I've been in this modification nightmare for going on 2 years now. Lie after lie from EMC. I was required by them to put $2,000 down to even enter the program in early 2009. (Depending on whom I spoke with there, the amt varied greatly, from as much as $6,500 down. Even a govt advocate program I enlisted couldn't get them below $2,500, so I finally took back over & got 'em down to that $2,000. The advocate programs, from my experience, were not much help, either, many putting me into a vicious circle).

I was working & told by EMC I should qualify "no problem", as long as I complied during my "90 day trial period". I'd even offered to make my pymt higher, if necessary! I wired off my pymts early each month, but was always told by EMC they were "running behind" & to "keep sending my money in & I should have an answer by the end of 2009" (I believe I started the program that previous March). I continued wiring my money--the amt. they had stipulated as a modified pymt--thinking all would work out.

Wrong! Supposedly in Jan 2010, they sent me a form letter stating I was denied (I never received it, nor did others I've spoken with receive their's). Since I never received the notification, I continued making pymts for another SIX MONTHS, with EMC happily taking my money.

I then received letters in my PO telling me I was back in foreclosure, & a sale date had been set on my home. WHAT?! This was the first I knew I'd been denied. When I called EMC, they at first told me the sale date was "18 mths away", so we had "plenty of time to work out another arrangement". Hogwash! I checked with my county clerks ofc, & found out my sale date was 3 mths away! It was more lies from them. They said they would deny my last pymt (wired the previous night), & it seems they did, but it took me 2 mths(?) to get it back through Western Union, as EMC twice told W.U. it "wasn't their dept" & frustrated them to the point they threw it back in my hands, telling me they had proof EMC received the money, & provided me with that before washing their hands of it.

Yes, I've also been hung up on & yelled at & chastised by EMC, like others. I haven't seen a statement from them in literally years, & their attys ignored my requests for one.

I received a denial letter from them this week, stating that with the amt I'm now in arrears, I don't qualify, as their investors wouldn't make back their money. Fact is, about two-thirds of what I'm in arrears is their atty fees, filing fees, late fees, & any other fees they can tack on. And then, THEY'RE the ones who began refusing my money (after 16 mths), & threw me back into foreclosure, generating even more fees! By that time, they'd gotten another $10,000 out of me.

I wonder if anyone's doing a study of just how many folks suffered heart attacks or strokes, while attempting to get a modification? It's aged me a decade, for sure, & I've noticed friends going through the same process turning grey. I am now thoroughly convinced that you cannot get a modification on your own, & must hire representation in some form. Our govt is clueless--despite the new investigations, of how the program is NOT working, & WHY (it's the lenders!), & how the banks have completely failed to live up to their part of the bail-out agreement. Now that our govt is taking a look at it, it may be too late for some. Many more of us have since lost our jobs, & after making modified pymts for over a year, are now even more in debt to our lenders, thus giving them even more reason to deny us a modification. Another vicious circle?

I should also mention that I still have considerable equity in my home of many years, so they'd be more than happy to take it! (I was forced to refi 5 years ago when my business went under after cheap knock-offs from China took over my market, & I {now sadly} went with EMC).

I finally hired an auditing firm from Cheyenne, WY to handle this for me, back in June. They are still currently working on it, trying to get me a modification that I should have qualified for when I was working & first applied to the program. Now they're trying to get me qualified while I'm on unemployment, having lost my job last year (yet I still kept up my modified pymts).

EMC/Chase is a totally predatory lender. I only wish it were as obvious & apparent to our own govt as it is to those of us having to deal with them. Some friends are having the exact experiences dealing with Chase Bank (now affiliated with EMC), & they've hired an atty. (We're awaiting who comes out better off).

For the record, I did a LOT of research before hiring this truth in lending auditors firm. So far they have done all they've said they would, & definitely HAVE been in contact with EMC, as I've verified with EMC. I received my audit, as promised, & they are now the ones having to deal directly with EMC on my behalf. That has helped my stress level considerably, but I remain nervous as mine is a much tougher case since I'm now unemployed. I had to put my faith in someone, & so far no regrets in hiring them.

Oh, yes. My FedEx guy who delivered my new "work-out" packet (overnite), told me that at ONE LOCATION ALONE they're picking up 10,000 of those packets A DAY to deliver! (Yet how many are losing their homes?) EMC has now opened an office in my own state, as well. Business must be good for them. Grrrrrrrrrr!

My best advice is to ignore any advice from your lender, & seek an advocate of some sort, or these predators will eat you alive!