Back on July 21, 2009 my husband and I were offered a home mortgage modification loan through our mortgage company CHASE Finance. This is the 2009 Obama Mortgage Relief Plan that is suppose to help homeowner’s get their interest rates and payments lowered to a more affordable amount. Well my husband and I are beginning o think that the whole thing is a scam. No way is President Obama aware of what these banks are doing to their customers with this program. After three trial period payments they are suppose to lower your interest rate and payment. It’s been over seven months, we have made 4 payments, we have never received any proposal with new interest rates and new payments, we have had to send 4 sets of paperwork (including hardship letters and pay stubs), we have had to sign or initial a 4506-T tax card every month, we are receiving our monthly mortgage statements showing us 8, 000 in arrears with hundreds of dollars in late fees, we do not have a single piece of paperwork showing the payments they auto debited from our account for the trial period which amounts to 5838.80, we have not received one call from them updating us on the status, when you call them you speak to someone different each time and are never given the same information, we have received 2 sets of papers saying we were in foreclosure only to be told when we called that the papers were mailed in error, we have been rudely talked to, we found out by calling Fannie Mae in Washington directly that the application has never even been finalized and sent to them for review. What are we suppose to do? They are destroying our credit…the stress has been unbearable…we have spent hours on the phone and typing complaint letters and most recently wrote to our state Congress. This is such a disgrace. We had never been late, we had good credit with them, we just wanted what we were entitled to. CHASE ought to be ashamed of what they are doing, but they don’t care. And through all this mess, I had a brain tumor (benign thank god) removed last May. We are so discouraged. I made it perfectly clear to the Fannie Mae Level 2 rep who is trying to help us that I will not make another payment to CHASE until they start to treat us with some respect, send us paperwork with some type of proposal, send us a current monthly loan statement showing the payments we have made and removing the 493.00 late fees. I cannot believe that Obama is letting this bank get away with such scams and ruining the lives of a lot of good people who do want to keep their homes. All we wanted was an interest rate lower than 8.5 and a lower mortgage payment. We are more than interested in filing a law suit against them.

I have been dealing with Chase Home Finance since I was 3 months behind last August 2008. They told me just to wait. No one called me and I finally hired a company out of Boston, paid them $1400 to call continuously for me, send papers etc. I have a sub-prime adjustable rate loan, they sent me a 3 month trial plan back in March, I made, not only 3 months, I continued to pay 6 months and STILL no paperwork or phone calls. Now they are asking for all of my paperwork all over again. I am going to seek legal advice next week to see what else I can do.

I sent one in the beginning of June. I have called at least 5 different times. The website says it takes 4-6 weeks. I called at the end of six weeks and they told me due to a merger it would take another 120 days. That was longer than the original time it was supposed to take. I called 2 days ago and was told they didn't receive part 3 of the app and that it was not available when I applied. I looked at my copy of my original application and it was in there. They also made me resubmit all of my bills. Now they are saying it will take another 30 days due to this when they already had all of this info once. I am so frustrated with all of this. I applied knowing I was going to need help. By the time they get to it I will already be foreclosed on.

Chase is unprofessional. I have been doing this home modification for six months. I sent in my paper work five times. All these people are correct. They do not know what they are doing. I called every week, different responses each week. I am not told I dont make enough money to receive a modification. Though I manage to pay most of my mortgage now. Gee! That makes sense. I have since closed all my credit cards with Chase and friends and family members are supporting me too. I will, soon as I get myself on my feet, change mortgage companies! Chase is extremely irresponsible, very bad communication, redundant and unbelievably lacking in management and underwriting skills. Can't wait to say bye to Chase.