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Can we use help for homeowners and Chase?

Profile picture for olson21
Contributions: 1
We bought house almost 5 yrs ago, now worth considerably less.  Never missed or been late on payments or taxes, have high fico score.  Are we eligible for help in our adjustable loan?  Who can I call to get honest answer, not Chase! 
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November 07 - Camarillo
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Profile picture for phils46
Contributions: 13
expect the worst with WAMU NOW CHASE, I just had my nigthmare working with this bank,  And I really wish that I do not have to deal with them anymore (period).
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November 08
I would first suggest checking http://makinghomeaffordable.gov to find out if your loan is a Fannie or Freddie. If one of the two own your loan you maybe eligible for a REFI PLUS which allows homeowners to refinance loans in excess of 100%.  If your loan is eligible I would then contact a local MORTGAGE BROKER NOT a BANK and let them know you would like to apply a REFI PLUS. It is important you tell them up front you researched it and your loan is owned by Fannie or Freddie and you are only applying for the REFI PLUS, no other loan. If that fails I would work on a a LOAN MOD directly with Chase https://www.chase.com/chf/mortgage/keeping-your-home (do not involve a third party). Chase is backed up, although if you are current and are not in jeopardy of defaulting then you should have not issue waiting for a response.
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November 07
Hello olson1,

We just met with yesterday with local Camarillo homeowners that are going through a similar situation with Chase (formally WAMU mortgage).  My clients are both working, have good income, and good credit.  However, their payment reset, so they applied for a load modification with Chase. They thought they had an agreement in writing, for a lower payment.  But, then they found out the payment was a "trial plan" and Chase then sent them a new agreement that made no sense to them as far as being affordable.  When they tried to get help from Chase, it seems like it just got worse.  They were told to consult with an attorney or consider foreclosure, rather than being put in touch with someone that could explain to them what happened with their initial agreement. 

I learned from my clients that there are consumer BLOGS about this very subject.  I would be happy to me with you (and your spouse) at a convenient time, here in Central Camarillo, to discuss some options and to try to assist you with your dilemna.  I base my business on coming from contribution, so. hopefully, I can help you, too.  In the interim, I have some more info posted on my Camarillo Website that may prove to be informative as well.  I wish you the best in getting the results you need and expect.
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November 07
 

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Question Can we use help for homeowners and Chase?
  • Latest answer by phils46
  • November 08
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