Hamp Underwriter:  Evidently you’ve forgotten that this whole mess was created because BANKS were deemed TOO BIG to fail.  They were the ones who ran to the government for money after nearly going belly up and almost bankrupting our nation. 

706 banks and financial institutions received $205 BILLION dollars in bailout money.  They failed by mismanaging their institutions, by selling off bundled mortgages as fast as they could and didn’t give a rat’s ass then about income documentation. They didn’t care if people qualified or not since they were going to sell it off to some other fool as soon as they could. They made billions doing so.  They created credit default swaps and other reckless (and worthless) financial ‘instruments’ to turn a fast back, and when it all blew up in their faces and came crumbling down, what did they do? Cried BOO HOO and ran to the government to save their sorry asses from failing.  And who bailed them out?  American Taxpayers.  They should have been thrown in jail.

In return, Treasury required all recipients of capital investments under the Financial Stability Plan to commit to participate in mortgage foreclosure mitigation programs consistent with guidelines Treasury released as part of its Making Home Affordable mortgage modification program. (excerpted from the Treasury Dept website-doesn’t sound VOLUNTARY to me)

In other words, IF they took the government bailout money, they had to agree to the mortgage modification program.  Only we all know it’s a sham and they have no intention of helping people stay in their homes. So they drag it out with lies, mistakes, lost paperwork, etc. etc. etc.

If this ever happens again (and it will), I pray we allow the banks to fail.  They are only a bunch of crooks in suits, and they all belong behind bars.

And you?  Has it dawned on you that your job wouldn’t exist if not for the bank bailout?  You’re Welcome.

I totally agree with Maureen.  If you are representative of the employees ‘helping’ people stay in their homes under the HAMP plan, God help us all.

~  Another Chase Victim on the verge of foreclosure after complying with the Trial Plan and Income Documentation Scam (I invested in my home with a $240000 (40%) CASH downpayment to keep my payments affordable, and lost ALL OF IT the following year when the housing collapse occurred - thanks to these crooks)

banks were forced to take money
banks were forced to give mortgages to people who could not afford them

you are right we want to drag this out we want you out of your home so we can make money by selling your home. NO!!! example fannie mae my community loan 100% loan for lower income people only required $500 from the borrower. banks were following fannies guidelines on income documentation. mortgage insurance coverage was 20%. Lets say the borrower took out a loan for $100,000 which meant they bought a home for $100,000 seller paid all closing costs. What that means was if the loan goes bad and the home is sold for $80,000 chase gets 80,000 plus 20,000 from the mi company. all good not!

here is the problem its 3am now but im still typing. now the problem the home is selling for 65,000 not 80,000 add 20,000 in foreclosure fees minus the 20% mi coverage and the bank is out 35,000. see my point even with mi coverage the bank still has lost money. it does us no good to not help you. we pray you will continue to pay on your negative equity. we want to help. thats the truth. the problem is most people are denied due to the governments guidelines. the government writes the hamp guidelines.

heres the sad part. lets say the banks fail that would be bad. therefore that cannot happen. therefore they must be bailed out. who pays for that you guessed it you do. your choice either walk away from your negative equity if all people do this the banks fail then you as a tax payer have to give them money for a bail out or dont walk away and give them your monthly payment on negative equity. the sad part either way the bank gets your money.

you people should be happy i am a hamp underwriter sometimes after i read a letter the borrower wrote i ignore the guidelines and take people down to 20% front end not 31%.

you want a mod dont write give me a mod my neighbor got one, give me a mod my living expenses have gone up.
more good advice from me.
write due to unforeseen circumstances i am forced to ask for your help. my current front end is 40% i am current which i know i will fail the governments imminent default test all banks have to follow. which means i will be denied for a mod per the government. but please ignore the governments guidelines that require the test to be done when a person is two months or less delinquent. please help i have always made my payment i can now only pay 50% of my payment i paid 50% last month and 50% this month I show a HUGE ACCEPTANCE TO KEEP MY HOUSE unlike other people who just give up and do not pay anything i am different from them i will pay at least something i want to keep my home.

if i receive that letter i will mod these people i will ignore the governments guidelines about the imminent default test. these people show an acceptance to keep their home. if i get a letter that states my expenses gone up give me a mod (yes we get those) and the borrower has not made even a 50% mortgage payment they show no acceptance they get denied.

another secret im trying to help here. make acceptance payments that means if your mortgage payment is 1200 per month and you make 2000 income per month pay 620 your not making the whole payment but your showing by paying 31% you want to keep your home.

carefully read my posts a smart person could see i am trying to help. dont be pissed off at me just read what i write so you may have a good chance of getting a mod.

again banks were forced to take tarp. also this whole 31% front end hamp thing is stupid if i were in charge i would lower it to 15% and wipe away all negative equity after two appraisals. but im not in charge the government is. i should be oh i forgot you people dont like me. this will make you mad i know more than you. you people are so pissed off calm down read what i write im telling secrets of how to help people. the number one secret make at least some sort of payment so you show you want to keep your house.

you want to know what happened government, banks everybody only cared about money. look at your politicians who were bribed by countywide. your politicians threw you under the bus for money.

OF COURSE YOUR ONLY MAD BECAUSE YOU CANNOT SELL YOUR HOME FOR A PROFIT. IF YOU HAD POSITIVE EQUITY YOU WOULD NOT BE BITCHING. YOU DID NOT BITCH BEFORE THE CRASH WHEN YOU WERE USING YOUR HOME AS AN ATM.

HAMP UW:  Why do you continue to assume everyone’s “mad” or “blaming?”  The facts are the facts.

