In the summer of 2008 I began loan modification process with Chase Bank. We received a loan modification starting with our October statement. Prior to the modification we never missed a payment and have not missed a payment since. On the 2nd of January we received a loan statement showing that all our payments (17) had been reversed and put into a suspense fund. I called Chase that very day and was told it was a computer mistake and no to worry. But I did not trust them and called every day. Stories from Chase employees varied from, someone at the time of modification made a mistake on a FANNYMAE form to they did not know why our funds were reversed and suspended. As stated we were never late or missed a payment. I was consistently told not to worry. On Thursday of this week (January 7th) we received a letter from Chase saying that our home was in danger of being forclosed. That same day a Chase inspector came to our property to see if it was still occupied (tresspassing) I called Chase again and they said that they would put the problem into research. However I had been told on Monday, Jan 4th that they had put in a research request and the funds would be applied to our mortgage loan within three days. As of Friday, the $34,514.00 in payments we have made was still sitting in suspense and only then was a request put into research our account. I was told that the funds should be reversed by this coming Wed. I don't believe it. Our credit has been damaged and I am very afraid that this computer mistake will cause the loss of our home. Has anyone else had this problem who modified with Chase in October of 08. The statement we received with the reversal and suspense of funds showed that all 17 months of payment were reversed on the same day December 15th. Tomorrow I will be taking this to the N Y State A. G to seek some help. Annie Hudson NY
0 comments