Last July, I contacted Chase Home Finance and asked if I could apply for the Obama plan to keep my home out of foreclosure. I had gone thru a nasty divorce 3 years earlier, laid off from my job and took one with a massive pay cut, and was unable to afford the almost $1000/month mortgage. I was only bringing home $1424 a month and trying to raise three teenage daughters with no financial support from their father. *The loan was taken out when I was married.* Now, at the start of the trial payments, I was on workman's comp as well and explained that to them. They wanted a copy of my divorce decree and a letter about the WC. I faxed that to them ASAP. I then began my trial payments and didn't miss a single one and was on time. In January, I received the "final" paperwork which I signed immediately and sent in with all requested documentation. I fulfilled every request that was listed in the modification request. When I didn't hear back from them, I called and they told me my paperwork was incomplete because my ex husband didn't sign the paperwork. I explained to them AGAIN I was divorced and even in their own contract it clearly states he doesn't have to sign it since he didn't get the house in the divorce. I pointed out the section and subsection of this information in their OWN CONTRACT. After me calling repeatedly, I finally get a call back saying they need a copy of my divorce decree for a THIRD time along with a quit claim deed signed by my ex husband. I gathered the documentation and faxed it in again. I then spent the next three months calling and asking "What do I need to send in as a payment?"..."We can't take a payment from you. There is a stop on your account because they are reviewing your information." I even asked "Are you going to try and charge me late charges or declare me delinquent even though I keep trying to pay you?"..."No ma'am. There is a stop on your account. There is nothing you and I can do." I then receive a letter from them on June 7th, 2010, that my modification was denied because I "requested a withdraw from consideration" or "failed to accept the Trial Period Plan or Home Affordable Modification within the required time period". When I called Chase, they said I hadn't made a payment since Sept. of 2009 and that I owed them over $10,000 including late charges. When I asked why the modification had been denied, they informed me that it was because my ex husband refused to sign thus nullifying the application. WHAT? ARE YOU SERIOUS???? I then explained everything that has happened since July of 2009 and broke down crying. I've never been more frustrated and more upset. How many hoops can one jump thru trying to fix a situation and only getting the run around? Anyone else with this problem?
Renting & Real Estate - 3 Answers
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1
Visit this discussion forum: http://www.loansafe.org/forum/register.php You will have to register, but will find a ton of people in your same situation
2
This actually happens more often than most people think. You need to remember that there are tons of other files that are also being processed and most lenders, if not all, are understaffed and simply don't have the resources to get this done right. Is it fair? No, but it is what it is. The best thing you can do is have an organization that can do this for you for free. There are many others that are great that charge a fee, but you will find good ones for free. It saves you from some of the headaches, worries and stress that comes with this process. Plus, they are able to deal with roadblocks and issues that arise as they are trained negotiators.
3
Put your tax dollars to work. Go to your local senators office (Make sure you go in person) Explain your situation to them and make sure you have all of your documentation. They will be sure to help. Go to each one Democrat and Republican who represent your area. Next go to the news channels and newspaper. If you are not shy and take the offensive to what is occurring to you then you may be able to turn the tide. I would also seek a more efficient organization to represent on the loan modification process. The best ones stay in contact throughout the process so nothing would slip through the cracks. The lenders have incentive to get loan mods done since the TARP is providing them $1000. just for getting a person in a temp mod which can convert to a permanent mod with as low as 2% interest rates!!!!
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