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The people at Chase are IDIOTS...rant

Posted by on Jun. 3, 2010 at 2:14 AM
  • 14 Replies

When President Obama announced his Making Homes Affordable program last year, I applied for a loan modification with my mortgage servicer: Chase Home Finance. I was approved for a temporary loan modification and my payment was reduced about $200 a month. Fantastic right? WRONG.

Month after month they would claim that they were missing a document needed to finish my file no matter how many times I sent it to them. Finally, they sent me a letter saying I did not qualify for Obama's program, but for one of their internal programs. The problem is that the modification they sent to me INCREASED my original monthly payment and increased the principle due my home. I would not sign it. I called (several, several times) and was told my income was too high to qualify. How in the hell is that possible?

I found that they were including my child support which is scheduled to end within the year and they are not supposed to unless I request that it be included and should only be included if it is expected to last more than 2 years. Problem 1

Problem 2. I am on disability. When you have employer sponsored disability, you are eligible for a percentage of your base salary. In my case, 60% of what my income was in 1995 when I went on disability. If you qualify for any other pension or Social Security, that amount is deducted from what they will pay you so that you are not getting paid more than when you worked. Simple, right?

Not for the idiots at Chase. They have taken the base figure used to calculate my maximum disability amount from all sources (which includes a set off amount of Social Security), the actual amount I qualify for in Social Security, AND the amount of Social Security that is deposited into my account. They are counting the Social Security amount 3 times. Every time I get a person to understand, they seem to disappear off of the face of the earth. I get told to write a letter. I have done that. I am told to document this. I have and have sent in my income tax return which lists my income from disability and Social Security.

Today, I got an intent to foreclose letter. Since I won't agree to INCREASE my payments which was based on faulty figures, they want ALL of the money that was reduced in the temporary modification NOW. THEY created this situation because they can't add.

I called the insurance company and asked for help explaining this. They don't understand why it is so complicated. Neither do I, but I am dealing with nuts.  I went to the frequently asked questions on the insurance site. one of the questions is: "What happens if I am receiving other sources of income? Answer: Long Term Benefits are reduced by other sources of income to which you may be entitled such as Short Term Disability, Worker's Compensation, Employees Retirement, Social Security Disability benefits for you and any of your eligible dependents and other group benefits  This reduction is called integration with other sources of income."

I pray to God that they understand this. If not, I could lose my home due to their stupidity. If I received 3 x the Social Security amount, I would not have trouble paying my mortgage. FTR: I was behind ONE month when this started due to medical bills. Now, I am behind more because they temporarily reduced the amount while working on the final modification..

by on Jun. 3, 2010 at 2:14 AM
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Replies (1-10):
tomatoqueen
by on Jun. 3, 2010 at 2:39 AM

BUMP!

adri_nevarez
by on Jun. 3, 2010 at 2:42 AM

oh man... that sounds like a mess.  i don't trust lenders, they tend to get everything to work to their advantage.  i wish you the best!

FL2AK
by on Jun. 3, 2010 at 2:51 AM

I am so sorry that you are going through this. 

Mamamanic
by Silver Member on Jun. 3, 2010 at 3:08 AM

Might want to look up the people to contact who are in charge of the program. I have had bad experiences with chase based companies and they are by far the less likely to bend one inch.

hopinforanother
by on Jun. 3, 2010 at 3:16 AM

Sorry. We don't qualify either. Our lender is BofA. The payment (including HOA fees, taxes, and insurance) has to be 31% or more than your GROSS income (before taxes). Ours is only 28%. Darn. Missed it by a hair.

My husband said his coworker paid a company called Platinum Financial to get the lender to modify the loan. I'm not willing to try it but you're welcome to look it up. He was denied at first but the company somehow got it approved.

We are not late but we are short selling. My house has been on the market for 6 days. We have our first lookers tomorrow at 1 pm.

hopinforanother
by on Jun. 3, 2010 at 3:17 AM

I have 2 friends that work in loss mitigation for Chase...maybe they can tell you who to call...I'll brief them on your situation and see if they have information.

tomatoqueen
by on Jun. 3, 2010 at 3:54 AM


Quoting hopinforanother:

I have 2 friends that work in loss mitigation for Chase...maybe they can tell you who to call...I'll brief them on your situation and see if they have information.


Thanks. I could understand if I really had an extra $1500 a month in income. l meet the federal income requirements. I just can't get them to understand that they are counting the Social Security amount 3 times.

I finally found the benefits book given to current employees. It gives an example of what happens to people who are eligivle for both long term disability and Social Security. I am going to send a copy of that and pray that it works.

tomatoqueen
by on Jun. 3, 2010 at 4:01 AM


Quoting hopinforanother:

Sorry. We don't qualify either. Our lender is BofA. The payment (including HOA fees, taxes, and insurance) has to be 31% or more than your GROSS income (before taxes). Ours is only 28%. Darn. Missed it by a hair.

My husband said his coworker paid a company called Platinum Financial to get the lender to modify the loan. I'm not willing to try it but you're welcome to look it up. He was denied at first but the company somehow got it approved.

We are not late but we are short selling. My house has been on the market for 6 days. We have our first lookers tomorrow at 1 pm.

My percentage when child support is not included is 43 percent; with the child support which will last for about 11 months it is 38 percent. With the income they have dreamed up, it is about 26 percent.....a HUGE difference.

Good luck to you. I don't want to leave my home.  I would have no where to go and my house needs to much work to sell.

hopinforanother
by on Jun. 3, 2010 at 4:03 AM

Do you have bank statements and income tax records to prove your income for the last 2 years?

skyelyns_mommie
by on Jun. 3, 2010 at 4:05 AM

chase is run by nothing but fing retards ( sorry to use that word!) they are coming after me over a student loan! i applied over a year ago and got the plan were i don't start paying till i'm out of school 6m, ok great until i got pregnant and have to be put on bedrest at 24wks so i had to stop working and going to school, well after i had my daughter they came after me for the repayment i told them look, i had all these problems, i don't have a job right now and yes  i dropped out of school cause hello dumb fuck i was in the hospital on bedrest!! i got one guy to listen to me, now i am back to work but i'm months behind on alot of things and just got up to date so i own them like 500, so what do they do?? call everyone who has my last name, even if i'm not related to them, trying to come after me!! wtf thats not legal, i have fought and augreed with them and yes everytime one person seems to understand and make a note i never hear from that person agian and they can't be found!! i'm so mad at them i could scream!!! i sent them the papers showing i was in the hospital and had my fing doctor write them and yet they don't want to help!! grrr chase needs to go bankrupt thats my thoughts keep your head up sweetie don't let dumbasses get you down

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