Consumer complaint received 2018-08-31
Company: JPMORGAN CHASE & CO.
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
XX/XX/XXXX Chairman XXXX XXXX XXXX Vice Chairman XXXX XXXX XXXX XXXX XXXX XXXX Consumer Financial Protection Bureau XXXX XXXX  XXXX XXXX XXXX, IA XXXX XXXX : XXXX and XXXX XXXX Chase Mortgage Loan No. XXXX To Whom It May Concern : I am writing to you asking for immediate help to stop JPMorganChase from foreclosing on our home. They have refused to modify our loan in spite of continued increases in our income and they have no scheduled a Foreclosure Date of XX/XX/XXXX. 

I need you help to stop / ask Chase to suspend the foreclosure so that I can work out a modification or sell our home in an orderly manner. 

We do not want to resort to legal action and are begging for your help. 

I have included my last letter to the Executive Office of Chase. 

Please help us! 


XX/XX/XXXX SENT VIA : FACSIMILE AND US POSTAL SERVICE XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX JP Morgan Chase XXXX XXXX XXXX XXXX XXXX XXXX XXXX cc : XXXX XXXX, XXXX XXXX XXXX : Loan No. XXXX Request for Mortgage Assistance being filed on XXXX by us Dear XXXX XXXX and XXXX XXXX, We are writing yet again to ask for your help and to please grant us acceptance when we file tomorrow, XX/XX/XXXX, a New Request for Mortgage Assistance and keep our foreclosure at in-active status. Please allow this file to be opened given the significant change in financial circumstances since our last filing in XX/XX/XXXX. 

I was told on a recorded Chase phone line with XXXX XXXX that it does not matter how much money you make it will not change the decision. Besides being rude and inconsiderate on the call which has never happened before with anyone from Chase during this entire situation, XXXX XXXX kept repeating over and over that no matter how much money we make Chase would not modify our loan and that we werent turned down over income. She told us if we reapply the file will just come back to her and it will be rejected. We are trying to understand how Chase could tell us that no matter how much money we make they wont modify our loan. I was also told on a recorded line that Chase no longer has a program where 30 % of the principal due is deferred to a balloon payment due at maturity with the remaining principal balance due in 40-years. I dont understand this particularly because I have it on Chase Letterhead in writing from Chase that this program exists. 

Our file is very long and clear that we have begged Chase to modify our loan and offered in writing to make mortgage payments under a Chase Program offered to us in writing and we simply can not get anyone at Chase to help us or work with us to modify our loan. We have been humble creditors, consistently asking for help, truthful, and now that are lives have recovered from the financial disaster we went through we are once again begging Chase to modify our loan and let us begin making mortgage payments that we can afford under a Chase Program that we have in writing from Chase. 


We are requesting two things with this letter : 1. Immediate Approval to Submit a new Loan Modification Application base on our change in financial circumstances. Both XXXX and I are now making more money ( weve received raises and additional income ) which we thought was a good thing yet Chase tells us making more money wont help us modify our loan? 

We are requesting that all foreclosure attempts continue to be and remain non-active as they are now and that no further action be taken by Chase. 

Lastly, we would like to point out that over the past 4.5 years we have applied for several loan modifications with Chase and been denied every time. Should this process ever wind up in front of a Judge in the court system, we also want to also point out that we have now offered Chase on at least four ( 4 ) occasions, plus this letter, a modification payment under Chases own modification terms and formulas and Chase as yet to accept our offer. 

Counsel has advised us that we could seek judicial intervention especially since we have offered you a modification in writing four times based on your own terms and you have failed to accept it. We are aware that there is a special mediation unit within the court system set up for this but we are trying to resolve this directly with you, our creditor. 

Why cant someone from Chase work with us to directly modify our loan? Chase owns our loan? There are no government restrictions or bank restrictions preventing Chase from modifying our loan? And our loan originated in the financial crisis which means that Chase has either written our loan off or been paid back by the government for it. 

We have never hidden from Chase ; to the contrary we have continually tried over and over to modify our loan. As a member of the 12-Step Program Gamblers Anonymous ( XXXX ) for over 20-years we learn to continually reach out to our creditors and continue to stress our desire to repay our debts and work out a resolution. We simply want to resolve this amicably and responsibly and would request that you read all of the history in our file. In letters dated XX/XX/XXXX ( {$3400.00} ) XX/XX/XXXX ( {$3500.00} ), XX/XX/XXXX ( {$3500.00} ), and XX/XX/XXXX ( {$3100.00} ) and now again in this letter we offered these respective amounts in parenthesis to start a modification. Our income has continued to increase every modification and every year and yet we still get denied. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation