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.
