by ME
(PA)
I worked for a very good company when I bought my condo. I received great salary, profit sharing, bonuses, and overtime. I had a terrible car accident, then a few years later I was severely attacked by a crazy drunk for 45 minutes. I already had a serious brain disorder before any of this, so this was a very difficult recovery. I of course went back to work and, though suffering from pain and depression, continued to try and excel at my job. I got a huge raise and was making up to $50K. When I finally put the criminal in jail, I decided to buy my condo in 2006, to start my life over. I didn't have much to put down on it, so my interest rate was pretty high and my payments for a 168K condo were $1248 plus condo fees making it $1500 a month, plus all else that goes with it. This was my very first home, I had 4 concussions at the time (which I kept telling my chase broker) so I didn't worry because I was making so much money, and I trusted him. I found out later that I was misdiagnosed with the horrible aftermath of the attack and slowly I became worse, and worse. brain damage (actual lesions on my brain), paralysis in my arm, sponylosis, nerve damage from head to toe (literally!) and of course the severe memory loss and PTSD. I worked until I could no more. Medical bills were compounding, market fell, I was immediately granted SSDI and I receive a disability check from my old job as well. I make now $2063 a month (actual $1968). A blessing and a curse. I asked for a modification from chase and went through everything. It was a very stressing time, having only one arm, not being able to bend over, kneel, sit down for more than 10 min, stand for 5 at the time, dizzy all the time. I was sick all the time from treatments I was receiving from my doctor to treat my diseases, as well as dealing with severe PTSD..but I did it. They told me several times it would be better if I missed payments, because I never missed one, "if I just missed a couple I'd have a Sure chance". My instincts told me not to, I was worried about my credit, and the charges on my credit cards for when I first bought my house furniture, and paying for medical bills etc. If I missed payments I would lose my only way to pay for my medication and co-pays and bills etc.
So i did the modification all the way to the home visit and the auditor kept saying it was looking great, I should be approved. He would always take my calls. Then I get a letter from chase stating I was denied for "no loss of income". I had asked if they pulled the other W-2 forms and the kid said it didn't look like it, they usually never do (even though I signed the 4506t form). So all they had was when I was making 30K on ST disab. Not much of a difference from 21K.....big diff from 49k-50k. They said they made a mistake and would look into it. The auditor wouldn't take my calls of course. I did get another denial letter. This time it said "cannot prove permanent hardship". So they say I am not totally disabled.....although with one arm and so depressed I am ready to throw in the towel... I sent them in every personal medical record, doctors report, even went so far as to send in court records and inquirer clippings of my attack and how the guy ran me off the road and tried to kill me on the way to court...and then he got out early and lived 5 miles away and how trapped I was to stay here for my safety because he's not allowed in my county. How degrading, and how personal.....and they decide my hardship.
So now they want me to do it all over again. I think Chase is manipulating, uncaring and just plain evil. I am not asking for anything free, just a lower payment so I don't lose my house. So I can eat, pay for repairs and not lose it. If it is because of my 401K, let me know because I have a lot of bills to pay. They ruined my credit by leaving on my report that I was in a modification agreement with Franny and Freddie for two yrs, when I wasn't....my rating went from 713 to 604. Of course I can't prove it, but it was fine until that was on there, I never missed a payment with anyone. What would you think if you are a cc co and you see your client is in an agreement to make lower payments for two years and they have been making the min payment in your card when she owes 10K? I'd lower her limit and report her...which is what happened to me. I finally got it taken off, but it makes no difference, because I can only make those min payment because of chase. So now I am ruined. They say if I have any money in my 401K, I can't get any help from them....I am only 42 and will need that money for my funeral.....what does that have to do with anything. It isn't a lot of money. I have been using to pay for my medications. I hit my gap in June 1. Please Help.
Wow there is a lot here. First off I will say do not spend your retirement funds on your mortgage and do not report to Chase how much you have in your 401k. Chase can not legally ask or make you spend that money. If Chase asks write down not applicable in the blank.Do not let Chase start the process over again. In writing ask that the denial be reviewed at the executive level after the information is corrected to match the information submitted. Clearly state what amounts are incorrect and what the correct amounts are.
If you cannot afford the mortgage payment you are going to take a hit on your credit sooner or later. That is the least of your worries and a wrong priority.You will take about 100 pts hit during the trial period and most of this will recover shortly after the permanent loan modification is in place if you make payments on time. Chase can remove the ding after the modification is in place if you ask for it as part of the negotiation. Just use some basic credit repair actions to bring your score back up.
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