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  1. #1
    Join Date
    Jan 2013
    Posts
    14

    Default Bank is Foreclosing Despite Agreement for Repayment of Overdue Payments

    My question involves a mortgage in the state of: Oklahoma.

    My mortgage is with JP Morgan and Chase.

    In September of last year for some unknown reason my Auto Debt stopped. I did not catch it until December due to being away with work. When I caught it I called the bank and told them that it had stopped and I did not understand why, but they could go ahead and pull the payment. i was told at that time they could not accept payment from me. After dealing with them for almost all of December, they finally agreed upon a repayment plan. i said fine and agreed to it.
    I was told that they would send me papers and that I had till the 25th of January 2014 to get the total of 5 payments to them. No big deal as the money is still sitting in the bank account. I was also told that by entering the repayment plan that that stopped all legal actions.

    To day I found out that they have went ahead with legal actions and are going to go ahead with the foreclosure.

    I have yet to receive the paper work to sign for the repayment plane and I am scared that if I send the payment in that they will just use it for what ever and still do the foreclosure, anyone have any advice?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Bank is Foreclosing Despite Agreement for Repayment of Overdue Payments

    Quote Quoting scribdawg
    View Post
    I was told that they would send me papers and that I had till the 25th of January 2014 to get the total of 5 payments to them. No big deal as the money is still sitting in the bank account.
    Even if you thought you had until Jan. 25, why didn't you act promptly and diligently to get them the money that was, as you say, just sitting in your bank account?

    Should we infer that you did not receive the paperwork? When you followed up with the person who told you that they would be sending paperwork, and who told you that it would be coming... by mail?... what did you learn?
    Quote Quoting scribdawg
    I was also told that by entering the repayment plan that that stopped all legal actions.
    Here's the thing: If you did not sign and return a contract committing yourself to the repayment plan, you didn't enter the repayment plan. You really do need to follow up with the person who was supposed to send you the paperwork.

    It's also possible that the account had already been sent to the legal department for the initiation of foreclosure proceedings, and that the legal department is completely unaware of the discussions you had with some other department of the bank. Big banks are huge, bureaucratic institutions, and miscommunication happens.

    - - - Updated - - -

    Going back to your other thread, you've changed your story.
    Quote Quoting scribdawg
    View Post
    I contacted the attorney and they said they would send over the amount I needed to bring the account current and get it out of their office.
    I received the paper work (via fax) one day after the payment amount was due, and since I did not make the payment before the due date, they doubled my payment.
    Chase said they would set me up a repayment plan, yet I have not received any paper work from them. I was told I had to wait for the paper work to sign it before I could send in my payment. The payment is due before the 10th of January 2014.
    Now:
    Quote Quoting scribdawg
    View Post
    I was told that they would send me papers and that I had till the 25th of January 2014 to get the total of 5 payments to them. No big deal as the money is still sitting in the bank account. I was also told that by entering the repayment plan that that stopped all legal actions....

    I have yet to receive the paper work to sign for the repayment plan....
    Also, as you were told then,
    Quote Quoting Mr. Knowitall
    View Post
    If you are trying to tell us that the foreclosure attorney didn't send you the fax on time, get on the phone and talk to them about possible remedies. If not, I suggest that you get on the phone and insist that they provide you with documentation for the payment plan to catch up on your arrears - or that you get the money together by the 10th and pay off the arrears such that it's no longer an issue.
    That was Jan. 6. You posted this thread on Jan. 13. It thus appears that you ignored the suggestion to contact the bank and get the paperwork, and also missed the Jan. 10 deadline for catching up. You will have to explain how Jan. 10 in your original thread became Jan. 25 in this thread.

  3. #3
    Join Date
    Jan 2014
    Posts
    5

    Default Re: Bank is Foreclosing Despite Agreement for Repayment of Overdue Payments

    If the money is still there, call them and get the amount over phone, then pay amount (total) over phone. Request a supervisor and forget the papers that were never mailed. When they have a bird in hand, they will take your money. Get documentation of the transaction, a confirmation number. (You can also overnight a check, but need total balance due). Legally they can't foreclose if you are current. If you are undergoing hardship, now would be the time to request modification papers. In some cases, modification requests delay foreclosure with current rules. Also, appears you are being hard-pressed by Collections Department and dual tracking threat if they keep extending timeline another week "or else" and never send "paperwork."

    Remember, foreclosures can be fought and they take forever.

    Then file a complaint (online) on the mortgage company with the UCC and CFPB (Consumer Financial Protection Bureau) concerning the cancelled autopay system that sent you into default.

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