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Ann - OH

Story/Subject:  Loan Modification, A Circus Ride...

August 2009- I wrote to Jamie Dimon, CEO of Chase Bank for a request for a loan modification due to an economic hardship.  Loss of business lower wages. Etc…

Sept 2009- An Executive Resolution Team Member from Chase contacted us, telling us that she would be working with us throughout our loan mod process, and that if we received any collections calls, and or letters from Chase's collection dept., to forward them to her.

After CONTINUAL faxing, re-faxing, Fedex after Fedex of our personal financial information to Chase, we had come to find out that in March 2010, Chase had stopped paying our property taxes, and our homeowner's insurance (We HAVE an Escrow account, and money in that account) Chase took their name off of the property tax records, and allowed our homeowner's insurance to lapse, and cancel. We are now paying our property taxes on our own to catch up on the delinquency. We are now considered high risk, so we are struggling to find an insurance carrier to cover us.

In that same month, we received a letter from a debt collection agency that stated that they represent Chase, and that they are demanding the full amount of $69,000.00.  We stopped getting monthly mortgage statements from Chase the month prior, Feb 2010. We sent the collection agency a Validation of Debt letter (Who are you, and what do you want with us?)  They have not validated the debt that they represent Chase on.

We did not receive a verbal, nor a written DENIAL from Chase during this time, but we have received a Fedex package from them for a CHAMP, in house loan modification offer that has 3 trial payments that are higher than our regular mortgage payments.  We did not respond to this offer, as it was not an offer to help us, (HIGHER monthly payments=NO real loan mod)

At the same time that Chase is running us through their in-house loan mod offer, we received another Fedex package, this time it is a HAMP loan mod offer.  Chase is sending letters to us stating that our CHAMP in-house loan mod offer is in danger because we did not respond to them, and we did not pay the higher loan mod offer payments.

How can Chase do this?  Because Chase CAN.   






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