Mr. Senator, you have no idea what the level of my family’s frustration is. We called again and spoke with another “ specialist” - Mike, who said that he doesn’t understand why the denial letter was received by us because he saw in his “system” we are in the program. That was very exciting. Mike made my day. Several days later, at the end of June, we finally got the contract.
    They were going to reduce our payment from $1064 to $818.82 The contract explained that for seven years, the payments were going to be fixed at $818.82 and subsequently would go up but not to the original level of payment.(No copies of the contract, we send the all package sign and we never received our copies back)
    We were telling our friends that the program works, and that it was worth keeping up communication with the Bank no matter how frustrating the process was. Each time I called, it took me up to an hour to get through to someone.
    On July 15th, The bank cashed the check of $ 818.82 that we send with the contract, the call a quick payment(copies attached #5) and they advised us that our “first payment” was to be August 5th. We signed the direct deposit for the new contract ($ 818.82) It was established in the contract.
    We kept calling the entire time to check on the contract status as we never received a copy of the new contract from the bank. Each time we called, we were told, we were approved: “please do not worry about this, you are in the program” now your first payment is going to be September 5th.
    The problem arose when our funds were not taken out of our account for the mortgage payment ($ 818.82).
    October 1st, no money was taken out either, we called and checked - once again were told: “no worries”.
    On September 7th there was an envelope received by us - turned out, Mr. Senator, there was a same contract with different numbers (copies attached #6). Now our payments were going to go up from $1068.66 (original payment) to $1071. We called once again; they told us that there was a mistake in their “system”. We call Chase and asked whether we had a choice, they said no. What a joke!( Our economic situation was and still the same) We didn’t sign the second contract.
    Chase kept sending us bills for $1067.99 (the trial amount), each time we paid on time November, December (copies attached #7).
    On December 9th of 2010, the day of our 32nd wedding anniversary, we got 8 certified letters and others 8 letters in the regular mail (copies attached #8), said that we were in default because we failed to pay the required monthly payment since 03/01/2010. And if we don’t, pay within 32 days of this notice, Chase will accelerate the maturity of the loan. We are attaching copies of all the payments in 2010(copies attached #9) only 3 payments are Missing: August, September and October, this are the payments that Chase was supposed to take from our account, but the took July’s payment (direct deposit $818.82) as per their initial instructions.
    Mr. Senator, this is our last hope to have justice. We are not the only people in this boat. But we feel that it is our duty to inform you what American Families are going through on a daily basis.
    As you know the banks are hiring people with no experience and they give no training at all. And we the people are paying all the consequences.
    We are so tired of all this“game”the Chase as be playing with us for almost 2 years. Please Help Us!! All this process has been a torture, the stress is killing us, we don’t know if tomorrow we going to have our house. 'We Don't Want To Give Up! All this time we did everything Chase told us to do, we send all the papers every time the ask for it, we didn't miss any payments in this long period of the trial. We Don't Know What Else To Do?
    Since this is a really long story, we can send you a power of attorney for our Chase account so you can see the entire detail.
    We know that they have all the “records”, as each time we called, we asked to confirmed the notes from the previous conversation and you will also find all of the document and the two contracts that they sent us.
    The American dream Mr. Senator became an American nightmare.
    Sincerely,
    Fortunato Del Moral Margaret Del Moral
    [protected]
    [protected]@hotmail.com
    PD. On December 11th, we got another 4 certified letters and others 4 letters in the regular mail.(copies attached #10)

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