What is the name of your state (only U.S. law)? MA
To make a long story short, I got behind in my mortgage due to my workplace closing. I have filed several loan modifications with Chase Manhattan; but as has been documented extensively by other Chase mortgage customers, they play games, repeatedly saying they haven't received everything, despite it all been having sent over & over, then decline it because of missing paperwork. This has been going on for nearly 3.5 years. There is no foreclosure date set. They recently started sending me bills again, out of the blue; but I have not been paying them, since we have no agreement in place. The house balance was discharged in a completed bankruptcy already, so I don't owe them. They've just been piling on the penalties, and they want more than the house is worth. During the winter, my roof over the bedroom caved in from the snow. The bank placed structure only insurance on the house in my name. My question is, when the settlement comes in, am I obligated to use it to fix the house, or could I use it to find another place to live?
To make a long story short, I got behind in my mortgage due to my workplace closing. I have filed several loan modifications with Chase Manhattan; but as has been documented extensively by other Chase mortgage customers, they play games, repeatedly saying they haven't received everything, despite it all been having sent over & over, then decline it because of missing paperwork. This has been going on for nearly 3.5 years. There is no foreclosure date set. They recently started sending me bills again, out of the blue; but I have not been paying them, since we have no agreement in place. The house balance was discharged in a completed bankruptcy already, so I don't owe them. They've just been piling on the penalties, and they want more than the house is worth. During the winter, my roof over the bedroom caved in from the snow. The bank placed structure only insurance on the house in my name. My question is, when the settlement comes in, am I obligated to use it to fix the house, or could I use it to find another place to live?