64 Responses

1. Alexwebmaster Said,

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   Posted on March 3rd, 2009 at 10:16 am

2. MNA Said,

   We had problems even getting phone numbers for the escrow department… or when we did get thru to someone they hung up on us.. we went into Chase bank locations… only to be told NO CAN HELP… so We wrote to the FTC filed complaints.. and to the Office of the Comptroller at the US Dept of Treasury.. the Dept of Treasury stirred someone at Chase bank because we got a nice letter and an invite to work together to solve the problem… After all who holds the bailout monies??? the Treasury!!! here is where you can start your complaint process http://www.occ.treas.gov/customer.htm

   Posted on May 1st, 2009 at 3:51 pm

3. Steinberg Said,

   WAMU’s loan modification program is a scam. They are not interested in modifying yourlaon if you have equity in your property. Their excuse to most consumer is that you do not have enough income to justify a loan modification.
   They do not understand the fact that the very reason for filing a loan modification was becasue you cannot afford the current payment.

   More people need to complain to the Dept. of Treasury of Chase’s practice for loan modification.
   Thing to note is that you can never get in touch with your loan negotiator. They never call you back. Consumer’s only option is to talk to the call center Staff. Also Chase is notorious in backbilling payments that were not accepted by them while consumer is under loan modification program and they report delinquency to credit bureaus.

   Dont trust CHASE. They will Chase you out of your property.

   Posted on August 24th, 2009 at 10:04 pm

4. Joyce Said,

   I agree, I had my mortgage modification denied. I’m told I have surplus income thought I’m running negative every month. I had my bofa 2nd loan modified.
   Chase doesn’t even follow govt guidelines which requires the loans to be modified if the mortgage payment exceeds 31% of your salary. Chase customer service(for mortgage modification) persons are very rude. They behave as if they are giving money for free.
   I agree with the above person that they denay modification if you have equity. They asked me to sell the house and walk out free or force the second lender to accept loss.

   Posted on October 7th, 2009 at 5:46 pm

5. Eleonor Said,

   Chase is the worst bank to apply for a loan modification!
   I applyed and my file has been in review w/the underwriter since 10/04/09 then something happened with that person. Obviously no one followed up and when they saw that my complete file had pretty much sat there for 2months they decided to give it to a new underwriter all over again. My “30-60 ” day process to get a decision turned into a 4month waiting period which had yet to produce any result. They can’t tell me whether or not I am approved or denied for 4 months, It’s completely ridiculous!!!! All the call center staff are bunch of robots who are programmed to say the same thing over and over again. Chases so called “loan specialists” have no idea what type of effect the loan modifcation will have on your credit or how it actually works. Over all its a disguisting process and most of the time you are treated like garbage and the way they speak to you is sickkk (like they’re doing me a favor) Its’ very unfortunate that all the bail outs and tax payer $ are pretty much going to waste. These programs were made to assist instead it turns out it’s just another scheme to screw you you! (AT LEAST IN CHASE’s CASE)

   Posted on January 19th, 2010 at 3:53 pm

6. Vickie Said,

   I agree with the above comments as well. The exception is that when I call the call center reps are pleasant. However I went through 4 months of processing and they kept sending me certified mail requesting the same info every 2 weeks or so. Then when I nailed them down and proved they received the same info several times they stated the underwritters changed and the guidelines…after all of that they denied me stating that I am not eligible because I am on unemployment. I asked then WHY didn’t they say that initially. They explained that the guidelines change monthly. Well whatever guidelines were in place at the time I applied should be what they use to determine my case!!! A bunch of BULL!!!!!!!!

   Posted on February 2nd, 2010 at 3:44 pm

7. md Said,

   chase is a scam. they always say to call beack with in 1-2 weeks for an answer. its been 5 months and nooo answer. i have never been late on my payments. seems they help the people that dont pay on their loans first. so, i guess im done paying them. chase sucks!! and so do their rude customer service.

   Posted on February 8th, 2010 at 2:01 am

8. admin Said,

   Unfortunately, if you are not yet delinquent on your payments then your application is at the bottom of the stack. Obama’s Home Affordable Modification Plan (HAMP) has provisions for helping borrowers who are not yet late on their mortgage but face an “imminent risk of default”. This is actually a mathematical equation that lenders use to determine if current borrowers are eligible for a loan modification. The formula for Imminent Risk of Default is included in the Loan Mod Quick App software, which is included in The Complete Loan Modification Guide kit.
   You must be able to pass this trigger if you are not yet late on your mortgage, so make certain that you have completed your financial statement correctly-the software can help you do this.
   http://www.myloanmodificationcenter.com

   Posted on February 9th, 2010 at 1:20 pm

9. wyn Said,

   We had been working with Chase since 11/08. Trying to get a modification done. Were bounced from one program to another until 8/09 when we were told that we qualified for “Obama’s plan”. We have sent everything and pretty much jumped thru hoops to make sure that they have everything that they requested. We were told each time to check back in 2 weeks. We were put on a “trial payment” that started in November of 2009 and was supposed to only be until January of 2010. We were assured that a decision would be made by January. Still nothing and when I called last week, I was told that some of our paperwork had expired and to refax it and check back this week. I just called them and was told that our paperwork has been updated and to check back in 2 weeks (AGAIN!!!!)
   I’m so frustrated!!!! This has been going on far too long with no end in sight! But what can I do??? ABSOLUTELY NOTHING!!! Until Chase decides what they are going to do!

