I already have my first mortgage modified with Chase completed 7/11. CitiMortgage has denied and stalled my 2MP that I filed with them since 9/1/11. I have submitted signed documentation proving that I qualify and that I am current. Chase has verified that information yet due to having multiple matches because Chase reported it incorrectly the first time, I have been waiting and waiting while my payments continue to be a struggle. My house is not worth what I owe and now when I actually do qualify for assistance, I am getting the runaround. I can't hold on forever and I am tired of being patient. I already reported an escalated case to MHAP and they have not been able to resolve my issue. Help!
Consumer Complaints & Reviews
We have been trying to get a home modification from Indymac Bank. They have taken months, and are constantly requesting more information. We have submitted taxes, pay stubs, etc. It is impossible to get anything from this company. This is our 4th time applying for this loan. We have been rejected 3 times for missing information.
We are participating in the Making Homes Affordable Mortgage Modification Program that has been funded by the government and is being facilitated by Bank of America.
The program requires a 3 month trial period of a "modified" payment. It was not stated anywhere in the contract that this payment (made per that contract) would be considered late or delinquent. The Home Affordable Modification Program Guidelines March 4, 2009 state under Consumer Protection Disclosure, that "Servicers must also provide clear and understandable written information about the material terms, costs and risks of modified mortgage loan in a timely manner to enable borrowers to make informed decisions." Our payments were always on time and the payments under the trial period have always been on time.
Our multiple phone calls to Bank of America have yielded varied and misleading advice. One consultant gave us the advice to pay our payment in "full" and that we would not be eliminated from the program. It is stated in the documents contrary to this advice. Another consultant said, that he saw the problem and we shouldn't have been reported on our credit and he would send it out for review. Another consultant had such an accent that I could not understand what she was saying.
As a consequence, our credit has been reported as seriously delinquent without any knowledge or cause. We have been contacted by other creditors who have seen this as cause to modify our terms with them. If we had been made aware, our choices may have been different leading up to this in the last 6 months. We have chosen to stay current with our mortgage payments and suffered greatly in doing so, thinking that it would preserve our credit in the future. Our credit has been damaged and we were not informed of this consequence.
