Consumer complaint received 2016-06-06
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
Chase has recently threatened to foreclose on my home and Chase subsequently acknowledged that it had made a mistake. However, Chase has not retracted or rescinded Chase 's foreclosure threat. 
I received a letter from Chase dated XXXX/XXXX/XXXX ( see attached : Notice to Foreclose ). In paragraph XXXX on page XXXX of this letter, Chase states that I owe total monthly payments of {$6500.00}, plus late fees of {$360.00}. The total of these XXXX amounts is {$6500.00}. In paragraph XXXX on page XXXX of this letter, Chase states that I " ... must pay the total amount set forth in paragraph XXXX within 35 days from the date of this letter in order to cure this default. '' In paragraph XXXX on page XXXX, Chase states that if I " ... fail to cure the default within 35 days from the date of this notice, Chase may ... .. commence foreclosure proceedings and sell the property. '' On XXXX/XXXX/XXXX, Chase sent me another letter ( see attached : Error on Your Account ). In paragraph XXXX ( captioned " Current Loan Status '' ) on page XXXX of this letter, Chase states " the amount that is required to complete the XXXX XXXX, XXXX payment is {$370.00}. This amount is determined by taking your current escrow payment of {$450.00} and subtracting what you have paid over the past four months, {$350.00}, yielding {$94.00}. This amount, multiplied by XXXX, total {$370.00}. '' Notwithstanding Chase 's letter of XXXX/XXXX/XXXX wherein Chase states that I owe a total of {$370.00}, Chase has neither retracted nor rescinded its Notice to Foreclose of XXXX/XXXX/XXXX wherein Chase required that I pay {$6500.00} within 35 days and wherein Chase stated that Chase may foreclose if I do n't pay. 
I demand that Chase immediately retract and rescind its Notice of Intent to Foreclose on my property ( XXXX XXXX XXXX XXXX, CA XXXX. 
Additionally, as consideration for Chase admittedly and wrongfully threatening to foreclose on my home ( see page XXXX of the XXXX/XXXX/XXXX letter captioned " We Corrected Our Mistake '' ), I demand that Chase apply the amount of principal ( {$2700.00} ) and interest ( {$1700.00} ) which Chase has agreed to waive toward my future, monthly {$600.00} principal and interest payments. {$2700.00} ( principal ) plus {$1700.00} ( interest ) / {$600.00} ( monthly P & I payment ) = XXXX monthly P & I payments. Therefore, starting with the XXXX XXXX, 2016 monthly {$600.00} P & I payment, I demand that such monthly payments be suspended until XXXX/XXXX/XXXX, at which time monthly {$600.00} P & I payments shall resume. Monthly interest may continue to accrue at the prevailing interest rate and would be deferred to the end of the loan. I will continue to pay the monthly escrow amount. 
Furthermore, I object to Chase filing a XXXX for waiving {$2700.00} in principal. My personal liability for such principal was eliminated as result of my bankruptcy discharge in XXXX. Moreover, there is no equity in the property as the total secured liens against the property substantially exceed the property 's market value. Additionally, I dispute that the amounts that Chase has agreed to waive as outlined in Chase 's XXXX/XXXX/XXXX letter were ever owed by me in the first place. 
Accordingly, Chase 's filing of a XXXX is intended to be malicious and punitive. Therefore, I demand that Chase cease and desist from filing a XXXX as to the aforementioned waiver of principal. 
I also demand that Chase provide me with the current balance of my escrow account and confirm whether Chase has been paying, and whether Chase intends to remit future escrow funds for, hazard insurance on the subject property.

Company response to consumer: Closed with explanation