Chase Mortgage Modifications Exceed 900,000

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Chase says they have offered more than 900,000 I think these numbers are the same numbers Obama try’s to use about our economy wrong. Mortgage modifications to struggling homeowners They have met face to face with 140,000 struggling homeowners at special centers, reach-out events has donated, sold at discount 900 homes to community groups.

NEW YORK, Aug. 25, 2010 — Chase announced today that it has offered more than 900,000 mortgage modifications to struggling homeowners since the beginning of 2009 through a wide range of government and Chase initiatives to address the housing crisis.
“We have worked directly with homeowners as the economy has hit them far deeper and for far longer than they expected,” said Charlie Scharf, head of Retail Financial Services at Chase. “We continue to look for creative and effective ways to help them stay in their homes, whenever possible.”

When I went into the modification process with Chase Home Finance they asked if I wanted a Chase Modification or a Making Homes Affordable Modification. I said to the agent at Chase, “A Making Homes Affordable Modification because I don’t trust Chase to do what is right.” After 12-months of hassle in the 3-month Making Homes Affordable Plan.

Chase sent me an approval for a Chase Modification, (that I didn’t ask for), where Chase would freeze my horrible interest rate and increase my monthly payment by $97.46. THANK YOU SO MUCH CHASE HOME FINANCING FOR THE MODIFICATION. Chase tried to pass their Chase Modification off as a Making Homes Affordable plan, then a week later sent me a letter that I wasn’t approved for the MHA modification.

Chase Home Finance’s idea of a modification for my family was to freeze a bad interest rate and increase my payment by $97.46 a month. So this so called “MODIFICATION” is one of the 900,000 modification that was offered by Chase Home Finance. And I would say this is one of the more common offers of modification by Chase that actually increases monthly payments. So what number of these modifications actually help families?

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