This is a discussion on HAMP= FAIL within the The Political and Social Snake Pit forums, part of the Current Happenings category; If you have time to read the comments. Pat & I have been caught up in this mess with Chase ...
If you have time to read the comments. Pat & I have been caught up in this mess with Chase Mortgage company going on 2 years. First we qualify for Loan Modification, put on a trial period, then we don't, then we do. It's fucking mess, and there are lots of other that are facing foreclosure due to this failed program.
http://www.propublica.org/article/lo...rence-to-banks
That sucks.Banks get away with murder.
So many people losing their homes, because we trust our Goverment, we believe the bullshit they tell us....
An early problem for the program was that banks and other mortgage servicing companies were quickly letting homeowners into the program on a trial basis, but failing to make decisions regarding hundreds of thousands of homeowners while multiple government deadlines passed.
To push banks to solve the problem, senior Treasury official Michael Barr, who has since left the department, warned in a November 2009 conference call with journalists that if the banks didn't clear their backlogs, the firms would "suffer consequences." Treasury issued a press release the same day saying banks could face “monetary penalties and sanctions.”
It turns out Treasury had already taken most penalties off the table.
CJ, I too applied for loan modification with Indymac and was turned down. I sent in loads of paperwork and personal records over and over, with my mortgage company paying no attention to my situation. I even applied again after being rejected the first time. This was over an 18 month period. They never responded to my applicaton except to request more and more paperwork. The program is a fucked up program that has failed to help many homeowners in vulnerable positions. I hope you and Pat have better luck than I did.Originally Posted by CJ
Have you and CJ, tried finding a good attorney? Also look for class action lawsuits because they have many out there. Good luck.
As I am reading the comments under this article, I am seeing lots of talk about class action lawsuits. People are talking about this more and more. We hear on the news often how many house foreclosures there are, but what about the ones like us, that are trying to save our homes, but these fucking banks keep adding late charge upon late charge, AFTER they have told you to send less money because you are in a "loan modification" program. So since you haven't paid the total original set payment, you are "late", and get charged late fees...Your AAA+ credit rateing has just went down the shitter, so you can not get refinanced..These banks are fucking peoples lives up, ruining their credit, putting people on the street, and the Goverment is assisting in this process. They aren't holding these banks accountable..
Having a house foreclosure, filing bankruptcy, these are embarrasing to people, as we have pride, it's in our human nature, right...Well, there is too much of the same shit happening to people, and the big offenders are CHASE, BANK OF AMERICA, WELLS FARGO...
Yea, Goodluck with a lawsuit against these big game cocksuckers.
Last edited by CJ; 01-31-2011 at 02:01 PM.
Please don't bite off the head of the messenger ..
I'm at this moment looking at my Barron's Legal Guide. I would suggest you lookup Fraud and in particular:
Fraud In the Factum
Fraud In the Inducement
Fraudulent Conveyance
Investing 3 to 4 hundred dollars in a lawyer more likely than not will produce action if that lawyer makes it clear they will file a legal challenge, that may put a stop on the actions to foreclose. Charging them with fraud with intent to profit will take month if not years to hear and on top of that file chapter 13 bankruptcy will delay any forceful or willing repossession until the court hears the fraud charges.
So ... I'm not giving legal advise just spend the money and talk to a good contractual law attorney. What do you have to lose at this point. Plus join in any class action suits just so if they do prevail you will get some of blood suckers money.
I remember a case where a person filed in a small claims court and stopped a legal team dead in their tracks until the case was heard because in small claims you and the respondent must defend yourselves .. that took the sharks out of the water and bought the person more time to build a case of fraud..
In most jurisdictions if found guilty of fraud they can be sued for full damages including those to make the wrongfully damaged persons credit right.
Don't get mad at the government in office they are trying to do right by righting the wrong the corruption has caused buy those who would vote for the preservation of the wealthy and not their own self interest.
Chapter 13 would be all good, except that in Sept 2010, she was released of debts under Chapter7. What I am reading is in Wisconsin, you can not file chapter 13 for 4 years after 7. Why would we be so foolish not to file the house? Well, Chase told the lawyer, and told Pat that we were approved for the loan modification, they needed a tax form signed. A few days after being released, Chase then informed Pat that she no longer qualified for the modification because she was debt free, and to pay the full amount due, NOW or she would be put in foreclosure. During this "trial period" payments were $200 less. They took the amount short on the "trial peroid" added it to the late payments, and have added a late fee each month. It's crazy. A week later we get a letter from Chase saying we have a new Mortgage company called LBPS..the nightmare starts all over again...with higher late charges, more interest added, they were accepting payments, and last month they sent it back...
It's very sad, and very frustrating...
I feel your Pain... I am a chase slave as well.. Originally my mortgage was through wamu, but we all know what happened there.
I spoke with a couple down the street from me, who has been fighting B of A for 3 yrs now.. (part of a class action) when they received their foreclosure notice after being behind and trying to work with the bank, they stopped paying, joined the class action, and have been fighting ever since. they also have not paid a dime to the mortgage company. instead they have put away their mortgage payment every month.. after 3 yrs it adds up. they said if they win the lawsuit, the house is theirs.. if they lose, they move with the 40 grand they have saved by not paying their mortgage during the lawsuit.
the banks are taking houses here left and right. My old Neighbor was 3 months ahead on his mortgage when he lost his job. He tried to work with the mortgage company while still 3 months ahead.. they refused to talk with him about anything except when his next payment was due.. he walked away from his house the day he was supposed to make another payment. after sitting empty for over a yr, somebody recently bought the house and moved in... My neighbor bought his house at the height of the market for 300,000.00 .. the new neighbors bought for 91,000... the banks are losing left and right all because they are too greedy to work with current owners..
we are stashing money now...my credit has been repaired. Nobody is gonna buy our house, it's out in the middle of no where. the price of gas going thru the roof, it's 65 mile N of the twin cities. Pat is very emotionally attached as it represents many years of savings and hard work, I say keep stashing the cash, and move to an apartment if they foreclose. In two years I can buy the house at 30% of what we paid originally. I can't buy the house now, because I reside there.
Pat did get a lady from the HAMP program for over an hour to try and work out a "conventional" payment program with LBPS. When the Gov HAMP loan officer called LBPS, she was thrown into a voice mailbox that said it was full. She then tried every department, and got the same thing, mailbox full. Pat has been trying for a week to get mailbox full message. The HAMP lady said Pat's case will be placed as priority because the loan company is not taking calls, and refusing payment. Bottom line is, she will no longer qualify for the loan modification, as she has permanent full time work now.
I do believe fraud has been committed for the bank to gain more money for late fees, etc. I am going to start searching things that Niki suggested...This could hold them off, to proceed with foreclosure.
The Government is not holding these banks accountable FFS...what the hell?
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