One way Chase is rejecting loan modifications
Here is one example of how Chase is rejecting people who should be qualifying for a loan modification:
When he tried to change the terms of his home loan, Michael Guzman was rejected because the bank didn’t consider his joblessness a long-term hardship.
Perhaps Chase didn’t read the HAMP rules, because …
Guzman, of Lake Stevens, has been unemployed for more than two years and was told — incorrectly — by Chase last year that his joblessness did not count as a permanent hardship.
Chase’s answer when the fact that loss of a job should be considered a permanent hardship?
“Servicers continue to evolve their implementation of HAMP,” Chase said in a statement.
Moreover, Chase said, it asked Guzman to reapply for loan assistance, but he has refused.
Guzman said he’s already submitted paperwork three times.
Bad bad Chase, Loan modification | admin September 9, 2010
