Chase Manhattan Bank Complaint - Chase Mortgage Loan Assistance Program is a fraud
P.O. BOX 78420, ARIZONA -- My wife and I have a mortgage with Chase Manhattan that still has 5 years to go to be paid off. Several months ago I lost my job and it has now become difficult to make the required monthly payments although I have never been late. I had heard that Chase was participating in a mortgage assistance program that could result in lowered monthly payments. After contacting Chase in early June, 2009 I downloaded a form and a list of information they wanted to consider extending the loan and reducing the monthly payments.
On June 8 I faxed 49 pages to the required number. On June 12 I followed up to see if everything was transmitted and was told that I would be called if there was any problem and that I should not expect a decision before 4 to 6 weeks. On July 28 I called again and was first told that they didn't have the information. Then they said that it was incomplete. Finally they said that the program had changed and I had to complete a new form with some new information plus some of the same information previously sent. They said that the dates were now almost two months ago. As another example, in the first submission they wanted proof that real estate taxes have been paid. Now they want a copy of the real estate bill. They blamed the Federal Government for changing the rules and for the fact that Chase moved the office to Rochester, NY.
I will assemble the information requested and make a new submission but I am convinced that there will be more delaying tactics. I don't think they are interested in modifying the loan. They are not asking for any new information, just forcing me to jump through more hoops.