Sierra Vista Herald-
As millions of Americans struggle in foreclosure with little hope of relief, big banks are going to borrowers who are not even in default and cutting their debt or easing the mortgage terms, sometimes with no questions asked.
Two of the nation’s biggest lenders, JPMorgan Chase and Bank of America, are quietly modifying loans for tens of thousands of borrowers who have not asked for help but whom the banks deem to be at special risk.
Rula Giosmas is one of the beneficiaries. Last year she received a letter from Chase saying it was cutting in half the amount she owed on her condominium.
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© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
My comment is exactly about the way how Chase is doing principal reductions:last year I got a loan modification with Chase trough MHA my house was under water at that timeat least 40% and before I signed the final papers I asked Chase if it will consider a principal reduction at the time .They said no at the time but probably in the future when other banks will join PRA so a month later they sold my loan to Merryl Lynch and they sold it to Fannie Mae.Now I find out Chase did the principal reduction and the loan modification for people did not asked for that or needed.Like the lady who got that for them I had a 5 years fixed interest only not cause I wanted but the bank put me in this position when I bought the house.After fixing the house, cause it was a fixer upper ,after the money we spend the lot of work we put on it and the bathroom and the covered patio what we did it from scrace they did not considered me for a principal reductio but they give it to “tens of thousands” not in perrill?THAT CALLS FOR A LAWSUIT WITH I TOTALLY INTEND TO DO .I REALLY SERIOUSLY I AM LOOKING TO DO SO .I AM POSITIVE OUT THERE THEY ARE TENS OF THOUSANDS LIKE ME .LET’S GET ALL TOGHETER FOR A BIG LAWSIUT AGAINST THEM .CONTACT ME AT delia_trip@yahoo.com.I wish all the best