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Report: #105274

Complaint Review: JP Morgan Chase Mortgage - Columbus Ohio

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  • Reported By: Colleyville Texas
  • Author Not Confirmed What's this?
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  • JP Morgan Chase Mortgage 3415 Vision Drive, Columbus, Ohio U.S.A.

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I use to have a Washington Mutual bank account with a Washington Mutual Mortgage that automaticlly made my payments on time every month. When rates went down I refinanced with Chase Bank and then I opened a Chase bank account. The reason for this was for Chase to extract my mortgage payment directly for me on time just like Washington Mutual use to do. Chase Bank for nearly 10 months now has not been able to arrange for this to happen.

My banker has sent the neccessary papers to their corporate office several times but it still hasn't happened. During this time the branch has had to overnight every payment to their own mortgage department to insire I do not have any payment hassle's. In December of 2004 the mortgage department sent me a letter stating that I was late and I needed to send an extra $87.40 with my payment. I called and informed them that my payment is not due till the 17th and also that the branch makes them for me because the automatic payment was being setup. They researched everything I told them and agreed. But here it is August of 2004 and I now show a 1x30 for 12/2003 and my payoff shows I owe a late fee that was deffered.

This is not what they promised and I have letters for Customer Care Specialists and a few letters from my banker. Let me mention that I an an Underwriter for Chase, WAMU, BofA,W.F. and many other companies.

Colleyville, Texas

This report was posted on Ripoff Report on 08/24/2004 11:25 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#4 Consumer Comment

Due dates on mortgages

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

POSTED: Sunday, June 14, 2009

In the mortgage agreement that I have , which is a standard uniform mortgage agreement ( conventional 30 years) it does state that the payment is due on the first of every month. However; there is a section that states that the payment is late after the first up through the end of 15 days from the due date. I assume that this does not mean on the 15th day but the day after, which would be the 16th of the month. There is no mention of any specific time of the day where it becomes late, just through the end of the 15th day. This contradicts the mortgage payment bill I receive every month which states it is late "on" or after the 15th of the month.

I do suggest everyone take out their mortgage notes and read them again. Each note might be worded a bit differently, but basically they all do say the same thing and allow for that 15 day period.

Even though the due date is on the first, Chase bank knows very well that the majority of people with 30 year mortgages will be paying it on the 5th or the 12th of the month or any date up to and including the 15th of the month depending on how you get paid. Even if customers of Chase not pay late all the time, over a period of 30 years it is understood that there should be this so called "grace" period for those so called late payments. That's why it's in the mortgage note to begin with. The banks make money off of you if you are late on your mortgage. Much like they do for credit cards.

Chase bank certainly does understand this as you can see in the site link below:
Note how this reads on their site :
You may choose to make your payment on the due date, or up to nine days after the due date. You enjoy the convenience of making your monthly payments without checks, stamps, or lost mail. Best of all, using our P.A.I.D. service means you never have to worry about late payments.

It does seem a bit contradictory to post that so clearly on their site if this 15 days is just a "Grace Period". It's almost like saying you can pay the payment up to 9 days after the due date and still not really be in default of your mortgage. Just like being a little bit pregnant ?

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#3 Consumer Comment

to t.mays

AUTHOR: Fed Up - (U.S.A.)

POSTED: Saturday, February 14, 2009

you have got to work for chase,ive been handed the same load for months with this company that your spewing forth now.explain this to me t.mays.ive got documented proof that chase cashed my check took the money out of the bank and didnt put any of it on my mortgage payment,which in turn has me on there foreclosure list.5,000 dollars worth of how dare you fire back with stupid responses like that.look at how many complaints this company gets.the american people will win against companies like you

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#2 UPDATE Employee

When is your payment due? Read your loan docs.

AUTHOR: T Mays - (U.S.A.)

POSTED: Friday, February 06, 2009

More than likely your payments are due on the 1st, not the 17th as you stated and there is a grace period of 15 days before you were charged a late fee. Regardless of the grace period, if your payments are not made by the 1st as your loan docs probably state, YOU ARE LATE! The 15 days is merely a courtesy for you to use in the situation mail time is slow, or other issues not immediately within your control. You signed the loan docs and you should be proactive and live up to your obligations assuring the payments are made by the first of the month, not the 17th.

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#1 Author of original report

I mentioned December 2004 instead of 2003

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

POSTED: Tuesday, August 24, 2004

In my original complaint I mentioned that Chase sent me a late notice 5 days before my payment is actually due but I listed December of 2004 when in fact it should have said December of 2003.

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