Due to losing our jobs, a year ago, we called Chase right away and they told us not to pay and they would do a loan modification. They never got back to us but I kept calling them, and sent us a foreclosure notice. Then I called and they changed that and said we did not have to pay for three months, followed by a trial period making $50 payments for three months, followed by another three month trial of $150 per month payments, and finally three more payments of $350 per month which we paid.
Then, in August, they transferred our mortgage to a company called IBM out of California. We did the paperwork, etc. and we have never heard from them.
I finally wrote to them and said we were unable to make the September payment and still nothing.
Our balance is $155k but the house would probably only sell for about 98k.
I am sure they are really behind these days with regard to foreclosures and kicking people out. I have heard of a few people who have been in their homes over a year and the house has not been sold.
From what I’ve heard, most of these banks aren’t returning calls. They’re so inundated with foreclosures that they can’t answer everyone’s phone call. Your best bet would be to go to a branch and speak to a mortgage manager. That’s worked for a couple of my friends.
Where do you live ?