Consumer complaint received 2017-05-05
Company: JPMORGAN CHASE & CO.
State: MA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
During ongoing review of my mortgage modification request with   XXXX   XXXX   XXXX   XXXX   XXXX  , on   XXXX   XXXX   XXXX  , I was told by  XXXX  that the owner of my mortgage note is   XXXX   XXXX   XXXX   XXXX    ( the  same company fined by the United States {$120.00}  XXXX  in   XXXX   for violations of the False Claims Act violations ) and that they were party to the modification offer made to me. I reached out to  XXXX  customer service on   XXXX   XXXX   XXXX   to request a copy of my mortgage note and information related to their participation, and was told that  XXXX  's home mortgage business had been sold several years ago and the only way I could reach someone for additional information was by postal mail.     Mortgage modification history with   XXXX   XXXX   XXXX   - acting on behalf of   XXXX   XXXX   XXXX   XXXX   : In   XXXX   XXXX   after being laid off from my job and subsequently experiencing over  six m onths of unemployment, I began the process of exploring options for a loan modification. It was explicitly state d to  XXXX   XXXX   that ou r intent was tokeep our home. This intent was initially met with positive response from  XXXX   XXXX  , committing that they would work with us to reduce our monthly payment. At first, a   XXXX   asse t manager wor ked with me to qualify for a reduced monthly payment during my period of unemployment. We paid our monthly mortgage amount each month according to this agreement. Having regained employment in   XXXX   XXXX   at a pay rate lessthan I was previously making, our continued objective toreduce our monthly mortgage payment and keep our homewas clearly stated throughout the review process with  XXXX   XXXX   andacknowledged by  XXXX  staff. At this point (   XXXX   XXXX    ),  we had submitted all required paperwork and my assigned  XXXX  asset  manager inst ructed me toNOT PAY on our mortgageas a modification was expected to be finalized within 30 days. For the next 3 months representatives of   XXXX   XXXX   began requesting information that we had already submitted in some instances requesting the same information  2, 3 an d 4 times between  XXXX  and   XXXX   XXXX  . We painstakingly resubmitted information including bank statements, tax filings, expense calculations, and much more. Among other odd requests that made it seem as though they were purposefully delaying our modification, we were asked to " create '' a profit and loss statement for personal income only to be told they did n't need it. On more than one occasion, they claimed they could not understand our tax filings s ( whi ch had been accepted by the IRS ) and we and had to put them in touch with our  tax preparer. I   was stunned when  XXXX  informed me on Friday,   XXXX   XXXX   XXXX   (  following8  MONTHSof collecting and analyzing our financial information ) thattheir offer was  toINCREASE our m onthly mortgagepayment by {$380.00}, in the process congratulating me for the approval of our modification and letting me know that foreclosure was an option. After threatening legal action,  XXXX  requested yet additional personal financial information. After reviewing, they came back with an offer to reduce our monthly payment by {$140.00} along with requirements that our loan term be extended, equity be forfeited, and fees and charges related to the modification be added to our mortgage amount, again communicating that foreclosure was an option. This modification offer was received   XXXX   XXXX   XXXX  , 13 MONTHS after initial outreach. On   XXXX   XXXX   XXXX   I initiated a request to Massachusetts   XXXX   XXXX   XXXX   XXXX   's office to investigate   XXXX   XXXX   XXXX   for fraud.     It is more than evident that  XXXX   XXXX   XXXX  turned a hardship situation into an opportunity for them to promote foreclosure to their benefit. The process of delaying this modification, not fulfilling verbal promises, moving staff on and off my account several times, and the overall outcome of the bank making money on the transaction, makes clear that the entire process has been acalculated and fraudulent.

Company response to consumer: Closed with explanation