   Posted on February 10th, 2010 at 12:57 pm

10. admin Said,

    The latest news for Obama’s HAMP procedure is that banks can no longer offer a trial modification without first APPROVING the homeowner-this means that all of the financial information you provide must be reviewed within 30 days of receipt and a decision made to either approve the loan modification or deny it. If your loan workout is approved, then you will be placed on the trial modification for 3 months, and if all those payments are made on time the modification will automatically become permanent.
    No more of this updating information, hanging in limbo, getting a trial modification only to be denied after you make those payments.
    If you are denied, then your file will be moved to HAFA-Home Affordable Foreclosure Alternative or short sale. The same paperwork will be used to determine if you qualify for this alternative to foreclosure sale. A short sale is a lot less damaging to your credit, and under the new HAFA guidelines, the lender CANNOT pursue a deficiency balance judgment against you. The sale proceeds must be accepted as payment in full. Also, homeowners must receive a $1500 transition payment, to help with moving expenses.
    Banks are paid by the Feds (again-big surprise!) to participate in HAFA, and are governed by a procedure with timelines and documentation requirements.
    So, one way or the other, homeowners will know within 30-45 days whether they qualify for HAMP or HAFA-no more limbo.
    You only get one chance now to prepare your loan modification application correctly, get it into your bank and hopefully get a loan modification under Obama’s HAMP or other loan workout program. Remember, the information you provide will be reviewed to decide if you meet the eligibility guidelines or not. It is critical that you submit an accurate and acceptable financial statement.
    I created the Loan Mod Quick App to help homeowners with the calculations used under HAMP-the 7 triggers for approval are figured automatically for you-simply input your own income and expenses and your debt ratio, target payment, new interest rate and disposable income are figured immediately. You will see if you need to make any adjustments to your budget before the bank reviews your application!
    Do you know if you meet the Asset Ratio requirement? What about your current Debt Ratio? Imminent Risk of Default category? The Complete Loan Modification Guide Kit and Loan Mod Quick App will calculate those for you-avoid mistakes and give yourself the best chance of approval-now is the time to get serious about saving your home.
    Banks are getting serious now about clearing out their delinquent loans and homeowners will have to make some tough decisions quickly-don’t wait until its too late. Trustee Sales are no longer being delayed. Get started now so that you have a fighting chance to take advantage of the $75 billion dollars in stimulus money that is funding HAMP.
    Learn more about how to begin at http://www.myloanmodificationcenter.com.
    There are pages and pages of FREE information on this site, and if you wish you can purchase the Kit and Software to help you.

    Posted on February 11th, 2010 at 10:45 am

11. admin Said,

    Remember, a Chase Loan Modification under obama’s HAMP guidelines requires that you meet the 7 triggers for approval. Chase will review your financial statement and the information you give them on this form will be used to decide if you fit the approval criteria. Wouldn’t it make sense to know what those guidelines are and then fine tune your loan modification application so that it has the best chance of approval?
    Your debt ratio, disposable income and target payment are calculations that Chase will perform to determine if you fit in the small box of qualifying criteria. You can use the #1 resource for do it yourself homeowners to help you prepare your financial statement correctly-The Complete Loan Modification Guide kit including the Loan Mod Quick App software provides you with the tools needed to avoid mistakes and get it right the first time. Simply input your own income and bills into the software program, and it does all the calculations automatically for you! See immediately if you need to make any adjustments to your budget before Chase ever reviews it.
    The new HAMP approval timeline now has been shortened and you only get one chance-take the time to prepare your paperwork correctly and give yourself the best chance of approval.
    You can visit http://www.myloanmodificationcenter.com for hundreds of pages of FREE information, and if you wish you can purchase The Complete Loan Modification Guide Kit and Loan Mod Quick App software to help you complete your paperwork for submission.
    Your success is my goal-be persistence, be informed and get going.

    Posted on February 12th, 2010 at 12:16 pm

12. RN San Jose Said,

    I have applied for a loan mod three times, Since 2/2/09 I have completed three harship letters, It all started with lossing hours at work, Then went to lossing the job, and now just recently was diagnosed with cancer, and these RUDE! robots have the currage to still say my loan mod is denaid do to my hardship not being a permanent nature….. I could not belive when i recieved the letter for Chase…. these people have no clue and WILL NOT help no matter what you sitution is….

    Posted on February 23rd, 2010 at 1:44 am

13. admin Said,

    If you guys want to really get the steam coming out of your ears about Indymac loan modifications and why they do not help very many homeowners, watch this video and get some insight onto why Indymac-OWB posted a $1.5 BILLION dollar profit last year!

    Aren’t you glad your tax dollars are hard at work? Watch the 1st 4 ½ min of this.

    http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1449076

    This is unbelievable but true- Indymac loan modifications are just not being done because OWB makes millions of dollars on each short sale or foreclosure. The FDIC set up a deal with Indymac & OWB so that they are incentivized to take homes from borrowers instead of helping them. I don’t think this is what Obama had in mind when he launched Making Home Affordable. Once again it’s all about the banks and the homeowners get the shaft.

    You won’t believe the sweetheart deal that the Indymac boys were given by the FDIC.

    Posted on February 23rd, 2010 at 11:52 am

14. admin Said,

    OWB – Indymac bank just modified a jumbo loan with unbelievable terms! 10 year interest only with a 2% interest rate and over $250,000 in deferred principal. This homeowner was able to save her home with a very aggressive loan workout from Indymac-OWB that blew me away. This is not HAMP or Obamas loan modification plan-this is an in house program and the terms are very affordable for this homeowner.
    She had a sale date already and was facing losing her home, but she reapplied with an updated budget she prepared using the Loan Mod Quick App software program. Indymac came back this unbelievable loan modification and she is now able to easily afford her mortgage payment. I guess miracles can happen-unfortunately not often enough though for the majority of homeowners.
    The lesson here is to not give up and make sure your loan modification application is prepared correctly.

    Posted on March 1st, 2010 at 11:11 am

15. Michelle Said,

    Here’s my story…I sent in all my paperwork for the making home affordable w/Chase end of November/09. The middle of Dec I get a letter stating their was a shortage in our escrow acct and the payment will increase $600 per month if we cant come up w/$4500 to cover the shortage. I made a regular payment for December and stopped making my house payment from Jan/10 till present. I called every 1-2 weeks to see if Chase had made a decision and nothing…2 weeks ago I call Chase and they tell me I’ve been denied, no explanation why and then they transfer me to the collection deparment who basically make a payment arrangment w/me. The Rep who was actually pretty nice told me I what I needed to pay for March, April and May and said after I have made those payments Chase would come up w/a permanent solution which could be lower the interest and put the negative balance to the back of the loan, etc. I received the forebearance paper work in the mail yesterday and it stated the 3 pymt’s the rep told me about and then a balloon payment of $5000 for a 4th payment that no one mentioned. I am furious at how they are not helping my situation at all. What they are doing is basically making an arrangement for the balance we owe…do they not understand that my husband lost his job and the increase in payment due to their calculating our pymt incorrectly has made it hard for us to pay. If I had the money I wouldnt be behind or need the help! Im not sure how they feel in 3 months I can pay $5000 addl when our income has decreased and finding a job isnt as easy as it used to be. Anyone else had this problem or advice they can give me?

    Posted on March 10th, 2010 at 2:21 am

16. Jo Said,

    Michelle,

    I am going through exactly the SAME thing w/Chase and the escrow shortage B.S.-they have ruined my credit making it impossible for me to pay. I too applied for loan mod. and am waiting, and waiting and waiting. Their bank name IS appropriate because they are literally going to CHASE me out of my house!!

