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I was one of those very fortunate to have a success story settling my 2nd morgage thanks to the installment loan online incredible advise of so many members on this forum! I am back again asking for assistance as I cannot imagine a better place to be. I very recently lost my job and I am hoping to turn this into an advantage by using it as a pay day loand leverage to force Chase to either allow me to refinance or do a modification. I have tried twice in the past and Chase told me that I did not qualify for refinancing as my loan is underwater nor a modification as I do not qualify for HARP. They also told me that Wells Fargo is the investor and did not approve. I have been reading over and over on the forum trying to educate myself about both refinancing and loan modifications. I am however still confused and not sure what direction to go. Before I installment loan online start dealing with Chase, I am hoping for guidance. The details of my loan are: As part of my severance package, my company will keep paying me my full salary for 7 months along with my bonus.

My husband is still working, but he has a different account and he is not on the Chase mortgage.

However we do file taxes jointly: I am not sure if this will be an issue if they see his income. So I am at loss how much money to reflect in my account to convince Chase. Any advice how to deal with them and how to respond? The main problem you are going to have now in trying for a loan modification is that you have no job and or permanent income. Mortgage servicers like to see that you have a permanent job with steady income before they will grant a loan modification.

They do not consider severance income and or unemployment as permanent income. Hence, most likely, you will have to be employed to get help on your mortgage. They want to see your employed, you have a goof credit score and also that you are making mortgage payments on time. With a job, and decent credit, a 30 day late on your payments might be acceptable, but once you go 60-90 days late, your chances diminish. Is it better to get the severance payment deposited in a different account? How you shuffle money in accounts will make no difference. You have to be upfront and tell the truth if you do have unemployment income regardless because it would be unsecured loans calculator mortgage fraud if you did not and they will find out during the underwriting process. Is it absolutely required to show 2 years of taxes? You can refuse to show anything that you do not want to show. They will then most likely refuse to process your loan modification application.

But as I stated, with no job, it will be impossible to get a loan modification.

Any advice how to deal with them and how to respond?


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You can either just ignore them until you are employed again or you can play the loan modification delay game which is sometimes called the HAMPster Wheel by submitting applications etc. Most people wait until they are in default (90 installment loan online installment loan online days or more late) to play that game. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet.

You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.

Please Read our Thank you so much for reading and responding as always! I came back home from travel yesterday and went directly to the forum. I have to admit that I was a bit depressed after reading your response.

I was so sure that I could turn losing my job into a good thing. I was shocked that I turned the payday loans direct lender house upside down looking for the papers I had signed and spent hours reading on the internet. It turns out that I have something called interest-only payment for 10 years and now my payment is up to be adjusted as the 10 years are up to include principal. I always assumed that I had a fixed interest and fixed payment until the end. The irony is that I fought to get rid of the Citi 2nd mortgage and I was so happy that I could finally afford to save a bit of money for my kids instead of paying for the 2nd mortgage.

But only to find out few months later that my 1st mortgage is actually going to go up.

My payment is now going to be even much higher than what the 2 combined mortgages used to be. Just so you know, you have options and you will make it through this. What I love about you is that you are realistic and also honest with yourself. This is important because now you can see your options and plan accordingly. Hence, there is definitely some light at the end of the tunnel. The good news is that now you can save some money if needed be. Meaning you will not be making a mortgage payment for some time until you either get a loan modification and or some repayment plan that you can truly afford long long term online loans term. That will only happen if they agree to it once you are employed. If they deny you, you can hold it out as long as possible and save money longer. I have seen some people stay payment free anywhere from 1 year to as much as 7. This can help in the future as you rebuild after these mortgage issues are settled. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice.

Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Hi Moe - 1st of all I hope Micah is getting better he is in my prayers...

But I am still I was under the impression that I do not have any options at all until I get a job. Actually the truth is that I have been freaking out! My husband is self employed payday loans san antonio tx without a consistent income and we would rather save what he makes for the kids instead of pouring that too into the Chase blackhole.

Could you please help me understand the type of options you are referring to in your reply? Also do I really have any choice to continue NOT to make any payments at all? Yes I would love to save money for the kids, but can I do so without losing the house? I have been doing a lot of research, but all options I look into seem to lead to a closed door. I was like you, did not want to lose the house...... Moe and the Loansafe team were the greatest resource I had. Right, you will not get a loan modification until you are employed long term and stable. The key here is if you want to keep the home, you need to be working. If you do not find work, you will eventually lose the home so you need to understand this. But it will hurt you in the long run health wise and psychologically.

You need to try to get over this by telling yourself that this is just a home, and the most important thing is you have your family and health first and a job later. There are plenty of home and places to go as MD69107 said above. You see, most LoanSafe members feel exactly as you do and some ended up losing their homes. What they ended up finding out is that sometimes it is a blessing in disguise and a learning lesson. They also realize their homes and debt do not define them as a person because they are just things and material pursuits. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The payday lone opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Since 2007, the LoanSafe forums have helped millions of homeowners over fast loans in 1 hour the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages.


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In the past you suggested i direct cash advance lenders go to a loan center - which i am going to do next week. Our home is not underwater but has a 40 year interest only that just readjusted to a 3. Yes this makes the loan more affordable - but it is not permanent.

In the past you suggested i go to a loan center - which i am going to do next week. Our home is not underwater but has a 40 year interest only that just readjusted to a 3. Yes this makes the loan more affordable - but it is not permanent. It is just easier to go through the process when you are able to speak to someone face to face and let them show you the calculations and explain where it is that they are getting that you make too much money. That would still be my suggestion, and if they are unable to help, my next suggestion would be to go through NACA. Here is that information I cash loans no credit checks am not sure what you are referring to when you say you are considering a respa, but a loan modification denial would not fall under the RESPA regulations, they deal mostly with escrow accounts and real estate sales procedures.

The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Get free mortgage help today. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. I am a videographer, personal loans bad credit monthly payments and of course this year has not been full of work.

I have been considering doing a documentary on this whole process, and yes using speaker phone when talking with Chase to record their idiotic responses.

Does anyone know the legality of this - since they inform you at the beginning of every conversation that it is being recorded, does that legally entitle you to record as well? I have had no luck with getting any of the correspondence in writing - my counselor in Imminent Default and his supervisor say they have no authority to send me anything in writing.