Chase said I am approved for a loan modification and will start with Trial payments (which is less than my actual loan amount) for several months.
A week later, Chase sent a package that looked the same as the application forms I used to apply for the loan modification previously. The letter said that I have to complete all the forms with signatures and send them within 15 days.
Then, I called Chase and asked them about the package. The relationship manager who deals with my case told me that I don’t have to fill out anything on the form nor sign on them. She added that sending that package is just a part of the procedure for me to start the Trial.
I’m worried whether I should or should not fill out all the forms within 15 days.
I have gone through some tricky and tough times with Chase such as not telling me that I was approved till the end of August although I was approved since July, not sending me a letter that I was approved for the Trial Loan Modification although I was approved, loosing all my documentations and application forms from their computer (I got rejected because of that earlier).
So, what do you think?
Is it true about what the Chase relationship manager said that I don’t have to fill out or write anything although the package letter was saying that I have to within 15 days? Or is this another trick?
Mortgage Loan Modification Answer:
Always follow the written directions you recieve over verbal directions. Then Chase can not come back later and disaprove your loan modification because you did not comply with written directions.
There is no record of what you were told over the phone, so you should always keep notes of all phone calls. Write down the date, time, phone number, who you spoke to and what was said.
If you have copies of what you sent and they are the same forms (compare them to see if they are the same) send copies but make sure you keep copies as you may have to resend them again.
If you do not have copies of what you sent earlier them re-do the new forms, make copies and send the originals. It is always best to follow the directions you get in writing but always make copies of everything you have to send to Chase as you will probably have to send it more than once. You will usually have to re-send information at least three times.
Do not give Chase any excuse to disapprove a permanent loan modification.
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