Consumer complaint received 2018-06-06
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I would like to file a complaint against the investor on my home mortgage and servicer XXXX XXXX also known as Chase Mortgage. I refinanced in XX/XX/XXXX from a fixed mortgage with the current adjustable mortgage that I have right now. I was not properly disclosed what type of loan this was when I first got the loan. I found out later on that this phone was only supposed to be for short term investment properties not for residential homes in personal use.

in XX/XX/XXXX I was approved for a loan modification by the investor because the property was worth only {$400000.00} and my loan was XXXX at a time within a week I signed my documents and since then I have been making monthly mortgage payments on time regardless of my hardship. the loan modification that was given to me turn out to be as bad as the loan itself. 

when my loan was modified in XX/XX/XXXX I was not giving any principal reduction any favorable interest rate the only thing that seemed okay was the started rate. I truly believe that the investor gave me a loan modification to make sure I stay at the house take care of it until it built Equity again so they can foreclose on me in the future in capitalized on their investment.

I applied for a loan modification for XX/XX/XXXX after 6 months Asking for the same document multiple times I received a notice the loan modification was denied and the only offer they had for me was short sale. in their document they also encourages you not make monthly payment since you're in loan modification but that is only a tactic to make sure that you get foreclosed on as soon as possible especially if you missed payments. 



In XX/XX/XXXX I applied for loan modification now with a nonprofit organization to send all my documents to chase so I have a third party that is looking at my documents. today is XX/XX/XXXX. Chase Mortgage took almost 11 months to just review two months of bank statements and my one XXXX and the income that I receive on monthly basis for my family while I am struggling with my bills. for each document they asked 10 times or more that they don't have it and I had to refax everything all over again. I truly believe that is another tactic of the bank to make sure that you don't make the monthly payment so you are in foreclosure and you do not qualify for loan modification so it is easy for them to foreclose without any problems for them. 

I have documented all the violation that were done by Chase mortgage and XXXX XXXX my previous loan servicer as an example I will give you a few 1. the loan that I have was only designed for investors not for single-family resident with the teaser rate 2. XXXX XXXX /Chase placed a forced insurance policy on my mortgage without my knowledge and there was a class lawsuit action that was settled for breaking the law and anyone that was a part of the lawsuit action received a settlement and I was not the only victim ( I have all the documents that insurance policy was placed two months before the policy expire for double the price and the market {$2800.00} while the price of the insurance should be no more than {$1300.00} 2.In XX/XX/XXXX not only XXXX did not send me a 60 days notice for the interest rate changes on top of it Chase collected {$1600.00} from me for some type of Advance fees and I did tell the representative I didn't have the money and she said your house will go to foreclosure if you don't pay such face so I had to pay them immediately. again in XX/XX/XXXX I received a letter from Chase including a check only because they were audited and that was a violation and they admitted to making a mistake and collecting the money from me and keeping it in their account. 
I still have that document. 


3. In XX/XX/XXXX again Chase never sent me any notice that my interest rate was going to go high in my monthly mortgage was going to change which is required by law that they must send out a 60 days notice to the homeowner to let them know that their payment will go up. I did not receive such document I only found out that my mortgage went up when I went to chase to make the monthly payment. I have all the paperwork that I will be more than happy to present in court to the judge when we go to court 4. My mortgage file is being audited by an attorney right now and I'm sure he will find other violations in my file that I don't have knowledge of since I'm not the expert on mortgage violation frauds.

5. my health is being affected by the games that are being played by the modification company and they have taken me to a total XXXX and I can not function because of all these problems that chase has caused in my life. I will present everything to the judge and let him make the decision. 

let me clarify I have made mortgage payments on timely manner to chase for the past 10 years regardless of my hardship and I wanted to live like a normal honest citizen and have a roof over my head but in this case Chase would like to court but it is okay for them to have violation because they're hoping that consumers will not protect themself but I am going to protect myself and I will let the court know about all their violation. 


like I clarified to XXXX XXXX XXXX modification before I am not short selling my house that is not an option for me. I also make the mortgage payment because I do not want to destroy my credit but they consist on me not making the payment and destroy my whole life so the investor could capitalize on the loan and make me homeless. I am going to court and I will sue them unless Chase does the right thing in modify my loan as they advertise instead of misleading people and actually taking them to foreclosure.

Company response to consumer: Closed with explanation