My wife and I have been going through the same problems as literally everyone else trying to get a loan mod from Chase. We started the process in March of 2009. We submitted 206 pages of documents. They told us that we were the perfect candidates for the program and that we'd hear something in 30 - 60 days. We kept calling for updates and 3 months later, they told us that they just realized it was all sent to the wrong department. Since then, we have re-submitted the entire package at least three more times. They have requested some of the same individual documents 4 or 5 times in some cases.
They assigned us to a person on the executive resolution team who rarely called us when she said she was going to and pretty much snubbed our emails. Each time we thought we were making progress, they would change our contact person. This happened three times after being assigned the first contact. It took us three weeks to get in contact with anyone at one point because they "accidentally" assigned us to a person who was on sick leave. If you are sent to the executive resolution team, don't think that you're making progress. They do no more than anyone else.
This is just scratching the surface of what we've dealt with. If any company was this incompetent, they would've gone out of business ages ago (unless, of course, the government loans them several billion dollars to keep going).
What discourages me most is not the actions of Chase, but the fact that everyone knows exactly what they're doing and nobody seems to care to do anything about it. This isn't just a small number of people in this position, it millions!!!!
People like myself aren't in a position to do much. The media doesn't seem to care enough to raise a stink. Politicians locally can't do anything because... well, they're local politicians. The rest of them are only concerned with being re-elected and are probably given some sort of incentive by the banks to look the other way. Or maybe your average senator never has been and never will be in a position where he or she is looking at foreclosure.
I guess that the only thing to do is to vote against all of the incumbents. If someone is running for re-election, I'm going to vote for the other person. I no longer think that one party is going to be a bigger help than the other. They're two different sides of the same *** sandwich.
I'd love to see everyone else in my position do the same thing. Vote the people who are in office out of office and tell them why. Maybe when the next batch of reps arrive, they'll see that their jobs aren't guaranteed and that we are the ones who give them these jobs. They're working for us, not the corporations. Without us voting them in, they aren't going to be in a position where they can get all of the perks that come with the job.
Just a thought. Then again, I don't own a bank, so what do I know?
Product or Service Mentioned: Chase Bank Loan.
Monetary Loss: $465.