Chase loan mod – delay, delay, delay, foreclose
Cindy reports:
Trying since April 2009 for home loan mod.. made my payments.. did everything they asked.. and now on June 23, 2010.. my property of 25 plus years will be sold at auction…i’m fighting this.. but after reading your letters.. i think this is what they do.. i also.. submitted paper..after paper.. call after call.. and now no one i’ve spoke with is there.. and they can’t find papers.. or say i didn’t send papers..
What can you do ??
We’ve reported this same exact scenario many times. What is still an open question is whether Chase is doing this on purpose or because they are inept and just can’t seem to get their act together.
Bad bad Chase, Foreclosure, Loan modification | admin June 11, 2010
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By anne, June 11, 2010 @ 3:49 pm
We thought you might appreciate this story about the bank that owns 30% of BP…
Making homes affordable Chase Scam:
Making Home Affordable is a government program that, if approved by the gov’t, a homeowner can then apply to their mortgage holder to have the monthly payments of their mortgage lowered to 31% of their income. The homeowner still owes the same amount, but the amount paid back per month is income sensitive.
But Chase has been reading a lot of Kafka lately. Especially, the Castle, and they’re inspired!:
There are lots of people caught in a terrible loop of Chase “losing Documentation” and making people continually re-send in forms for an MHA even after they are appoved for one by the gov’t. So we had a Chase bank mortgage specialist at a Chase bank fax all our forms for us but Chase still claims they didn’t receive all the required information and then demanded even more information not asked for on the application. Since we own and live in a duplex we must now send them proof we do not have not formed a homeowners association with our housemates, for example.
But the real test of their devious cleverness is a scam based on their own bank statement paperwork. Please admire its Kafka-esque brilliance. On Chase bank statements they leave the last page “left intentionally blank” but they do not number this last page. For example, a Chase account may have 6 pages and all the pages say, i.e., 1 of 6, 2 of 6, but page 6, the blank one, is not numbered 6 of 6. we have been continually turned down for an MHA because we are not sending them, Chase- holder of our mortgage and the bank where we have our accounts- complete bank statements even though we do send them that 6th page. Since it doesn’t say 6 of 6 they claim our application isn’t complete and make us start over from the very beginning. Going on Month 7. Evidently that’s nothing, most people who have tried have been trying for twice this long.
There is one recorded incidence of Chase approving an MHA but it was too late and the house was already in foreclosure…
By EOL, June 16, 2010 @ 7:36 pm
I started in the Loan modification program in June 2009. I’ve submitted and resubmitted my paperwork on numerous occasions due to the fact that Chase misplaced or “did not receive” paperwork. I spoke monthly with the representative, who assured me it was in process. Each month, I made my payment of $1100.00 on time. In Feb 2010, I was told my file was complete and they needed my proof of insurance. I submitted it in Feb and again in March. I have the fax confirmation to prove it was sent. In May 2010, I got a collections call from Chase. I told the representative I was in the Loan Modification program. She told me I had been dropped from the program due to not submitting my insurance. I never received notice from Chase that I was dropped. My next call was to my representative, she told me that there was nothing should could do and referred me to customer service to start all over again. I called customer service and was told I could go into a repayment program and my first payment would be $4000. If I could not afford my $1500 payment, how can I pay $4000? I then asked for a letter stating why I was dropped, they refused to give me one. I then started examining some of my statements and saw extra charges for “fast pay” fee. They told me I had to pay via phone monthly to make sure my payment was applied properly, yet they charged me for it. I wanted to see how much extra I had been charged, but my online account only had 3 months of statements. I called customer service to get a copy of my statements and they said they could not give them to me since I had a balance due. On June 15, I called and asked to speak to a supervisor. I told her I had the fax receipt that the insurance was submitted. She said she could not reopen my loan modification because the information was too old. Chase has kept me waiting for a year, accumulating late charges, interest and fees, and now they say the information is too old? She offered to fedex me paperwork to start the loan process again. I received that on June 16. If I restart, there is no promise that it will be done any quicker than last time. In the meantime, Chase has been reporting the short payment to the credit agencies for the last 12 months, ruining my credit. I expected all this for the 3 month trial or at the most 6 months, but this is too much.
By Cass, August 11, 2010 @ 9:22 pm
Same story as above and no way out…..
