Chase Home Finance - Chase Manhattan Mortgage Trial , Modification are Lies to make you fall behind and Chase can Foreclose ! Florence, South Carolina
I am having severe financial problems and have been
trying to work
with my mortgage company Chase Home finance since Jan
2009 on
having my home loan modified. I have applied for aloan modification
numerous times needless to say I am just being given the run around.
It took 6 months but
finally I got an answer after contacting the
BBB in July 09 they were offering to put me in MHA trial pay plan starting Sept 09 they gave me a
reduced payment of 940.33
per month, my original payment was
1567.94 by me paying this reduced amount my mortgage is now behind
6,600 dollars because they have not modified my loan in the time frame
they stated which should have been 1/1/2010 according to MHA
guidelines.
I am afraid they are setting me up so they can just foreclose
on our home. I call everyday and still no answers. I have had 5
different cases opened in the
Chase Executive office. And it
seems that they all say the same thing I just got your case. Or I have
to go through the file. Or the best one yet you have to send an
updated packet??? I thought I did 14 times. I thought Obama's
plan was supposed to help people not make them lose there homes.
But obviously the banks dont know what they are doing or they would
have never been in trouble in the first place. Thats
what greed
gets you. When my home was purchased in Sept. 2005 I believe I was a
victim
of Predatory Lending I was given a $175,000 loan on a $ 32,500 a
year income.
Which means I only had a $2700.00 gross income plus a
250.00 monthly
obligation and they choose to give me a $ 1464.00
Which was 100 % of my monthly
income. I did have a second income
in the house when I bought it, which I do not have now. I am a 32 yr
old single mother who works full time and I adopted my 4 yr
old
daughter in Sept 09
who has special needs she has been living with me since March 2008.
My expenses have increased due to having a child in the house
and
losing my additional income. I am also just went into year 5
of 5/1
arm loan. Which means my monthly payment is due to increase
in Oct 2010.
My
Mortgage payment is currently 56% of my monthly income not
including any other bills or expenses. I have exhausted all of my
options including debt
management who will not accept me due to
my debt to income ratio. I
have lost an income, adopted my 4 yr old
who has special needs,
and have incurred a new monthly bill for day
care services and higher
transportation costs for doctor's trips. I
would like to have my loan modified
so I am able to keep control of
my finances and still be able to pay my
mortgage payments on time. If
there is anyone out there that can help me get my
loan modified I
would be truly grateful. I am afraid Chase is setting me up
so I
become so far behind they can just foreclose on me. I was never late
on any payments to anyone. I am being responsible for my own debt. I
have made 9 consecutive payments under the MHA trial plan to Chase.
Now I am 6,600.00 dollars
behind and they have noted my
credit report. I am trying to fix this before my 4yr old
daughter
and I are homeless.
4 Updates & Rebuttals
Joanne
Mason,Texas,
United States of America
Your not alone!!!
#5Consumer Comment
Wed, August 18, 2010
You are not alone. I filed with Chase and they tried to steal my home out from under me without any notification.
I have just concluded a class action law suit against another mortgage company for unfair lending practices. I have decided to contact the three attorney's officies that handled this case and see if they would be interested in taking on Chase bank. I will refer them to this Rip-Off Report so that they can see all the people that are filing complaints for the same unfair practices. Hopefully they will put an end to Chase's unethical practices.
As for the person that said that it was your fault, sometimes you are not aware of what is being done to you. With my first loan company they gave me a loan on a home that they appraised at 120,000.00 and said that if I paid my payments for one year on time, I could refinance with them for the lower percentage rate. One year later they informed me that they had made an error on the original appraisal and that the home was only valued at 90,000.00. So no refinance and my percentage rate remains at 11.99%. This was the class action lawsuit that was just settled.
Lets see what happens now.
Roxy08
palm bay,Florida,
U.S.A.
A victim of predatory lending????
#5Consumer Suggestion
Thu, June 17, 2010
First I would like to address your comment on predatory lending. Did the mortgage officer threaten, scare, or intimidate you into signing your "bad" loan or did you sign that loan yourself knowing how much the monthly payment would be and how much you could afford? And were you aware you were signing an Adjustable Rate Mortgage?
Second, Obama's plan... aka MHA or HAMP......... the guidelines change so often by the treasury it seems it would be d**n near impossible for the banks to accomplish anything. From what I read from reliable sources the Treasury was putting freezes on modifications at the beginning of the year and they are constantly rolling out new policies and yes those policies apply to all the loans waiting for a modification regardless of when the information was received.
Third, outside companies that claim they will modify your mortgage lie. The only thing that can lower the payment is a modification from the bank. You can always contact the Treasury and get an escalation from there. Which I would call them now if I were you.
toast314
Pennsville,New Jersey,
USA
I Can Read Can you !
#5Author of original report
Thu, May 27, 2010
I have been very responsible , How can the bank base a loan on a 2nd income if they are not a borrower on the mortgage ? I am the only borrower always was. I have a stated income loan, not a No Doc loan. I am not a mortgage broker I gave my info to my mortgage broker the bank is the one who tell you if qualify. Had I known my fiance was gona cheat on me I would have never took out a loan on a new house.
Susan
This City,Illinois,
USA
You said...
#5Consumer Comment
Wed, May 26, 2010
You said "When my home was purchased in Sept. 2005 I believe I was a
victim of Predatory Lending I was given a $175,000 loan on a $ 32,500 a
year income. Which means I only had a $2700.00 gross income plus a
250.00 monthly obligation and they choose to give me a $ 1464.00
Which was 100 % of my monthly income. I did have a second income
in the house when I bought it, which I do not have now. "
You can obviously read and know simple math. Was a gun put to your head at closing forcing you to sign? How is this the banks fault?
You said you did have a second income when you bought the house. I am sure the bank used that as a basis.
Also in the mortgage mess, who was your orginal lender before Chase bought the bad debt.?
Talk to they government, I am sure they will bail you out.