There has been a lot of talk about holding the big banks accountable for the progress of loan modifications and short sales. Much of that attention lately has focused on Bank of America, which is facing a class action lawsuit, but my own experience as a real estate agent has shown me that problems with delays and dropped communications are also cropping up with other big banks, such as JP Morgan Chase.
Here in Arizona, my clients and I have run into problems with Chase in regards to processing short sales and loan modifications. Reaching someone in the bank can be a logistical nightmare. Phone numbers seem to be constantly changing and paperwork is lost. An often-changing third-party authorization process has made it difficult for me as an agent, at times, to speak to the bank on behalf my clients.
To be sure, big banks have some big challenges of their own. Rick Sharga of the foreclosure tracking firm RealtyTrac recently told ABC News that banks have been “unable to efficiently handle the volume of distressed assets that are coming through.”
But for those of us in the trenches, these explanations aren’t much help. In one of my cases, a client had Chase as his second lienholder and Bank of America as his first lienholder (nightmare from both ends). Anyway, the client was in disbelief when I kept explaining to him the problems I was having in contacting someone at Chase who could discuss his account. Finally, I was able to find the department who knew his account and had his paperwork. After a lengthy discussion with the proper department regarding the progress (none), I was told to call back in a few weeks for an update. Upon calling back a few weeks later with my client on speakerphone, I was directed to five (count 5) different representatives in five different states and was told that the number I had previously used that worked was not a valid number. It took weeks before I was again given the correct number to call regarding this client’s account.
I’m not the only one noticing this. In one case, two real estate agents with an online video show called Short Sale Power Hour discussed issues they were apparently having with Chase short sales. Chase’s attorneys reportedly put heavy pressure on the agents’ broker to pull the videos, or severe measures would be taken. In the end, the videos were removed. With the borrower backlash against Bank of America resulting in legal repercussions, could Chase Bank be next to face a class action lawsuit?
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Has anyone else had similar experiences?
I have had numerous problems with Chase Bank to the point that one agent will tell you one thing and if you call back 5 minutes later, you get an entirely different response. Representatives will not return phone calls, they constantly lose paperwork, and sometimes are down right rude. INCOMPETENT OR UNCARING, either way it amount to intentional emotional distress.
I have been trying to get a loan modification since February. I submitted my paperwork and was told to call weekly. Each week a piece of my application had to be resubmitted. After 60 days I had to resubmit my entire package. It is now September and even though I was told that the resubmission of the 2nd application would only take 4-6 weeks I still have not received a written response from them.
I AM IN – we have been in a Chase Modification Program for 12 months as of August One 2010 – prior to this we never missed a mortgage payment – we have NEVER missed a Modification payment – have gone to NACA – TO CHASE – SENT copies of EVERY PAYCHECK – sent ALL PAPERS OVER AND OVER AND OVER – after playing by the rules – working our fingers to the bone and doing what is right – we GOT A LETTER TELLING US “THEY WOULD MAKE MORE MONEY SELLING IT AS A FORECLOSURE THAN AGREEING TO A MODIFICATION” Really – they decided after being here for 20 years we do not fit the “formula” of FREDDIE MAC (read bailout bullshit) and need to reapply AGAIN – What the F? I have been here many years – we entered a totally above board refinance with them complete with equity – credit check – appraisal -we are NOT the looney “Mega mansion” folk – my husband is a carpenter – I sold individual health insurance – both careers took a HUGE hit – we are honorable people – they only dropped our payment $500 and then did NOT tell us when they ENCOURAGED us to apply that hence forth every Mod payment was NOT “considered” a mortgage payment and for the past 12 months they have reported our monthly mortgage payments as “NOT MADE” to all 3 credit Bureaus – even though we have made every single mod payment to them – exactly as they requested – per their instructions – what the F – so our credit score went from 780 to zip-pity do da – ND NOW WE ARE IN PURGATORY – NO FINAL MODIFICATION SET – NO FORECLOSURE yet – YES YOU ARE IN – NO YOU ARE OUT – REAPPLY – KEEP MAKING PAYMENTS – CALL ABOUT A SHORT SALE – NO YOU ARE STILL IN THE PROGRAM – SEND MORE PAPERS – HERE IS A DIFFERENT DEPARTMENT – THIS IS ALL WE HEAR – IT IS TORTURE AND IT MUST STOP -WE ARE WHO THIS PROGRAM WAS MADE FOR – GOOD HARD WORKING AMERICANS WHO PAY THEIR BILLS- LIVE WITHIN OUR MEANS AND GET SCREWED BY SITUATIONS BEYOND OUR CONTROL BY FAT CATS OF EVERY PARTY…NOT JUST ONE ….BUT TONE IS REALLY SCREWING US NOW WITH LIES — WE HAVE NO CREDIT CARD DEBT – NO NEW CARS AND WORK PAYCHECK TO PAYCHECK ON COMMISSION – I AM ABSOLUTELY IN – WHO DO WE CALL TO JOIN A CLASS ACTION N LAWSUIT AGAINST J P MORGAN CHASE AND FREDDIE MAC – WHO WAS SUPPOSE TO HELP US – THE AMERICAN BACK BONE – TELL ME NOW
Even if you ask to speak to a supervisor, you get the same, programmed response: “It is Chase policy. . .” Well, their policies are unfair and possibly illegal. They purchase flood ins. and charge for it when the property already has more than adequate coverage and they have been sent the verification numerous times. I wonder how many people are having this problem. It is just one more way a bank has found to get extra fees from customers. Dealing with these people over the phone is nothing but an exercise in futility and I definitely wouldn’t recommend it to anyone who suffers from high blood pressure.
