Complaint / review text:
I applied at Chase for a loan modification because I fell behind on my payments due to a federal tax issue and my checks were garnished. I applied for a modification and got the biggest run around from Chase.
I had to send my paperwork for about four times. I never was able to talk to the same individual. I requested that my mortgage and home equity loan be rolled in together. After about two years of back and forth, I was congratulated on my loan modification, which raised my original loan by $600 a month and extended the loan by starting it over from the beginning with a new 360 months to pay. The home equity loan was not addressed because during the two years that this process took, that loan went into default.
I have no idea how they claim that these loan modifications are designed to help the homeowner. They are actually designed to drown you in debt from which there is no recovery.