Chase HARP offer on my doorstep

[jerryj]

I came home yesterday to a Fed-Ex package on my doorstep.

 

It was an offer from my mortgage servicer Chase.

 

They offered me a streamlined refi through the HARP program.

 

No appraisal, all costs paid.

 

4.25% rate locked. I am at 6.63% now.

 

Just call it said.

 

So I did.

 

The rep said all I had to do was agree and my payment would drop from $900 a month to $700.

 

Is there a downside to this that I am not seeing?

 

Also I am 7 months out of bankruptcy.

 

Seems like a no-brainer but is there a gotcha?

 

Any help or advice would be appreciated.

 

Thanks

[ICANHASMUNY?]

I came home yesterday to a Fed-Ex package on my doorstep.

 

It was an offer from my mortgage servicer Chase.

 

They offered me a streamlined refi through the HARP program.

 

No appraisal, all costs paid.

 

4.25% rate locked. I am at 6.63% now.

 

Just call it said.

 

So I did.

 

The rep said all I had to do was agree and my payment would drop from $900 a month to $700.

 

Is there a downside to this that I am not seeing?

 

Also I am 7 months out of bankruptcy.

 

Seems like a no-brainer but is there a gotcha?

 

Any help or advice would be appreciated.

 

Thanks

 

get that in writing..... regarding the drop in payments.

 

they also know you can't declare BK agin for 7 years, so read the offer carefully.

 

 

you may still have to "apply" for this and pay all sorts of Fees.

 

when I google chase refinance offer ; "Scam" comes up as a search suggestion.

 

They wouldn't do this , or make this offer unless there it is in thier interest. -

 

Banks Certainly don't make these offers because it's good for you.

[breeze]

ITA. Chase has been hit with some legal problems lately. Research it thoroughly.

[jop3]

I have heard of this before with Chase, and it was legit. So, like the previous posters said, research thoroughly, and if it checks out, go for it! You won't find better that close to BK.

[jerryj]

I just got an email from the title company that is working with my mortgage company. They are saying that I have a judgement on my record and want to know if I have proof that it has been paid.

 

I think they somehow don't know about my bankruptcy.

 

Is that possible?

 

The mortgage rep pulled my credit while I was on the phone with them.

 

I reaffirmed my mortgage with them and had to redo an automatic withdrawal agreement because of the bankruptcy.

 

On one of the papers I was sent from the mortgage company about the refinance it has a box that refers to having been in bankruptcy and it is checked no.

 

On my credit report, the judgement they are referring to is listed as paid.

 

I guess that's how it gets listed after bankruptcy.??

 

Any advice on how I should proceed?

[jop3]

Provide the title company with your bankruptcy schedules showing the judgment included in BK.

[luckydriver]

isnt a fedex package a bit unusual for a credit offer?

 

i think i'd definitly call chases number independently

 

if you reaffirmed i dont see why they would be trying to help you..if you didnt, then i coudl see why, they want you to have a new mortgage to put you back on the hook

 

i just wonder how they can package up your loan to sell it since you are way under the X years post BK normally needed.

 

also if you fill out another app you will have to disclose BK so that wont ever be a secret

[whipster]

I just got an email from the title company that is working with my mortgage company. They are saying that I have a judgement on my record and want to know if I have proof that it has been paid.

 

I think they somehow don't know about my bankruptcy.

 

Is that possible?

 

The mortgage rep pulled my credit while I was on the phone with them.

 

I reaffirmed my mortgage with them and had to redo an automatic withdrawal agreement because of the bankruptcy.

 

On one of the papers I was sent from the mortgage company about the refinance it has a box that refers to having been in bankruptcy and it is checked no.

 

On my credit report, the judgement they are referring to is listed as paid.

 

I guess that's how it gets listed after bankruptcy.??

 

Any advice on how I should proceed?

 

The title company is referring to your record in the land title search. Something needs to be filed in the property records to show the judgment has been extinguished.

[jerryj]

I responded to the email from the title company. I stated that the judgement they mentioned was listed as paid on my credit report.

 

I stated that the mortgage rep had just pulled my credit and they were welcome to get a copy from them or to ask them for confirmation.

 

They replied that they would get a copy of the report chase pulled.

 

We'll see what happens.

 

Hopefully I won't be reqiured to vacate the judgement or other courthouse stuff.