Chase Mortgage after discharge

[LimpDisc]

For anyone who had a Chase mortgage going into BK and retained the home\mortgage. Can anyone tell me about their experience with a Chase mortgage after discharge.

Did you get access to your account again after discharge?

Did you get statements during BK or start getting statements again after discharge?

[WC Nurse]

I have both a Chase Mortgage (345k) and a home equity loan (40K) with Chase. Our chapter 7 was discharged in July '09. We did not receive any statements during the BK and did not have online access during that time. We did start receiving statements again after the discharge and also regained access to our accounts online. I have since applied for a mortgage modification on the first and have just completed the 3 trial payments as of 12/1/09; still waiting for a decision as to whether or not it will be permanently modified. If it is, I will then apply for the HEL to be modified also. I'm over $100k upside down and technically can walk away from the home since both the mortagage and HEL were discharged in the BK. I'm hoping Chase will see it's to their advantage to help us stay in the house. We'll see what happens....

[LimpDisc]

Thank you so much for your story. We hope our online access will be restored and statements resume after discharge.

We don't need our loans modified, but very happy to hear their working with you to keep your home.

Hopefully I'll hear some other stories from posters who had the same experience.

[SPalin]

Has anyone checked their CR to see if the mortgage is IIB... mine just shows agreed as paid? I'm not reaffirming with Chase as they wanted $160 more a month for trial loan modification over my normal payment!

[LimpDisc]

Has anyone checked their CR to see if the mortgage is IIB... mine just shows agreed as paid? I'm not reaffirming with Chase as they wanted $160 more a month for trial loan modification over my normal payment!

Only filed about a month ago and my mortgage does not show IIB on my credit report. Also not reaffirming my mortgage. Strange that you are so close to discharge and your mortgage doesn't show IIB.

I'd like to hear more about your mortgage account after discharge. Chase has been nice when I talked to them about filing BK. They said I would get online access back after discharge. Hope that's true.

[freakedout]

wc nurse: did you just continue to make your mortgage payments as normal even though no statements/online access. We filed mid December 2009. Today I pulled up my online banking and my two mortgages no longer show on there. I have two houses with loans at the same bank. Couldn't sell the first house which is part of the problem why I am in this position. We are letting the first house go and are close to foreclosure so I understand why that one is gone. But our current home we are mostly current. Maybe 15 days late on last payment. When I called the 800 number, it said my balance was zero on our current mortgage. I owe $465,000. Is that normal during bankruptcy that your online and phone information is just taken away and would they say zero balance. It was on the automated system. too early to get a live person.

[LimpDisc]

wc nurse: did you just continue to make your mortgage payments as normal even though no statements/online access. We filed mid December 2009. Today I pulled up my online banking and my two mortgages no longer show on there. I have two houses with loans at the same bank. Couldn't sell the first house which is part of the problem why I am in this position. We are letting the first house go and are close to foreclosure so I understand why that one is gone. But our current home we are mostly current. Maybe 15 days late on last payment. When I called the 800 number, it said my balance was zero on our current mortgage. I owe $465,000. Is that normal during bankruptcy that your online and phone information is just taken away and would they say zero balance. It was on the automated system. too early to get a live person.

Yup, it's normal for your account to show a zero balance and lose your online access after filing bankruptcy. We lost online access right away and it won't be long before our mortgage shows zero balance. We plan on keeping the house without reaffirming.

Did you get special numbers to call from Chase? I will send you a PM with the numbers they provided to us.

[WC Nurse]

Hi FreakedOut. During the BK, we made our payments through Western Union. Once we were discharged and I got online access back, I was able to resume paying online. But since we are now in a trial modification, I pay by phone but still have online access to my 1st. I've made 4 trial payments by phone so far and am still waiting for an answer as to if we're going to get a permanent modification. I stopped paying on the 2nd several months ago until I know if the modification for the 1st is approved. Since I haven't paid in several months, they again took away online access for my 2nd. If the 1st is approved, I will try for a modification on the 2nd.

[lifelesson]

we have chase and did reaffirm the loan. we lost access while in BK but have internet access now that we are discharged.

[tampagirl23]

I had Chase for my 1st, I continued to pay and did NOT reaffirm that loan. My phone and internet access were pulled until the case was discharged. After discharge I have gotten all access back and am able to make payments online.

I also pulled my credit report recently and the mtg for Chase does say Included in BK with no payment or balance information.

[AlreadyFiled]

I jointly own a home through Chase. Tried to re-affirm, they said they didnt receive papers (altho we did send them in timely fashion) but during the BK online access was cut off and we had to make payments through Western Union Quick Pay. Once BK was discharged I receive 'statements for informational purposes only, not as a statment to collect" I wrote to the CEO and asked where my reaffirm papers were and he says , never received. So, I'm just making ontime payments to keep the home.

