Consumer complaint received 2023-10-19
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
Sub-issue: Trying to communicate with the company to fix an issue with the application process

Complaint:
My mother passed XXXX  and left her condo to me. Her lawyer put the deed in my name and then placed it in MY trust name within days. I contacted Chase who my mother had roughly {$50000.00} left to pay on the loan. The condo was very important to my mother and she LOVED it, so I immediately wanted to keep it for the next couple of years. I had my son move into the condo while in school and working. I've paid the bills prior to my mothers death, and continue to pay so nothing is delinquent. I requested that they put the loan in my name and sent them all the requested documents. They claim to have never received them, via mail. So, I faxed the documents and at the same time they asked me to apply for the loan. They took their time as interest rates continued to increase. I applied, showing over {>= $1,000,000} in brokerage accounts. I was denied the loan. They asked my husband to apply and he was also denied. Of course, I was laid off of work ( same company 38 years ) in XXXX prior to moms death. I was okay with that as I was taking care of her as she was deteriorating. I continued to ask for updates and as stated earlier, was denied a loan. I explained to them at that time my husband was working and we should have plenty of income and assets to cover the loan. I explained to them at that time that I had a XXXX that was a lemon and I was carrying the cost of 2 cars until the process was complete. Which it did and XXXX returned all the monies on the loan. Unfortunately, my husband XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. I asked prior to his injury and departure from work if they would keep the loan in the " Estate '' of my moms, and put the payment into autopay. They have accepted my autopay since the beginning. Next, they requested proof of insurance which I sent the condo association insurance, my policy and the umbrella coverage I already had. They indicated they didn't receive it. After escalating the issue, I was told that they didn't recognize my name because the insurance policy should be in my mothers name, who passed. So now they are asking me to complete a Successor of Interest packet, which I did, and faxed through their bank. Of course, they rejected my birth certificate, the one I used for my passport and to buy my current home. They are also asking me for the trust again, since they claim to have never received it. TODAY ( XXXX ), I received a call from Chase ; Life Events Supervisor stating that because the name on the insurance policy is mine and not my dead mothers name, they can't accept it. She suggested that I REMOVE my husband from the deed on the property to state only my name. Can you imagine? If something were to happen to me, they want to keep the property. The stress I feel is killing me, not only to have lost my mother and my job in the same year, but to have a large bank like Chase who is asking me to remove MY trust name from the property deed, so that they can accept my insurance. And, they have no regard for the fact that I lost my mother and have had to deal with stressful calls over 20 times in the past YEAR. I jump as soon as they ask for something, only to be put on hold and receive a letter later stating no. Interest rates have gone up substantially and I'm no where close to getting this taken care of. Please help! As I told Chase, I'm okay leaving it in the Estate of XXXX XXXX, but sending the bill to me, at the 3.875 % interest rate. I've also paid the increased property taxes as I do not live full time at the condo, but my son does who was living with me at the time of moms death.

I was so upset when they rejected my request for a {$50000.00} loan, that I ripped up the rejection letter in frustration.

Company response to consumer: Closed with explanation