Prior to July 2007 we were building our dream home. My wife of 54 years was seriously ill and was the inspiration for our retirement home. During this period we discovered she was terminal, she passed away on July 26th, 2007
During this period, due to fraud and deception on the part of my construction loan lender, I had trouble making the interest payments on that loan.
In October 2007 the construction loan lender notified me that they were selling my primary residence, which was partial collateral for that loan, at trustees sale. Chase Home Finance LLC holds the mortgage on my primary residence.
At this time I may delayed or missed a payment to Chase ( loan#1931277074) for obvious reasons, I thought my home had been sold at trustees sale.
Next I received a statement from Chase that I was still responsible for the loan on my primary residence as far as they were concerned and I was delinquent and in default.
At this time I requested some kind of adjustment or relief so I could catch up and save my home. I was offered a repayment plan, paying a little more each month, which would catch me up by August 2009. During this plan I had to make the payment the 1st day of each month. I informed them that as a retired Air Force NCO, I got my retirement pension once per month via direct deposit to my Credit Union on the 1st of each month. It would be difficult to comply making a payment on the first. I was told to do the best I could in a subsequent telephone conversation.
During this period, while perusing my Chase statement, trying to determine what was going to happen to my home, I discovered a miscellaneous charge there. I contacted Chase to find out what it was. They said it was for some legal documents they had to prepare to protect their investment. After a lengthy discussion I pointed out that the legal documents were irrelevent and unnecessary since the trustee sale did not occur since I was still in the house and responsible for the loan. Chase suggested I write letter requesting that the charges be dismissed on that basis. I promptly did so.
They never acknowledged receipt of my letter but shortly thereafter I noticed that the misc. charge disappeared . I was relieved until I phoned Chase to verify what had happened. I discovered that, without my knowledge or consent, they applied my next mortgage payment to the misc. charge to erase it. In so doing they caused me to be further in default. It appears to me there is a concerted effort to take the property I have been paying on since 1992, 17 years, without a problem until now.
During this conversation I was informed that I had broken my repayment agreement because they did not receive some of my payments on the !st, I told them previously it would be a problem based an my payday. I asked them to consider my payment history for 17 years, not missing a pament during the repayment period, and I was slightly more than 1 month away from completing the agreement. They insisted that I had broken the agreement and woul have to start over with a new agreement. They offered me a new plan to " save my home " with no assurance that I could " save my home " after 4 months. They also said the 4th payment would be slightly over $1400.00 which I told them I couldn't possibly make. I was told that's the deal, take it or leave it. Naturally I was compelled to accept their forbearance offer while seeking relief, hence this correspondence.
At this point I have to point out I was less than the $1400.00 from completing the original agreement. Also it seems that each time another agreement is offered it is more difficult to comply contrary to what I am hearing and reading that our government wants to help us keep our homes amd protect us from predators.
I can't figure out why;
My payment history of the past 17 years not considered.
Was my mortgage payment applied to the misc. charge putting me further in default.
Couldn't they allow me to continue the original repayment plan since I was only a month away from catching up.
Was it necessary to enter into the forbearance for 4 months, with no guarantee that I would keep my home, and with a $1400. balloon that I cannot pay. It looks like the end of the road for my home after 17 years of payments.
Last but not least when my wife passed away I informed Chase and asked if the would be kind enough to remove her as a co-owner and addressee on Chase correspindence. I was told to send them a death certificate with a formal request and they would comply. It did not happen and in a subsequent phone conversation I was told she would have to remain on all docs until the loan was paid off. At 75 years of age I am trying to move on with my life and that monthly Chase statement with my deceased wife's name on it ia another reminder that she's gone making things more difficult.