I totally agree with Jean.Banks saw a fool proof way of making millions so they took advantage of it.  When it backfired, they cried to the government for help, who in turn bailed them out.  Unfortunately, the people who were adversely affected by all of this are the general, tax paying public.  This is similar to when parents bail their kids out for not doing their HW for the simple reason “they didn’t feel like it.”  “Can’t they have a second chance?” When they’re “repeat offenders,” the answer is definitely “No.”

Not everyone bought homes they couldn’t afford.  In fact, from the research I’ve done, that’s the minority.  The vast majority are those of us who, due to unforseen circumstances, were faced with a VALID hardship.  So, before we were even close to being late, contacted our lenders (as they advise us to do) for help.  I was told, and I quote, “unless you’re AT LEAST 4 months late, there’s nothing we can do.”  I’ve ALWAYS paid everything ON TIME.  If I couldn’t afford it, I didn’t buy it. 

All we’re asking for is the help the banks promised and hasn’t delivered.  Personally, I’ve had to resubmit docs 11x at this point because they’ve “been misplaced” or “not received.”  Most of those packets of docs were sent cert./rrr, so I know they WERE received.  One contained a payment.  Gues what?  The docs “weren’t ever received” BUT my check WAS cashed.  Interesting, huh?

Is it frustrating to feel like you’re beating your head against a wall and gettng nowhere?  Of course it is.  BUT, with people like you at the helm, it’s unnerving because YOUR in charge and decide “who gets a mod and who doesn’t.”  You sound like a bitter, angry person who wants to help only those YOU choose to.  I don’t recall seeing the HAMP Guideline or any other stating, “in order to qualify. the underwriter has to be in a good mood and like what you’ve written in your hardship letter.” 

Maybe, in your own way, you’re trying to help, but I don’t believe thousands of people who are telling the SAME story of misplaced docs, incorrect information, delays, denials, etc., regardless of the lender (and Chase IS by far the worst from everything I’ve read in the news) are the ones at fault here.  There are guidelines and the banks are NOT following them - bottom line.  If they were, this wouldn’t be an issue at all.

This is a pretty “vibrant” discussion! Thanks Hamp underwriter for showing up here. You have given me some insight and some validation that getting a mod of whatever type is a “crap shoot.” Clearly you are proud of your capacity to decide whether or not to abide by the guidelines depending on whether you as the almighty underwriter feels a person deserves a HAMP. Clearly you are feeling your “power.” Clearly you are a sign of what is wrong with this whole system.

I do want to caution you against using the word “we” when describing the banks attitudes. Honey, the CEO’s don’t give a hoot about you. THEY are the ones controlling this in the long run. You are nothing to them. Believe it. I have worked with a couple of you (by the way, I do have a permanent HAMP mod) who were also fighting for their own loan mods, and having a very hard time with it.

You are no better than any of us, but your insensitivity to the struggles that homeowners are facing makes you a bit worse, in my book. You must be reacting to stressful days. Maybe you drink yourself to oblivion at night and can’t sleep and that is why you post here. I feel sorry for you, because you are not in the right job for your disposition.

It took me 16 months to get a modification. I followed the rules. To the letter. Chase continually lost documents, shuffled me from department to department, lied about what was being done, what could be done, and everything in between. In the end I have the modification; if the bank had been smart, they would have given me a mod when I first asked for it. Nothing changed between then and when I was approved except for one thing: I know so much more about what is going on and now they have me fighting and advocating at every turn. No more is my head in the sand. I get it.

I am still working with others and fighting this fight because I KNOW that what is happening will be the death nell for the American Main Street if we don’t push Wall Street out of its position as king of the U.S. and get our democracy back.

Wow! I can understand that we may look like stupid whiners to someone sitting at a desk behind a pile of “lost” paperwork. Perhaps the American government should sit down to dinner with an average American family and see their faces and meet the children. I am not angry at the HAMP worker (although it is tempting) We are turning that person into a scapegoat for what his CEO’s and government officials have screwed up. It is not his fault and in most cases, it is not our fault that we are in this boat. Like I said, we are not PAPERWORK…..we are families who also drive 8 year old vehicles and cry when our husbands leave to work out of state for 7 months at a time. We are families who say “sorry honey, you have to wear those shoes for another year because we can’t afford new ones” We are families who have maxed out our credit cards to make house payments and pay doctor bills when times are lean. We are wives who can’t get work outside the home(to increase income)  because their husbands are out of town working and GOOD daycare is too expensive. We are not PAPERWORK. We are honest families who are trying to have Faith that the government will remember what is important. The honest ones are not looking for a handout, we are looking for a way to stay in our homes without shirking our responsibility to pay what we said we would pay. In all honesty, I have told my husband I would rather live in a cardboard box and be happy than to fight for a scrap of property with people who think we are PAPERWORK.

BarbaraC:  well said, my friend!!  I thought I’d allowed HAMP UW to get under my skin a little, but you’re so correct when you say he/she’s provided some insight into WHY this program is a debockery (I think I spelled that correctly! LOL). 

I’ve also followed ALL of the rules with Chase and am STILL “under review” - since Jan. 09.  Merely paying 31% of your monthly gross income will cause your payment to sit “in a suspense account” because it isn’t a complete payment.  If we could make a complete payment, HAMP, there wouldn’t be any need for a modification, therefore your job would be elimnated, as Jean stated earlier.

