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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Chase Sued for Shady Loan Modification Practices


A class action lawsuit was just recently filed on behave of all homeowners who had a mortgage with CHASE bank, and who have "attempted to obtain a loan modification from Chase through the Home Affordable Program." The complaints against Chase state that Chase performed unethical practices by making customers believe that they would receive a permanent loan modification if they completed their trail payments.  Chase supposedly told their customer's to stop making their mortgage payments if they wanted to receive a loan modification.  Chase made it very complicated for their customer's to receive a loan modification. Chase constantly misplaced and lost customer's financial information.  The customer's had to continuously fax them the same information which kept delaying the process for a customer to receive a loan modification.