OHIO -- As the Seller I have been treated horrible, and after 67 days our home still has not closed and we still have no closing date. Working with Chase Mortgage has been a nightmare. Our pre-qualified buyer and I decided to use Chase Mortgage Banking since we're both Chase customers. However, if we had known in advance of the incompetence, inexperience, lack of professionalism and continuous resubmission of documents, we would not have used Chase to close my home.
Every time I tried to personally get information from the lender he said I had to ask the buyer, because he couldn't give me information for privacy reasons. Since when can't a lender give the Seller information regarding the buyer's documents status and the closing updates on Seller's home?
History: I put my home on the market December 8, 2017. The buyer and I signed the contract December 30, 2017. January 2, 2018 Rex ** of Chase Mortgage received our contract and said everything looked great and we should be able to close in 35 days or by February 9, 2018. The appraiser came on January 12, 2018 and we renegotiated the price based on the appraiser's low estimate (that is another complaint), with an addendum to our contract.
The new addendum was signed and submitted to Chase on January 21, 2018. By the way, per the original contract the approval letter should have been submitted within 5 business days. That didn't happen. Our buyer received her approval letter via mail on February 23, 2018.
Complaint: On February 6, 2018 when I complained to Rex **, Home Lending Advisor about the lack of communication on updates, changes, documents, closing and response to questions asked, he said not to speak with him and to solely communicate with our “first time” home buyer for information and feedback in the future. Chase lending has not been responsive to me, the buyer or the Attorney's office with updates or the closing status. After 67 days, no one knows what is going on. Is this how Chase Mortgage trains their lending staff to treat “valued” mortgage customers, or is this treatment reserved for Blacks and Hispanics?
After selling three homes, Chase lending has been the absolute worst experience. The treatment throughout this process is unacceptable. Every promise Chase Mortgage has made has been broken, without apology. HORRIBLE Mortgage to use. DO NOT torture yourself through the living hell of using Chase Mortgage Lending.
TEXAS -- In 2015 I did a home loan modification and received paperwork regarding it. In March 2017, I decided to look at selling my home. I called Chase and asked them for my payoff amount including the modification amount because I knew it existed. They mailed me the payoff. I meet with my realtor who asked me to confirm my payoff to ensure that I would not have any legal issues. I again call to ask Chase about my payoff. They again tell me it is "x" amount. I insist that they look again because I know there was an additional amount after the first amount was paid off that had to be paid. I'm told "NO", that amount doesn't exist, it was interest and no longer has to be paid.
I asked to confirm and they told me there was no other amount. I explained again that I needed a correct payoff because I didn't want legal issues later. I was told not to worry about it. I asked for a copy of the recorded conversation and was told I couldn't get one but they would have it on file. My home is still pending and everything is going good until the Title Company starts working on the documents for closing and a second mortgage shows up. I call Chase 2 additional times regarding this and am told there is only 1 mortgage loan.
The title company calls and is told the same thing, only 1 mortgage loan. They ask for it in writing and she faxes Chase the paperwork. Chase sends back the paperwork including a second mortgage that they said didn't exist.
I call them regarding it and am told that they are sorry they overlooked it. Four different times I called and they overlooked $31k. Even when I insisted I knew that amount existed I was told it was wiped clean because of the type of modification I did.
Chase Mortgage sucks and they don't want to do anything about their mistake because I signed a paper. Yes I signed a paper to modify my loan but I called 4 times regarding my payoff and advised them of that amount and still it's my fault. I DON'T THINK SO!!!
Chase sold my mortgage to a company that most people have never heard of and Chase did it after my home was flooded by Harvey. I went to Chase right after my home was flooded. Chase assured me they would work with me. Chase knew that I was going to try again to get home refinanced through them. I had tried earlier but the transaction was canceled because Chase did not get paperwork through in time so my money was refunded. I was going to try again once my home was back the way it was before flood.
