ED Magedson – Founder
JP Chase Home Finance2210 Enterprise Drive Internet United States of America
I own my home for 15 years, never miss a payment until my job was relocated overseas. 02/08 I contacted WaMu to get assistance. They set me up on a interest only loan. This was not a good option since nothing goes towards my home. Its equal to renting. This was the best WaMu could do for me I took the offer since it reduce my mortgage payment by 60.00 dollars ( I needed all the help I could get)
When the home modification program from President Obama was announced I was hopeful for a modification. This was in 2/09. I met the guidelines even though they changed many times. This was a nightmare. I fax over and over again paper work that was loss by Wamu now merging with Chase.
I made countless phone calls I was given a different story ever time . I had many negotiators some who were very rude. I finally received a letter in August 09 stated that I was accepted into the modification program. I was given a trial payments for three month. After that I would be set up on a modification loan that would be a fixed rate with the new modification guidelines.
On 12/09 I received a loan agreement. after all this, my new loan modification jump 100.00 higher on my payment . Im still on a interest only loan and my loan that was only 113,000 is now adjusted principal balance of 120,072.53. I was furious and called Wamu/Chase their customer service said lady there is nothing you can do this is not non negotiable . You are 6300 dollars behind, I ask how could this be when I only miss 3 payments at 900.00 a month. and made three month of trial payments . Customer service stated those trial payments do not go toward your loan so there fore you are late 6 months. I said that equals to 5400.00 where is the other money from I was told in "fees". Chase is the most crooked company who has scam thousands of homeowners. I will not stop until they are stop, and we the homeowners get a fair deal.
This report was posted on Ripoff Report on 12/12/2009 12:25 AM and is a permanent record located here: http://www.ripoffreport.com/r/JP-Chase-Home-Finance/internet/JP-Chase-Home-Finance-WaMu-Chase-Home-Finance-Fraud-on-modifaction-loan-Internet-538146. 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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