radi8 Posted December 20, 2008 http://www.bankrate.com/brm/news/mtg/20081...ase-WaMu-a1.asp Corporate owner: J.P. Morgan Chase Contact: Call the telephone number on your mortgage statement. Call (800) 848-9136. Call (866) 550-5705. Visit a Chase regional counseling center. Web site: www.chase.com. Noted qualifications: Hardship letter may be required. Owner-occupied residence. Mortgage owned by Chase, WaMu or EMC or with investor approval. Target debt-to-income, or DTI, ratio: 31 percent to 40 percent, capped at 50 percent for borrowers who've demonstrated they can pay more. Options: Repayment plan. Mortgage modification in hardship situations. Principal forbearance. Extension of loan term. Deferral of principal. Interest rate reduction. Foreclosure moratorium. Interest-only payments for 10 years. Hope for Homeowners program. Refinancing with lender-paid closing costs. Pre-foreclosure short sale. Deed in lieu of foreclosure. Letters: Chase will send letters to borrowers who have subprime adjustable-rate mortgages or payment-option ARMs. Borrowers are more likely to receive a letter if they've racked up the maximum amount of negative amortization and their interest rate is scheduled to reset. Quote Share this post Link to post Share on other sites
edm Posted October 21, 2010 Are we saying that with Chase the borrower is not eligible for short sale / loan modification if they do not personally occupy th eproperty? http://www.bankrate.com/brm/news/mtg/20081...ase-WaMu-a1.asp Corporate owner: J.P. Morgan Chase Contact: Call the telephone number on your mortgage statement. Call (800) 848-9136. Call (866) 550-5705. Visit a Chase regional counseling center. Web site: www.chase.com. Noted qualifications: Hardship letter may be required. Owner-occupied residence. Mortgage owned by Chase, WaMu or EMC or with investor approval. Target debt-to-income, or DTI, ratio: 31 percent to 40 percent, capped at 50 percent for borrowers who've demonstrated they can pay more. Options: Repayment plan. Mortgage modification in hardship situations. Principal forbearance. Extension of loan term. Deferral of principal. Interest rate reduction. Foreclosure moratorium. Interest-only payments for 10 years. Hope for Homeowners program. Refinancing with lender-paid closing costs. Pre-foreclosure short sale. Deed in lieu of foreclosure. Letters: Chase will send letters to borrowers who have subprime adjustable-rate mortgages or payment-option ARMs. Borrowers are more likely to receive a letter if they've racked up the maximum amount of negative amortization and their interest rate is scheduled to reset. Quote Share this post Link to post Share on other sites
edm Posted November 18, 2010 The CEO of Chase Mortgage according to newspapers and Congressional hearings is: David Lowman Quote Share this post Link to post Share on other sites
blindbudsmoker Posted September 10, 2011 Hope for Homeowners program. Had two different employees at EMC say that i cannot apply for this. Their investors will not approve it. I will call again tomorrow and ask again, but seems like a no go for EMC people. Quote Share this post Link to post Share on other sites
CH4699 Posted August 27, 2013 Being a Chase customer for the past 15 years of so, I can honestly say that this year, it was a horrible year to be a customer. I was enrolled in their “Hurricane Sandy relief”program from November 2012 until June 2013. The premise of the program was to defer the mortgage of those affected by the storm for 90 days; or so it wasexplained to me. Long story short, at the end of the 90 days, after 3 letters of foreclosure and countless phone conversations ( I have them documented) . Ina nut shell I was told: The letters are auto generated, you are fine.You need to pay the 3 months of deferred payments as well as the current month upon completion of the program.Several people enrolled in the program misunderstood the premise.Needless to say I need to re-enroll and hope to find all of the finances needed to catch up this loan. Re-enrolled, I still received countless phone calls, and 3 morecertified letters until finally being able to make 2 payments totaling 11K…(borrowing yet again). The bank reported me to CA’sfor 60 day late payments for issues that were resolved more than once on the phone. My credit is not the best currently,and I am trying to fix it, but with friends like this ( Chase)…….you know the rest. Quote Share this post Link to post Share on other sites