Chase decided to sell my mortgage and the only way I found out was when I went back to Chase to ask them about my mortgage and if they could extend it further out like most mortgages were doing as I still have ongoing repairs. That's when I found out my mortgage had been sold and that Chase wanted the past months of mortgage paid now in two payments. If you currently have Chase as your mortgage lender be aware that if your home is ever severely damaged, they will more than likely sell your mortgage. If you are looking for a mortgage lender, I would advise someone other than Chase.
This is a copy of a letter I mailed to Chase Bank CEO. I am sure he will place it in the round file by his desk and I will never hear back but I want all to know of the bad treatment and shady practices that Chase does.
I do hope that you or the person that you pass this letter off to actually cares about your customers. From the treatment and experiences I have had with representatives of your company I don't believe that anyone there does care about the customer only how much money you can make off that person.
We purchased our home in 2008 as a new build from a builder. In January of that year we had a very good interest rate “locked in”. About three months later we were told that the interest rates had changed and so we no longer had that “locked in” rate. We did not like this but already had too much invested in the home to back out.
We have tried several times in the last 2 years to refinance our home with outside companies as well as with Chase. We have checked many times and we do qualify for every government program that the banks are supposed to have accepted to work for customers in return for the T. A.R. P. funds that they received. We have been rejected on every avenue we have taken with your bank. One representative even had the nerve to tell us to “not make your payments for 6 months then we will refinance your loan”. What the hell kind of advice and treatment is that coming from your representatives?
In July of this year we sent in all the documentation necessary to have our loan modified through the modification program. It seemed that every week we were told that we were missing documents that were sent in or that a certain page wasn't signed (all pages were signed that needed to be). Your company kept losing documents and finding very ridiculous reasons that kept delaying the process.
Now in September we received a letter notifying us that our loan has been sold to another lender. How convenient for Chase. This is too much of a coincidence that our loan is sold during our attempts to have our loan modified so that we can afford to pay our mortgage. Our mortgage went up, by the way, due to Chase grossly mismanaging the escrow account and got us behind on our property taxes and now we have to pay extra to catch those up. I wish that banks were held legally and financially responsible for mismanaging accounts. Your company should pay the bill for your screw up not the customer.
When we first received the letter of our loan being sold, I called and received the worst treatment I have ever received from any company. The representative would not give me her name, kept interrupting me and talking over me while I was speaking, and even had the nerve to place me on hold because she did not want to hear what I had to say.
I asked for a manager and she refused to connect me to one. She said that she would email her manager and he would call me back (which he has never done and it has been over a week now). She told me that my call was not a “manager” call. I told her she does not have the right to make that decision. I let her know that if I, the customer, state it needs to be handled by a manager then it has become a manager call.
I now called back and after several days of no one returning my calls finally got a hold of ** in the modification department. He told me that our modification has been denied and tried to give me some bogus reasons that have to do with I or my wife losing our income for one reason or another such as death, being laid off, having to leave work to tend to a family members bad health etc..
I do not believe it when he or any other representative states that our modification was not approved because of the loan being sold. I don't believe it at all. The facts are we requested modification, Chase kept delaying the process by repeatedly ‘losing' documents, we receive notification of loan being sold dated September 13th; ** told me that the modification was denied on September 17th.
I have been told by ** and the very rude person that has no name, that Chase doesn't make the decision on the modification. I have been told that is done by Fannie Mae, the investor. I know this is a bold faced lie. Fannie Mae is not a loan investor they are merely a guarantor of the loan. They do not care if the loan is modified or not because it does not affect their bottom line. Chase is (was) the owner of the loan and has (had) all say in the decisions of that loan.
The facts speak loud and clear for themselves. Chase sold our mortgage to another lender to avoid having to modify our loan.
As of October 1st, our loan will be handled by another lender. I know that we will have to go through refinance and modification requests all over again. I hope that they care more about their customers than you do. When customers are treated the way that we have been in our situation or similar ones, it is no wonder that many people just give the home back to the bank. They are treated rudely and are not given any assistance when it is desperately needed because of the greed of the bank. But I guess you need to get your money to pay your rent on Park Avenue somehow.
