COLUMBUS, OHIO -- I have a ten-year home mortgage that was refinanced with Chase in 2003. I pay my own property taxes and insurance (i.e., no escrow account). March 18, 2010 - Chase sent a letter accusing me of being delinquent on my property taxes and threatening to pay them for me and set up an escrow account for all future payments. My taxing authority allows for semi-annual payments, due Nov 30 and June 30 each year. I had paid in November; June was not yet due. After calling my tax authority (who did NOT report me as delinquent), I called Chase and learned that I need only send copies of my receipts to clear this up.
March 23, 2010 - Certified letter to Chase with a copy of the receipt for November payment, and explanation that my taxing authority allows installment payments. Next payment due in June. Requested they respond that this was sufficient documentation to resolve the problem. May 19, 2010 - Chase writes to tell me that they still consider me to be delinquent, that they paid my "delinquent" taxes for me and have established an escrow account. May 21, 2010 - I received the May 19 letter, too late to make any phone calls.
May 24, 2010 - Began making telephone calls to Chase and my taxing authority. In the process, I learned that Chase's third party tax agent, First American, had made a mistake in pulling "delinquent" accounts, and forgot to exclude people who were on installment payments. This had impacted about 200 people in my county alone. Chase was aware of the problem, but they did not communicate it to the low-level "customer service" representatives, nor to their supervisors.
After many calls, transfers and a lot of on-hold time, I learned that because they didn't have a letter from my taxing authority SAYING that I could pay in installments, they still considered my account delinquent. May 27, 2010 - I faxed and sent certified mail the requested documentation, with a request that the escrow account be "unestablished" as it was inappropriately enacted. I requested a response. June 3, 2010 - Chase sent a letter notifying me that they had received a past-due bill from my tax authority (not true) for the property taxes and had sent a check and established an escrow account.
June 4, 2010 - I received the June 3 letter and called Chase again. After much run around (customer service can't help, you need to talk to the Tax Dept. Tax Dept. can't help, you need to talk to Escrow Dept. Escrow Dept. can't help, you need to talk to Tax Dept - All while being on hold in between with really annoying repetitive "music."), I finally got to speak to a supervisor who seemed to understand what happened and opened a "work order" for me.
Supposedly, the only thing that needed to happen was for my tax authority to return Chase's check back and everything will be resolved. If I had any more questions, I should be able to get assistance by just referring to the work order number. My tax authority meanwhile was collecting a number of Chase's checks, which they were not cashing and planned to return, but they could not get anyone at Chase to tell them where to send them.
June 7, 2010 - I paid my remaining balance on the property tax and faxed a copy of the receipt to Chase. I also sent a copy by certified mail. June 10, 2010 - I received yet another "nasty-gram" from Chase about how much I would be required to pay on July 1 as a result of my being delinquent in paying my taxes. I called Chase again, with the work order number. Short story - it did no good. Customer service routed me to Tax who routed me to Escrow. The fellow in Escrow was very condescending and patronizing, saying I MUST have done something wrong, or this would have been resolved. He also tried to route me back to Tax Dept.
I requested to speak to a supervisor; he sent me back to Customer Service, where I stayed on hold for about half an hour before their service department closed. I heard "We're sorry, but our offices are now closed...." and I was disconnected.
June 11, 2010 - I obtained a letter from my tax office to Chase explaining that I had not been delinquent, that I was on an installment payment plan, and that they were returning Chase's check. I faxed this document to Chase and also sent it certified mail.
To summarize, this problem should never have happened, especially after I sent in documentation showing Chase was wrong. I had to force them to acknowledge having the documentation when I told them I had the certified mail receipts and the fax confirmations. Even though they were looking at the proof, they said nothing could be done until they got their money back.
It is my position that it was Chase's mistake sending the check in the first place, and that it is between them and the tax office. I shouldn't have to correct or pay for their mistake, nor do I have any leverage at the tax office to force them to send the checks back. (The tax office told me they will be returning the checks early next week, but it may take up to 30 days for Chase to acknowledge having them. My next mortgage payment, with the escrow assessment tacked on, is due before that.)
Proposed resolution: reverse the establishment of the escrow account and revert my monthly payments back to what they have always been. A letter of apology would be nice, too. As soon as I get this cleared up, I will research paying off the loan and getting Chase out of my life. I just pray there are no more screw-ups before then. (And there is a whole other story about their harassment regarding how much insurance I carry on this property.) Thank you for reading this lengthy rant. I hope it helps others.
NEW YORK, NEW YORK -- I have been jerked around since 2008 by Chase Bank for loan Modifications. In 2008 I had a major heart problem that put me on a long-term disability. I was informed by Washington Mutual that my request for loan modification was approved and that I would be getting a confirmation in the mail. 60 days pass by and no response, I call them back and am informed that my application is under review to verify which program is best for me - the bank's internal program or the President's program.
Another few months pass by and no reply. I contact the Comptroller's office and they took my complaint and contacted Chase Bank. I was asked to make a new application, which I did. All this time during my communication with Chase both my wife and I were employed.
