Consumer complaint received 2016-08-18
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
Not a Short sale? 
Background information : I received a letter from Chase mortgage offering to put my payments on hold if I chose to sell my house on XXXX, and they could confirm I had more equity than I owed on the loan. I was informed they could not negotiate until I had missed a payment. After I stop making payments, Chase sent an appraiser to confirm condition and value of the house, and I received a letter confirming that I met the qualifications. After which I received a letter that I had too much equity in the home for a loan modification, and was told they would only accept a deed in lieu or a short sale. I hired a real estate agent and a short sale specialist company to sell the house. I was duly tracked the entire time even when the short sale was approved. The house sold for more than the asking price, and more than I owed on the loan. The amount Chase required in the short sale document was paid from the sale plus an excess amount above what was requested, and all real estate and closing costs. When requesting the actual loan payoff amount, I was told they did n't have to tell me that, or they did n't know. When I asked what if this was n't a short sale and it ended up being paid in full how would the sale proceed. I was given the runaround with no answer, and a letter stating if I did n't agree with any procedures they would simply foreclose. 

Paid in full or? : To date I have not been able to get an answer as to the amount the loan was short to produce a short sale. There was no deficiency XXXX produced from the short sale. The Chase credit reporting department statement is " you paid off your account for less than the full balance as part of a short sale or settlement on XXXX XXXX, XXXX after foreclosure proceedings began but before the sale was completed '' the HUD date was XXXX XXXX XXXX, and the loan did and closed om XXXX XXXX XXXX, so even their statement date is incorrect. The credit reporting companies report the loan as : foreclosed, and short sale at the same time, and the loan currently shows as delinquent for XXXX as well. When disputing with credit reporting companies they tell me Chase confirmed the reporting and nothing can be changed. After four years I have finally been able to remove the misreported foreclosure from the credit reporting companies. 

The 4 year run around : dealing directly with Chase to determine the short sale deficiency amount, I have spoken to Chase customer service and have been been escalated to : loss mitigation ( no documentation found ), short sale department ( no documentation found ), recovery department ( no documentation found ), ending up at mortgage research department, where I was told there is no documentation for the final amount owed during short sale, and no charge off or deficiency amount ever filed. I received an email from Chase research directing me back to Chase recovery for documentation. Even Chase is chasing their tail in a continuous loop. 

It is my belief that this was not in fact a short sale but paid in full and with Chase having no documentation showing differently this should have been removed from my credit report long ago. 
Yet the Chase reporting department insists this is a short sale based on unknown information.

Company response to consumer: Closed with explanation