Our balloon mortgage matured 6/08. (At the time, we were w/ Washington Mutual who was bought out by Chase.) We were unaware that our mortgage was going to mature. The mortgage maturity caused the bank to cancel our automatic monthly withdrawal. We were notified in 8/08 about the past due payments & worked with Sherry Blisset, Chase Home Loans in IL to modify the loan & reinstate monthly withdrawal from our bank account for payment who told us that this was a permanent fix. This 'fix' lasted only a few months when the withdrawals were again cancelled without our knowledge or consent.
We were notified several months later that our loan was again past due & we had to start the paperwork & loan modification all over again. (The paperwork & loan modifications take 20-30+ hours on the phone over several weeks w/ min. 10 people before you are transferred to the correct department. A colossal waste of time & money.) The 'permanent fix' & reinstated monthly withdrawal for mortgage payment again only lasted a few months when it was unexpectedly cancelled without our knowledge or consent, of which we were notified in October 2009.
For the third time, I have already spent over 60 hours on the telephone with numerous, numerous people trying to GIVE CHASE MONEY & fix our loan so that we can continue to make payments. The first nine people that I spoke with all said the same thing- They had no idea why, but they were unable to take any money from me, they could see the problem but had no idea how to fix it and also had absolutely no idea who I could speak with to fix the problem. They even acknowledged that while I am begging them to make a payment & they are refusing to take it, that they were going to continue to report the delinquent account to the credit agencies which is significantly negatively affecting overall credit scores & line of credit with our credit cards. The Loan modification department continues to tell us that we need to modify our loan. We have done this TWICE and it has not been a permanent fix either time. Filling out all of the same paperwork and submitting it for a THIRD time will most likely not be a permanent fix either. We would like a PERMANENT FIX.
So in a nut shell, we owe Chase money for our mortgage payments- I have repeatedly tried to give Chase the money owed- They refuse to take my money, don't know how to help or who can help fix my account and continue to report me to the credit agencies & seriously mess up my credit. We continue on-going attempts to work with Chase, currently with no positive outcome.
Our Desired outcome:
1. We would like to be able to make payments to Chase to have our account balance up to date. (How many people do you know who BEG to make their mortgage payment???)
2. We would like to have our mortgage PERMANENTLY 'fixed' so we are not running into the same problem every few months.
3. We would like to have the monthly payment withdrawal PERMANENTLY reinstated so that we can continue to make our mortgage payments ON TIME from our Chase bank account.
4. Most importantly, we would also like Chase to update the reporting with the credit agencies (going back over the last 1 + years) so that our credit is not negatively affected.
Please help us! We WANT to pay our mortgage and are devastated by the effect this (and the last two times this happened) is having on our credit. Prior to this, we did not have any negative marks on our credit reports. This is causing significant damage & we have no control & no way to fix our damaged credit which will haunt us for the next 7-10 years.
We are in Illinois. If anyone has any suggestions, we would LOVE help!
Chris Hart
[email protected]