In February 2009, when I went to make my monthly mortgage payment to the bank, my payment was rejected and on inquiry by Bank manager, he was informed that since I had applied for loan modification, they could not accept payment. I forced the bank manager to get me assurance that this would not affect my credit; the customer service authorized him to take the payment. The same was repeated in March 2009; this time they refused payment informing me that since I am in loan modification, they cannot take any payments from me. The payment from February 2009, was also sitting in a suspense status.
In 2009 April I started to get notices of cancellation of my credit cards from American Express, Bank of America and others, where my account was current with zero balance outstanding. On inquiring with my creditors, I was told that my credit cards were cancelled because of negative report from Chase Bank. Then on May 15th, 2009, I got a letter from Chase stating I was approved for temporary loan modification for 90 days with the stipulation that if I met the conditions of loan modification for 90 days, I will then be granted permanent modification.
I met all their requirements and after the last payment called them to send me the new loan papers and monthly statement that I had not received since January 2009. After my call and completion of Temporary loan modification requirements in August 2009, an appraiser showed up at my door one fine day, not knowing who had sent him. I did not give him permission as he did not have any documents authorizing him to enter my house. I called Chase Bank to inquire if they had done so, they replied in the affirmative and also apologized for not informing me.
The appraiser came in after a few days and thereafter I called the bank to inquire and I was told that I did not qualify for loan modification because my income did not justify it. My wife had lost her job in June 2009 as a teacher's aide. I contacted the comptroller's office and one of their consultants called Chase Bank and it was determined that my income was satisfactory and did qualify. I was told to file another application which I did. Unfortunately on October 16, 2009, I was laid off from my job and when I submitted my documents, I was told I did not meet the income requirements.
Chase exploited me for solid 3 years. If they had not jerked me around, I could have gone to another financial institution, I could have been approved. In April of 2009, my wife and I had a joint income of over $ 140,000 per annum. I have been unemployed for last 2 years, I have not missed a single payment have a credit score of 740 and yet the banks will not grant me a loan because I have no job. I would greatly appreciate if the President's office can assist me in my dilemma and help me lower my interest. Both my wife and I took an early retirement to support ourselves.
We have been making our payments and if the interest rate is reduced from the current 5.95% to 4% or lower, our payments will be reduced by $1,000 per month. Helping those who have been living up to the rules and not abusing the system are losing out. Those of us who have not missed any payments are not into foreclosures are being penalized and those who abused the system or are to no fault of their own underwater are getting help but those of us who do not have income to substantiate new reduced rate loans are not receiving any help from the Banks or the White House in securing reduced rate interest loans
I have now decided to contact consumers for video clips of their experience and frustration and putting together a UTUBE video for all consumers to watch and hopefully that will have some negative effect on Chase's roadmap of exploitation. UTUBE brought positive action at United Airlines after a Complaint by Musician David Carroll after his treasured Guitar was damaged in Transit.
PHOENIX, ARIZONA -- My mortgage was sold to Chase Home Finance in 2000 from Litton Loan servicing center. Upon refinancing we went from a 30-yr mortgage to a 21-year fixed rate. In the last 12 years we have never been late on our payments and have paid on time. Now all of a sudden Chase says we will owe a balloon payment of 65,000.00 coming due in 12 months. Every time I call Chase and ask for a copy of our contract they send a one page document that says nothing I remember signing. I do, however, see some gibberish about a balloon payment coming due that looks typed in at another time and I do believe that's illegal.
There's definitely some mortgage fraud going on, but I can't seem to get any good advice on how to handle this problem. When I talked to Chase numerous times on the phone about this, I seem to get different answers from their so-called qualified employees whom don't have a clue what's going on. The first person tells me my loan is a fixed rate and will be paid off in 2015 free and clear, the second person tells me my loan is an interest only loan that I have been paying and will balloon in 12 months. I have paid this loan on time for years and now I am going to lose my home.
I tried to work with Chase for a loan modification and that was a line of crap, I also tried to refinance the balloon payment and they won't even offer me an assistance. Although my credit is fair & good I still cannot get any help from anyone. I've been an honest American citizen who pays her bills and works everyday, I just can't believe this is happening. If anyone has any suggestions or answers it will be greatly appreciated.
NAPLES, FLORIDA -- My wife and I have have had a home equity line of credit with Chase Home Finance for years. Although our minimum monthly payment is roughly $95.00, we have been paying $1,000.00 to $1,500.00 monthly. In April 2010 for some reason we failed to remember to make our payment. (We believe the statement was never received.) Upon discovering our error in May 2010, we immediately made two payments of $1000.00 each. Due to our error, Chase Home Finance has closed our line of available credit. They refuse to re-open our line even though we have explained our error, and continue to make payments over ten times the minimum due!
Now, Chase is demanding, copies of three years W-2 forms and tax returns, as well as every pay stub thus far in 2011. In addition, they are demanding we sign a form allowing them to receive verifiable tax returns from the IRS, as if we are dishonest in supplying our copies to them. On top of it all, every individual we have dealt within trying to clarify this nightmare has been disinterested in helping us resolve this issue, uncaring, and rude! We have more than enough funds on deposit with Chase Bank to easily pay off the outstanding balance.
