In Sept of 2008 my contracting business was very slow and I fell behind 4 payments on my lake home. I contacted my lender, Chase Bank and explained the situation. I requested the modification and the manager at that time put me on a 3 payment “Trial” payment of $1800 a month, $650 more than normal PLUS a $5000 downpayment. I thought this was odd but never having done this before I agreed. After scraping up the down payment and making the 3 payments I was then placed with another manager. This one told me that things had changed and I would be required to make a $2500 down payment and 5 payments of $1200.
By this time I was very leary but this was my lender and I didn’t know I had any alternative. After these payments were completed, I called to check on the process I was again placed with a new manager that informed me that the Obama law was in affect and that Chase did not require any further payments and that my modification should be forecoming.
That was October 09. At that time I was only 4 payments behind. It is now November 2011 and I’m STILL awaiting my modification but now I’m 27 months behind and my home is and has been in Foreclosure status. I have sent so many “Request for modification packets with updated bank statements and documents that I’m worn out. I now think Chase is a total scam but therre is no where to turn. I just wait on news that they are foreclosing on my home and they didn’t do a thing after all the required money was paid and no credit was given.
The actual investor is Wells Fargo. What ARE they waiting for?? By this time Chase should just offer me a low interest rate modificaition and let me get back to my normal monthly payments since they have SO many homes to deal with. I NEED HELP!
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