I live in Lee County Florida and back in February of this year a Chase Home Ownership Center was set up in my area to help people with loan modifications.
Now while this sounds like a great idea I am still not sure they are helping people.
I first contacted the local office in Ft Myers Florida back in April. We had been in foreclosure with EMC since January and I thought, this sounds great what Chase is trying to do. Well my excitement soon turned to disappointment.
I called and spoke to a woman who could not answer just some basic questions about the Obama plan that was coming out and if they were indeed allowed to modify a loan that they could not prove they had a right to modify.
Instead I was told I needed to come down quickly and get a loan modification done because there was a sale date set for our house.
Now still being somewhat new and not understanding quite how everything works I immediately excused myself and hung up. I then called the local courthouse to inquire about the sale date I was told that was coming up.
Well it turns out there was no sale date set and the lady at the courthouse told me it hadn't even been to court yet.
I then called back and asked to speak to the manager or supervisor. I then spoke to a gentleman and he explained to me that it wasn't an exact sale date but was showing there could be a sale date coming up. I explained to him that I was very upset and that seemed like a scare tactic or pressure tactics which he assured me was not the case. I then asked the same questions about the Obama plan and if they would be allowed to modify a loan even though they did not have the original note and didn't have the right to modify it. He could not answer so I basically gave up and let the foreclosure case run its course.
Well here we are in October and I thought I might try again. So I call up and speak to the same gentleman in charge as last time. I ask him about the Obama plan again and he still does not know the details. he then asks me for loan number and looks up the file and proceeds to tell me there is a sale date set. Well needless to say I was quite upset, not as scared as last time, but still very upset they seem to be using the same scare tactics.
I then remind him we spoke back in April and after a little bit he remembers who I am. I explain we have a lawyer but am still open to a loan modification if they can send me in writing something saying they can modify this loan even though they don't have the original note and never did hold it when it was transferred from Fairbanks / Select Servicing Portfolio to EMC.
He says he cannot do that and that the original note doesn't matter anyway since everything is electronically recorded. He then says that the local office will not be able to help me since we do have a lawyer.
Now this part really upsets me. He explains to me his office cannot help anyone who has a lawyer or any other kind of third party group unless it is a family member.
Now to me this seems like a huge problem because what I have read it is very important to have a lawyer or someone knowledgeable about loan modifications with you to help guide you.
So, frustrated again I ask if he can provide me with some numbers about how many loan mods his office has done since opening in February. He tells me 6086 loans have been modified but was unable to tell me out of how many applied. Now 6,000 some loans out of say 7,000 might be ok but say its just 6,000 out of 10,000 or 20,000 or more. Then it's not so good.
I did then get his supervisors name and have since placed a call to that gentleman who assures me he will check into everything for me and let me know what can be done.
I guess my point to this post is it seems like business as usual. I have read Chase is in the lead with helping people but it seems they and others still have quite a ways to go.
Thanks for reading.