I have been off the air for a long time as maintaining the blog whilst holding down three jobs and negotiating with Chase for a loan modification became and remains all-consuming.
But I would feel remiss if I did not post the modification offer Chase has “approved”. At first blush it seems almost too good to be true – an affordable payment coupled with the prospect of an unanticipated reduction in principal.
Upon closer inspection, the actual terms of the modification are missing – it’s a carrot dangled before a starved and desperate individual in the hopes they will bite.
I am not biting for anything that is not put in writing. I would urge anyone who may have received a similar offer to tread carefully. The offer and my response is posted below; I belive it speaks for itself.
Filed under: Chase, Home Loan Modification, JP Morgan Chase | Tagged: bait & switch, Chase Home Lending, Chase Home Lending Executive Office, Chase loan modification, loan workout, pay to play modification | 5 Comments »