P.S. I signed it from the mortgage number because that is all your customers are to you, a number.
I have been a Chase Home Finance mortgagee since September, 2003 a period of almost 10 years. In that time each and every payment was made on time.. In 2005, due to medical expenses that were not covered by insurance, I was forced to declare bankruptcy. During the bankruptcy period all mortgage payments were still made on time. I am 73 and unable to work. My wife is 67 and still employed because we cannot survive without her income.
The crux of the problem with Chase is that I made a mistake in a payment in January, 2007. I paid the amount of $611.96 rather than the amount of $877.96 that was actually due. This problem is that Chase did not notify me for 31 consecutive months that they were charging me a late fee of $23.51 for each and every month since 1/12/07 and that a total of $728.81 in late fees was due at that point. The amount has since grown to over $1,000.00.
Chase claims that, because of my earlier bankruptcy, they would only send Monthly Statements if I submitted a written request. However, the fact is that I did continue to receive Monthly Statements for each and every month, even without making a written request. These Statements, of course, led me to believe that I was current with all monies due Chase.
If Chase had held true to their policy of not sending Monthly Statements without a written request, I would have been forced to contact them, at which point the fees that they were charging me would likely have come to light. It should not fall on me to pay for Chase's failure to follow their own policies.
I believe Chase had an ethical and legal obligation to include any and all fees and balances on the statements that they were sending. Please note that bankruptcy laws did not prevent Chase from continuing to send Monthly
Statements and to accept mortgage payments for 31 consecutive months before notifying me that they were accruing fees against my account. It is especially notable that Chase did not ask for the loan to be reaffirmed at
any time during or after the bankruptcy process. Lastly, it is unconscionable for a business the size of Chase to ambush its small customers in this manner.
I have taken the matter to the Office Of Financial Regulation. As it turns out, they have no authority and can do nothing to correct an abuse by any bank. They appear to be there simply to listen.
Between the bank bailouts and shenanigans such as this, it is little wonder that people hold bankers in such low esteem. I intend to ask my representatives to introduce a bill in both the Senate and the House to prohibit practices such as these. It is patently unfair to attack a customer in a manner such as this. It is also very insulting to be repeatedly hung up on by Chase employees who are obviously unqualified or untrained in customer service.
It has been a lengthy and frustrating battle to attempt to right a wrong, but it appears that the battle is lost. Thank you for reading my complaint.
COLUMBUS, OHIO -- By applying for a Chase home loan modification or forbearance, they have turned around and hurt me financially even more! I have been trying to get a mortgage modification through Lake County, Ohio Fair Housing for nine months. What a vicious joke Chase played. The latest hit was a letter I just received from Chase that they are freezing my line of credit on my house (I didn't know I had one) because they learned that I was in financial difficulty!
I am just trying to finish school so I qualify for a job! WARNING: by applying for a modification or forbearance, Chase has turned around and hurt LOTS of people financially even more!!! They froze this line of credit weeks before they mailed this letter informing me!!!
My house is not worth less than when they financed it. They even re-appraised it during my attempted modification. So, how can they justify cutting off a credit line when the loan is secured - when I have never missed a payment! Could an even bigger profit motive be involved?
As an over fifty-seven year old displaced (unexpectedly divorced) homemaker, I was getting a grant from Ohio. That got canceled during the financial meltdown. Because I knew I would be facing economic hardship before my degree completion, I sought help for which I was qualified.
When I first got my Chase mortgage, I was assured it was a standard 30-year mortgage, but a "hybrid." Then, I learned from Fair Housing that Chase says it is an equity line of credit. That, according to what Chase told Fair Housing, disqualified me from a "forbearance" while I try to finish my degree. A couple weeks ago, they informed Fair Housing that they are not looking at "first mortgages" until late April. Why didn't they say that nine months ago?
When I applied, I was working many more hours. When they forced me to resubmit all financial data for different three month periods, I was working less and was denied modification on the grounds that I could not afford my mortgage! (This is a repeating cycle with them - all the while, my financial status deteriorates.) I have an on-campus student worker job - and campuses have numerous non-paid closed days! I am restricted by law to working a maximum of 25 hours a week during the spring and fall semesters! And, without an Associate's Degree, I cannot become a preschool teacher in Ohio!
