To good to be true

[Hlc]

I'm filing Chapter 7 hopefully this year. I owe Chase on three cc cards around $40,000, Chase also has my home mortgage which I plan on keeping. I recieved a fedex letter from Chase mortgage that at absolutley no cost I'm eligible to lower my mortgage loan apr to 4.63%.My current rate is 5.25%. All fees waived, no credit checks, no closing cost, etc. All I have to do to qualify is have a steady source of verifiable income along with sufficent assests to close within 30 days and no past bankruptcy.I plan to file in Dec.

What's the gotcha?

[LadyInTheRed]

I did a Google search and found the following links about the offer. I just glanced over these, but it sounds legit. Some say there was principal added, but that could be the current month's payment. If you accept the offer, review the paperwork closely and question anything that doesn't look right.

http://noclosingcostmortgages.blogspot.com/2010/06/chases-streamlined-refimortgage-rate.html

http://www.zillow.com/advice-thread/Chase-Mortgage-Rate-Reduction-Program-for-good-customers-Scam/331290/

http://www.fatwallet.com/forums/finance/1010575/

[DebtHater]

The gotcha here is the offer is coming from Chase.

Usually if an offer is too good to be true, it is not true. This holds true ten fold with a company known for lies and deceptive practices such as Chase. I would request the offer in writing with specifics, not something from a blanket mailer.