Fee Assessment

[howdidithappen]

Have mortgage with Chase - last two months have been getting a "fee assessment" of $14.00 plus a late charge fee. They do not specify what the $14.00 fee assessment is for. Any ideas?

[Granny]

The 14.00 fee is for someone to do a drive by and check the condition of the property and to see if it has been abandoned.

You won't ever really notice them because they never get out of the car, they just drive by slowly like they are looking for an address. We live out in the country, so we don't get a lot of traffic out here. When the house around the bend was going into foreclosure the traffic increased. When they moved, it decreased again. When I went started getting late in my payments, the traffic increased again and then when I filed, it magically decreased again. BTW, I am also financed by Chase.

[howdidithappen]

Strange someone one in a car asked me last weekend when I was moving the lawn where a house was on the street using the house number... How many months were you behind?

[Granny]

I had been charged the 14.00 fee several times over the last several years, anytime I was behind the second payment, they did a drive by.

[CindyLou]

I would certainly call chase and ask!!

[howdidithappen]

It is a good idea to speak with your creditors when you're behind in your payments? Calling them will cause numerous questions. What do you think?

[Granny]

Are you behind on the payments? If not, it appears Chase thinks you are. I've never seen them tack on the 14.00 fee unless I was behind. Have you filed bk yet?

[howdidithappen]

YEs, I'm behind - no> i have not filed.

[SinkingFast]

Just because you're behind doesn't mean they won't talk to you. And questioning a questionable charge being added to what you owe is a reasonable request.

You will probably get the "When can you pay and how much will you send" line. But it probably won't be high pressure. At this point, you're still dealing with Chase people. "Company" people are much more low key than outside Collections is gonna be. At least that was our experience.

[howdidithappen]

Can you make partial mortgage payemnts?

[Granny]

Can you make partial mortgage payemnts?

Since you haven't filed bk yet, you can still call Chase and make arrangements to get current. I did this once and it wasn't too painful. They wanted me to pay the regular monthly payment and then we spread the two months that I was behind out over something like three months. They call this a mortgage modification. I would have done that again and not filed bk but I didn't get around to it fast enough and they filed the foreclosure paperwork so I had to file sooner than I had planned.

I believe there are some other options that Chase has to help you get current but I don't know what they are. Give them a call and see what your options are before it goes into foreclosure. Once that process is started, your only option may be to file bk before you are ready.

Good luck and keep us informed.

[howdidithappen]

Thanks for your help - do they ask you alot of questions before they extend the payments? How many months before they put you in foreclosure? Do you know if you have to pay the fees right away or can they wait a little while?

[Granny]

Thanks for your help - do they ask you alot of questions before they extend the payments? How many months before they put you in foreclosure? Do you know if you have to pay the fees right away or can they wait a little while?

Yes, I had to go through my whole financial situation with them. Income, expenses, other payments etc for them to determine how much was left over to pay towards the arrears.

They filed for foreclosure when I was 3 full payments behind. As soon as the grace period expired in that third month, they contacted their attorney to start the foreclosure procedures. Once you are two payments behind, they require payment in certified funds only.

I believe the fees can be paid over time just like the arrears. I always paid my late fees and that pesky 14.00 fee whenever I made the payment, so mine didn't add up to much when they filed the foreclosure.

Keep in mind that once it goes to foreclosure, not only do you have to make up the payments, you have to pay their attorney fees too and that was $1000 right off the bat. That's what caused me to file bk, I couldn't come up with 4k right away. By the time I filed for bk, I was 4 payments behind. The interesting thing was that when they filed their claim for the bk, the attorney fees were less than indicated on the foreclosure paperwork. However, their claim for the secured portion, which is being paid outside of the bk, is higher than my note balance and no body will tell me why.

As stated in another thread, I may be getting hit with some other charges after I come out of bk.

If at all possible, I highly recommend you deal with Chase and get them caught up before you file bk.