Today we are closing our savings account with Chase Bank. Our checking account will soon follow. In the near future we will obtain a line of credit with a competing financial institution, pay off Chase, and be done with them forever. My advice to anyone who reads this... DO NOT ENGAGE IN ANY BUSINESS DEAL WITH CHASE HOME MORTGAGE!! The personnel at Chase are unreasonable, rude, and simply don't care about their customers.
My wife and I put in for a loan modification through Chase and it was the worst thing we ever done in our lives. Originally they said to qualify you must be current on everything and that the type modification we were asking about would not reflect negative on our credit report. Our home was not upside down, we never been late on payments, and had excellent credit. We simply had no money left month to month. We were house poor, but were not delinquent on anything. From the time we asked for relief, Chase began treating us like they were a collection agency. They got all our information of hardship, and then proceeded to damage our credit.
They originally appraised our home at $400,000, now they list the value on their website at $220,000. They put us in an escrow and said they paid our insurance and taxes, but thank God we followed up and paid it ourselves else we would have had an insurance lapse (They finally paid it for the year; though we were current with installments and asked them not to). They cut our credit card. Also when they cut our equity line of credit, and backdated it hoping some checks would bounce by the time we got the letter in the mail (We didn't fall for that one).
Chase dragged us around 1 ½ years with no intention of helping us. We understand Chase is doing this to millions of their customers that ask for relief. In my opinion, they took what was supposed to be help for the middle class, turned it around and used it as some form of punishment. Shame on Chase!
SAN DIEGO, CALIFORNIA -- DON'T DO IT!! We were offered and accepted a rate reduction for our loan on a property in Texas. After agreeing to a rate we paid an application fee of $395.00 and a closing fee of about $450.00 after the loan was approved. We signed all the closing docs with a Notary and had a date to start the new loan a month later. Then all hell broke loose. To make a long story short our loan officer and Chase bank in San Diego were not authorized to make loans for Texas properties. Our officer was still in training and didn't know he couldn't sell a Loan Mod for a Texas Property.
We did not look for this loan, they called us! They wanted to start all over again with a new rate that was not acceptable to us. We said that we weren't interested in a new rate and wanted a refund. They said they would not refund the App. fee and then charged us for the $175.00 for the Notary! We are going to be suing in small claims but this is a joke. They won't even return our calls. We have been a Chase customer with no late or missed payments for about 5 years. I will be looking to refi with someone else. Chase is a Rip Off... WTF. Don't say you haven't been warned!!!
COLUMBUS, OHIO -- After being inundated with literature, I finally decided to try to refinance my home with Chase. I already pay my mortgage to WAMU, whom Chase is taking over. Talking with **, who was "excited to be my loan consultant", told me I was "pre-approved", and "with my excellent credit rating, would have no problem getting this loan". I went ahead and jumped through all the hoops required to apply. THEY HAVE ALL MY PERSONAL HISTORY. I was told there would be a $395 dollar loan application fee, but again, was reassured that getting this loan would "not be a problem".
A couple of days ago my app was denied for "Insufficient value of collateral". Now that they have my money, requests for a refund of my $395 have been ignored. I have sent 3 emails and 2 phones calls. I guess "customer satisfaction" is not as important to them as they claim in their literature. What do I do? Anyone else get ripped off like this? I think that a company that gets billions in bailout money, and pays their execs millions in bonuses, should not be taking a few hundred bucks from a school teacher who is actually making less now than 5 years ago.
ORANGE, CALIFORNIA -- This company now has a BBB ( Better Business Bureau Rating) of "F" and can be viewed here: **. The Rating of "F" means this, straight from the BBB Itself: "We strongly question the company's reliability for reasons such as that they have failed to respond to complaints, their advertising is grossly misleading, they are not in compliance with the law's licensing or registration requirements, their complaints contain especially serious allegations, or the company's industry is known for its fraudulent business practices." I will be pursuing a Class-Action Lawsuit soon, for more info please contact me at **.
UPDATE: Stop The Fraud, Save Your Home. It's been almost 4 years now since I first posted my original complaint located here: **. Time may have passed, but I have never truly given up. :-) Let's Get Organized, for REAL!! We are getting organized now, and putting all our stories in one place. It is all being placed on Facebook for the entire world to see. If you would like to have your personal story added to the Blog for review by Senators & Congressmen, please add yourself as a friend and send me your story via email to: **.
Please remove any information you don't want seen by everyone on the planet. Your information will be uploaded "AS-IS". ** with "Justice Watch 09" is on-board with us, and at the U.S. Capitol as I type this. The Facebook page can be found here: **.
LOS ANGELES, CALIFORNIA -- Have home finance with Chase, my mortgage rate was about to go up, so I started looking around for a refi. Chase customer services informed me that I would be allowed to make two short payments for the life of the loan, did this and Chase customer services put late payments on my credit, making my credit score low, so having difficulty refinancing.
The account went into dispute, then customer services sent me a letter to send to the credit bureaus to dispute my credit report. Customer services also told me that the dispute was resolved in my favor, then the same customer service keep calling me telling me they will report me to the credit bureaus, because the dispute is not resolved.