In Good Faith-I Have Done My Part But Chase Might Still Foreclose

by Caroline
(Rock Hill SC)

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In Good Faith-I Have Done My Part But Chase Might Still Foreclose

Chase had $800 in suspense (my original payments were $896) when I entered a trial modification for $781/month.

I sent Chase the 1st payment certified mail.

I then called Chase to ask if I could use the $800 in suspense to make the second payment. The Chase Rep said that some of that $800 went to fees and I would have to add twenty dollars to it, I did get her name and confirmation number.

I made the third payment by certified mail.

I had not heard from Chase by the time the first rolled around again so called and the Chase Rep that answered the phone said continue to make the same payment amounts until I hear from them.

On 25 Feb I made the next payment, I did not send this through certified mail since this was not a trial payment.

I called on the 1st to see if Chase had received the payment, they had not and instructed me to give it a week then call back the following Monday to see if it had posted yet.

I waited and called back, to my surprise they canceled my modification stating I did not make the three payments.

Apparently they were not suppose to take monies out of suspense for a payment and therefore did not count my second payment. Chase thought my Feb payment was a very late 3rd payment.

After several attempts I finally was able to talk with my Chase relationship manager. She said she would speak to her manager to open the modification back up and in the meantime I was to send in my updated information because they would need that for the permanent modification.

I faxed all the requested update information that same evening.

The next day I called to make sure Chase had received the fax (they had) and was told I had a new relationship manager but she wouldn't be in until the 14th.

To make this long story short, I am now in debt further (thousands) than I was before I first started this journey.

I do not have enough money to stop a foreclosure and I am scared I will loose my home if this ball gets dropped again.

I am chasing my tail trying to figure out what to do now. Please advise!!!

Chase Mortgage Loan Modification Answer:

by Chase Mortgage Loan Modification Expert - Dan North

It looks like you are handling this with the Chase Loan Modification Dept very well so far, since you have names and dates of what was said and by whom. You should be able to handle this with Chase.

I am assuming since you have trial modification payments that this loan modification is under HAMP Guidelines. In that case you did not go over the deadline for getting your 3rd payment in even if Chase did not credit you for the money in suspense. You had 60 days from the due date, since you made payment before 30 days were up you are fine.

Make Chase Honor Their Agreement Made With You By Their Rep

I would argue your case for using the suspense monies for your 2nd trial modification payment. If Chase received the check for payment and cashed it they have accepted the payment even if not credited to your mortgage. When the Chase Rep agreed to accept that suspended payment toward your 2nd trial modification payment with the additional $20 sent they were obligated to honor that agreement even if the Chase Rep was mistaken.

Climb The Chase Chain Of Command To Get The Help You Need

If the new Chase Rep you have is not willing to do that ask if they have the authority to grant your request. No matter what her answer is ask to speak with her supervisor. There will be a supervisor there in the room who has the authority to honor that previous agreement and should. Be polite but firm.

If you are still meeting reluctance to having your request granted ask to speak with that persons senior or ask who you would need to speak with who could grant this request. Be very polite but firm.

Always ask for the Chase Rep's name and position when you first speak with them, write it down and ask them to spell their names for you. This makes it very clear you are taking notes and can report them.

Use Your Local Chase Branch Officers To Help

If you still need help you can go back to the original loan officer who granted your loan and tell them you need their help to straighten this out. You can also go to your regular branch (or local branch if not a customer) and ask to speak with the Public Relations Officer, Bank President or anyone you know at the bank. You can go to each if needed.

Many local branch personnel will bend over backwards to help if they can or put you in contact with someone who can. So be sure to tell you need their help and ask who they know who could help you if they could not.

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