It shows IIB on credit report.


What is this modification process you are doing? I have co-owner who didnt file for CH7, only I did. we are 50/50 owners. We both would have to modify the loan correct?

[hamburgervol]

I jointly own a home through Chase. Tried to re-affirm, they said they didnt receive papers (altho we did send them in timely fashion) but during the BK online access was cut off and we had to make payments through Western Union Quick Pay. Once BK was discharged I receive 'statements for informational purposes only, not as a statment to collect" I wrote to the CEO and asked where my reaffirm papers were and he says , never received. So, I'm just making ontime payments to keep the home.

It shows IIB on credit report.


What is this modification process you are doing? I have co-owner who didnt file for CH7, only I did. we are 50/50 owners. We both would have to modify the loan correct?

The exact thing happened to me. We sent ours in 45 days discharge. Maybe for the best that they didn't get it. Their loss.

I bet they have a massive room full of "lost" documents.

[leosmom]

WC Nurse: How did it go? Questions..

Thank you so much for your post. It gave me hope. I have filed ch 7 and I am waiting for discharge in the next month or two. I didn't reaffirm on the insistence of my attorney. I want to apply for a mortgage modification but since I am waiting for discharge I thought I should wait. I am current on payments. Chase sent me an address for sending payments during BK and I have been sending them there.
I am still getting "informational statements" and it has not yet appeared on my credit report as a BK7 balance of 0 but I am sure that is coming.
Now my questions:
How did your modifcation work out? At what point in the BK process did you apply, before discharge after filing or after discharge?
Also, did your loan have an alternate investor?
In general I am hopeful that we have a chance at a modification when we don't reaffirm. Yay! I was so stressed out about this! My income went down this year and that gives me hope.

I have since applied for a mortgage modification on the first and have just completed the 3 trial payments as of 12/1/09; still waiting for a decision as to whether or not it will be permanently modified. If it is, I will then apply for the HEL to be modified also. I'm over $100k upside down and technically can walk away from the home since both the mortagage and HEL were discharged in the BK. I'm hoping Chase will see it's to their advantage to help us stay in the house. We'll see what happens....

[msikiu]

Same Situation!

Hello, it is kind of nice to hear from other people going through the same thing. I also have a loan with CHASE which we DID NOT reaffirm, I do not have access to account info either, I make my payments over the phone. I called them today and they told me the account would go back to normal once the court releases the loan, does anyone know what that means? I am current, intent to keep the home. WE also intend to apply for a loan modification but were told to wait until the the loan got out of their BK department, should we wait?

File 9-25-09
Creditors meeting 11-3-09
Chapter 7 discharge 1-20-10

Thanks for any comments in advance!

[WC Nurse]

Thank you so much for your post. It gave me hope. I have filed ch 7 and I am waiting for discharge in the next month or two. I didn't reaffirm on the insistence of my attorney. I want to apply for a mortgage modification but since I am waiting for discharge I thought I should wait. I am current on payments. Chase sent me an address for sending payments during BK and I have been sending them there.
I am still getting "informational statements" and it has not yet appeared on my credit report as a BK7 balance of 0 but I am sure that is coming.
Now my questions:
How did your modifcation work out? At what point in the BK process did you apply, before discharge after filing or after discharge?
Also, did your loan have an alternate investor?
In general I am hopeful that we have a chance at a modification when we don't reaffirm. Yay! I was so stressed out about this! My income went down this year and that gives me hope.

Leosmom:

We waited until after the BK was discharged in July 2009 and then applied for the loan modification with Chase in August 2009. We started trial payments in October 2009 and made 6 trial payments, the last one in March 2010. We just received our permanent modification paperwork on 3/11/10! I was told the investor on the loan is Wells Fargo so Chase had to get approval from them to approve the final mod...thankfully they agreed! We signed the docs and Fedexed them back right away. Chase received them on 3/15/10 and they signed them on 3/17/10. I just received the signed copy back yesterday! I've checked online and everything is updated there. Our interest rate is now 2.5% for the 1st 5 years, then goes to 3.5% for year 6, 4.5% for year 7 and 5.0% for years 8-25. They did not extend the length of the loan and did not add a balloon payment so I'm happy. Now we're trying to negotiate a settlement on our 2nd with Chase. As of yesterday, Chase signed up for 2mp, which is the program to modify or extinguish 2nd mortgages. We'll see what happens with that. I'd prefer to just settle and get this over with!