Also, as a public school teacher, I find it beyond ridiculous that these big banks “have too many new employees to train them correctly.”  How would that play out in a school system?  Sorry - too may new teachers to train how to teach Math the right way?  UGH - sends chills up my spine just to think about it!!  LOL

In any case, my FHA loan is STILL under review because “no one realized is was FHA - oops, sorry.”  Am I angry? No. Surprised? No. Frustrated? Yes, because all I want to do is pay my mortgage, keep my family in our home, move on.  I’ve submitted documents 11x now - same ones, “misplaced,” “not received,” etc. 

Chase offered me an “in-house mod” which had a payment equal to 49% of my monthly gross income.  At NO POINT in time did I request an “in-house mod,” but my guess is that’s the more profitable opton for the banks because that’s where they can blow the principal out of the water with grossly inflated “additions to the principal due to fees incurred during the modification process.”  THAT makes me angry.

I was told by the HAMP Escalation Team (in DC) my “file was closed & denied due to insufficient documentation.”  Funny how I NEVER received ANYTHING in writing stating that occurred.  I believe, per gov. guidelines, a denial MUST be sent in writing within a certain amount of time - never happened.  Instead, I received a letter back in March, 2010, stating “all docs hace been received and your file is under review.  Should we need anything further from you, we will contact you.”  “UNDER REVIEW” seems to be quite the buzz phrase by Chase.

So, maybe, just maybe, with all the complaints/letters I’ve sent to every government entity, attorneys, politicians, CEO’s, etc., I might be as fortunate as Barbara and get this mod completed the way it should’ve been in the first place.  Same here - nothing’s changed since I applied for it, so I’m unsure as to what the delay is. 

According to Chase reps., “we’re SO busy with thousands of mods a day, we just can’t keep up.”  Imagine telling a parent of a student the same thing, RIGHT before failing him/her?  “Oh, I’m so sorry I haven’t gotten around to calling you regarding Johnny’s 32 missing assignments!  There are thousands of other things I need to get done during the school day!” Really.

has any one had their payment after a temp mod returned? How does that make sense?

What if we all just stop trying to get a modification? What happens then? What if we become humans again instead of PAPERWORK? Don’t we deserve better. Do what you can to make your payments. If you can’t…....let it go. We met with a LSS counselor who basically said that. She wasn’t giving us advice to shirk our responsibilities, or be fraudulent. She was simply saying….we, as PEOPLE, are worth more. Meet with a reputable financial counselor, review all options, know the foreclosure laws and timelines for your state and if you have to…..let it go. You can save alot of money and pay off other bills in the time it takes the bank to kick you out of your home. and Like HAMP said, before the foreclosure is official, find a place to rent before your credit is ruined. Be Happy and get your life back.

Has anyone read the Loan Modification Progress Chart on this website. Look at the bigger mortgage companies and their percentage of canceled mods. Are they reporting why they were canceled? Are they providing documentation? I am reading that alot of you have had the mods canceled despite the fact that you were keeping up with the payments. Is that being documented or does the gov’t just look at these final statistics and say okay, yeah, I guess the homeowners aren’t pulling their weight. Let’s give the banks another break. I am starting to sound like a broken record but let it go….......become PEOPLE again and not PAPERWORK. Let it go….get your lives back…...be happy! I too may be saying goodbye to that tree my kids planted, the fenced backyard, the good neighbors. but in return I may get to enjoy my life again, I may get my happy husband back and my kids may get more years out of their parents because their parents won’t be having nervous breakdowns and heart attacks because of this whole mess.

I received a denial letter from Chase after timely completion of the 3 months of trial payments.  I received this letter on the 31st of July stating I was denied because I didn’t provide the illusive “income documentation” within the given time frame.  I made my 3rd trial payment on July 1st.  (all payments sent certified/return receipt requested and all received on the 1st).  The letter requesting this information did not exist, at least never made it to my mailbox.  Upon review by my rep (who I had last spoken to when he filed the docs for the trial mod in mid-February) he discovered I was right, and no such letter had ever been sent out!  So he has spent the past week with me updating the file with - you guessed it - repeated documents I’ve already submitted. His goal was to re-open my file since it was Chase’s error.  Yep he said it - it was their mistake!  He showed me the letter to his superior and was trying to get it re-opened so we wouldn’t have to begin all over again.  However, he said they are required to have new information every 90 days.  I think he said by law, but I tend to suspect the ‘law’ in this case is Chase Bank.  He has been wonderful and respectful, and is truly trying to help.  If it were not for him, I would have gone stark raving mad by now.  But he went on vacation Thursday and won’t return until one day before our scheduled sale of property (not actual I was told).  As if that makes me rest easy!  So he left on vacation upon turning in all the docs he anticipated would be requested, and we scurried around to get them to him, making multiple trips back and forth until Wednesday evening.  Since he didn’t update me before leaving as to whether it was approved, we called his office yesterday a.m.  A woman calling herself the Branch Manager said the request to re-open had been approved this morning (Thurs).  I was SO RELIEVED!  Foolish me…. 

An hour later she calls us back, and starts asking for additional documentation never before requested.  Not updated info…entirely new docs.  Profit and loss statements, letter from social security office originally awarding my husband’s income (after the annual statements of SSI income have already been submitted for the past two years), and our 2008 tax return.  Oh yes, we had been asked for that and brought a copy in last Jan or Feb, only to be told it wasn’t needed after all since they were going to get a copy from the IRS.  So…we made a new list, but we are leaving today to go to my high school reunion (in same city, but will be staying overnight 2 nights away) so told her we would get it to her on Monday.  Then we got another call later in the afternoon and now she wants even more information.  When I questioned who she was, and why we are being asked for all this at this juncture when our rep did not, she got very indignant about how she is only trying to HELP.  Sound familiar, anyone?  Only trouble is, she is a royal witch in demeanor and it is clear she is only creating a stall.  Maybe that’s included in her job description. 

