Consumer complaint received 2019-02-15
Company: JPMORGAN CHASE & CO.
State: NJ
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Struggling to pay mortgage

Complaint:
The first issue is that Chase Bank initiated a foreclosure action in XX/XX/XXXX on our property claiming we were behind in payments when we were not. They literally claim we missed payments beginning with XX/XX/XXXX when our records clearly show we did not miss that payment, or any other in XXXX. We are attaching copies of the Intent to Foreclose letters from XX/XX/XXXX and XX/XX/XXXX ; Chases own accounting ; our bank statements for the entire year of XXXX which will bear out that we paid the full mortgage amount each and every month since the modification we took in XXXX. We also attach a spreadsheet and a letter from an accountant we hired to go through XXXX accounting. We also attach the Amount Due Schedule dated XX/XX/XXXX that states that between XX/XX/XXXX and XX/XX/XXXX there were {$0.00} late charges. 
Chase proceeded to pursue us falsely even after repeated calls and letters arguing that we were not behind in payments. They stopped accepting payments because of the foreclosure action. The foreclosure mill they hired, XXXX Such, never returned phone calls or responded to letters that disputed that we owed back mortgage payments. 
The second issue is that they suddenly produced a lost note affidavit because they did not have a note that matched the one we have. ( We have attached the 2 lost note affidavits ; and the 4 versions of the note. ) This lost note affidavit is simply a piece of paper that says they looked in the vault, but it was no longer there. It does not follow protocol and is not valid. It has no documentation or the surety bond information that is required. Repeated requests for the bond that indemnifies the lost note went unanswered by Chase Bank and their attorneys. Anyone acquainted at all with lost note affidavits would see that this document does not meet even minimal underwriting requirements. There is not description of what happened to the original, including any steps taken to find the note, and, if the note was destroyed, the circumstances of that event. There are not details of payment terms, type of note, the amount paid and what remains unpaid under the note. There is no statement that the note was sold or transferred to a third party nor is there confirmation that there is no other party that has an interest or can claim any money under the note. There is no statement that both parties are in agreement that the note exists and it is a valid debt that the borrower owes the holder. There is no surety bond as required. 
There is no copy of the original note, as required, because there are 4 versions of this note. One note has XXXX, NJ as the location of closing, and has an endorsement, and has a crossed out correction of XXXX XXXX name with an initial. A second note has XXXX, NJ as the closing location, no endorsement, and a crossed out correction of XXXX XXXX name with no initials. 
A third note has XXXX XXXX, NJ as the closing location, no endorsement, and a crossed out correction of XXXX XXXX name with no initial. The forth note has XXXX XXXX, NJ as the closing location, with a stamped True Copy, XXXX XXXX, XXXX. at the top. There is no endorsement, and there is a crossed out correction of XXXX XXXX name with no initial. We all know there can only be ONE note. 
Given all of this, there is no way any bonding company would take the risk of indemnifying this lost note. I dont believe Chase Bank even tried to secure a bond for this fake document given the 4 different notes. And of course, Chase would not provide further information to us no matter how many times we asked. All of the information I have outlined above, along with a surety bond, would be required if the lost note was authentic. 
On top of that, during this foreclosure action we were subjected to a XXXX hour deposition for a foreclosure case, which is unheard of. We are still being hounded by attorneys and real estate agents because the foreclosure, although wrongful, was made public. Chase prevailed in court with the phony lost note and multiple notes due to a terrible judge who clearly had a personal preconceived prejudice against homeowners. He was not interested in anything we had to say, while he aided Chases attorney. He listened respectfully to the lawyer while hollering at us for any statements in our defense. 
We were so desperate not to lose our home that we agreed to the option of applying for a modification with Chase. They stalled the process by constantly claiming we needed documents that we had already handed in, and had to resend. They would call after a few weeks and ask for the same documents, and repeat this until it took over a year and they were sure any equity was drained from the property. Looking back, they had no intention of ever giving us a modification it was a cruel way to give us hope and keep us busy while we lost all the equity in our home. We went through this process for a year and a half and finally gave up when they told us we didnt qualify. Why didnt they say that at the beginning of the process? 
Chase Bank set out to initiate a wrongful foreclosure thinking we would never eventually read all the documents and discover the fraud. We are so disheartened that we did not realize foreclosure law and that Chases actions and the documentation did not have any legal foundation.

Company response to consumer: Closed with explanation