Do you need to be in the news to get a loan mod with Chase?
This story is so typical Chase. Family falls on hard times, in this case because they have a gravely ill child. Chase has initiated foreclosure proceedings in parallel with the homeowners seeking a loan modification and days before the foreclosure sale is scheduled, Chase tells them that they have been approved for a HAMP loan modification. But, the papers never arrive and the house is sold back to Fannie Mae.
The reason this case didn’t stop there is that the Washington Post wrote a story on this particular family and their plight, and Chase decided that they would take a second look at the families situation.
For one thing, under Fannie Mae protocols (Chase just serviced the loan) the family should have been offered other modifications options.
So the publicity put pressure on both Chase and Fannie Mae and they discovered the case had not been handled properly. The foreclosure has been reversed and the family is being offered other modification options.
Is this really the only way to get treated fairly by Chase contact the press?
Bad bad Chase, Foreclosure, Loan modification | admin September 19, 2010