I am so upset that I am going to hire a lawyer now.  I don’t trust any of them as far as I can throw them.  Do I have the money for a lawyer?  Only if I sell my car, as it’s the only thing I have left of any value.  (paid for in cash as well)  Do I know where to start?  Hell no.  But here I go.

Anyway, I also wanted to answer JACQI’s question.  When I hadn’t heard back on the status of my trial modification after I completed the three payments, in good faith I sent them a fourth check for the same amount, via certified mail which they received on August first.  My rep (the good guy) told me that they sent the check back to me a few days ago, when I told him it had never cleared my bank.  Haven’t received it yet, but apparently it’s on the way.  (along with the loan mod, I suppose?)

I don’t know if this helps anyone, but I hope so.  I thank God for Paul Kiel and Propublica for providing this investigative reporting and site.  Please forward links to this site to every media outlet you can.  I believe if we bombard them (Keith Olbermann and Rachel Maddow shows in particular) with requests to cover our stories, they will.  Rachel has already started.  Let’s see if she will do a weekly in depth story on real people, too.

Thanks everyone.  It is at least a comfort to know we aren’t crazy when reading all the horrible things Chase has been doing to us. Regardless of the outcome of my situation, I intend to work fiercely as an advocate on behalf of the victims of this scam in the future.  I hope we will all live to see a better day.

Jean—Your words are absolutely accurate—“what Chase is doing to us …” I’m convinced this is a group of people who take great pride in seeing who than can fool and how many people they cn hurt.

Jacqi—

To those of us not in on bank tactics, it makes no sense at all. But if they return your check on a modification, they they can say you didn’t make the payment and they therefore have grounds for not granting your modification.

It’s obvious Chase and several of the other shyster lenders have an agenda and a strategy, but none of us civilians and none of the government agencies have any clue as to what it is.

One thing for sure, in lenderese, “let us help you” translates to “let us SCREW you.”

Banks who evicting and foreclosing on families with children are acting like NAZIS.

Greedy banker’s lawyer’s real estate vultures are driving the current foreclosure crisis. Many investors would be better off if loans could get modified but Banks make more money if they foreclose. Bankers have no compassion toward working class people as long as they can receive the $ 80 million salaries, stocks bonuses and perks. With all that money they were able to steel from taxpayers the Banks should really help to stop the current foreclosure crisis and save the children from these shocking experience.
We all know that with the bailout money these Banks purchased other banks and businesses gave themselfes huge Bonuses, and left the taxpayers who gave them the money with nothing. If this is not exploitation I don’t know what is.
I just wonder why are our government not holding them accountable.

The CEO s today are ruthless have no understanding of how the American working class is trying to survive.

I would love to see how Jamie Dimon or David Lowman (CEO of Chase) or any other bank CEO would survive on a Bank Tellers salary today.

In a wealthy Nation as the United States when you deprive a child from his or her home and put this child out on the street you are no different then Adolph Hitler.

We are on the same boat like everybody else.. I could totally relate what others are going through. We have been trying to get a loan mod since february of 2009 and like everybody else we are told that we are qualified for the program and they put us in trial payment and advised not to pay december payment. After making four payment on time we received a letter saying we are denied. I called back Chase loss mitigation and at that time they don’t want to accept any payment unless we pay in full including late fees etc… I am now assign to what they say homeownership center at Dulles since May and until now they just say our paper is still with the underwriter. I ask her what will happen if they deny us again and she said either short sale or foreclose WHAT!!! I don’t think they are aware of what is going on… The main goal of this government program is to prevent foreclosure and now that is the only option we have left after they deny us…

WOW!  I would like to first state that I have never blogged on any site ever!!!  After reading all of this I just can’t take it anymore.  In September of 08, I started a modification with BOA, and after 1 month I realized that this was not going to work!  So I decided to short sale my property to my fiance.He moved into my place to orginally help me and of course we are in love! After losing my business do the economic climate, but things just got worse for me and they bank was just not helping me.  Let me be clear about this.  I retained an attorny to disclose my realationship and negotiate my short sale.  It worked my fiance will be closing on this property August 26, 2010.  Here is the point my attoney made.  Hamp was designed to keep people in there homes. Yeah right!!!!! It is not going to work. So my attoney proceeded I received my notice of Lis pendens and my attoney did all the right things to stop the bank from proceeding.  So 6 appraisals and two years later and a lot of frustration BOA finally approved it!! On my approval it states ONLY my fiance could purchase the property and no 1099 to me and no balance due to me!!
My point is if you can’t mod you loan, then see if someone you know or a family memember can buy the home on a short sale and try to work out a deal.  GET YOURSELF AN ATTORNEY!!!!!! AND A GOOD ONE AT THAT!!!!!
My attoney made a case that he could keep me in the property for years or take the deal.  Did I say that I had not made a payment for 2 years before we received the approval!! I tried to do the right thing to begin with, but the banks made it unbarable!! I did however pay the property taxes and my maintance fees (never went past due on those).  The banks are just dragging out your misery!! They don’t want to help you as it has been clearly stated by the IDIOT HAMP UNDERWRITER.  SO I DID MY OWN MODIFICATION “0” PAYMENT!!!  The day we received the approval I felt like my life was back to pre-financial disaster!! Now lets talk about blame.  I take full responsiblity for what happened in my life and don’t blame anyone.  I should have seen it coming, being in the mortgage business for 20 years, but I didn’t.  Paulsen did!! And he made billions and crushed the American dream.  I assume everyone here knows what happen with Goldman Sach’s and Paulsen.  If not google it!
Thank banks want you to give up and just walk away!!! Don’t do this fight these bastards.  As a former mortgage person I would be amazed at the loans these lenders were doing.  (can we say risk management)!  Well they had none, They are greedy and now that the tables are turned they don’t want to help you!! They live in their McMansions and could care less about the average American People!!!! Let the banks fail, did I also mention that the banks get there money no matter what.  The governement pays them for every trial mod, but do not have to follow through with a perm mod!! It’s a game and who ever plays the game best will win.  People try to take the moral issue out of your situation and make a stratigic financial decision.  The big boys are doing it!! Do you know that Lehman Brothers did it with 5 buildings in San Francisco because the value had dropped. 40 percent of people that have mortgages are underwater!!! FIGHT FIGHT FIGHT! Fox news is talking about this right now!!