    Posted on March 20th, 2010 at 8:45 pm

17. admin Said,

    a Chase loan modification under HAMP must include an escrow account for your taxes and insurance. The fed has mandated that the 31% target payment include principal, interest, taxes & insurance. Even if you have never had an escrow or impound account before, one must be set up now. This is really a benefit for homeowners as you never have to worry about coming up with large chunks of money when the bills come due.
    A Chase loan modification under HAMP is the most aggressive loan workout plan available-everyone should request consideration for this plan. You must live in the home as your primary residence, have a loan amount less than $729,750, loan taken out before 1/1/09, and have a current payment that is greater than 31% of your household monthly gross income. You must also demonstrate a financial hardship situation.
    The trick to a fast approval is to prepare and submit a COMPLETE, accurate and acceptable loan modification application package. This means that your financial statement is prepared correctly so that you meet the standard, mandated federal approval guidelines.
    If you don’t understand how to figure your debt ratio, target payment or the other triggers, then use a software program that does all the calculations for you automatically. You can avoid mistakes and make sure that you have adjusted your budget to fit into the criteria before Chase ever reviews it.
    If you want to learn more or need help, visit http://www.myloanmodificationcenter.com for tons of free information-and the software program is available there if you decide you need it.

    Posted on March 21st, 2010 at 11:18 am

18. Wugger Said,

    HOW do you get the bank (Chase for Deutsche) to do the modification if you can’t even get them to do an Appraisal to establish the current value of the home; which would also aid in determining whether you can’t or can afford it in the first place?

    We’ve even submitted for a Loan Audit via NACA (Neighborhood Assistance Corporation of America – non-profit that helps with foreclosure), and Chase merely sent a form letter acknowledging the request but has yet to send anything.

    Posted on March 30th, 2010 at 11:07 am

19. admin Said,

    In order to get a quick response to your Chase Loan Modification application, you must be prepared to submit a complete and accurate package. You can go onto their website and download their application forms. These will include a document checklist and a financial statement.
    It is critical that you prepare your financial statement so that it reflects your income and debts correctly and that you have fine tuned your numbers to fit within the HAMP guidelines. There is a mathematical formula that is used by all banks under the federal plan, and you can use this very same formula when preparing your own financial statement. This is the key to a quick answer-so them what they need to see the first time!
    You must be able to prove your income with paycheck stubs, or bank statements, W2 etc. Based on the income and debts you show on your financial statement you will either be approved or denied-if you are not sure how to figure your debt ratio, target payment, asset ratio or other qualifying triggers, then you can use a software program that does all the calculations for you automatically.
    Visit http://www.myloanmodificationcenter.com to read lots of free information about how to property complete your application, and if you need extra help you can order the software program. It really gives you the information needed in order to have the best chance of a Chase loan modification approval.

    Posted on March 30th, 2010 at 2:08 pm

20. Ron Jury Said,

    I have had my loan mod denied twice. Chase has been impossible to work with. I’m about ready to give up. Why did our government give them millions of dollars if they’re not going to help anyone?

    Posted on April 8th, 2010 at 12:02 am

21. admin Said,

    I would encourage you to try again-some homeowners apply over and over until they finally get a loan modification. You can really increase your chances by making certain that you are preparing your financial statement correctly and so that it fits into the approval guidelines. Its not that difficult once you understand the basic formula. You must be able to meet the debt ratio, target payment, and several other criteria. If you want more information their are many pages of information available at http://www.myloanmodificationcenter.com under BLOGS. You can also learn about a soft ware program that helps you figure your budget correctly and shows you where you might need to make adjustments to fit in the guidelines.
    Saving your home is worth trying again-don’t give up yet! The FED is really coming down on the banks now and putting more pressure on them to help borrowers. Now is the best time to try again for your Chase loan modification.

    Posted on April 8th, 2010 at 12:49 am

22. Cynthia Said,

    Chase is RIDICULOUS!!!! i’ve prooven that i’m a single mom.. with no child support.. i’ve had a loss of income, and it’s been 10 months of borrowing $ from my parents so i can make my payment on time every month! After waiting since June 28, 2009, i was given a letter yesturday saying they denied me because i’ve never been over 60 days late!! It would’ve been nice back in June and throughout other phone calls when i asked if this was hurting me to pay on time they would’ve told me “YES” instead i was told they don’t want to see people ruin their credit. ha! it’s taken everything in my power to not walk away from this loan. Even with a 805 credit score!

    Posted on April 20th, 2010 at 2:17 pm

23. lm kayser Said,

    we need to start a class action lawsuit against them as this is fraud. i’ve been dealing with this crap for over 14 months and they keep asking me for new info every month or so. it’s just a stall tactic. other bank’s customers are suing..we need to do the same.

    Posted on April 24th, 2010 at 1:11 pm

24. Babydoll Said,

    Is it just me? I turned in my application for a loan modification in Jan 2010 and have not heard or have I received anything about it. I have been trying to get a hold of someone for 2 months and keep getting different numbers and it seems no one can tell me what the status is of my modification. They send you to collections and the loan modification has 20 different numbers so far on my list. I have never had any great experienced with chase on calling about anything to do with my mortgage loan. WHO IS THE CEO? Not that would do any good but hey he needs to know how the customer service department knows nothing and always pawning you off on some else. From my understanding it takes 30 days from the time of your application, this is going on May and no answer and no decision.

    Posted on April 30th, 2010 at 2:54 pm

25. butterfly Said,

    I give up! I’ve been working with Chase since early 2009 on a modification on an adjustable rate. They gave me an impossible fixed rate over 8% and stated it was less than the adjusted 12%. This drove my montly payments from 1725 to 2421 a month. Under the affordability plan I was then given a trial rate of 1122 because of loss and work hours. What they didn’t mention was that every month I paid 1122 they would put that money into a suspense account and wait for the next months payment to total 1725. That created late fees for each month and a charge of the original payment as past due. So although I pay a reduced trial rate every month I am still being charged with past due/late fees. And I am being reported to the credit bureau as late instead of paid as agreed. When they finally completed my modification after 10 months the monthly rate is higher than it was before. I went from 1725 to 1905. WTH. If I had difficulty paying 1705 then how can I pay 1905. When I spoke to the rep she stated my options was short sell or pay the past due.Im mentally exhausted. Can NACA really help?

