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JP Morgan Chase - Mortgage Loan stopped 1 1/2 weeks before closing!!
Home Loan - Complaint
Review by judyholmes007 on 2012-03-14
Rating: 
SHERMAN, TEXAS -- I hope I am writing to someone who can check this out. My husband and I had our home up FOR SALE. A couple (Mexican) came to see our house and fell in love with it. They went to Chase for financing, got their pre-approval, and we were all happy campers.
Now here we are, about 1 week until closing. My whole house is packed up, movers are scheduled, new house for us is ready for closing 2 days after we close on this house. BOMBSHELL!! Our realty company called yesterday around 6pm and said Chase Underwriters decided to cancel the loan.
There people had a pre-approval letter, we all had moved forward in good faith, and now Chase has pulled the loan? How crazy is that? We are all so disgusted with Chase for these actions we are thinking seriously about filing suit against Chase, and calling NBC for an interview about Chase's bogus loans, and how these "Big Dogs" have jerked the common everyday family around! I have talked to several people about this and they cannot believe how Chase treats their customers. I am not going to take this laying down. It is wrong for Chase to treat people this way. Our last
name is Holmes and the buyer's name is Sanchez. I am going to spread this as far as I can go so that people may know just how hard-hearted Chase Mtg is.
Now here we are, about 1 week until closing. My whole house is packed up, movers are scheduled, new house for us is ready for closing 2 days after we close on this house. BOMBSHELL!! Our realty company called yesterday around 6pm and said Chase Underwriters decided to cancel the loan.
There people had a pre-approval letter, we all had moved forward in good faith, and now Chase has pulled the loan? How crazy is that? We are all so disgusted with Chase for these actions we are thinking seriously about filing suit against Chase, and calling NBC for an interview about Chase's bogus loans, and how these "Big Dogs" have jerked the common everyday family around! I have talked to several people about this and they cannot believe how Chase treats their customers. I am not going to take this laying down. It is wrong for Chase to treat people this way. Our last
name is Holmes and the buyer's name is Sanchez. I am going to spread this as far as I can go so that people may know just how hard-hearted Chase Mtg is.
Comments:
Posted by traceylynn on 2012-03-14:
The problem isnt Chase. The borrowers had to prove what they gave Chase as far as income, debt, sales price, ect. was factual. Somewhere along that line something didnt match up and that is why it was canceled. The 'pre-approval' letter is off of information given to Chase and Chase typed up that letter in good faith that those numbers were right. Obviously they werent which is not Chase's fault.
Posted by Kris10 on 2012-03-14:
Unfortunately, pre-approval isn't an approval. I'm sorry to hear about this, but I can't see how it's really Chase's fault. They probably found something that made them decide the loan was too high risk or something equally as disturbing to a company who is in the business of loaning out money and getting it back.
Posted by trmn8r on 2012-03-14:
Think how "crazy" it would be for a bank to loan a ton of money to someone who turns out to be a bad risk. Think about it. Sounds like something came up that made the bank think twice. The timing stinks, but this is something that can happen.
Are you looking to make it to NBC with your one story, or have you found a pattern of this behavior?
Are you looking to make it to NBC with your one story, or have you found a pattern of this behavior?
Posted by FlShopper on 2012-03-16:
Why was the ethnicity of the potential buyers mentioned in the OP? Do you think this may have had something to do with the loan falling through?
Posted by Justice-4-All on 2012-03-16:
FlShopper> I asked the exact same question, almost verbatim, on another review about a young girl being treated rudely at her first job interview. And the comment was subsequently hidden from public view. I can see it, but I don't think others can. You can always tell by the scrunched lettering and type format.
I meant nothing disrespectful by it, as I'm sure you didn't either. I was only curious what it had to do with the review, unless they may have felt that it played a part in the incident.
*scraping the eggshells from my feet*
I meant nothing disrespectful by it, as I'm sure you didn't either. I was only curious what it had to do with the review, unless they may have felt that it played a part in the incident.
*scraping the eggshells from my feet*
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