Forgive me if anyone already mentioned this… I haven’t read through all the commentary yet.

Everyone needs to read the enlightening FDIC document that Propublica mentions in one of the articles here.

http://www.fdic.gov/consumers/loans/loanmod/FDICLoanMod.pdf

Here’s a quote from the FDIC document:

“Use a financial model with supportable assumptions to ensure investor [bank] interests are protected.  - Compare the cost of the modified concessions to the estimated cost of foreclosure to mitigate losses. - Mandate that the cost of the modification must be less than the estimated foreclosure loss.”

So, despite all the government and bank advertising claiming that the Loan Modification program is intended to help people keep their homes, it is, in fact, a program to help the banks mitigate their losses, and as such, only applies where the cost of the loan modification is more profitable for the bank than foreclosure.  Amazing as it may seem, our government’s program supports kicking people out of their homes through foreclosure as long as it’s profitable for the banks!  ..the same banks in many cases that have received so much federal bailout money! incredible! 

If the process and requirements were at least explained honestly homeowners could make an educated decision rather than spending months of frustration, throwing good money after bad, while waiting for modifications that will never happen!

So, I’m still waiting to see if CHASE is really “The Way Forward” as they’ve been advertising…but my expectations are low, since we have some equity in our home, and one honest CHASE employee told me in no uncertain terms that CHASE would rather force us to foreclosure and get their cash, than help us keep our home!

I had almost the identical experience with Chase that Ms Noble had.  The docs are faxed to Denver.  The underwriters are in North Carolina.  By the time the docs get to the underwriter they are outdated…that is if they ever get there at all.  I was turned down after one year and received a letter saying my income was too high.  When I called to find out how that could be, they told me I was rejected because my income was too low.  No-one would tell me how they determined either criteria.  I was then billed $25,000 for the “underpayment” during the trial period.  I was told to pay up in 30 days or face foreclosure.  In May of 2010 I finally got a modification under a different program, and have been making my payments on time.  However, the “system” is still reporting me as delinquent to the credit agencies and I am still getting collection calls.  This is insane.

Robert Harris
Are you sure your mod is out of trial and into a perm.?? While my short sale was in process all credit reporting was stopped, thanks to my attorney!!

I wanted to make one more thing clear.  NO 1099 OR BALANCE DUE FROM ME!!! I am free now!!!

Everyone write to Jack Cafferty with CNN
The Cafferty files!!!!!
He will get the word out!!!!!
Tell him I sent you!!

Jacqueline
Thank you for encouraging the people here to write to CNN. The only way I believe this would work if CNN would make a show for one week just like Haiti, or Katrina, or the gulf spill. A 5 minute segment on CNN will not help us. I will write to Cafferty. Please I ask all to do the same.

Gabor
No problem, I know Jack personally and have spoken to him about this financial mess and loss of homes of many Americans.  He will attack this subject.  Everyone get the msg to him…He is for the people. 
Also if anyone is in Florida and you need a good attorney just let me know!! I have one.

Jacqueline
If you know him personally we have a chance. However I wrote a couple of times to AC360 but my feeling is the reason they only bring it up on all the TV stations here and there is because they afraid that the banks would not advertise.
This Chaos has to be stopped. Yesterday I received 3 letter from Chase. Two of the letter was Identical:  stated I have not made a payment since 10/09/2009. I HAVE THE CANCELLED CHECKS.
The third letter stated they have not received my 4506T ez. We all know they have it but just playing games with us. Check out NPR website and listen to the show on the 17th with Pat Morrison

http://www.scpr.org/programs/patt-morrison/2010/08/17/foreclosures-up-loan-modifications-down/
Just copy paste and listen IT IS WORTH IT

does anybody out there know a good lawyer in virginia?
I just got a letter today ” an intent to foreclose” after paying them worth of 2 months on my mortgage.

I have faxed for the 8th times my paperwork to Chase.
The last time I went directly to one of Chase branch and asked them to fax my 70 page document. They did and gave me a confirmation receipt.
Yesterday I have received three letters from Chase. One has stated that they did not receive my 4506T form.

Anyone has a knowledge how to supbena the fax record from a bank? With this evidence I could prove that millions of homeowners just being made a fool of whenever the bank send us letters and state

“WE DID NOT RECEIVED THE FOLLOWING DOCUMENTS.”

The other two letters stated they did not receive my payments since 10/09/2009. 
     
The funny thing is I have the cancelled checks.
Chase has been cashing in my checks. On the back of my checks you can clearly read
“Pay to the order of Chase Home Finance.”