    Posted on May 4th, 2010 at 7:57 pm

26. admin Said,

    A Chase loan modification under the Federal HAMP guidelines should provide you with a new mortgage payment that equals just 31% of your gross monthly income-including principal, interest, taxes and insurance. If your current loan is a negative amortization loan, then your new payment could be slightly higher under HAMP. Remember that neg am loans are actually increasing the loan balance each month-not good!
    Regarding your trial payments, it is true that while you are under the trial period, you are not in compliance with your original note. So until the modification is made permanent you will be reported late. However, that is a minor hit to your credit compared to a foreclosure. Many borrowers want a loan modification but do not want to hurt their credit-however you can’t have it both ways.
    I would recommend finding out what loan modification program you were offered and make sure you were considered for HAMP-it has the best loan terms available for borrowers.

    Posted on May 5th, 2010 at 5:38 pm

27. butterfly Said,

    Exactly! Upon speaking to the representative that sent me the offer she stated that 31% does not include interest, taxes and insurance. “It is Chase’s policy to add the interest, taxes and insurance after the determination of principal (31%). My document does not specify whether or not this is a negative amortization loan…..how would I know? The rep refuses to say she states it doesn’t matter, what I have received is the best they can do.

    Posted on May 6th, 2010 at 11:25 pm

28. Destroyed My Credit Said,

    I had a simular problem that ruined my credit and ultimately sent my finances into a tailspin. I was looking to skip a payment because of unexpected expences that arose. I was told I couldn’t skip a payment but, I could answer a few questions and see if I pre-qualified for a program that essentially would allow me to under pay my Nov payment, skip my december payment then pay a reduced amount in January. When i went to pay in January they told me I was in the Modification program, was 3 months behind on my payments and it reflected on my credit report.

    When I explained they misrepresented the program and did not disclose important information they said there was nothing they could do. It took me another 3 months to make everything current, then they still wouldn’t take me off of the program. I spent 10yrs never being 30days late on a mortgage and now I have 90-days overdue and some 30 day overdue on my credit report.

    I also had to juggle other creditors to catch up my mortgage which has caused additional credit issues. My transfer to a supervisor was – leave a message at the beep – and never received a return call. I was told by collections once I caught up on my payments, “I can transfer you to customer service but, they won’t do anything about it.”

    The sad truth is, we bailed these large banks out, they destoryed our economy and now they are showing profits again. What do we get – poor customer service, misleading programs that borderline fraud and a finantial system that can make up their own rules without any recourse.

    Posted on May 11th, 2010 at 9:31 pm

29. Destroyed My Credit Said,

    I was referring to CHASE BANK in my post above. I am actually searching the web for a class action lawsuit. I am surprosed there isn’t one yet on their modification program.

    Posted on May 11th, 2010 at 9:33 pm

30. Destroying my credit Said,

    I agree 100% with the above comment. I thought I was the only one going through with CHASE Mortgage. This process is misleading and a shame before God. I don’t know what to do at this point.

    Posted on May 19th, 2010 at 12:12 pm

31. John Said,

    I have a jumbo loan, I owe about $775,000. Will this loan modification program work for me? Does it address the issue that the house is worth A LOT less than what I owe (I am hoping they do a price reduction).

    Posted on June 3rd, 2010 at 9:38 am

32. Maria Said,

    My story is as follows: I entered the loan modification in January I received my monthly payments. Along the way I would call each month to verify that they received my payment. In May – last month I called to inquire what is next, I haven’t heard anything from them and wasn’t sure what I needed to do. The rep told me that I need to resubmit a 4506T, my current tax return or extension, current bank statements and to continue making a payment. I asked a couple of times is that it and he confirmed yes. He also told me that I should call in 48hours to verify they received the paperwork. I called the next day to verify and the girl on the phone said yes everything was there and I was good. I asked again do I need to send in anything else is assured me no that everything was good. She told me that she was sending my file to an analyst. A week later I receive a letter stating that I had been kicked out of the modificaiton program for failure to submit all the required paperwork. I called them to ask what happened, the man I talked to was very nice confirmed that yes they were missing paperwork and that he can’t understand why the two prior people told me I was fine. I had to resubmit the entire application again and I am waiting to see if I will be approved again. I am at a loss of words and don’t know what to do. I am being punished for thier mistake. Any suggestions?

    Posted on June 10th, 2010 at 2:10 am

33. leslie westbrook Said,

    I have been in a loan modification with Chase since June 2009. I have been turned down twice. It is all smoke and mirrors. Their reasons for turning me down indicated that reducing my payment and interest would not be financial beneficial to the lender… HELLOOOO. They got the bailout money and all I got was laid of twice in the last 18 months. We need to file a lawsuit against Chase.

    Posted on June 12th, 2010 at 7:11 pm

34. leslie westbrook Said,

    I am submitted my third loan package by the way and will continue to do so until they accept it.

    Posted on June 12th, 2010 at 7:11 pm

35. vern Said,

    i have been trying too get modification since august last year ,even hired lawyer and have faxed information too chase 4 times in last 8 month’s , they told me just lately that i was offered a trial payment in august last year and i refused it which is a lye, and another in march for which i failed too pay and then denied me a modification, june 27 2010 i got application for march payment’s and denial letter at the same time, now house is suppose to go too sheriff sale end of July , this is how they help people too keep their homes . i am a single father raising my 14 year old son since he was 3 this is our home and i want too keep it , but they dont much care about that.

    Posted on June 13th, 2010 at 8:04 pm

36. vern Said,

    sorry got letter’s in mail may 27, 2010

    Posted on June 13th, 2010 at 8:07 pm

37. Veronica Said,

    My modification was approved in March of this year and I was put on a trial plan which supposed to end next month July 2010. I have been making the new temporary payments as directed but late May I received a call from the Collection Center from hell. Here I am thinking that everything was going OK and then the calls keep coming. Last week I received 2 certified letters and 2 more mailed to my home – stating the same. Home to be foreclosed on 6/29 unless I make payments of over $11,000. Well, If I could have made the payments then there would have been no need for applying for a modification of the loan. I am presently at my wits end, there is absolutely NO ONE AT CHASE COLLECTIONS TO speak to and I think they have set up this department just to frustrate us. I saw in the papers that 3 homeowners in Queens, NY have filed a class action suit against CHASE because they approve, then disapprove and I am telling you I don’t know where to begin to sort this mess out. Oh I forgot – they refuse to speak to my lawyer. I just wanted him to sort through this madness and they won’t even take his call! I was told that they needed authorization to speak to him and I said I am giving you authorization and they told me that I could not. I am presently at my breaking point and I honestly feel like I am going crazy.