By NO to Chase, December 15, 2010 @ 9:57 pm
I went through the same stall tactics as discussed. Chase constantly asked for paperwork and I call to check on the status, they would ask for more. After a while they said the paperwork that they had was too old and I needed to resubmit. I would always ask if they had what was needed every time I called and they would say yes. They finally said they had everything after a sale date was published and after that it was too late. My “relationship manager” kept saying, don’t worry we will get it postponed to get the modification done and that I qualify. My home was sold, now my wife and two young children, 7 and 3 have to move out with no clear idea where we will go. It is hard to believe that they received bail out money to help them when they were on the brink of failure and they will not help those that were affected by Wall Street’s practices and are still struggling to survive. SAD, SAD, SAD excuse for a bank/mortgagor/servicer.
By Linda, January 18, 2011 @ 9:10 am
Same story as all of the above. We did receive a loan modification this year but only about a &100.00 less than my orginal payment a month. This did not help us at all. Im not sure where they get there information, but this is not 31% of our income. Its more than half! I have been unemployed as of 2007 and have been unable to find a job. Not sure what we are gonna do yet. But this is happening all over with Chase and their as@#$%es!
By chasemortagevictim, January 22, 2011 @ 12:27 pm
We have had the EXACT same eperience!!
Started in Sept. 09. Still fighting
with them.
Stall, Stall, Stall! “Wait, we need you
to fax EVERYTHING again because we don’t have
it or its too old! I know it cost you more
money to fax but that’s all we can tell you.”
The worst part is I was only a few months behind
because of a slowdown of work. Since I’ve started
this process they have pushed me further behind.
And now they won’t take a payment from me!!! Even
though I’m capable of making the orignal payment.
And he’s a clue for Chase. Maybe you should stop
outsourcing your mortage support and hire some of American mortagee’s who are having trouble and
who understand the seriousness of dealing with mortages. The people that you talk to act as
if we are dealing about a cable bill!!!
I WILL NEVER EVER DO BUISNESS WITH CHASE AGAIN!
By chasemortagevictim, January 22, 2011 @ 12:34 pm
Oh, I forgot to mention that onetime they said they cancelled the modification because they couldn’t verify that the home was occupied!!!! This is my permanent residence!! I’m here everyday and my wife was out of work at the time so she was even here doing the day!!!!
Now we are in forclosure!
By Chasemodsince2009, January 22, 2011 @ 9:32 pm
I started working with Chase modification department in January of 2008. I gave up after the modification package which I was told to expect in the mail never came. So I called, only to be told by approx. the 10 the person handling my file, that I’d been denied the modification.being told that I’d been modified and should expect a package. Again in November 2009, I applied. In May 2010, once again I was told that I’d been modified and to expect the package in Mid June. Once again, now with a new rep. I was denied modification. In August 2010, I was given 3 choices. Foreclosure. Short-sale or deed-in-lieu. At the time of my first filing I have close to $80,000 equity in my home. Now it is in a short sale for less than .50 cents on the dollars. Of course, after they refused to accept my payments they continued to run the interest clock making it impossible for redeemption. It may be just me, but I felt during this process, that the equity in my home was the driving force for the on and off modification approval. During the course of this process, I’ve spoken with close to 50 CSR. This has truly been a nightmare. And once again for the 18th time, I must fax them more doucmentation. LOL! This is all I can do. I give up!
By ada lebron, April 16, 2011 @ 4:12 pm
I need help. I applied for a chase modification loan and am currently caught up in their modification scam causing me to foreclose soon . what can i do ?
I applied two years ago. Chase lies and keeps saying they dont have my paperwork even though i faxed complete sets to them 7 times.
By Brian Moore, July 1, 2011 @ 6:14 am
This is a bank run wild, I thought I was the only one that was going through this but find that there are probably thousands of us. Chase has played the same game with us, delay, after delay, lost paperwork, resubmit, original to old now , re-submit etc, etc, etc. We finally got approved but only after being in foreclosure for close to eleven months. We ended up going to court (Them Taking us by the way) as it turned out this was the best thing that could have happened, the judge was extremely sympathetic to us and pretty much ORDERED Chase to help us. God bless this judge. So they finally put us into the programs TRIAL period of THREE months. Which has now turned into six months by the same tactics they used to delay the original paperwork. THIS BANK SHOULD BE CLOSED DOWN BY THE FED. I am hoping to find a law class action suit filed on this some where. PS Just was told today that all our paperwork is done and we should have our final closing in a week to ten days, we’ll see! This was only after I called and threatened to call my state senator on this and also file a class action law suit! Good luck to you all!
Outraged taxpayer in NY
By dadurbinet, July 6, 2011 @ 1:16 am
Chase has terrorized us also. We got Trial Plan in Oct 2009, paid 19 months of trial payments while in “review”, complained to OCC, our Senators, HOPE, but the latest is a letter stating we do not qualify for any modification. We owe too much…as a result of paying partial trial payment as given, not the regular amount. Now, options are foreclosure, short sale, etc. We consider bancruptcy…or borrowing from friends (blessed to have them) to bring the loan current and work harder to keep up payments…BUT, will Chase take the money and turn around and foreclosure anyway? Has anyone done this? Has anyone gotten a re-payment plan 3, 6 or 9 months?
By R. McCartney, July 7, 2011 @ 6:00 pm
Same sad story here. I started in March of 2009. Fell right in to the “trial period” trap. When in two months behind and came out seven months behind and no one would touch me for a refi. They never tell you that. Two years of lies, deceit and resubmittals and I finally get a “modification” in March 2011 that RAISES my payments $115 per month and get told I should be grateful not to be in foreclosure. If you do bankruptcy (Chapter 13), the judge will tell Chase what your modification will be, but if you miss any payments on the 13, you lose everything. If you are not already in foreclosure and you bring the loan current, they cannot foreclose (legally anyway), but if they have already started the foreclosure proces, then they will probably take your money and foreclosure anyway. They are predatory!
By LRainwater, July 10, 2011 @ 6:20 pm
Ditto as most of the above. We’ve played the game with Chase and continue to play. Applied for refi, have good credit, denied. No reason given, none! We got to a point we were drowning, our daughter has brain cancer. One income family now, due to her illness. Chase “suggest” home modification. Then says we aren’t eligible, we have to be 2 months behind, and to “skip 2 payments”. We skip payments, send/fax papers over and over again, they claimed they did’t get them, then when we think that is resolved they claim there is a problem with our homeowner’s insurance which WE pay and pay it up until it’s renewal period this Sept. There was NO problem with our insurance and it was already paid! This has gone on since February of this year, and now, last we they say we aren’t qualified, owe them plus interest for their payment to our insurance PLUS we received foreclosure papers in the mail! So we’ve paid off the amount of the 2 missed payments, but now we are dealing with the foreclosure and insurance mess. No explanation as to why we didn’t qualify, we get nothing but a run around when we call Chase, and no one seems to be able to help. I’ve called and emailed Senators, Reps’, everyone I know, and no help. Tried refinancing with another company, and cannot due to the status Chase says our loan is in, which is due in part to them telling us to miss 2 payments!! We had good credit before all of this.
We just need help! Our daughter is dying, we cannot move or anything else with her like this. We have been in this home for 23 years.
By michele, July 15, 2011 @ 8:38 am
I am looking for individuals to join me in a potential Class Action lawsuit against Chase Bank for violating my home owner rights and failing to follow Home Affordable Modification Program (HAMP) guidelines. Ifyou were approved for the trial period, made all of your scheduled payments on time, live in new york state and then you were denied for a modification, please contact me. joejoe1815@gmail.com
By Ruth, April 22, 2012 @ 5:23 pm
Any suggestions on this? We have a bankruptcy that was charged on 10/2009 (result of a realestate portfolio being revalued in 2008.. long story). In the BK we owned one duplex in Lorain Ohio with a Chase HELOC for 80K. The loan was discharged in 10/2009. Chase refused to foreclose or accept a DIL to get our name off of the title. Does anyone have a contact at Chase or an attorney who can help us? They are holding us hostage…
By Keith, April 25, 2012 @ 10:42 am
This has all happened to me as well. My home goes to trustee sale in 3 hours. My question is how you got any of the information from Chase over the phone. I could never understand the people I was talking to. They either had such thick foreign accents with little knowledge of the English language and/or they had the microphone portion of their headsets to far in their mouths. (or elsewhere) Ask them to repeat something that you didn’t understand and they get mad and either say it again even faster or they just hang up. 1 more quick question. Has anyone ever spoken to the same person more than once? I’ve talked to at least 50 different people who all have the same phone number and extension. Well, I’m off to go find a hole to live in with my family. Thanx Chase Home Finance.