Dozens Ask For Foreclosure Help At Brooklyn Bank

NEW YORK (WCBS 880) – A few dozen protesters gathered outside the Chase Bank in Crown Heights, Brooklyn, to tell people that the bank has not done enough to prevent foreclosures.

LISTEN: WCBS 880’s Sophia Hall reports

Amelia Adams closed her account there because she is upset that so many of her friends are not getting home loan modifications and they may loose their homes to foreclosure.

“Only 6 percent of the people who went for help got help from the bank,” Adams said.

That’s not enough, she said.

A protestor, Russell McAllum said his dad has been trying to modify the loan on his Brooklyn home for two and a half years.

“My father worked all his life to acquire a home and raise his family and now his mortgage is triple what it was,” McAllum said.

The Chase spokesperson said the bank has a very high success rate of loan modifications. Two weeks ago, the bank met with over 2,000 people in Brooklyn to try and help them keep their homes.

More from Sophia Hall
Comments

One Comment

  1. PIKE BISHOP JR. says:

    you stupid fools..i would have burnt the god dammed chase bankster building down..and most of you with 7th grade reading levels got suckered..tuff bunnies..didnt read the fine print..did ya?

  2. Jack says:

    Tax’s payers bail out chase, Our leadership is poor. All chase has to do is adjust the mortgage.

    Their millions of people that need affordable housing, There are millions of vacant homes .The Gov. needs to educate people about home sharing.

    For a free report on home sharing visit http://www.mysharedplace.com

  3. Trishe says:

    Sounds like Chase wants to bail itself out. If the bank acquired EMC and now its taking its time to process loan modifications of mortgages originated by EMC…..fishy

  4. Ms. Chocolate says:

    This is a sad situation that is going on all over America. What has our country become?

  5. JO says:

    I TO HAVE FOUGHT CHASE VIA EMC. I HAVE BEEN TOLD NOT TO SPEAK TO LAWYER NOT TO GET CPA HELP ON PROFIT AND LOSS STATEMENTS ACTUALLY REQUESTED I LIE ON MY PROFIT AND LOSS. REFUSED TO SPEAK TO ME IF I RECORDED THEM BUT THEY WANT TO RECORD ME. I RECORDED ALL PHONE CALLS.MADE ALL LOWER PAYMENTS ON TIME. IN NOV 2010 CHASE/EMC REFUSED TO ACCEPT A PAYMENT FROM ME. THIS IS CALLED FEDERAL FELONY MORTGAGE FRAUD.

    1. lawyer for a day says:

      huh? First turn off caps lock. Second learn how to write in concise intelligibe sentences.

  6. THE TRUTH says:

    well people if you make money, you can save your house, i just got my mortg. modified permanently with chase . but it was hard …

  7. Stan says:

    The rule of thumb is you put 20% down as a down payment. Then you calculate your monthly gross income by .29% this will give you the amount that you can safely afford to pay the bank back without putting yourself in the poor house. If you can match these numbers, YOU DON”T HAVE THE MONEY TO BUY A HOUSE, END OF STORY!!!! Here is an example: you want to buy a $500,000 house, you need to put $100.000 down (20%) now you owe the bank $400,000 at a rate of 5.25% for 30 years. The monthly principal and interest payment will be $2,208.81, that’s every month for the next 30 years. For you to afford this house you will need at least $7,620 of gross income every month. If you don’t have a gross income that is lower than $7,620… Go find yourself a cheaper house. Remember if you put a down payment less that 20% you now owe the bank that much more thus increasing your monthly payment. Put $50,000 down on the same house as above and you will now need $8,600 to safely pay for this mortgage. That’s $1,000 more in gross income….

  8. Not Sorry says:

    How about you don’t buy something you can not afford, do not take out a suckers loan aimed at those who can not understand the terms and buy when you can afford to put 20% or more down. If you can not do this, pay your monthly payments, cover your taxes and still put money in the bank, you can not afford to own. Unfortunately, they old “I worked hard” line does not mean you have earned the right to home ownership, sad but true. The illusion of home ownership being a right and not a luxury for those who can actually afford it has caused this situation, nothing else, we have become greedy, set expectations higher than what we can attain and expect others to feel sorrow.

    Nope, not me sorry. I rent, and when I can afford to buy and do it properly I will, I will not ask for a government assisted loan and I will not ask for someone to amend my home loan because it no longer suits my needs. You sign into a 15, 20 or 30 year commitment, plan ahead and make sure you can hold up your end of the deal.

    End of story.

    1. Taking Back the Land says:

      Hey Not Sorry,

      You insensitive a&&hole, how about banks like Chase not targeting those that do not understand the terms of a suckers loan? How about banks like Chase not accepting our tax money as a bailout? How about our government having the the guts to prosecute large banks like Chase who take advantage of their clients?

      That all makes no sense to a corporate brown-noser like you!!

    2. JO says:

      THIS IDIOT DOESNT UNDERSTAND THAT WE HAD MORTGAGES WITH EMC/CHASE WHEN THE LOAN MOD WAS OFFERED TO US., THEY INTENTIONAL WEEDED OUT EMC CLIENTS THE COMPANY THAT CHASE BOUGHT, SO DUDE U DONT KNOW WHAT THE HELL UR TALIKING ABOUT, I HOPE U LOSE UR HOUSE BECAUSE NONE OF US WILL LISTEN TO UR WHINING

  9. ham07 says:

    so I guess I need to bail all these people out with my taxes so they can get a home for nothing. They helped drive up real estate prices to insanity now they need my bail out.

    No way. Go back and rent.

    I still rent….

  10. Viola says:

    This is Viola again. I would love to speak to Reporter Sophia Hall about this CHASE matter. I live on Long Island, and I have been trying to get a loan modification for over 3 years now, so this is happening all over New York, not just in the city, but in the suburbs as well, and we all need help. CHASE needs to help ALL OF US, NOW!

  11. Viola says:

    It is true, CHASE is NOT helping its customers. I have neen trying to modify my loan for over THREE (3) years now. Each time, CHASE finds another reason to DENY me. It is ridiculous. Even after our tax dollars SAVED the banks, including CHASE, and President Obama started his foreclosure prevention program, Chase still has NOT helped me at all. This is unbelievable! When is someone going to start helping us Americans SAVE our homes? Does anyone out there care? How can America be the leader of the FREE WORLD, when nearly 50% of its citizens are in danger of becioming homeless? CHASE should help its customers, ahd so should all other banks. AND THE GOVERNMENT NEEDS TO MAKE SURE THAT WE CAN SAVE OUR HOMES! It’s not our fault that the economy is in such bad help, so HELP US, CHASE!!

  12. Stan says:

    What did you expect when you take one of those no money down mortgages. It too good to be true, in the begining…. But after 2 years the rates take off and your stuck holding the bag ……

  13. Beverly says:

    I applied in January of 2010, didnt get a reply until october of 2010 saying I am not making enough. I changed my situation and reapplied in November of 2010 and still waiting. Why do they have to take so long and why are they not helping us who really want to pay the mortgage?. I think they can do better and go faster with the process than they are doing. They are not doing enough and too slow. I fret every night that I am going to loose my house.

  14. kendra says:

    oh..oh..there it goes again that,s illumati talking again so so scary..

  15. Sunnil says:

    I apply since Jan,2009,cannot get my loan modification done up to now with chase.

  16. Concern says:

    Charity Search Engines: goodsearch.com & isearchigive.com

Comments are closed.

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