    Posted on June 14th, 2010 at 2:53 pm

38. admin Said,

    It sounds like the two departments are not speaking to each other-the Chase loan modification department and the collection department are two different entities. Once you enter into a trial modification all collection efforts should cease. If the collection department is still actively pursuing your account, then they have not been notified internally of your trial loan modification.
    You need to call the loan modification department, and make sure that your file is in their system correctly. Make certain that they postpone that sale date-since you are making your trial payments they are not supposed to move the home to sale.
    The Chase loan modification department needs to make certain that your file is noted within their system and pulled from collections. Do not get off the phone until you confirm that this is done and that your sale date is postponed,
    A final Chase loan modification is your goal-until you get the permanent loan modification paperwork do not stop calling-but don’t speak to collections-that will not help you. Only speak to the loan modification department!
    Learn more about how to apply and qualify quickly at: http://www.myloanmodificationcenter.com

    Posted on June 16th, 2010 at 10:33 am

39. Veronica Said,

    Upon the advice of a counselor at 188-995 HOPE i called Chase and spoke to someone in the Loss Mitigation Department who advises that my file is “perfected”, I asked what that meant and he said that all the information I forwarded was in order and that nothing is needed at this time but I am to follow up every 5 – 10 business days for a status report. I am amazed – one would think that such a large corporation as Chase would send you a letter advising you of the outcome. Afterall they do send you countless certified letters plus additional demand letters so how come they cannot mail you a letter telling you of their decision? I am just praying that I receive good news.

    Posted on June 17th, 2010 at 3:41 pm

40. Jeffery Said,

    We have been working with Chase for over 12 months now. When we first began, we were actually advised by Chase NOT to make our payments. At the time it really made no sense to me and made me a bit nervous because I was already 2 months behind (Hence why I was applying for a loan mod).

    So courtesy of Chase, I went behind 5 months by them not allowing me to make payments, even though I could have pulled together the money to make those payments. So fast forward 12 months and I have been through multiple programs, spoken with countless people there, and like everyone else, sent in the same documents over and over.

    Over the past 6 months I have not missed a single payment and really just been sitting in a holding pattern. The good news is that I can afford my payments now since I got a new job. The bad news is that I don’t have the 5 months payments plus fees, etc. to get caught up when I am inevitibly denied for their program.

    And to think when this all started I just wanted to get a lower interest rate and a forbearance deal to get me caught up from a missed monthly payment. And although I can make my regular payments now and have proven so for the last half year, I am still at risk of being foreclosed on because I can’t come up with the $14k from 5 missed months.

    What Chase is doing to people with these modifications is borderline criminal. If they weren’t going to work with anyone, they should have just told us in the beginning and I would have explored different options. Not letting us make payments, and then a year later denying us and foreclosing on us for not being able to come up with those mandatory missed payments is wrong on so many levels.

    Every single board of director on Chase should be ashamed at what they are allowing their company to do.

    Posted on June 21st, 2010 at 5:37 pm

41. admin Said,

    The frustration for homeowners trying to get a Chase loan modification seems to be universal-the process is full of holes, misinformation, starts and stops, and generally has been so confusing and discouraging that many borrowers have simply given up. THis is not what the Treasury Department had in mind when they announced the Home Affordable Modification Plan.
    HAMP is designed to streamline and expedite the loan workout process-however each investor has the discretion to implement their own specific “overlays” and this is where the problems come in. HAMP is a standard formula for qualifying and a standard formula for your new loan terms. If Chase would simply follow these standard processes then it would go alot faster, but it’s more complicated than that. Most of the loans Chase services are owned by investor pools-and each of those pools has their own guidelines that will supersede the HAMP guidelines.
    Homeowners who need a Chase loan modification would do well to learn the HAMP guidelines, prepare their application so that their budget proves they fit into the standard approval formula, then be extremely persistent with Chase to make certain that the program is adhered to correctly. It’s hard to ask for something if you don’t know what to ask for in the first place!
    Learn what your new target payment will be under HAMP, your new loan terms and your debt ratio before you speak to Chase so that you will be able to demand the correct modification.
    There is a software program designed just for homeowners that will calculate all these figures for you automatically-take advantage of this helpful tool so that you will have the best chance when you start your negotiations.
    There is a ton of free, important tips for applying and qualifying on http://www.myloanmodificationcenter.com- look under “blog”. You can also learn how that software program works and order it for yourself if you think you may need help.

    Posted on June 25th, 2010 at 11:06 am

42. Veronica Said,

    Today is the date Chase gave me to come up with the 11K mentioned in my post above. Last week I mailed the last of the trial monthly payments (under the trail modification agreement) to Chase. Can anyone please tell me what is to be expected from Chase after this date as it seems the Collection Department is dead set on foreclosing on my home despite the fact that I am going through the home modification program? Does anyone know what will happen next from their experience with Chase? I just tried calling the Loss Mitigation Department and I have to hang up – the horror of speaking with those people. Where do they get these people from? This is absolutely the worst experience of my entire life.

    Posted on June 29th, 2010 at 12:00 pm

43. V Marshall Said,

    Yes Chase granted us a trial loan modification , then renigned on permanent reduction cause we have erquity, which of course they knew all along. Been a nightmare for almost 2 years.e keep hearing about home owners filing a class action lawsuit against CHASE Bank and we’re willing/. Please how can we get started on this to scve our homes? Immediate response to this appreciated.

    Posted on July 9th, 2010 at 11:08 pm

44. admin Said,

    Chase was handing our trial loan modifications like candy at Halloween for a while-the problem was that they were not qualifying borrowers upfront-so when the file was reviewed most borrowers ended up being declined.
    Under the revised HAMP procedures, a Chase Loan modification will only be given after the borrowers application and financial information has been reviewed for eligibility. Now homeowners must submit a complete and correct loan modification application to Chase, and they will get an answer within 30 days of submission. If approved, the 3 month trial modification begins. At the end of the 3 months, the modification will be made permanent-as long as all payments were made on time.
    The Treasury Department issued this revised procedure because so many of the trial mods were not being made permanent. This is really good news for homeowners because at least now they have the chance to prepare and submit an acceptable application to Chase and get their loan modification in a much shorter time period.
    However, borrowers must understand the basics of the program and prepare their financial statement so that it fits into the federal guidelines for approval. There is a software program available for borrowers that actually mimics the federal guidelines and will do all the calculations automatically. This valuable tool will help avoid mistakes and also increase the chance of approval.
    For more information about Chase loan modifications and how to apply & qualify, visit http://www.myloanmodificationcenter.com.