I have gone through 2 loan mod programs with Wells Fargo.  The first was in the summer of 2009, shortly after the program was started.  After 7 months of making reduced payments, my mort mod was rejected.  I then re-applied for the program.  After 4 months of making reduced payments, my mort mod was APPROVED - with a major reduction in interest from 5.75% to 2.85%!
I was stunned but happy because the mort mod saves me 300 bucks per month.  It seems to me that there were several reasons why I was rejected on the first attempt.  1) the program was new and Wells Fargo wasn’t really set up to handle it.  2) I did not jump through the hoops correctly - I didn’t do my paperwork in a timely manner and I didn’t call in regularly.
On the second mort mod, I was very careful with my paperwork and made my call ins regularly.  ALSO, AND MOST IMPORTANT - I STARTED THE 2ND MORT MOD THROUGH CLEARPOINT CREDIT COUNSELING.  I think that using Clearpoint really forced Wells Fargo to pay attention to my application - and using Clearpoint didn’t cost me a dime.
Also, it seems that it is necessary to prove to the lender that I was capable of making payments.  If my financial situation was more shaky - or hopeless - I probably would have been turned down.  Wells Fargo is the “servicer” on my loan.  The loan is owned by Freddie Mac.  I think that continuing pressure from the Obama administration put them in a position where they had to show some results and approve some mort mods.

this should be REQUIRED READING for the administration!

the people have been duped & hung out to dry AGAIN.

what banks & the gov. don’t understand is this “banking/housing dilemma” will HURT the ECONOMY for YEARS.

the pols are in their"beltway bubble”.

gl to all…

Ditto!!!!!!
We are just another family with the same story. We’ve done everything to stay in our home. Exhausted 401k, savings, everything. 
Bank of America just ignores us. Applied for modification over a year ago. Still haven’t heard.  Applied again 6 months ago…nothing.
We’ve even had 3 short sale offers….Bank of America has ingnored all, but decent offers. Buyers are now gone. So next it looks like foreclosure…Boy will BOA do well there…HA!

Look at this video and visit the website. The FDIC makes payments on mortgages held by banks who were taken over like Washington Mutual and Indy Mack and the other 300 or so other banks that failed because of the mortgage crisis. A contributor of why you did not or are not getting a HAMP.

http://www.youtube.com/user/fiercefreeleancer

or visit their web site at

http://www.fiercefreelancer.com

Post info on http://www.propublica.org.  They are investigating the mod. debacle and do not block info such as this like Yahoo does.  I’ve been waiting for a mod. for 20 months to no avail with same problems as everyone else.  I think it is a big bank scam on the back end of the mortgage scam they perpetrated to begin with.  I believe all banks are in on it as they all use exactly the same tactics to delay and deny.  They are making a lot of money all the way around.

# 1 - To the person who keeps asking if we have written to CNN - please post the e-mail address. 
# 2 - to all - identify the mortgagor.  All chase victims do, but Chase is not the only one.

# 3 - to all the victims:
—-Contact the FTC - they will assign a case #.
—-Write to your State Attorney General; his/her portal has forms that you can print, and attachments are allowed.  Be sure to put the FTC case number in the complaint.  With enough complaints, his/her office will do something: either penalize servicers, or fashion some other kind of punitive action.

—-cc to:
*Corporate Offices of your servicer

*Comptroller of the Currency (call 800-613-6743 to obtain their web-page for your state)

*Your state’s Department of Savings and Mortgage Lending

*And last, copy the FTC quoting the original case number.

Be professional and do not let your emotions be apparent.

It is OK to vent your frustration here, but the only way that agencies will take action is when they can no longer ignore the issue.

It may be good to let propublica.org know that you did (mention your state) so that they can keep track.  The have the tools to do so.

My story extends to 17 months of everything everyone is talking about.  No additional debt.  Started with a credit score higher than 820.  WELLS FARGO approved me for the 3-month trial, then a few days before the permanent mod was to take effect, I was notified of a rejection over a fact known to them for more than half of the 17 months and was never a problem before.  Wells ordered six credit reports without my knowledge or authorization and my score is down to 791. It goes on and on.  But taking action is what is needed. 

Please do.

hi lucy, what is FTC?

Federal Trade Commission, 1-877-382-4357.

My mistake.  I am the mortgagor, Wells is the mortgagee.

I think this whole loan modification is a SCAM.  I had to send documents and this is the fourth time.  Now they tell me that my files are with an under writer in review and now they tell me they don’t know if its still with the underwriter.  Ive been at it since January and have gotten no where.  I am suspicious and think the banks want you to go over 60 days late so they can start charging you fees.  I think the white house should get off their butts and do something about this.  This is pathetic and the three banks.  B of A, Chase, and Wells Fargo are going to be sued and VPs are going to be thrown in jail when we get to the bottom of this after November…......  No more Bank bail outs EVER!!  INVESTIGATE,  INVESTIGATE AND INVESTIGATE.  ALL THESE PEOPLE POSTING BLOGS ALL OVER THE INTERNET MEANS ITS NOT AN ISOLATE INCIDENT.  IT IS CRIMINAL WRONG DOING ON THESE BANKS….

