Customer qualifies for MHA but Chase doesn’t care
This customer applied for a loan modification and was eventually denied. Chase told them they didn’t qualify under the Federal Governments Making Home Affordable program so they processed them through Chase’s program instead, but they didn’t qualify. The customer subsequently discovered they did infact qualify MHA. Why did Chase not qualify them for this program?
Bad bad Chase, Loan modification | admin April 17, 2010
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By Johnny The Great, April 22, 2011 @ 8:52 am
I am a Mortgage Service Specialist I do not work for Chase. I read your comment and question. You have to realize that sometimes banks do not own every loan. In this case my theory is that the investor (owner of the loan) does not participate in MHA. Everything depends on delinquency, property values, debt to income. Everything is always up to the investor.