WAMU/CHASE homeowner mortgage assistance?

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Is there anyone out there currently working with Chase to assist homeowners with mortgage payments.. I have looked at the on-line form on the WaMU site, to give info to Chase to see if I qualify. I have 2 immediate questions. These options are offered to borrowers who live in the property . I leased my house 2 months ago and moved I to a less expensive property , I continued to fall behind on payments and this seemed to be my only option, not wanting to lose my home. I have about $ 85,000 equity currently. I don’t make a profit, I collect rent for the same amount as my loan. I still need help, instead of walking away from my loan I thought leasing was the responsible thing to do. My tenants signed a 1 yr. lease and I can’t and won’t ask them to vacate so that I can qualify for loan modification..Is Chase making exceptions or being flexible on the rules Why is it important to them that you reside there. …….

1 Comment
  1. Reply
    February 8, 2011 at 12:57 pm

    the modification program was created to help people who own a primary residence and thats it. not for people who use the subject property as an investment property. your only option is to either move back in there or put the house up for sale since you have enough equity in it to make a profit.

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