Your chances for a permanent loan mod with Chase just got lower
The Making Home Affordable Program just released its latest report on loan modifications with some astounding information. Our good friends Chase ranked near the absolute bottom of the banks listed for percentage of trial modifications converted to permanent ones, with an amazingly low rate of 22%. Said another way, if you are currently in a trial loan modification under the HAMP program you have a less than one in four chance of being converted to a permanent modification. This doesn’t include all the trial and tribulations of getting a trial modification going in the first place, such has having to repeatedly submit documents to Chase because they lose them, misplace them, or simply won’t acknowledge having received them, and then waiting for months to get approved.
Loan modification | admin May 18, 2010
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By Michelet Carsrud, June 18, 2010 @ 11:15 am
THIS is exactly what happened to US!! We have been in our home 5 years and they foreclosed after having filed a modification August 2009. Their attorneys NEVER returned ANY calls and the house went to Fannie Mae and we are told we have NO recourse. We kept hoping we would have time to get current with a lump sum amount we would have the middle of May but they foreclosed May 4th!!! AND they told us not to make payments while we were in the midst of the modification so that we would stay qualified and the amount we were behind would be added to the loan when the load was rewritten!!
Where do I find names of the people this happened to for contact so we can have our attorney contact their attorney????
By sunny from tenn, July 31, 2010 @ 12:52 pm
they have “lost” schedule e form—lol!!!!!!!!!!!!!! thats for royalties etc….we sent everything last yera october were supposed to be approved april and NOW are still getting letters claiming lost paperwork-dont bother calling them-their csrs are illiterate and dont give a da–n….sad that american banks are allowed to do this to their homeowners………HELP!
By Kim, October 18, 2010 @ 7:17 pm
I know how everyone feels i have been dealing with a mod since april of 2009 and still fighting i was supposed to be in the final process and i just called today to find out what happened and Chase said that they tried to contact me on August 18 no way its my cell and its always on me. the Name of my caseworker is Karam Mcdear might have last name splent wrong but thats how it sounds. I love my home and my husband said he will rip out every improvement he made if it forecloses on us.Good Luck to Chase every selling it it will be condemed first lol. i wont bend over for a bank that does this to american hard working people we need to stand up and fight somehow.