do I have any legal or consumer rights with this mortgage situation?

[Flowers]

I have not paid my mortgage payment to Chase Home mortgage since Feb2008. The 10% interest rate I was being charged was simply too much.
In June, I contact Loss Mitigation and asked to be considered for a loan modification.
In September, they offered the modification but wanted $5600 which I did not have.
I asked them to do a payplan, but they are dragging their heals.
They will not accept the money that I do have, always wanting more. The differential is always about $2000.

Now the arrears keeps getting higher, and does my ability to come up with an amount but I am always short.
I am well aware I am very behind, but these folks are extemely unresponsive.

I just want to ink a deal.

I want to make a $7000 down payment on Dec. 31, they want $8400 with payment of $2300 per month until May then a $50,000 balloon payment (which i will have by then)

But why will they not ink a deal with me?
I just filed chapter 7 this past week.
The value of the home is seriously plummetted down. no equity in the home.

thank you for listening.

[HHM]

If you just filed chapter 7, your house is toast. If you go into a chapter 7 behind on payments, they are going to foreclose.

[r.m]

II want to make a $7000 down payment on Dec. 31, they want $8400 with payment of $2300 per month until May then a $50,000 balloon payment (which i will have by then)

Even if you included the house in the BK, the problem can likely be fixed after they get relief, or you get your discharge.

Why do they play these games?

Because they can- and they WORK, quite often.

In the right situation, people will do cartwheels or rob liquor stores to keep their house.

And so it is with you, that they've continued to move the carrot just a few $k more out in front of your nose, and you've continued to up your declared contribution amount.

You're probably going to continue to get strung along.

What you need to do is find someone who has better contacts than you're dealing with right now.

[justbroke]

In the right situation, people will do cartwheels or rob liquor stores to keep their house.

If only robbing a liquor store would pay my mortgage, insurance and taxes on this house. LOL

[Flamingo]

Loan modifications come with certain qualifications and if you don't meet those qualifications or have the income, you won't be able to get one. Loan modifiations are not based on what you want to do but want the lender wants to do. It is obvious they feel you are still a risk and would not be able to pay back even with a modification.

[justbroke]

Loan modifications are not based on what you want to do but what the lender wants to do to you.

Fixed it for you!

And Flamingo is correct. The amount of documentation (income, insurance, taxes, the "i'm sorry" letter, etc) required is just like applying for a new loan!