I applied for a loan modification in April of 2009, went throught the forebearance payments, and in April of 2010 I signed loan modification documents with Chase. Because I did not trust anything they told me, I mailed a SASE with the documents requesting a copy of the notarized documents once they had been signed by Chase, which I received. After absurd efforts at communication I managed to get an address to which I could send the payments. In July I received a notice by certified mail that they were going to start foreclosure proceedings on my home. After sending a written qualified request demanding resolution, I have now received a letter saying I have been denied the modification. I have SIGNED NOTARIZED copies of the modification agreement. I am ready to file suit for the anguish alone!
Hey — I am going through hell with Chase as my 1st lender, B of A the second. Chase has been giving not only me, but the lady at the Non-Profit Hud agency who is helping me to save my house the same run around on the phone… They lose papers that they ask for, etc — EVERYTHING YOU DESCRIBE ABOVE – INCLUDING MY DAD’S DEATH CERTIFICATE MULTIPLE TIMES… Now they are trying to “wait out” my unemployment to deny me a loan modification due to my UE benefits going to expire a third time – they wait until the end of the extension to ask for another letter of contiuning proof of unemployment… ETC, ETC — FOR ALMOST 4 LONG YEARS NOW — SINCE BUSH WAS IN OFFICE. I APPLIED FOR HELP WHEN BUSH WAS IN OFFICE – MY DAD HAD JUST DIED – HE HELPED ME MAKE THE PAYMENTS — AND GOT A PRE-APPROVAL — ALL AT WAMU…
AS SOON AS CHASE TOOK OVER – THERE WAS 0 – ZERO – TRACE AND NO RECORD OF ANY PREVIOUS PHONE CALLS. THAT WAS OVER 3 YEARS AGO AND EVER SINCE, BOTH I AND THE LADY HELPING ME HAVE GOTTEN NO WHERE IN THE PAST THREE YEARS — OH 0 AND THAT WAS BEFORE I LOST MY JOB AND BEFORE THE COLLAPSE OF WAMU THAT I HAD A VERBAL PRE-APPROVAL…. UNTIL CHASE TOOK OVER. EVER SINCE THEN I HAVE LITERALLY BEEN “CHASING MYSELF” FOR THE PAST 3 GOING ON 4 YEARS…
YES — A CLASS ACTION SHOULD BE FILED — I AM READY TO JOIN….
P.S…. My house is in Oregon so I hope that anyone else – no matter where you are in the country — starts speaking up to the HELL that Chase Bank is putting us through.
I am a single mom and do NOT have the time or energy to be keeping track of all the phone calls that get us nowhere at Chase Bank… I also want to say that it quickly became a FULL TIME JOB with Chase on the phone — and STILL IS — with the lady who is helping me…. Also on JUST ONE PHONE CALL on one day last year before I stopped making the payments last August — I got TRANSFERRED 12 TIMES –
told either I am in the wrong department, I cant help you, put on hold for extraordinary long amounts of time, told that the previous call I just made was “nowhere in their system” or that there was NO TRACE OR COMMENTS from the previous operator in the system before another stranger answered the line after being put on hold…. and the list goes ON AND ON –
There is a class action filed in SLO County against JPMorgan Chase. The bank appears to issue trial loan modifications, file the NOD, and foreclose after the statutory period has elapsed. Chase makes money instead of sitting on a nonperforming asset for six months. It also appears that Chase has insurance on most of the loans that makes them whole after the foreclosure. One of the big insurance companies such as AIG contracted to insure against forclosure. They apparently didn’t believe that houses in the West would decline in value. The suit was filed in May of this year and has yet to be certified. The wheels of justice grind slowly, but they do grind exceedingly fine.
