Consumer complaint received 2020-09-14
Company: JPMORGAN CHASE & CO.
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I am facing foreclosure due to conflicting messages, failure to take action and unethical representations made by Chase agents. I have the means to make a fair mortgage payment on my loan, but their agents tell me that the investor refuses to allow a review of my current financial situation. Two weeks later I get phone calls and letters telling me to apply for help, that I qualify and there is a solution -- -- and when I follow through the same thing happens and the gatekeepers at Chase block me from getting reviewed for assistance. This is unethical and quite possibly illegal -- -I work in XXXX XXXX XXXX XXXX XXXX and this is an avoidable foreclosure if Chase followed through as required. 

I bought this home in XXXX with a loan through Washington Mutual and my wife and I raised our kids here, this home is the center of our universe and all memories. We never refinanced because we never wanted to take out equity or put this asset in jeopardy. As a XXXX  I had a tough time during the recession but always managed to make sure the mortgage was paid on time. In XXXX I was in a very bad position and applied for a loan modification for the first time. Chase approved me for a 2 % interest rate and a 30 year term which definitely helped us at the time. I made this monthly payment as agreed for the next 4 years until I ran into unexpected medical problems in XXXX. I was unable to work and overwhelmed with medical bills and for the first time in 14 years I missed mortgage payments. I reached out to the Chase agents for help but they would spin their wheels and request documents but never actually review them, and I felt as though I was in limbo for several months trying to get assistance. As my health improved and I was able to go back to work, I began trying to contact Chase to resume making payments as well as apply for a loan modification. Their agents told me that I had to make a lump sum payment of the entire past due balance ( which was impossible at the time ). They told me I could apply for a modification so I would take the time to complete all of the paperwork and submit it -- -but after it was reviewed I would be told that the investor was not willing to consider a loan modification?? 

This news crushed me but then I would get repeated phone calls from Chase and letters, telling me that I qualify for assistance and that I need to apply for a loan modification so I can get out of foreclosure. This same cycle has repeated itself several times -- -solicit information, make misrepresentations about assistance options, provide information and then told that we can't help you because the investor ( believe it is XXXX XXXX ) won't offer any options. At the same time I am getting threatening calls and letters from their collections department telling me if I don't wire {$42000.00} tomorrow that they are going to take my house. I try to tell all of these people that I am healthy again and able to resume payments but it is like I am a hamster on a wheel and can't get any traction. 

I thought that Chase and the investor are required to do a review of my current and correct financial circumstances. I thought they were required to consider me for all options, including loan modification, forbearance agreement, recapitalization of arrearages as well as a repayment plan. This is not happening and I am filing this formal complaint against Chase for their unethical foreclosure servicing practices

Company response to consumer: Closed with explanation