    Posted on July 10th, 2010 at 11:08 am

45. Stacy Said,

    I have been dealing with Chase since November 2009. I have submitted multiple modification applications. First I was denied because they would not count unemployment benefits. Another time they denied me because they say I didn’t turn in all the paperwork, after I had called and was told everything was in order. Finally I obtained a part-time job and was told they were now counting unemployment income, and I rented out a couple of rooms. Then I was denied, stating I needed to reduce my income. With my tax return I reduced income and was denied again. I cannot even read the letter, words are cut off, but I was told on the phone it was because I am more than 12 months behind. I am more than 12 months behind, because they keep denying the modification and never sent up a trial payment. I told the guy that and he told me it is no excuse for being behind. I explained I lost my job and then he back tracked and said he was sorry, but how rude. I had never been behind on my payments, even through a divorce. When I lost my job I was already paycheck to paycheck. I already owe almost twice what it is worth now. I would think they would be happy I am still willing to pay the whole thing, I just need the past due put behind and my payments lower until I get back on my feet. Like someone else that posted, I raised my three children here and I want to keep my home. The government is trying to help us but Chase doesn’t want to let it happen.

    Posted on July 19th, 2010 at 2:13 pm

46. Carrie G. Said,

    I’m dealing with the same bullshit. I have filled out the paperwork correctly and included every single piece of documentation they requested repeatedly for the last 9 months. Of course, I had to call every other week or I may never have discovered I even needed to provide more information. I called about a month ago and was told I had been denied as of that day because I was missing a docment. I informed the woman I spoke to that the documents had been faxed 2 weeks before and she was able to confirm that. She then said the only way to reopen it was for me to fill out the original form again but I would not need to turn in all the paperwork again.

    I now understand that those who answer the phone can and will say anything they want because there is no reason not to: “30 to 60 days to make a decision”, “we have received all your documents and you should get an answer in 2 weeks”, “look for a fed-ex package in the next week”, “you won’t need to send all the documents again”, “a supervisor will call within 48 hours”- ALL LIES.

    I honestly believe they purposely continue to create delays by telling you everything is in order and then 2 weeks later when you call they inform you that your bank documents or paychecks are outdated and they need new ones. I asked who reviews the information? Who can’t see that my paperwork was in before I was denied for missing paperwork? Why isn’t there someone who can answer these questions and actually LOOK at the paperwork?It’s a painful joke. I’m fed up and plan on filing a complaint and sending a letter to everyone, including Chase, President Obama, newspapers, Suze Orman and anyone else I can think off. I am changing banks, taking my checking, savings and credit cards to someone else. I am angry and sad and regretful.

    Posted on July 22nd, 2010 at 10:53 pm

47. Veronica Said,

    Carrie G.

    I am sorry you are having problems with Chase and so many of us are having the same issues. I too, have sent in all my documents but thank God they received them. I received my package and was granted a trial period of 4 months of making new payments which I completed this month (July 2010). I called Chase and was told that my file is being reviewed and I asked them what am I to do with August payment. I was told to pay the same trial amount and that if I am denied I will get a regular letter in the mail but if the modification is approved I will get a FEX letter. To date I have not gotten either one but I have gotten a regular statement with a coupon to pay August’s mortgage with the new trial rate but the statement shows that I am still owing $11K and that I am incurring late payment fees, etc., etc. Now, can someone please explain to me why am I getting this statement if I have filed for modification and seemingly Chase has approved the modification based on my completing the 4-month trial period. I can no longer deal with the incompetence of Chase but then again I cannot believe Chase could hire people who are so inefficient. I personally think this is all a ruse on Chase’s part – they have no intention of granting us a loan modification in the first place; if they did all of us could not have the same bad experience. I simply wonder how people can live for months and sometimes years dealing with these people at Chase. I am getting ready to call them today and I am dreading it – it drains me just to place a call to them but I am going to suck it up and call them and hear what they say. In the meantime, I sent in August’s morgage yesterday.

    Posted on July 23rd, 2010 at 12:38 pm

48. Tom Said,

    I applied for the loan modification with Chase and waited a year before they considered me for the loan modification. I’ve gone through there trial payments for 4 months and now Chase has sold my loan to a different bank. Im afraid I may have to start over because of that. Chase sucks. Chase is not here to help us like it says in their newsletter. I say we pull out all of our money from Chase as a whole nationwide. The governement should have let all the banks collapse rather than bail them out with taspayers money ( thats us ) . Government owned banks! Chase sucks!! Chase could have helped the homeowners keep their home in turn building great customer service/draw in more customers. They would still make money from each loan and make a customer/homeowner happy.

    Posted on July 28th, 2010 at 4:26 pm

49. Tom Said,

    Is there a government website where we can send in complaints or lawsuits against all the banks so that the governement can step in and oversee all loan modifications?

    Posted on July 28th, 2010 at 4:28 pm

50. Tom Said,

    No more bailouts for banks. President Obama need to take back all the money he spent to bailout the banks. Let the banks collapse! Banks are like legalize loan sharks!

    Posted on July 29th, 2010 at 4:59 pm

51. Tom Said,

    Im with you Carrie G.. I just sent in my August (4 th trial payment on time ) and during my trial payment, Chase sold my loan to another bank. Very cheesy!! Hopefully, the other bank will process my loan modification quickly to keep a customer. Otherwise, its just another corrupt bank.

    Posted on July 29th, 2010 at 5:01 pm

52. Tom Said,

    To the admin,

    already gone thru all the correct channels and submitted repeated updated documents for 1 year. Already going thru trial payments and no final decision yet and Im on my 4 th trial payment. So where is the final decision on the 3 rd trial payment? Chase sold my loan to another bank, so what is that all about? Chase is a piece of you know what! I have not found one good success story about a loan modification with Chase.

    Posted on July 29th, 2010 at 5:06 pm

53. Tom Said,

    I say everyone nationwide should withdraw everything from Chase banks. Im pretty sure there are homeowners out there that has connection with the government and relay a message to President Obama and get some kind of martial law over the banks to see the loan modifications are being done correctly and in a timely manner.

