Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My wife and I purchased a home in Aug. 2008......my wife was laid of from her job of 8 years and has been receiving unemployment since March 2009. We had our 1st child in July 2009 have been getting by on my salary plus my wife's unemployment. We'll the past 10 months have been very rough money wise, so in Aug 2010 I applied for a loan modification. We sent in all the paperwork that Chase requested. The modification went to underwriting to be reviewed, but was denied because it was an FHA loan. Now I'm pissed, because they knew from the start what type of loan it was, so why have me even go thru the bs of submitting all that paperwork when they knew it would be denied in the first place????
So after that I spoke with a rep to see what other options I have, but was quickly told I have none since Chase unfortunatly offers no help to FHA mortgages. I think this is a bunch of crap......we have never been late on a payment and we're asking Chase for help and their basically telling us......"*********"!!!!!!
What should I do next? I dont want to lose my home, but it's getting harder and harder to make ends meet!!!!
I cant qualify for a streamline refi since my spouse is not working and my income wont let me qualify. The FHA changed its guidlines in 2010 regarding streamlines. Income now has to be verified.
No it doesnt. I am doing many streamlines with no income verification.. they do verify you are employed. Plus, they only look at your mortgage history. I pull a mortgage only credit report with scores.. no other debts on the application.
Chase just told me I dont qualify for a FHA streamline refi because the value of my house is $134K according to their system and and I owe $154K...which is weird because I was told just a week ago by the loan mod people that the value of my home was estimated at $149K. Then I was told that my townhouse was no longer FHA approved even though I have an FHA mortgage already. Bottom line.........Chase doesnt want to help me.
If I dont get any help then I'll just basically live in the home mortgage free, pay off all my other debt and save my paychecks. I own a condo style townhouse so forclosure could last a long time......by the time I'm forced out I could save over $15K. My credit would be screwed, but at least I wont be broke and up all night stressed about where our next meal is coming from.
Don't believe that streetkings....you can get a FHA Streamline without income verification. The loan just can't be more than what the original loan is. You cannot have been late at all. I am trying to do a FHA streamline now and I owe more than what the house is worth.
Don't believe that streetkings....you can get a FHA Streamline without income verification. The loan just can't be more than what the original loan is. You cannot have been late at all. I am trying to do a FHA streamline now and I owe more than what the house is worth.
I dont and thats the reason why I'm currently in the process of a FHA streamline thru another bank. Its ashame what Chase is doing to their own clients. Their basically telling me we dont want to help you and thats messed up for real!
As my name say's what I do, it is a known fact Chase has had customer service problems from many years. You have to push like 20 buttons and you are placed on hold. A few weeks ago spoke to a man who was on hold 420 minutes before being hung up on.
They have limited understanding on mortgages. They are either renting because they are to young to have a mortgage or still living with mommy and daddy. Ask them an easy question like... "How long do I have before paying principle on an interest only loan? I bet half on them would answer wrong....
What they are trained to do (like robots) is automatically provide you with paperwork to enroll in one of the making home affordable programs the government has. If you do qualify, your rate drops, and the Lender gets a 5yr rebate (they don't mention that). Out of all the millions of people that have tried to qualify, only 468,000 homeowners across America have received a HAMP modification.
What you need to do is reapply for a FHA conventional modification. This time you need to deal directly with their loss litigation department directly.
Just called and asked one of our Paralegals - she said this week Chase is offering Fresh Starts at 4.5% for existing FHA loans for people who are 60 days or more behind on their loan.
..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
... The people you are talking were hired straight out of college by Chase bank as temps, . ..... 
