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  • Report: #552772

Complaint Review: Chase Home Mortgage

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  • Submitted: Mon, January 11, 2010
  • Updated: Sun, September 23, 2012

  • Reported By: lisabielawski — selden New York United States of America
Chase Home Mortgage
PO Box 78420 Phoenix, Arizona United States of America

Chase Home Mortgage No Hope for Homeowners with Chase Phoenix, Arizona

*Consumer Comment: All BANKS and Mortgage Companies are CROOKED!!!!!!!!!!!!!!!!!!!

*Consumer Comment: Consumer Suggestion

*General Comment: Mortgage MOD's

*UPDATE Employee: Rip off in Pheonix

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I have been either a science teacher or school administrator for the past 10 years. In June I received notice that my position was being abolished due to budget cuts. We have our mortgage with Chase. Simultaneously Chase added 500.00 to our current mortgage payment (  paid regularly for 1.5 years) stating they "noticed" a deficit in escrow? No explanation..no prior notice..so our payment increased from 3,464 to 3,964 the same month I lost my position. Thankfully my husband still has his position, however, on Long Island, dropping to one income with three kids in college left us unable to make the regular payment, let alone the increased payment. We started the loan modification process in July and were notified our three trial payments would be close to what the reduced payment would be once approved for final modification 2,800. The 3 mos turned into 7 mos. During this time I am still unemployed and receive the maximum 405.00 weekly in unemployment. We faxed and resubmitted the same documents time and again. Every month we received late statements with no record, other than my bank statements, showing the reduced payments made monthly. Finally we receive the fedex with the final paperwork. I will not waste time including the hours and hours on hold, talking to representatives that had conflicting stories on the same day, and the emotional and physical  impact this has had on our lives. I see we have all experienced the same incompetence and lack of decency provided by Chase. I open the FEDEX with trembling hands, tears of joy streaming down my face....yes the 2800.00 monthly will continue to be a struggle but we can remain in our home right??????


Chase added over 21,000 to our principal increasing it from 354,000 to over 370,000, our monthly payment ongoing will be over 3,400 a month. 67.00 a month less than when we started this whole process. Mind you, it arrived stating I have 12 days to sign and return. I left 27 messages for the loan negotiator. Not one returned. I spoke to 9 chase employess in the loss mitigation office before one connected me to the negotiators supervisor voice mail. I left 6 messages with him without response. Finally another Chase representative emailed the loan negotiator internally and her supervisor. The negotiator finally called me. When I questioned her figures... we were given a drop in interest rate from 6.75% to 4.75% and yet the monthly payments will only be $67.00 less? She stated that we have a balance of 39,000 dollars due and that was the best they could do for us. When I got up off the floor...I asked her how we had a 39,000 past due amount when we have been making the required payments and had not been late at the onset of this process, she could not answer. 3 days and a nervous break down later,I contacted the executive office for Chase today at 3:00 PM EST. By 3:45 the negotiator called me and said that even though she knew nothing would change..she would have her supervisor( the one who did not return over 16 voice mail messages from me prior) look over  the account!!!  I have 2days left to sign and return this modification before the whole thing expires. What Chase is doing to loyal, hard working and honest customers is criminal!!




This report was posted on Ripoff Report on 01/11/2010 06:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/Chase-Home-Mortgage/Phoenix-Arizona-85062-8420/Chase-Home-Mortgage-No-Hope-for-Homeowners-with-Chase-Phoenix-Arizona-552772. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

All BANKS and Mortgage Companies are CROOKED!!!!!!!!!!!!!!!!!!!

AUTHOR: Annoymous - (U.S.A.)

All the banks are CRIMINAL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!   Fight as hard as you can and ask for a loan modification.  Don't pay them a DIME up front.  You will have to let your credit go bad but start saving your money and start looking for a back up plan.  Pretty soon everybody is going to REVOLT against paying their mortgage.  The banks are then going to kiss ASS so they can keep customers and they will be forced to modify everybody's loans which is what they will do in the first place  CAll me if you have any questions.  Thanks,Dion (((REDACTGED)))  If all the banks would just modify everybody's loan and treat everybody equally then we would all want to pay our mortgages again.  Who wants to pay a mortgage when there is no financial reward in return.  HOme values will not go up for another 10-15 years so have a back up plan.  I am big on back up plans and I wouldn't trust these mortgage companies if they gave me a million dollars to trust them.  They are all very crooked!!!!!!!!!!!!!!!!!!!


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#2 Consumer Comment

Consumer Suggestion

AUTHOR: Angela V - (USA)

I just wanted to let you know if you have any spare time as I know dealing with CHASE is a fulltime job..go to loansafe.org.  There are thousands of us with your story and it is a great place to get information.  Good Luck. 

 

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#3 General Comment

Mortgage MOD's

AUTHOR: Clomc - (U.S.A.)

Please understand this.

Just because a company modifies your payment, doesn't mean you get away from the debt you owe.

If your payment is dropped by $1000, do you think that $1000 just goes away?  It would be stupid to think so.

Also, that money that you don't pay on a monthly basis get interest charged onto it.

Also, the MOD payment is not the full payment so late fees can be charged.

When a company MOD's your payment it's to keep you in the home; and it won't be on your terms, it will be on theirs.

 

 

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#4 UPDATE Employee

Rip off in Pheonix

AUTHOR: clay - (United States of America)

As a Chase employee, I encounter situations like this everyday. I work in the

modification department and It's sad I see this everyday, good customers getting

treated like this and yes I agree it's unfair.

You have every right to be angry and upset. I would suggest to

possibly get a lawyer, take your situation to the media and report Chase to the OCC

Office of the Comptroller of the Currency. They regulate the practices of all national

banks. I hope this helps.

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