Consumer complaint received 2017-02-10
Company: JPMORGAN CHASE & CO.
State: MI
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
A foreclosure on my property started in XXXX by Chase They first denied me, and then they ended up giving me a modification, with a payment that was very doable, only to find out that there would be a balloon payment due in XXXX of XXXX of approx. XXXX, which is unheard of - even the loan mod. rep. was surprised they gave me the modification. She said they should not have given me the modification with such a short term before the balloon payment. I made the first few payments, and then I put the house on the market and moved out in XXXX of XXXX. I did not get any offers that would satisfy the debt so the real estate agent started a short sale in XX/XX/XXXX. of XXXX. In XXXX of XXXX she essentially gave up and the buyers wanted out as well. I was moving to California in XXXX XXXX, XXXX, so I agreed to let them out of the deal, and I called the mortgage company ( Chase ). I told them I wanted to just give the property to them, possibly do a cash for keys. The rep. told me I had to 8 weeks from XXXX/XXXX/XXXX and them ask to have the debt discharged and possibly arrange a cash for keys. I waited the 8 weeks, but when I called they had sold the mortgage to SPS. The SPS real estate agent then called me and told me to turn the water back on and she was going to get it on the market and not to worry she had experience with short sales and would get the job done quickly. She got some offers, I accepted XXXX - again it was going to be a short sale. She told me it would be closed before XXXX. It was not. We had a freeze, the pipes burst, water was pouring out the front door for I do n't know how long. Ceilings caved, floors buckled, mold started forming. Nobody called me, they called the agent - who did not respond for a few days. In the meantime, the City came and turned the water off, but it had been some time. I only found out after my daughter went to visit a neighbor that this happened. Still the agent told me not to worry. The buyer would just put in another offer for a lower amount due to the damage, and we could still move forward, and if that did not work out she said she knew someone that wanted to buy it as is and flip it. About XXXX2 weeks later I found out it was condemned - again through a neighbor that happened to talk to my daughter. The agent still persisted. It is now set to be demolished by the City of XXXX. I have 10 days to respond and get a hearing date at my expense or it will be demolished at my expense. 

I told Chase and XXXX several times along the way I could not afford to take care of it, but they said they could not do anything else but move forward with the short sale. I begged them to take it from me - the rep. did not want to listen to anything I had to say. At XXXX point, the loan docs sat on someones desk ( in XXXX XXXX ) for about 45 days with no action until I started bugging them and the real estate agent. 

I have not made a payment for over two years! I do not understand why this is still my property. I could not afford to keep it, and I certainly can not afford legal counsel or the cost of demolition ...

Company response to consumer: Closed with explanation