My parents have been trying to get a loan modification approved for a year now. We get the tansferred from one person to another and spend an hour or more everytime we are on the line with Chase rep. We NEVER get anything accomplished! Just this past Tuesday I called to let them know that I wanted to pay the balance off on my parents account which has gone from 3400.00 up to 6500.00 in one year…but before I could find out where to send the payment the rep hung up me! I event asked if I could go in and make a payment at a local bank and was told I couldn’t!!! They don’t want the money they want the homes!!! Something needs to be done quick!! BThese banks don’t have any intention of helping anyone!!!
I think somebody needs to do something with chase..i have been going around with them due to im past due on my mortage pmts. I have been told to submit to do a modifacation package twice the first time I got a letter telling me that i dont have any hardship, well today I was told that they are still going to uphold that I dont have a hardship..I called them to find out how they can think that due to I was making 70k per year and lost my job and now im making 25k per year. they are stating that my 705 monthly pmt doesnt need to be modified. that I make enough to make the pmt. which I can barely but due to being unemployed im still going 2 months pastdue I asked if i can get the payments Im behino d put to the end of my loan and am told no due to they dont do that due to I didnt get the modifacation. that this is the only way they can do that but I dont ever see me getting the 2 past due pmt caught up due to i can just make the pmts i have by the time I do that , pay the light bill, phone bill, insurance,water, gas and what little grocery I can afford that is my whole paycheck, I have postpone taking all my medicines for asthma due to my co pay on that is 50 dollars for each one. how do they think I can make up the payments? I have been told all kinds of thing 1st was yes we can do it..to no we cant due to you have a fannie mae loan so we cant. then the corp office tried to help to be told yes we can put the pmts to the end of the loan to no we cant due to she has a fannie mae loan. then was told to do a repayment plan but that they can only do it for 6 months to get the run around there due to nobody can do that either. dont know where they think I will get the money to get caught up in 6 months on the past due , due to my pmt would be 1000.00 per month for 6 months on the gross income of 2200.00 to 2400.00 if i can get overtime. but by the time they take taxes out im still not getting anywhere..if what little i get from overtime is gone I dont know what im going to be doing to keep it only 2 months i have been pay 725 per month but the rest of that is going to late fees. I think there has to be a better way..if my car needs work or heaven forbid I get sick Im really going to be screwed. I really wish that they had to take my check and pay my bills for me at least they might understand what im going thur . Thank god I dont have any childern living at home because if i had to pay insurance on a family plan I would really be in trouble even if i had to buy the extra groceries to feed them..if anyone has any suggestions i would be willing to listen to any of them…thanks for listening..
BEWARE: Chase took an unauthorized” big chunk of money” out of my checking account! I wasn’t late on payment, and they took seven times the minimum payment!! I am calling an attorney today!!!
I was really struggling to pay my mortgage, so i applied for a loan modification. I faxed my documents to chase…they “lost” those documents. I faxed them again…”lost” again. Shortly after I received an offer to sell my home on short sale. The short sale price was only 15k lower than my appraisal value. I figured Chase would love to approve the short sale considering the amount of money they were getting. So, after Chase “losing” the short sale documents 4 times, I finally sold the house. 9 months later, I receive a call from chase saying I owe them almost $20,000. Yep you guessed it…they lost the documents. So now I have a credit report that has a foreclosure listed…lost a job offer because my credit report showed I owed chase bank thousands of dollars. And am struggling to get any answers while being transferred around the myriad of departments filled with incompetent excuses for employees.
I am considering a law suit myself, for damages and lost income. Would appreciate any input you have to offer.
I am reading all of these comments and stories about Chase……..Well I finally found enough people on the website to share my pain.
