Losing house to Chase Bank after trying to do the ‘loan modification’ dance and an unbelievable escrow glitch?

We’ve gone through the whole ‘loan modification’ song and dance with these turkeys a few times now and all we get is more grief and pain. We fax in all our personal information (minus our bank account statements) to them and they lost it, or so-and-so is on vacation, or the voicemail is full or they NEVER call back, or after 3 months of playing the game, it has to be re-submitted because it’s expired…etc. In other words it never really goes to anyone that does anything with it. On one occasion we had faxed it in three times in a row and still no one knew where it was. I have renters living in the house that we are about to lose and they are ok with having to move in about 8 months, but we don’t really want to give it up or wreck our credit…again. My husband has had to take a 5% pay cut at work at the same time Chase informed us that they didn’t take enough out for the escrow account and that they need another 84$ per month to make up the difference. HUH? The weird thing there is that the property taxes went down, and the letter they sent says in effect, ‘usually the reason your escrow account amount is behind is that your property taxes have gone up. Please contact your local tax assessor with any questions.’ The zinger is that their glitch put us over the edge financially, our heating ($ 400!!!) and electric bill just drained us all winter along with other unexpected outflow of monies. Our renters are at their max that they can afford and frankly we are lucky to have them in there so getting higher paying renters (plus they took the option to buy and want to in 2 years) is not an option. We owe $ 112,000, the monthly payments have edged their way up to $ 1550, and it’s not worth $ 80,000 in it’s current neighborhood (3 foreclosures in spitting distance in the past year and one currently taking place have brought values to the ground). Any advice, ideas, resources? I know this is a prevalent issue, but I’m sure there is some sort of fraud being engineered and perpetrated on the people with mortgages at Chase Bank and its affiliates, I’ve seen a lot of the complaint websites, even the “F” rating they get at the BBB, but yet I’ve seen no recourse.
We are current on payments, but we won’t be much longer, up in the air as to saving it…is that kind of negative escrow worth it??? We don’t make a dime on renting it out, we actually lose. Since it’s not owner occupied it’s a little tougher to get help on it…but my renters really want to buy it, and since they can’t for two years with their own credit issues, it’s a big ole’ mess.
Oh and it was originally written by Netbank Mortgage and then sold to Chase about 3 months after the purchase went through. We have requested the original loan paperwork but have yet to receive anything.

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