Had a teleconference with Chase on 11/22/10 regarding a loan modification, our attorney was also present. We were told it would take about 30 days for a decision. On 12/31/10 our attorney left us a message to find out if we had heard from Chase yet and if not don't worry because it usually takes 45-60 days for a decision. Okay, so now we are going on 90 days without a word from Chase and I'm wondering if we should try to contact them or don't rock the boat and continue living rent free and save as long as possible? I've read on other posts that you should bombard the bank with phone calls but I'm just not sure? Any advice?
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I remember it took at least a couple months and a lot of calls and a lot of repeated document submissions for me to get a loan mod/forbearance plan. I am now in your shoes where I have just submitted a loan mod application post-bk and am about to follow up to see if they got it and what the status is. One thing is don't wait until you see a trustee sale posted on your door. This will be too late to do anything as it will take months for them to look over your paperwork.
I would suggest calling your mortgage company to follow up. At least they will document your phone calls and why you are calling and when they look up your file, they will see that you want to work something out with them.
I don't think calling them will in anyway put your house on a faster track to foreclose. But I have wondered about this myself. -
Obviously you havent done a retain and pay since you state you havent paid in months and included the house in your BK. I guess the bigger question is what is the reason for seeking a mod in the first place. Are you just trying to buy some time? Are you planning on retaining and paying but only if approved for a modification?Comment
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We would like to retain and pay depending on the loan mod terms.Comment
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