Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

2nd mortgage charge off

Posted on: 06th May, 2009 10:44 am
first off, due to financial situations caused by the economy in late 2007/early 2008 causing my husband's former place of employment to go bankrupt, we got behind on payments, and eventually had to hire an atty, to file for bankruptcy, which was paid off in december (this is important to the story).....my husband finally obtained employment and we worked with citimortgage (1st mortgage) and got everything caught up and chase (2nd mortgage) was given a big chunk of money ($5000.00) and a payment arrangement set up with loss mitigation for 6 months to catch up the rest making almost double mortgage payments (payments were 1345.00 month). they were given the $5000.00 in august of 08 and the payment arrangement started in sept 08 for 6 months ending feb 09. in the middle of the arrangement with loss mitigation, we finally paid our lawyer off and he filed our bankruptcy petition with the court in december 08. we continued making our payments, on time, never late....and in feb 09 after our last double payment per our agreement (a contract we had to sign with chase on our repayment plan), i called to check with chase that everything was in order, that time i started on my road trip to hell.....basically in a nut shell, they stated that because we filed for bankruptcy, our agreement was null and void and they didn't have to abide by it, our money was not applied to the past due payments and current payments (when we gave them the $5000.00 it was mostly used for foreclosure fee, atty fees, etc and them some of it for past due payments). i have no idea what they did with the $8100.00 that was sent to them from sept to feb or the payment they got in march. i get the run around everytime i call, regardless of what they are doing to us, i made my payment in mar 09 (on time) for the normal amount 730.10 and it was accepted, when i went to make my payment in apr 09, which my bankruptcy had be discharged by then, they refused to take my payment and said my account has been closed. the customer service rep' at the bank tried to help me and she finally reached someone who told her that my mortgage account was charged off....no one will tell me anything and i have not received anything from chase.....before we started our payment arrangement with chase, we were 8700.00 behind (total, that included late charges, atty fees, foreclosure fee, and past due amounts), so if you deduct the $5000.00 from the amount we were behind and the 3700.00 we paid along with our current payment, we were caught up and on schedule, not according to chase, they still showed us 3700.00 behind.....even though we kept up with our payment arrangement, and when asked where our money went, no one can tell us anything.....i have all my receipts where payment were made....do i have any recourse? what can i do to get this straightened out.....chase wont help me and i am down to my last strand of hair.......
Hi dblmll,

I can understand that you are facing a tough time. As you filed bankruptcy, the court had ordered an automatic stay on your creditors due to which they won't be able to collect the dues or sue you for the payments. Your bankruptcy attorney should have informed you about it and you should have stopped making the payments.

I would suggest you to contact an attorney and discuss your options with him. He will let you know what steps you need to take in this regard.
Posted on: 06th May, 2009 11:31 pm
I understand that, and during my active bankruptcy, they didnt hound me for payments, buy I still upheld my contract we made with loss mitigation. Its when my lawyer filed our bankruptcy, is when chase went crazy on us. They still wont tell me where my payments went and when my bankruptcy discharged is when they "charged off" my account. Chase is saying that I am still 3700.00 behind in payments when I am not, I am current. I have the payments to show it. So why would they charge off my account? I don't understand, and when you try to deal with them, they ship you to so many different departments and people and give you the run around. You get no straight answers when you call them, therefore wasting hours and hours of your time. While I am on the subject, if they "charge off" your loan and deduct it as a loss on their taxes, how can they legally come after you for the money?
Posted on: 07th May, 2009 04:19 am
Hi dblmll

If they have charged off your account, then Chase will not be able to sue you for that amount. It is the collection agency that could ask you for your payments. Moreover, if the bankruptcy had discharged that account, then you won't be liable for the payments.

Thanks.
Posted on: 09th May, 2009 02:36 am
Page loaded in 0.093 seconds.