They are simply disgusting Chase has made my world up side down. Here is my story…..Nov. 2009 I was behind one single payment, I had always paid on-time never a problem….however I happen to be a Real Estate Agent, so my income too was greatly affected with the economic crisis we have all been facing. So with that said, I called Chase and said I was behind one payment, and would like to make a double payment to catch up….well you guessed it the woman on the other end says,” well why don’t you apply for a modification loan ‘OBAMAs’home affordable program’…I said well no I don’t think I can qualify for this my income is a bit unstable, ALTHOUGH I am struggling, it would be nice to have a modification, because I had bought my home for 200k in Florida, and now it isn’t even worth 75k, she insisted that I should go on the 3 month trial program, That I had nothing to lose…so she sent me the paper work and took my info over the phone…again insisted I WAS A PERFECT CANIDATE…I then said still I would like to make my payment on the one month of in the arrears , she said no this will cause you to be disqualified…do not make the payment you must be in default in order to get your modification…….like a Jerk I believed her…this has been going on since Nov. 2009….I have paid $827.00 per month as per there request on time always on the first of the month….every week I called in to find out my status….it was always something missing, send more documents, send more bank statements…etc. etc…every month was something different they needed, I had supplied them with everything they requested, same info every month…same story every month in addition every time you call its a different department and a different person with a different answer,then one day I called to get an update on my loan, they tell me its in the hands of the under writer and our records Show she will have an answer by next week, and it indicates you were approved…….After many months of living with my heart in my throat. my final call was last week I Had not heard from Chase they were suppose to send my my new paper work to sign off on my modification…only to be told I was denied my modification because they had incomplete paper work…which is not true and also that I just simply did not qualify…so it took them almost a year to tell me this, and my only choices are to pay the full amount reinstate my loan and pay the difference of the money which has accumulated with interest $8000…or short sale my home or let it go into foreclosure….just like that the person from Chase tells me….just as I am writing this is exactly what she said to me…how cruel and uncaring these people and Chase are…how dare they think its ok to give up your home just because they screwed up , and mislead me into believing I was the perfect candidate for a modification…and now to tell me this just a few days ago…and by the way my loan is also going to be sold to some unknown lender by Oct.1/2010…she said you can deal with them. they will probably send you a notice of foreclosure with in 20 days if you don’t pay the difference of my mortgage amount of $1300, mean while they have been accepting my $837.00 per month….now as of Sept 1 when I called to make the payment as I have done every month, they will not accept it, meaning they are forcing me into default. I can only hope that we all unite and file a Class Act law suit against Chase,,,,they also have ruined my credit by reporting every month that I don’t pay my mortgage, mean while they have held my payments I later discovered it was put into a suspense account…so nothing show’s as if any money has been applied….If there is a lawyer out there some where with a heart that can help us not lose our homes because of Chase and all their misleading and incompetent representatives that answer the phone’s and don’t know what the hell they are talking about….I have said my peace , I AM SICK TO MY STOMACH ABOUT CHASE AND WHAT THEY HAVE DONE TO ME AND SO MANY OTHERS.
I have been trying to get a loan modification from Chase since the end of last year. First, they put us on a repayment plan that was way over what we could afford. Hell, we couldn’t afford the mortgage, no less the extra $200 per month they stacked on top. So, we continued to send in the “regular” mortgage payment so they dropped our repayment plan. I called Chase NUMEROUS times and got the run around. Then on June 16, 2010 I re-faxed another loan modification package and all of the supporting documents. I called and confirmed receipt of same. They told me to call back in 10 days to see if a Relationship Manager had been assigned. I called back in 10 days and of course, no one had been assigned to our file. I called back in 10 more days and the same thing…. yada yada yada… fast forward to August 24, 2010 when I call and am told that our supporting docs are more than 60 days old so she tells me to re-fax paystubs, bank statements and 4506T form. I fax all that stuff and call to confirm. Then, on September 24, 2010 when I call for a status, the guy tells me there is nothing active on your file. There is no pending loan modification and Chase referred our loan to their attorney for foreclosure on September 4th. Sooooooo, the guy tells me we have to start the process completely over again. He takes all the financial information again and tells me to re-fill out the modification request packet and fax it back in with all the supporting documents. I do this again and call back to confirm receipt. This time I get a lady, Destiny, who tells me that the “Home Preservation Office” closed out our file by mistake back on July 5, 2010. WTF! Oh, we are sorry, but it was closed out by mistake. Now you have to get back at the end of the line and start all over again, meanwhile stressing everyday that someone is going to knock on your door with a foreclosure notice. Chase is so disorganized and don’t give a rat’s behind what happens to any of us. They have to pretend that they are helping us out since the government bailed them out. I wish we could file a class action against them. They definitely need a wake up call in their loss mitigation department.
I am only hoping that the media gets involved and exposes Chase and puts them on “shame on you” and the Washington Post, the New York Times, CNN AND I CAN GO ON AND ON, I’m so angry what they have put me and my family through AND continues too……
I hope there is some justice done for all of us, that have be subjected to false modification promises.
I have had the same problem with chase lets start a class action.
