Chase claims loans must be under 30 days deliquent to be eligible for 2MP
Chase claims loans must be under 30 days delinquent to be eligible for 2MP!
Is that true? I thought that any arrears could be capitalized but when I called CHASE they were, as always, aggressive and rude and insisted that I bring the loan up to date before they would consider the 2MP and they state they will fully examine all the documents before they grant the mod even though the Treasury guidelines state that the second servicer does not need to re-verify the data?Mortgage Loan Modification Answer:
Chase reps are notoroiously aggressive and rude as you've already come to find out. They are also often misinformed. You will have to point out the guidelines to them verbatim so that they know you know your rights.
As for the delinquency, I believe that you can apply for 2MP while delinquent on your second mortgage. I know of one person who has applied while behind and the bank started to process the application. Chase could be doing another loose interpretation of the guidelines. Call them back and see if you can speak to a different and more knowledgeable rep.
All the best to you.