Ok, this seems to be how a Chase loan mod works: You pay trial modification payments for a very long time (8 months, 11 months?) and in the end those payments do NOT get credited to your account and your loan balance actually goes up substantially. Oh great.
Loan modification | admin March 4, 2010 | 
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This is bad. Chase has been accused in New York of some pretty foul and possibly fraudulent behavior around foreclosures. One example has Chase rejecting payments to bring a mortgage current, so they could foreclose instead.
Bad bad Chase, Foreclosure, Loan modification | admin March 2, 2010 | Comments (0)
This is a new one. Chase actually foreclosed on a homeowner who was actively enrolled in a trial modification. Worse yet, the house was sold (back to Chase?) for $100. (story)
Foreclosure, Loan modification | admin February 16, 2010 | Comments (0)
With Fannie Mae and Freddie Mac saying they will be repurchasing loans more than 120 days delinquent, there is some speculation this could mean they will eventually end up back at the bank they came from. So, if you have a loan from WaMu or Chase that was sold off and is owned by investors, which makes it harder to get a loan modification, this could help you at some point.
Loan modification | admin February 11, 2010 | Comments (0)
Chase’s latest way to weasel out of giving permanent loan modifications under the governments loan-mod program – claiming your hardship is not of a permanent nature. (article)
As this recent loan modification horror story shows, Chase is still completely disorganized when it comes to managing the loan modification process, including sending the wrong paperwork, losing paperwork, not returning calls, giving wrong information, and taking a LONG time to do anything.
This potentially positive loan modification experience with Chase shows that even good outcomes must go through lost paperwork and plenty of other nonsensical bureaucratic snafus. It’s not Chase’s general unwillingness to work with people or admit to the realities of underwater borrowers, that is their prerogative. It is the pure ineptness of their process that I find the most distasteful. That has been WaMu/Chase’s problem for a long time, generally unhelpful and inept people.
Ineptitude, Loan modification | admin February 5, 2010 | Comments (0)
This persons post on her experience with a Chase trial loan modification does a pretty good job of outlining what is wrong with their program (in 34 points). One thing notable though is that although she was denied, she made more payments than she needed to because Chase conveniently forgot to notify her that she had been denied, or as a Chase agent said, “didn’t someone call you?”
Bad bad Chase, Ineptitude, Loan modification | admin February 3, 2010 | Comments (0)