UPDATED….PRESS RELEASE
FOR IMMEDIATE RELEASE
Dec 2, 2010
Contact:
Sharon Hayes
314-504-7975
Sharon@hayeslimited.com
Seeking Legal Action Against Chase Bank
St. Louis, MO., Dec. 2, 2010
1. We were told that we are the perfect candidates to receive this so called “loan modification”
2. We started the proceedings after my husband had lost his job in 2009 and we had several unexpected medical conditions pop up
3. I started a new business in 2008 and it is just getting off of the ground
4. We had never missed a house payment prior to applying for the modification
5 We never missed a house payment during the proceedings of the loan modification “trial period” in which they lowered our house payment by about 1k per month.
6. In October of 2009 We went online and downloaded the application, filled it out in it’s entirety, which took 15 hours of our time to gather and fax.
7. We had to keep calling to try and get answers on what was happening with the modification, because they would not call us. However their debt collectors called continually.
8. We were never able to get a hold of someone who spoke proper, understandable ENGLISH, and could never get a hold of the same person twice… it was literally like pulling teeth to get any answers.
9. When we finally were able to speak to someone in ENGLISH, they said we were still missing some papers (which we weren’t, because there was a check list and I am meticulous when it comes to files and paperwork) and they told us we would have to start from the beginning and re-fax everything again. This time we had to re gather current data, so it took another 10 hours of our time and some of the application papers had changed, so we had to redo everything and fax again
10 Another month goes by and we phone Chase and again they claim missing paperwork, due to the fact that the people receiving the faxes are in another state and that they may have lost the papers during transmission….so this time I told them to send me an overnight package and I will send a copy via FedEX.
11. All along the way they were reassuring us that we were perfect candidates for the modification, giving us hope that things would be fine and the paperwork time was worth it. I have several letters they sent us telling us how much they wanted to “help us”.
12. In June of 2010 they sent us a letter stating that our loan modification was “Denied” BECAUSE WE HAD NEVER MISSED A HOUSE PAYMENT AND THEY SAID WE MADE TOO MUCH MONEY IN 2008. HOWEVER… THEY SHOULD HAVE BEEN GOING BY OUR 2009 RETURNS!!! and that we were now in default of a past due amount of the 1k for each month of the “trial period”
13. At this point we decided to put some money into trying to sell our home and hired a listing agent, while still making our house payment.
14. Then one evening in early September a man delivered a Certified Letter from CHASE stating once again how they wanted to help us and that we should re apply, so we called them on the phone and said that we had listed our house, but that if they thought we could “ACUTALLY GET A MODIFICATION, WE WOULD REAPPLY”. At the same time this delivery man was outside our home taking pictures of the “FOR SALE” sign in our yard.
15. We took the house off of the market the next day per their advice on reapplying. I worked until 4 in the morning filling out, gathering and coping another set of these papers, then took it to the Fed Ex office first thing that day.
16. We and our real estate agent then started receiving strange phone calls from people pretending to have interest in the house and wanting to get in to see it… Later we found out that these were people who sneak in on behalf of the bank to change your locks… we also started receiving several phone calls daily from the CHASE phone numbers and when we would answer, they would hang up. I spoke to CHASE again and they said they noticed that the house was marked as a “short sale” in their records. A short sale was NEVER discussed with CHASE or anyone else. We put our home on the market on our own.
17. My husband calls to find out what is going on with our loan modification and the woman says again… “we are missing papers, you will need to start over and resend”… by this time we are ready to pull our hair out because of the hours and money wasted, and their lack of competence.
18. We went online and again it is the same papers we have filled out and sent in over and over, 4 times, 2 via fax and 2 sets via Fed Ex.
19. We then received a letter via the U.S. Postal service regular mail stating that they are going to foreclose on our house on November 15th. In with that same letter was a letter stating that CHASE bank really wants to help us and that we should apply for a loan modification… HA!
20. I called CHASE one last time to see what they had to say about all of this and they said that there is not much time but that they are still missing our paperwork… I insisted once again that everything was in the Fed Ex and in all of the faxes, but she said it must have gotten misplaced. When I told her I wanted to hand deliver the pack this time and that I am willing to get on a plane to do so, she giggled and said well any office you go to would just be faxing the work to the same number you would be sending it to. I told her that this was no laughing matter and said that my husband and I have been working since we were 12 years of age to get what we have and then said my good bye. By the way this girl sounded as though she was just out of high school.
I am sick over this, not because we are losing our home that we worked so hard for, because I know we will be just fine without CHASE BANK, but for all of the people out there who still believe that these people truly want to help, when the truth is it seems that they could care less.