I have been doubly screwed by Chase! I quit jumping through hoops to submit more documents, since I had figured out that they would never be satisfied - so they slapped this credit freeze on. Now, my credit is damaged! Thanks for nothing but stress and financial distress, Chase mortgage folks.
By the way, I am not the only one angry with you. Have you googled yourselves lately? It appears that your generous offer to modify loans may have been nothing more than a ploy to bleed your customers bone-dry before you foreclose.
I have written President Obama and all my state politicians. I am hoping to attach my name to a class-action suit. And, thanks for the toll-free number I can used to request a reconsideration if my financial status changes. The thought of dealing with you just warms my heart - NOT!
Thanks (truly) to a supportive family and supplemental work - I will not fail to make my monthly mortgage payments, even at the current interest rate. Unless, of course, you find other ways to harm me as others have reported - not crediting payments, throwing whole payments into escrow and filing foreclosure for non-payment on loan, setting up three months of trial payments, not applying them to the mortgages, demanding lump sums, then not approving the modified loan agreements, etc. Really. This is some bad business.
FLORIDA -- I arrived at my condo in Florida and discovered that the locks had been changed and I was locked out. After I was able to get in, I discovered a notice that my mortgage company had requested that my locks be changed. The notice was from LPS Field Services (440) 633-4201. I called my mortgage company (Wells Fargo) and they had not ordered any such change. I am current on my mortgage payments.
Called LPS and they told me that Chase had ordered the change. Chase does not have my mortgage nor did they ever have a mortgage on this property. Yet they changed the locks. After a series of phone calls, I have new locks but without a satisfactory explanation of how or why this happened. They drilled my old locks off and came into my condo.
MIAMI, FLORIDA -- I have been making my payments on time for 10 years. My mortgage went from $112K to $55K on a house with a market value of at least $250k. Due to change in financial circumstances I can no longer afford the homeowners insurance not at 5-6k per year. So I cancelled it. Chase has not purchased for me added fees of over $2,000.00 for the previous year (already gone with no claims) and this year totalling $10,000.00. I am living pay check to pay check still paying my mortgage on time. I need help and fast. Chase will not listen to reason or help me in any way. If anyone knows who can help me, please email me **.
My wife and I were tricked into a foreclosure status by a chase Manhattan employee in customer service. My wife had broken her back in two places and both of us were out of work. For eleven months, we spent our savings, our 401's and our rolls of pennies to make the mortgage payment on time. In seven years, we had never been late or missed a payment.
We knew we were headed into hard times so we called Chase to ask for refinancing..... We were told "We cannot help you until you are three months in arrears.... don't make the next three payments and then call us." That was precisely what we did and this time, the voice on the other end of the phone said, "We CANNOT and WILL NOT help you because you are three months in arrears...it is our new policy."
Now we are in our sixties and we cannot buy a home because Chase has screwed up our credit. We are living in an old single wide trailer even though our combined income is in excess of 70K per year.... money and no credit equals crapola! Is there anyone out there who would like to join in on a class action suit against Chase?
I sent Chase a final payment for our mortgage. The payment covered over 4 months worth of funds including principal and interest. We sent a letter with the payment indicating we were paying off the loan and asked for confirmation that the loan was indeed paid off. We received a normal monthly statement but it showed only one month's worth of our funds were applied against the loan. The remaining funds were placed in an unapplied status--no other information given.
I called the customer service number and got a terse agent. He informed me that they had fees that I hadn't paid for reconveyance and recording at our local county. We didn't know about this and told him "Chase never told us about it." He said it was our responsibility to call them and find out about the additional fees. I asked why they didn't apply the full amount of our funds to the loan and he said they wouldn't until I paid for the fees and oh by the way they would be charging me interest on the unapplied funds for every day they waited for the next check. So we are paying interest on our money they have already.