Lucy Alva   and everybody else who willing to write to CNN
here is the web address where you can write to CNN. Just copy and paste in to your web browser.

http://www.cnn.com/feedback/forms/form11b.html?1

OMG…As awful as it is to read all of this, it’s also comforting to know I am not alone. I have spent HOURS on the phone, sleepless nights, etc trying to figure out why this modification process is going so wrong for me. I initially fell behind in my mortgage like everyone else…unexpected bills popped up…Chase actually contacted me last Sept and offered me the modification!! Of course put me on the “trial payment plan” which, like everyone else, screwed me up even more in the end. I made the payments on time and on Christmas Eve I received a call from Chase telling me I was denied. Merry Christmas to you too Chase!!!  Next, they called me back 2 weeks later and said they screwed up (yes they told me that) and that I needed to resubmit my paperwork via fax machine that day.  So I did.  A month later I contacted them for a status check and the fun began…It began with the outdated document story.  So I faxed updated documents.  In the meantime, I recieved my tax return and had planned to catch my mortgage up.  However, Chase was very, very confident that this mod would go through. So stupid me believed them, used my income tax to pay off the rest of my debt.  My “logic” or lack thereof was that the mod would go thru, catching my mortgage up and now all my other debt would be gone as well.  Well needless to say I was very, very wrong!!! :(  Initially Chase said I was declined because my husband and I made enough money to catch up without assistance.  Funny I haven’t had a husband for 6 years!!! They claimed he was still on the deed to my home even though 6 years ago I refinanced the house into my name only, and paid him his equity.  The house was refinanced for over double what I initially bought it for (because it had increased in value, I owed him more) and he quit claimed it to me.  Chase had NO knowledge of this even though they are the ones I refinanced through!!! WHAT!!!??? So next I had to fax the quit claim, my divorce decree and apply all over again. For the next 2 months I talked to atleast 15 different agents that did not even show my loan was under mod review.  I had no idea what to do. So I just continued to pay a mortgage payment every month.  I was and still am 4 months behind but I continue to make a payment every month.  Out of the blue I get another call from Chase telling me my documents are expired again and to resubmit.  So I do..again and again and again….41 pages each time and it never fails each time some are missing.  Usually the tax form is missing for what ever reason.  Then I go thru the “it’s pending” process.  Last Friday I was told I was wasting my time by reapplying, that “someone was giving me false hope” and my ONLY options were to short sale or pay my arrearage in full.  IF I COULD PAY MY ARREARAGE IN FULL I WOULDNT BE ON THE PHONE BEGGING FOR A MOD!!!!!!!!!! About 5 hours later I received a call from Chase asking me if I was still interested in a mod??? WTF…She tells me to fax in paperwork again. I feel I am losing my mind. I really feel I am in the twilight zone when dealing with them.  So my tax return is gone on other bills, my mortgage is still 4 months behind.  BTW for anyone that cares, I did not lose my job, I have a very stable job with the county for 18 years now, was driving an 11 year old (paid off) car until a teenager hit me forcing me to get another one (another unexpected expense). The new one is 5 years old.  I do not have even 1 flat screen tv or one over 27” in my home.  However, I do have a nice, comfortable (lots of my own blood, sweat and tears) house that my 2 kids and I call HOME.  I do realize I have a debt and am trying to pay that debt.  I have NEVER lived off the system or asked for any help before.  I don’t want to lose our HOME.  It’s not an investment to me…its my home!!! I am willing to send whatever documentation, however many times they need it. I just feel the incompetence is unexcuseable. Every person typing on this has a carbon copy story of the next.  Although some of the responses have gotten my blood boiling (hamp), I have also recieved some good pointers…I can and will give credit when it’s due:)  So thanks for that.  I don’t believe in lying though.  I know there are too many to count that are looking for a free ride, I just wish those of us who are legit didn’t get screwed b/c of it. I am going to check into that clearpoint credit counseling (thanks for that tip).  Does anyone know of a way to apply without going thru your mortgage lender?? Sounds strange but they (Chase) seem to really be the problem.  I’ve tried refinancing, taking equity out of my car, etc. No one will give a loan to someone 4 months behind in their mortgage.  Very frustrating!!! Best of luck to all of you and God Bless. I just keep praying and believing what is meant to be is meant to be.

I’ve sent in my request to CNN, and I hope everyone here will too. None of the major mortgage lenders are bargaining in good faith. And when the ship finally hits the sand and tens of thousands of homeowners lose their homes, Chase, Wells Fargo, BOA and the others will be standing before our pretender president and his puppet congress begging for more bailouts to pay their excessive bonuses—and will probably get it.

Give writing CNN a try. What can it hurt?
http://www.cnn.com/feedback/forms/form11b.html?1

I already sent my request to CNN.  I hope they will pay attention on this. There are a lot of us that has gone further more behind because of those banks.

thank you Lucy, I will give FTC a call. I already called and sent a complaint to our atty general and sent request to CNN as well.

Pastor Dave   Thank You for writing to CNN now I now they received at least 2 request. If many of us start to write I believe it will happen. I see the light at the end of the tunnel. Thank You again.

It’s not just those of us who’ve experienced the insanity who should be writing, but as well those who will end up paying for it.
The lenders need to be embarrassed into doing something other than putting together loan mods that, in the end, they’re not going to honor. Remember, these are these companies are the recipients of billions of dollars in bailouts financed by the taxpayers.Have they helped the economy? No, but their execs have helped themselves to billions in bonuses.
Encourage everyone you know to write CNN, even those who may be oblivious to what’s happening. Let the media feel the pressure to incense the population into demanding accountability.

If you have a complaint about HAMP, here is a US Government site to file a complaint about your loan modification.

In order to report individual allegations of fraud, including false statements, false claims, and misrepresentations affiliated with the TARP, we recommend that you contact the Special Inspector General for the TARP (SIGTARP), which is the only TARP oversight body vested with the legal authority to conduct these types of investigations.  To contact the SIGTARP office, please go to http://www.sigtarp.gov/contact_hotline.shtml or call the SIGTARP Hotline at (877) SIG-2009.

