Chase Is My Loan Servicer But I Believe My Investor Is Wells Fargo
by Traci C
(Granada Hills, California USA)
It has been 1.5 years of submitting pay stubs, tax returns and endless paperwork.
Recently I was approved for a modification and put in a trial payment plan, only to be told after five months of trial payments that Chase made a mistake and that the underwriter (whom they won't identify) did not check with the investor who owns the loan (whom they won't identify).
I found this out when I told the Law firm, that has been assisting me with this modification since November 2009, that I never received the final approval packet for my loan modification.
Now everything is on hold and Chase is telling me to continue making my trial payments.
Meanwhile Chase has reversed all the payments I have made and sent me a statement saying I owed them $20,000 which is a complete lie!
Chase screwed up my interest deduction for my 2010 tax return, and now saying that I have made no payments for 10 months when I paid over twenty thousand dollars to them in 2010.
What can I do to resolve this mess???
Wells Fargo Mortgage Loan Modification Answer:
by Wells Fargo Mortgage Loan Modification Expert - Dan North
It is very unusual for Chase to give your payments back and to tell you to keep making trial payments, at least you now have $20,000 to help in negotiations. You do have some options here though.
Ask Chase For Loan Modification Denial
Reason In Writing
Since you have no explanation for loan modification denial start with that. Chase is required to send you a written explanation for denial and give you an opportunity to correct the situation. If they are saying to continue making trial payments there must be some chance of correcting what ever mistake that occurred on modifying your mortgage. You will just have to see what they have to say.
Submit Requests For The Investors Name
And Review Of Loan Mod Denial
Follow the directions for making Qualified Written Requests at How To Save My House From Foreclosure - 3 Ways To Stop A Foreclosure Auction
and download the NPV Test (Net Present Value Test)
to see what variables you need to change to pass the test and send that as a counter offer.
Both Wells Fargo and Chase are participating in Mortgage Reinstatement Assistance Program
under the Keep Your Home California Program and you may be eligible for government funds to reinstate your mortgage
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Find out for yourself. Apply for no-upfront fee hardship loan modification even if you do not qualify for the Government Making Home Affordable Modification Program. You may qualify for a No-Upfront Fee Hardship Loan Modification. (Currently available in California, Oregon and Washington more states being added)DIY Loan Modification Kit
Are you looking for a DIY Loan Modification Kit that will walk you through the entire process of modifying you loan? Then read on. Gain the competence you need to submit and negotiate like a PRO - with real insider advice on how to negotiate a modification.See other Wells Fargo Mortgage Loan Modification problems, questions and horror stories like - Chase Is My Loan Servicer But I Believe My Investor Is Wells FargoWells Fargo Screwed Me!!!!!Not Sure What I Can Do About Wells Fargo 1st And Chase 2nd - I Need Help!Current Loan Modification QuestionWells Fargo Mortgage Loan Modification QuestionWells Fargo Rejected Our Making Home Affordable Modification Program RequestWhen Should I Stop Trying To Modify My Loan With Wells Fargo?My Wells Fargo Horror StoryWorking On An In-House Loan Modification With Wells FargoWhat Options Will I Have (If Any) With Wells Fargo?Divorced And Only On Deed Of TrustThree Trial Period Payments And No Modification From Wells Fargo. Help!!Wells Fargo Said They Made A Mistake