    Posted on July 29th, 2010 at 5:09 pm

54. Lynn Said,

    So in reading all these comments, I had to submit my own frustrations. First, I’m SO glad to see that I’m not the only one who is completely at their wits end with CHASE. I applied for their loan modification process in mid-December of 2009. I had been laid off as a teacher and was struggling to meet all my bills. My parents and boyfriend help out with some, but I have nearly maxed out my credit cards and pulled my entire teacher’s retirement. All this and more was included in the hardship letter that CHASE requires. I filled out everything they asked and submitted all the necessary paperwork. Then, the fun began. I was to call back every two weeks to check on my status; I called every week. Each week, nothing had been looked at. It took until February of 2010 for my file to even be processed!!! Fine…at least they had reviewed it. I understood the flood of applicants, so I expected my file to be taken care of quickly. Well, I was wrong..WAY WRONG. I had to resubmit the exact same documents again and begin calling each week to check. As I would call, I would be told that all was fine and things were on track. Then I called at the end of one week, only to be told that my file was on hold due to some missing paperwork, even though I had been told at the beginning of the week that all was fine!!! So I faxed in more information and kept calling. I was assigned a “case manager” and was told that my file went to the underwriter. Well, then as I called I was told that I needed to resubmit even MORE paperwork. When I asked the person why I was being asked to repeatedly send in this info, she was unable to answer. Little did I know that your bank statements are considered void if it’s been longer than 60 days. Well, with CHASE sitting on my file and dragging things out, the statements went cold. BUT NO ONE BOTHERED TO TELL ME WHEN I CALLED TO CHECK ON THINGS!! I eventually called their executive customer service line to complain about being jerked around. The man was helpful, but at this time my file was handed off to another “case manager” without my knowledge. I never was contacted by my old “case manager”, and was surprised to receive a call from someone who told me they were know handling my file. Again, I was asked to submit documents, including a new hardship letter, tax form, etc because so much time had passed. I can never get in touch with my case manager and have just been told that I need to resubmit, yet again, a huge list of papers. It will be the third or fourth time I am sending this information to them!!! This process has taken over 7 MONTHS and there is no end in sight. I am tempted to shut my file, wait a month, and try again. Maybe the bugs have been worked out. IF I can get away from CHASE I will RUN NOT WALK TO THE NEXT BANK. I’ve never missed a payment, due to the help from my parents and myself, which may be the reason why I”m not getting processed. But my credit is too valuable to me to have it get screwed up for the sake of a bank’s attention!! I am SO unhappy with this process and this bank. I thought this program was supposed to help those who were in need, but instead it’s creating more stress and confusion!!!

    I’d rather scrimp and scrape by than deal with this bank. Some things just aren’t worth your sanity. If anyone knows some tricks to get this process rolling, I’m listening!!!!

    Posted on July 29th, 2010 at 8:56 pm

55. admin Said,

    Fortunately, I have had quite a few homeowners receive a loan modification from Chase under the HAMP program. As you may know, Chase has home retention centers located across the country where you can actually walk in and speak with a counselor. IF you are not getting anywhere with your application, I would suggest making an appointment at the closest Chase loan modification center, then take in your application and income docs so that you can actually sit down in front of someone and not leave until you get results. I would highly recommend that your review your application before making this appointment, though. You need to make certain that your financial statement and your debt ratio fit into the program guidelines. If you are not sure how to do this, you may want to use a software program that will calculate it for you. The Loan Mod Quick App mimics the federal approval guidelines and will tell you instantly where you may need to fine tune your budget. Visit http://www.myloanmodificationcenter.com for more information and more free information.

    Posted on July 29th, 2010 at 11:51 pm

56. Tom Said,

    yes did you hear that? only a few homeowners out of 1000s? The government already gave the banks the funds to help homeowners. So shouldnt it be 1000s of homeowners with approved loan mods? nope..banks took the money and reinvested elsewhere rather than help their customers/homeowners.

    Posted on July 30th, 2010 at 5:49 pm

57. Tom Said,

    Lynn

    lets see if you will get the same result like ive been getting. they will prob put you on a trial payments and after the 3rd or 4th trial payment they will sell off your loan to another bank and have the other banks deal with you.

    Good luck with your loan mod. I would rather starve each month w/ the payment i was making rather than pay the trial payments and get late fees and charges added on top of it each month even though Im not late on my payments.

    Corrupt banks and too much greed in the world!!!

    Posted on July 30th, 2010 at 5:55 pm

58. admin Said,

    The Chase loan modification process can be extremely frustrating and that is the reason that so few permanent loan mods have been completed. Effective this last April, the HAMP process was streamlined by the Feds, allowing for much less paperwork and a short approval period. In addition, once you begin the trial modification period and complete all 3 payments on time, the mod becomes permanent AUTOMATICALLY. The goal of this new process is to ensure that those borrowers who qualify and prove their ability to pay by completing the trial period are rewarded with a permanent solution. It appears as though Chase has not yet implemented this process, especially on those files that were already in process before April 2010. It might be worth the effort to start the application process all over again with a new application package-just to fall under this new streamlined HAMP loan modification program. It is critical to prepare your financial statement correctly so that your debt ratio, asset ratio, target payment, and other approval triggers are met. If you are not sure how to complete your forms, there is a software program that mimics the federal approval guidelines and will help ensure that your application meets the federal guidelines. To get more information on this software, visit http://www.myloanmodificationcenter.com

    Posted on July 30th, 2010 at 7:16 pm

59. Tom Said,

    n what? start a whole year and half process again?

    I was approved for the loan modification and they gave me the trial payment coupons for 4 trial payments. ALL PAID ON TIME..ALL 4 TRIAL PAYMENTS PAID ON TIME. THE 4TH TRIAL WAS PAID JULY 29TH FOR THE AUGUST PAYMENT?

    admin,

    you are probably just following your scripts on what to say. Read the above comments from numerous applicants, is there one success comments?

    If you truly believe the banks will go thru with the loan modifications for homeowner, why not have the CEO/president from each major banks make a public announcement that they will do whatever it takes to help the customers/homeowners.

    Since the government is printing the money, they should control the banks or watchdog over them at least.

    im tired of this. Im sure every other homeowner in the US is tired of the banks runaround too.

    Posted on July 31st, 2010 at 6:53 pm

60. Veronica Said,

    Tom – I am in the same boat as you are – made my 4th payment in July for August 2010 and to date I have not heard from Chase. I was told that I was approved I would receive notice via FEDEX but if I was denied then I would receive an ordinary letter via the postal service. Well here we are August 9th and I have not receive either a FEDEX letter or a snail mail instead I received one of those statements showing the temporary payments plus they are still demanding the 11K and the amount keeps getting higher because they are adding on fees and what penalties. I feel like I am going crazy – I may as well pack my suitcase and check into the mental hospital.