Great idea - sending mine in tonight to CNN.  Something’s gotta give.

The rumors of my DEATH are greatly exaggerated!

CHASE has now asked, in writing, for my DEATH CERTIFICATE!!

REALLY!!

Here again is my personal CHASE saga, updated with the latest craziness from CHASE

Another CHASE BANK Loan Modification Saga:

1. I was laid off in May 2009, right after my 55th birthday, ending a 32 year career at Macy’s.

2. I paid my mortgage for as long as I could, while applying for a Loan Modification with CHASE.

3. CHASE bank moved us to foreclosure rather than process our paperwork within the stated 30 day period.

4. CHASE has made it almost impossible to complete the process.  They have employed the following tactics:

They made it EXTREMELY difficult to communicate with them

They asked over and over, and OVER for the same paperwork, including those that don’t require updates

They told me that we don’t qualify for the Federal Loan Modification program because ours is a 2-familiy house (which of course, is a lie!)

They sent a package marked “FORECLOSURE” all over the outside, to me, at my former place of employment, Macy’s, even though this was never a contact address on file with CHASE Bank, and I hadn’t worked there for 10 months!

After I complained in writing, about the FORECLOSURE package sent to Macys, CHASE sent yet ANOTHER package, marked “personal and confidential” in an OPEN, UNSEALED, envelope!

They sent us a written rejection from the Federal Loan Mod. program, stating that we didn’t meet the 31% income/housing cost requirement (which is a lie)

They failed to answer how they came up with that assessment when the NPV input values show that we DO meet the 31% requirement by a HUGE margin.

They failed to send a corrected rejection letter from the Federal Loan Modification program, even though they acknowledge that the stated reason for reject was incorrect.

They put us on a CHASE (not Federal) Trial Modification.

They told us that we probably didn’t qualify for the Federal program because we have TOO MUCH EQUITY in our home, but again, refused to put that in writing.

They told us that they are NOT TRYING TO KEEP US IN OUR HOME. They ARE trying to mitigate their losses, and that CHASE BANK WOULD PREFER THAT WE SELL OUR HOME and pay off our mortgage!

They told us that CHASE will most likely reject us for a permanent CHASE modification because we have TOO MUCH equity on our home.

They failed to answer our repeated, written requests for an explanation of all the items listed above.

They failed to complete our modification after 3 trial payments, as specified and as indicated on the CHASE web site. (I’m making our 5th trial payment today.)

CHASE advertises “CHASE. THE WAY FORWARD”.

One of the CHASE web sites states:

“THE WAY FORWARD”

“At JPMorgan Chase (NYSE: JPM), we do our best to manage and operate our company with a consistent set of business principles and core values. First and foremost, this means always trying to do the right thing. “

REALLY?  Their actions tell a different story!

UPDATES AS OF Aug 30th:
======================
1. CHASE sent a letter dated Aug. 18, 2010, stating that we have now been rejected from both the Federal AND CHASE loan modifications because our housing expenses are less than or equal to 31% of our gross monthly income.  THEY ARE NOT. NOT EVEN CLOSE! CHASE (Bonnie) has already acknowledged this verbally!

2. CHASE sent a letter dated Aug 21, 2010 stating that they recently wrote to us to advise us that they don’t have all the required documents for our loan modification.  THIS IS FALSE.  FURTHERMORE I SPOKE TO CHASE TWICE RECENTLY , AND THEY STATED THEY HAD EVERYTHING!  They are now asking for things like a “Copy of Recorded Death Certificate.”  (NO ONE HAS DIED!... although they are making me seriously consider a self-induced death!).

WOW CHASE, I think you’re ad’s are meant to say “CHASE - THE WAY BACKWARD”  not “CHASE - THE WAY FORWARD”

This really is quite unbelievable!

Propublica; SOMEONE!  PLEASE HELP!

PLEASE feature my story.  Help me embarrass CHASE into doing the right thing!

......hmmmm maybe I AM dead, and this is hell? (CHASE HELL)

P.S. I have scheduled a doctors Appt. to verify that I am, in fact, ALIVE!

Mike -

Thanks for the info.  Only problem is, SIGTARP doesn’t deal with individual complaints - I’ve filed one against Chase 3x so far and I’m still waiting for an answer.  Any other advice would be very helpful, though!!

.(JavaScript must be enabled to view this email address): read this article:
“Treasury Makes Shocking Admission: Program for Struggling Homeowners Just a Ploy to Enrich Big Banks…”

Maureen,
Try writing your Congressman, and go to the website Congressional Oversight Committee, Elizabeth Warren.
If enough Congressmen hear about these abuses by the banks, they might do something, it is an election year. Just sulking away and allowing the banks to abuse us is suicide. The banks are making money on shortsales and foreclosures and they are counting that the public does nothing about it..

http://cop.senate.gov/index.cfm

Donna—where can I find this article? The alternet address is an email address only.

http://www.alternet.org, let me know if I got the address wrong, computer keeps dropping your site…

Donna—

Wow! This article is DYNAMITE and should be in the hands of every struggling mortgager.

When Chase kept telling me the decision on my mortgage “was coming,” but just to hold on a little while longer. When my three month modification became six, I insisted on getting things reduced to writing and that’s when they told me I didn’t qualify.

I’d been suspecting that the only reason they had this going was to bleed me for a few dollars more. Although we’re losing our home, there is some comfort in knowing I was right and their shysterism is out in the open.

Thanks for this great find.