You can fill out the paperwork and they can throw a few pages away, and drag it out until you are so far behind, then be refused the loan and they pull the rug out from under you. My suggestion is to take it in person and sit down with a “real” person, but after my conversation with Chase, they won’t do that either… so I call this one a BIG SCAM!!! I am now seeking legal action, and a class action suit.
UPDATE: A few weeks ago we received 6 CERTIFIED letters and 5 Regular US Postal letters from the attorney’s representing Chase Bank here in MO. All of the letters said the same thing… The house was going to be foreclosed on and the sell date was now set for November 29th. Behind each letter was the same letter stating the Chase Bank really wants to help and that we should apply for the loan modification. Right.
We then received a phone call saying that if we did not vacate the premises by November 29th a sheriff would come and escort us out.
I had to move my entire home the day after the grand opening of my new store, causing even more stress to my medical problems created by Chase Bank and their lies.
Several more calls came in day after day and finally we decided to start seeking legal action. We had an estate sale and had to give away several belongings we had hoped to keep but could not fit into our new home.
On November 29th, the supposed foreclosure date… I received another phone call from Chase, asking for a house payment… they did not foreclose.
Now we are seeking legal action for all kinds of damages, including medical for serious stress related illnesses.
I’m also looking for a lawyer that would take on Chase. I’m so tierd of telling my story. I own a home in Michigan I paid Chase like clock work. I had carried an escrow account on my mortage insurance and taxes they failed to include the county taxes the County sent a certifited letter that they would be putting the house on the chopping block. i called Chase an asked them what was going on they said no problem. they would fix everything they did to the tune of 1500 more monthly on my mortage when I told them they needed to do a motification in June after sending repeatly forms after forms same forms they sold the loan to another company I’m still sending forms and I’ve been informed that I need to find Insurance for my home aand my credit has been reported in the neagtive. so I’m looking for an Attonery any advise????
Hello
I’m also looking for a lawyer that would take on Chase. I’m so tierd of telling my story. I own a home in Michigan I paid Chase like clock work. I had carried an escrow account on my mortage insurance and taxes they failed to include the county taxes the County sent a certifited letter that they would be putting the house on the chopping block. i called Chase an asked them what was going on they said no problem. they would fix everything they did to the tune of 1500 more monthly on my mortage when I told them they needed to do a motification in June after sending repeatly forms after forms same forms they sold the loan to another company I’m still sending forms and I’ve been informed that I need to find Insurance for my home aand my credit has been reported in the neagtive. so I’m looking for an Attonery any advise????
I am in Kansas fighting Chase and Deutsche with all of these same issues. I have been working with Chase for over a year to no avail. Deutsche now is trying to foreclose, even though the title is not in their name.
I would be interested in a class action.
Good afternoon to all that have posted in this
blog. How can we get organized across the country against JP Morgan Chase. I have a case that needs to go public but unless we are strong in numnbers we have no voice anywhere.
I have some ideals but I need support in moving this across the country and help to get it started in Tennessee where I live.
Please express interest in this blog. Thank God
for whoever started this blog but I do not see any recents posts. I have hoping that this will get seen and we can fuel some interest here again.
I found all of you by searching on google under class action lawsuits for JP Morgan Chase.
If the owner of this forum could make contact with me I would love to see how we can organized.
I have an event person that packs 17,500 plus sporting arena’s I can organize but need everyone’s need on this forum to do so.
If, any of you have family of friends in the state of Tennesse that would like to form a class action lawsuit just left me know. I have already been in contact with the Tennessee Department of Consumer Affairs and the State Attorney General office.
I am writing to file a complaint against Chase ( home loan servicing) Bank. I have been turned down for the 2nd time after applying for the “MHA”. Both times I was denied because I haven’t been delinquent or in default. Both times I was ENCOURAGED to apply and was told this was “A good thing”. Both times I demonstrated a loss of $1200.00 in monthly income. Both times I cooperated fully and supplied them with every request for any documentation necessary to complete the process.Both times it was explained that Chase hadn’t denied me, my investor did. I’ll get back to that later. This time it took less than 30 days to deny me.(Last time it took 5 months) AND…THIS time I was told I was also denied because:
1) I did not recently become divorced.
2) I did not have a spouse (or “co-borrower”) DIE.
3) I did not become disabled.
When I asked as to why this isn’t in the application as a prerequisite for qualification, I was told that “Under Federal law, we could never refuse you to apply, that would be discriminatory and someone here would lose their job”. It was suggested to me that if I were to fall behind (3 months), perhaps then Chase would intervene and grant the modification but of course there were no guarantees.
