We were only one month behind when we called "Chase" to be responsible and let them know. We were advised by the employee that we qualified for the "New Loan Modification Program" that would lower our mortgage payments, reduce our interest and absorb any late fees that would occur, BUT we would have to be "further behind and miss two mortgage payments". We did this dreaming of the possibility of lower payments...WE TOTALLY REGRET THIS DECISION NOW!

We started on the first loan modification where we were making reduced payments while we submitted all our paperwork. I called three months later only to find that we were DENIED because of making too much. "Well you can reapply is your income still $xxxx.xx each month?" , says "Chase". Well the reason we were denied was because the entered one of our incomes wrong by double.

Loan Modification #2
Now we are still making the agreed upon reduced payments to "Chase" and the loan modification process takes another 3 months. This one was filled with faxing and re-faxing our "lost paperwork" numerous times before we were finally DENIED for insufficient paperwork. According to "Chase" we are now 7 months PAST DUE even though we were making the agreed upon reduced payments, "Chase" now says "It was not the full mortgage payment" resulting in putting our house into a FORECLOSURE status.

Loan Modification #3
To put a HOLD on the Foreclosure process "Chase" stated we need to apply for a Loan Modification and we thought GREAT here we go again... I was however able to make a $4500.00 payment during that time (February 2011). With a month filled with faxing an re-faxing several times it ends with being DENIED for making $100.00 too much in March 2011.

So what is the next step.....??
Well "Chase" offered as my only option a re-payment plan which now included the $2000 in lawyer fees which were while the house was in foreclosure for two days over Christmas weekend. "Chase" had me to put a down payment of $3295.00 and follow it with 3 payments $2588.82, $2588.82, $1823.11 to get caught up. (Personal Note: if someone is having financial difficulties does this sound like the answer? More than double the current mortgage payment?) So we took our only option to keep our home and put the $3295.00 down by borrowing money from the next month basically. Well the next month came and we just couldn't come up with the $2588.82 payment and I called "Chase" and the employee stated it was fine if I made the partial payment of $975 that the payment plan would just extend longer with late fees and I was fine with that....WRONG!! So after making this payment our house went back to foreclosure for owing $6086.82.

So this is where we are today...
Our option given by "Chase" : Loan Modification or a Re-Payment plan which includes NEW lawyer fees for the foreclosure with a down payment of $3900.00. So now we are starting Loan Modification #4 to buy some time to do what I don't know next....

I am so mad that I was mislead over this Loan Modification Process (SNOWBALL) that occurred. "Chase" says that they want you to keep your home we but they are not willing to help you in any way and in my personal opinion: putting me in this situation!!! This seems to be one BIG SCAM!

(This letter doesn't even include the 100's of phone calls where every employee says something different on the phone and leaves you confused.)