The loan got sold/transferred from Chase to IBM LBPS on Oct 1. Chase signed a modification agreement before tranfer. Chase partially modified the loan in system and left it on IBM LBPS to complete the remaining terms as agreed on the perm. Modification agreement. Till date IBM LBPS hasn't honored the modification terms and trying for in-house modification. They don't have many options for modification except for checking for HAMP. If you don't qualify for HAMP then you don't have a choice - either liquidate the property or re-instate the loan.
Fannae Mae hasn't also been able to help. I'm trying for modification since Aug, but no success. Every representative have different answer to give by looking at my file. Who knows what's the truth. The reason that they can't honor Chase modification agreement is because they can't get all information from Chase to complete their modification. They can modify the loan once year and my loan has already been modified, but looks like nothing has been done. My account instead looks more messy than before due to no help from IBM LBPS.
IBM LBPS is just a debt collector with poor customer service and provides false information to the customers. Their Business operations is weak and loss mitigation representatives doesn't have the skills to do their job. They can't get any decision made instantly and provide me the correct information or direction to what should I do, if IBM LBPS is not going to help me. I really want to keep my home.
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