Herein lies the biggest paradox, because I am a good customer, having always paid on time, and now asking (truthfully what feels like begging) for some help, I DO NOT QUALIFY. My credit is still good, their only response was to tell me to ruin it.
Additionally, I have a Fannie Mae mortgage. So, in essence, the same lender that approved me for a Sub-Prime loan now denies me the opportunity to amend it and “Make my Home Affordable”. In case you are wondering, NO I do not qualify for the “HARP” either. It seems my debt to income ratio is too high. I can only express that tremendous irony with the phrase “DUH!”. A 30 year / 10 year Interest Only loan @ 6.8% . Why would they want to give that up? They have made nearly $50,000 in 3 1/2 years off of me.
And so I come to you seeking help, justice and vindication. I am of course, furious, frustrated, desperate and apathetic. How can HUD even allow this program to be titled “MHA”? All I want to do is make my payments affordable so that myself and my 3 children can remain in our home.
I have much more information, but I’ll let that wait until I get a response from your office.
Thank You,
Nancy Malinoski
Our story parallels what I have been reading in this blog of people dealing with Chase. After confirmation one day that appropriate docs have been received, the next day, I get a totally different paradigm–new hoops to jump through. This has happened EVERY time I have called and that is VERY frequently. These new hoops involve considerable additional time and expense that I can hardly afford as I need to keep making Profit and Loss statements for which I need professional help to prepare.
Here’s an example, on Tuesday I was told to get P & Ls for Oct and Nov–separately. On Thursday, I was told, no– get P & Ls Jan to Dec 2010. By the way, if you get this request, you must sign and date each page of your own P & L. That’s another “little” glitch they have inaugurated–just FYI.
Then, I was told, we sent you a letter requesting such and such docs and you have exceeded the 30 days to comply, so you are out of modification status. It really doesn’t matter that I sent all that documentation then? Oh no, we don’t have it. Oh really, well my cover letters and docs from the branch confirm that it was all sent. Hmmm, we didn’t get page 4 of the RMA–or whatever other glib remark they can come up with–which, by the way, is untrue.
Another helpful tip–fax them through your local branch of Chase. They give you a copy of the verification. You might wonder, if you fax directly through Chase to Chase, how could they not receive the docs? I do too, but at least I have their own verification, right?!! Another perk is that the staff at the branch wonders about why you are submitting hundreds of pages at a time and they are generally pleasant as opposed to the non-competents on the phones.
I was actually told that I had to stop making payments in order to get any loan modification. Then I was told I had to make up all the payments I couldn’t make in the first place.
We are in real estate and have seen our income drop 80%. We have tried to work with Chase for nearly 3 years now. We have made loan modification trial payments for 14 months now and are always encouraged to keep making them. I have evidence that the payments are applied to the loan. However, yesterday I was told the payments aren’t actually going towards our loan payment since they are less than the “actual” payment, but are held in suspension. What the hell is that? Am I working toward loan modification or not? The telephone contact for that day couldn’t explain.
I am desperately seeking a venue to join with others in filing a class action suit. I don’t know where to begin. Does anyone have information that would help us? We live in WA state.
I have been attempting a loan modification with Chase Home Finance for nearly two years. My original payment was $1,100.00 per month on a thirty year fixed rate. Two years ago my monthly payment was increases to 1,500.00 per month. At that time tax evaluations were going down, insurance was not going up and there was surplus in my escrow account. I told a Chase rep I would need to do a loan modification if they had to have that much more in monthly payments. I have filed five applications for loan modification with Chase. All five have been lost. In the midst of my sixth application for a loan modification I received notice my house was going to be sold at a County Trustee Hearing in six weeks. I am at my wits end as how and who to deal with at Chase Home Finance.
Rocky get a lawyer asap thats what they did to me….after they got a call from an attorney all of a sudden they found the application and after 2 years of nonsense with them they gave me an in house modification…keep fighting…get a lawyer that handles modification cases.