    Posted on August 9th, 2010 at 3:22 pm

61. judy Said,

    Please take my advise and hear me when I say that No one should apply for a loan modification with Chase. We have been in this process since June of 2009 and we are about to lose everthing. We had decent credit prior to applying, we paid our trial payments every single month throughout this process, and we mailed, faxed and Federal Expressed numerous pages of documentation requested of us by Chase, consistently and constantly. The result being . . . we are “still in the process” , our credit has been completely ruined, we look like crap on paper and are now desperately trying to find away to pay for our son to attend college, find a way to purchase a used vehicle so I can continue to work, and more, so much more. Keeping in mind please, that prior to us applying, none of the above would of been an issue and is all due to Chase ruining us. As of today, I contacted our Senator’s office and requested a referral for legal represenation. We’re done being the good puppets and it’s time to set things straight. So please, take my advise and do not apply for a modification with Chase. If anything, with the rates where they are now, hopefully you should be able to re-finance now. Lastly, I am a very detailed person, and since the very start of our applying for a modification, I have kept a time-line of every call to and from Chase bank, as well as documentation of every thing requested and sent to them. This material is kept in a 2inch binder and get’s bigger by the day. If anyone is interested in seeing the process and the garbage in involves, lies, stall tactics, etc., please feel free to contact me at jc-chase@live.com. It’s an incredibly eye-opening account of the dealings with Chase. Good Luck everyone.

    Posted on August 17th, 2010 at 3:11 pm

62. Tom Said,

    Im like you Judy. I keep detail calls and all documents. My loan was wih Chase. Chase approved my loan modifications and gave me trial payments. I paid 3 trial payments on time. On my 4 th trial payment, Chase sold my loan to IBM lender. Chase cheesy way out of finishing my loan modification. Now the new bank (IBM lender) has not fully received all paperwork from Chase. I called the new bank and they have no record about a loan modification that I was working Chase and told me to wait 15 days for the documents to fully transfer over to them. Well its 2 weeks now, I called them 3 times and I couldnt get thru to anyone and was on hold for 20-30 mins and still no answer.

    Im fed up with Chase. The IBM Lender bank is not helping the situation either. All banks are the same unless i hear different.

    Anyhow, I hired myself a loan mod lawyer.

    if anyone interested, leave your email and ill email you the lawyers information.

    Posted on August 20th, 2010 at 5:24 pm

63. Dave Said,

    Wow, I have never seen so many people with the same problem we have to the “T”. I feel it is time to get a lawyer as well. I just got denied for the 3rd time. Once was because I have too much equity in my home. Second was I made too mauch money per month. Third was I did not make enough. Nothing has changed since we started this crap. Lets face it, they are trying to take your house if you have equity to make up for thier losey loans they made when this all started. They can make up some of the losses if they steal from hard working people. We are about to go into forclosure and I will fight these people till I get a satisfactory result. I will also encourage all of you to keep checking for class action litigation in the near future as it will surely happen. Obama is in bed with the banks as well. He leaves it up to THEM to make the final decision on your mod even if it is a HAMP loan. Belive me when I tell you I have researched this far and wide and if someone or some site tells you differently, they are liars plain and simple. Get a dang lawyer if you can afford it and fight these gang members in suits as they care NOTHING about you and your family.

    Posted on August 28th, 2010 at 7:24 pm

64. M. Ware Said,

    Well, it seems the frustration limit is very high here.

    1. Is your loan with chase or is chase the servicer of the loan?
    2. Is your loan insured via Fannie or Freddie (each have a loan lookup tool to answer that question)?
    3. If in a trial period did you read the conditions of the trial period payments?
    4. Have you reviewed the stipulations of the HAMP program concerning all aspects of the Federal Modification Program?
    5. Did you tailor your modification request to your exact situation or did you do a cookie cutter submission?
    6. Did you calculate your GROSS income and determine if your current 1st mortgage debt to income was more than 31% (principal, interest, tax, insurance, HOA if applicable)?
    7. Did you correctly factor rental income at 75% as a part of your GROSS income?
    8. Did your TOTAL income come to within 200 to 300 dollars more than your total debt load?
    9. Did you isolate all items necessary to your submission and update your file each month to keep it current and available if needed by the modification team?
    10. Did you call every other day to insure there were no problems with your submission?
    11. Did you keep a conversation log detailing, among other things, date, the purpose of your call, who you talked with, the resolution to the problem you called about, any other information they provided, and any other telephone numbers they asked you to call (and the log file for that call also)?

    Here items you need to research…

    1. Qualified Written Request…this is used to determine all factors associated with your transaction. It can also tell you who your investor is and get the Pooling and Servicing Agreement under which the servicer operates in dealing with a potential lost to the investor (modification of the terms of the loan repayment).
    2. Payments in excess of the contractual Trial Period payments can be reason for decline.
    3. Foreclosures stop but can be restarted if you violate the terms of the Trial Period Plan.
    4. Normally the firm you talk with concerning the submission of your documentation is a third party and only contractually associated with the lender (for chase this is currently true).
    5. Documents submitted via the approved Trial Modification process are sent to Chase, entered into a database, and the database file is made available to the third party you are talking to. Subsequent to that, you can send items directly to the firm you are talking with.
    6. The basis to calculate the payment plan rests on potential of return from foreclosure versus making a modification. It is based on the Net Present Value and is called the NPV test.

    I have just been approved for a Modification with Chase that took over a year and at least 12 different information requests for the exact same documents (fingers still crossed), was declined for “hardship not being permanent,” was declined because of income factors, and had conversations with a least 25 different people who gave me at least 10 different fax numbers to submit my information. After the decline for the hardship being temporary (fiance died and job income was cut in half), I contested that decision then was told my income was insufficient (contested that and won because I could quote the rules concerning the 31% target). I then resubmitted and called every three days until they told me the files were in the system. I then called every two days asking if there were any additional documents needed. I caught them twice telling me everything was fine then calling and finding out they needed additional info.

    So, you can win! But it is a daunting task. But patience, a calm attitude, and a willingness to let people who do not know exactly what they are doing lead will win the day. Just know the rules about what your are asking for and don’t take no for an answer. And above all, be courteous! Do not give someone you talk with over the phone a reason to “drop” your file “accidentally” behind the desk or in the shredder.

    Oh, yes about the documents being shredded. Remember, your file is being looked at by a third party hired to interact with you. This allows the lender to keep their workforce low and not be concerned with hiring people who will need to be fired later. So, the firm you talk with will more than likely shred the paper they have but the main documents are with the lender. Just a thought on that.

    Posted on August 31st, 2010 at 9:13 pm

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