Consumer complaint received 2016-03-23
Company: JPMORGAN CHASE & CO.
State: NV
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I have a home that I purchased in XXXX in XXXX, CA. The home was purchased for {$320000.00} dollars with an XXXX first and second mortgages. I was married in XXXX and shared this home with my husband and step-daughters. In late XXXX my husband was XXXX and he could no longer work. Our financial situation worsened due to these circumstances and I began requesting loan modification assistance from the holders of my first and second mortgages ( XXXX XXXX and JP Morgan Chase ( Chase ) respectively ). I was told that could not qualify for a modification as I was current on my monthly payments and because I solely purchased the home my husband 's financial/medical circumstances bore no relevance. I explained I did not want to impact my credit rating by making late payments, I was told there were no other options. In XXXX of XXXX my husband passed away. His passing was extremely difficult as you would imagine, but in addition I was left with close to {$50000.00} in medical debt related to his treatments and {$15000.00} in debt we had incurred together trying to stay afloat during his illness. Unfortunately, the neighborhood my home is in was also changing and I had a few incidences that made me feel unsafe. I again called the holders of my XXXX mortgages requesting a loan modification due to my financial challenges and general life circumstances. I completed the process and was denied. In XXXX XXXX I could no longer manage the emotional strain of living in my home. I moved in with a friend and rented my home to a tenant. The rent received only covered the amount of my first mortgage 's monthly payment yet I continued to pay my second mortgage monthly payments. In XXXX XXXX the tenant stopped paying rent. I contacted the mortgage holders once again and was told since I was no longer living in the home they would not offer me any modification options. I was forced to stop making my mortgage payments and enlisted the help of a realtor to help me pursue a short sale. Since XXXX of XXXX the realtor has obtain XXXX cash offers all of which were denied by the holder of my first mortgage. The lender states that the worth of the property is approximately {$30000.00} more than any offer that has been made and is {$65000.00} more that the value as stated by the XXXX XXXX XXXX. 

These circumstances are distressing, but the reason for my complaint is related to the holder of my second mortgage, Chase. I have had no communication from them since XXXX XXXX despite them having my current contact information. Additionally they have not responded to any correspondence from my loan agent ( assisting with negotiating the short sale ) since beginning the short sale process. The XXXX exception was my request for copy of my year XXXX XXXX form. The did provide me an email copy of this document. Yesterday, XXXX/XXXX/XXXX Chase contacted my loan agent stating they have lifted the lien, but will not allow the debt to be cured by a short sale and that my second mortgage has been converted to a equity line of credit and I must pay their suggested balance of {$30000.00} in full or via payment plan. I never received notice of or gave permission for this debt to be converted from a mortgage and have been working diligently with my loan agent and realtor to work towards a short sale option agreeable to both lenders. I am very concerned at the timing of this communication from Chase to my loan agent as there has been no response to any prior communication. 

It is not my intention to walk away from my financial obligation, but under the circumstances, my repeated, denied requests for assistance and my continued efforts to resolve this financial obligation legally and fairly I do not accept their change the conditions of my loan. 

I thank you for considering my complaint.

Company response to consumer: Closed with explanation