To clarify, if your home was foreclosed, in NJ there is a 10 day redemption period to buy it back. I have bought homes from sellers during that period which is how I know. In your case though, it seems that just the investor on your note has changed. In other words, your loan payments now are basically being made to fanniemae, not Chase. That is actually a good thing. While it may mean that Chase can no longer do a modification on that home. You may find whoever is the new servicer accommodating as Fanniemae is making an effort to keep loans current and out of default. You may want to also consider some other option as I have not seen many successful results with loan modifications and they require a lot of expertise, time, and as you are discovering the bank often disrupts the process. If you want, email me, and I'll send you a great list of resources for all your potential options. It is something I put together so that homeowners can have everything they need in one place. http://www.fanniemae.com
may also provide you with some great information and guidance. Hope that helps.