Hi
My story is different from yours I too have Chase but I don’t own a home. It all started on 12-6-10 I went to my local branch and explained to them that I had run into some fincial diffculty and I wanted to them to stop all ach withdrawls from my account. I let them know that I was working with a debt assistance program to try to get my life back on track. I was told by two different bank reps that there was nothing they could do I needed to contact the creditors. Come that Friday the bills started coming in I only had about no more than a little over a dollar in the account they decided to pay at least four of my creditors taking my account over $700.00 two weeks later they decided to pay two more now taking my account over $1000.00. I explained to them from the beginning that I was not going to be able to pay them and this program. Since this all has started I have been into the bank twice, sent them a letter and spoke to numberous people on the phone everytime getting a different answer with the same outcome nothing we can do. I just went into the bank last Thursday and was asked if I wanted to close the account I told the guy I didn’t think I could since there was an outstanding balance. He was oh yes that correct. I am so frustrated I later found out from my debt assistance program that I had everyright to stop the ach withdrawls 3 days prior to them being taken out. On my last visit to the bank I was told that my account is scheduled to be close on 2-10-11 60 days after all this started they would not put a restriction on my account so this leaves my account open for the creidtors(who have been notified) to keep trying to send payments through causing me more fees. They told me they are going to refer my name to some check report(?) I don’t know what to do.
My husband and I have been working with chase about a refi! We had never been late on any payments until they told us we had to get 3months behind we did on the thrid month my husband calls them they tell us they cant help us. Then he gets in touch with someone else who works for them they tell us we just need to move out and give them the keys another says dont send in mor paper work and so on. My husband has a note book of names, numbers what was said no help. Last time he talked to them they told us to send more paper work in the same has we had done 3 or 4 times we had until that friday we call them to tell them and they tell us our case is closed its beens sent to forclosure….We never talked with our case mang. and never the same person then we are told a week later our house will be sold at the court house on Dec 7,2010. It didn sell then we get an agent come to us telling us we have to be out in 30 days she works for Chase. If any one has an case agains them please email me mcorley79@hotmail.com This happened in GA
Please count us in on any class action lawsuit against Chase Bank and shutting off HELOCs without an appraisal.
Brooklyn, New York.
My parents have been barely surviving the econmic times and they have been 2 months late with mtgage with Chase. I have been helping them with modification’s but it was turned down due to a delay in getting an SS receit to them in time. Recently I made a payment that dissapeared through the branch, I have proof of payment (returned check) and because the loan went late the third month and the next payment was not made on 1st of following month, house went into foreclosure 6 days ago. mcorley79 I am with you, I am ready to go to court, have been taking names, dates and number of times transferred. In the Payment Dispute queue now.
Now we have to pay attorney fees and fear the loss of my parents house. Starting another loan-modification again, will try to follow the rules.
Chase is a miserable bank. I have been trying to get approved for th UP program for over 9 months. The level of incompetence is hard to comprehend. From continuously lost documents, files that stay in limbo for 6 months or more, getting shuffled around to the wrong departments, misinformation, left hand doesn’t know that the right is doing, always need just “one more thing”, every agent tells you something different, can never seem to get a status update…. after nine plus months of HELL they decided to scrap my file saying I should not have crossed out with one line and initialed a error (3 numbers) on a document, so they denied my request! what a joke! As soon as my file was scrapped the immediately put me into foreclosure status. There are NO words for how I feel about Chase. Epic Fail.
OMG! I thought I was alone! As I read everyone’s stories, I felt like I was reading my own! I had a trial mod for 9 months and always paid on time, gave them what they needed, the whole nine yards…Trial mod expired but I continued making my trial mod payments my last one was refused because they said I should be getting loan docs soon. So I thought “finally”. A week passed and still no docs. I called Chase and they said I was going to be “escalated” whatever that means…I call back, and a lady said I was denied for not sending documents in a timely manner;That was a big NEGATIVE, I sent everything they have asked and she said “Oh then it probably got lost or something”…I get disconnected and someone else from Chase says that I need to reapply…I did and it was just a rerun with another excuse…NVP numbers, so I went with a short sale, got plenty of offers ranging 150,000 and 199,000, but they were denied because according to Chase the offers were below market value of 275,000…To make a long story short Chase offered me 3000. dollars to move because they now own it. I can’t wait to see what they end up selling it for….guaranteed not 275,000. Is this how the Jews felt when they were forced out to the Ghettos! Educated people working just to survive and help the rich get richer!!! I’m disgusted with these heartless, greedy people that set up and sold all these 1-2 year FIXED and OPT ARMs! How can experts not see this coming…they’re so full of it! When I got my loan, traditional loans DID NOT exist! Nobody is asking for freebies, just help to pay back in FULL!
How do we start a lawsuit? I’ve been going through hell with chase and now I’m about to foreclose
chase is in hot hot water
Please join this page and share your experiences, it’s time Chase treats us homeowners with respect and dignity.
http://www.facebook.com/pages/Taking-action-against-Chase-mortgage-Co/201838389837977?sk=wall