Applied for a loan modification in Aug 2009. Sent paperwork at least 6 times to them. They would receive it, but would be "missing pages" so I would have to start over again.
Never have I been given any updates as far as where they are in the process. You have to call Chase, get transferred around about 10 times because no one there has a clue what they are doing. Each phone call to inquire about the status of my modification request took at least one hour and got me nowhere. They would tell me I need to speak to someone in the
"Imminent default" department, they'd transfer me there, then say "sorry I can't help you, you have to speak to someone in another department, since your loan is currently less than 30 days late" and it would go on and on.
To top it off, once my loan became more than 30 days late, they no longer allow me to pay my mortgage online, they took away that option. I have made no less than 8 phone calls/emails about this topic and been given 5 different answers as far as why I can't pay my mortgage online. I have spent hours on the phone trying to get this option reinstated for me, and I never get anywhere. Again - no one at Chase has a clue what they are doing.
Also, Chase randomly decided to pay my Homeowners Insurance (which I have never escrowed) out of my escrow account. I have always paid my Homeowners Insurance myself yet some genius at Chase decided to have Chase pay it. What a nightmare it was to get that reversed. If I didn't reverse it, I would have had an escrow shortage which naturally would have increased my payment. I think this is something that Chase does on purpose, just to get your payment to go up so they can play with your money.
Today, almost one year to the date into the modification process, I got a response to my latest email. They told me that I have been denied for my modification request. Isn't that nice, they take one year to tell me I'm denied - no reason, just as simple as that, you're denied.
Needless to say, this whole Loan Modification Process is a JOKE. What a waste of time and money it is. I thought this process was supposed to HELP people and prevent them from losing their homes. I sure as heck haven't benefited from this process at all.
I don't know if I will qualify for a refinance, but rest assured as soon as I do I am leaving Chase and NEVER looking back.
I will never do business with Chase again, they seem to be the most disorganize company I have ever seen.
Product or Service Mentioned: Chase Bank Mortgage.