“Darnit, where was that mortgage modification paper? I knew I put it somewhere. Oh well, let’s just foreclose on these people’s house. STAMP! Whoo, that was tough. Time to treat myself to a Diet Coke.” That’s an imaginative reenactment at what’s going on inside the mortgage departments of the biggest banks in America: total disorganization, the right hand not knowing what the left is doing, a bureaucratic and document-strewn nightmare that can swallow up people’s homes right from under them. [More]
mortgage modifications
Chase Sued For Telling People To Stop Paying Mortgage, Then Foreclosing
By 4.7.10
We hear stories all the time about people who are having trouble paying their mortgage, call the bank for help, and are then told there’s nothing the bank can do unless they stop paying their mortgage. Well, one couple is suing Chase after they followed that advice, and then got foreclosed on. [More]
Data Shows Horrifying Bank Of America Refinance Story Actually Typical
By 3.18.10
The Chicago Reporter is a publication that reports on race and poverty in Chicago. This issue’s cover story is about mortgage modifications and the struggles that homeowners face when trying to access the Obama Administration’s refinance program. Apparently, banks are so incompetent that it can be almost impossible to actually modify your mortgage.
The article tells the story of a small business owner who thought he would always be able to pay his mortgage, but whose work dried up with the economy, and his wife, who was laid off from her full-time job. The husband was injured on the job, and the medical bills piled up. [More]
Reach Chase Executive Offices For Mortgage Modifications
By 3.15.10
Here is a fun-pack of executive escalation contact info you can use if you’re trying to get Chase to modify your mortgage. With the bureaucracy and indifference staring you down, you’ll need every vector you can get your hands on. [More]
5 Reasons Not To Go For A Mortgage Modification
By 1.6.10
A Wise Bread story gives five reasons a government-backed Home Affordable Modification Program (HAMP)
may not be a bright move. [More]
Mortgage Mod Scams Using Paperthin Lawyers As Legit Front
By 7.24.09
“Let me put it this way. It’s like food stamps,” said the mortgage modification telemarketer trying to talk consumer advocate and Red Tape Chronicles blogger Bob Sullivan into a new loan. Following the trail of who this guy works for lead Sullivan to discover a new kind of mortgage modification scammer.
