Consumer complaint received 2016-04-12
Company: JPMORGAN CHASE & CO.
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
My family and I have lived in the XXXX, 32 years, we purchased our home in 2009 and we are deeply imbedded in our community. I 'm a XXXX I dedicate my XXXX for the last 28 years. We love where we live and are looking forward to spending the rest of our lives in our home, but we are in a situation where we are the ones that needs help to ensure that we can keep our house. 

JP Morgan Chase Bank is the loan servicer on our FHA home mortgage loan, but their representatives are effectively ensuring that our home is lost to foreclosure. I have had a series of physical, financial and emotional hardships that have lead us to become delinquent on our mortgage payments. However, when we called in for assistance, we were harassed by the representative who asked for me to make our full reinstatement. They have completely shut the door on us and have rushed our loan into foreclosure, instead of attempting to provide us with access to retention options to save our home ; they just want to take it away. Chase Bank has never provided us any help, assigned me a single point of contact to work with or taken our financial circumstance into account to see if our loan qualifies for assistance. I want to speak to someone in your office to discuss this matter, so have a representative call me when you get this letter. My health is very delicate ; XXXX. I was XXXX half a year.During these times I lost a significant amount of income. The loss of income and my illness took a toll on us emotionally, physically and financially. We slowly started burning through our reserves to make ends meet. It was then that I reach out to Chase ; I made two payments toward three months we were now behind. I follow up the next day, to check my status, and to my unfortunate you for help, but the first representative just got smart with me and told me I had to reinstate the loan, or list my home for a short sale, that they should have never received the partial payments because my home now has a foreclosure date. My family and I were devastated ; we felt cheated, betrayed, we were beside ourselves. The government allows homeowners to modify their FHA-insured mortgages to reduce monthly mortgage payments and avoid foreclosure. This program allows the use of a partial claim up to 30 percent of the unpaid principal balance as of the date of default combined with a loan modification.I am capable of making the new FHA-HAMP payment ; with all the government programs to help homeowners, there must be something available to help us toward a resolution of our delinquency and create an affordable payment. Conversely, I feel that Chase are not interested in trying to resolve this matter and are just rushing towards selling our home. This is an avoidable foreclosure as our loan qualifies for a modification under the government FHA-HAMP guidelines under the same government that was provided billions of dollars to help homeowners. You wrote this loan with an interest only rate and not a single dollar is going to the principal payment. It does n't make any sense to foreclose on our property, as there are significant repairs that are needed and it would be very difficult for you to recoup your money. Our home is now worth less than what we paid for, but it 's where my wife and I want to spend the rest of our lives. Chase Bank is serving as a gatekeeper and keeping us from getting assistance on a predatory mortgage loan. You are required to conduct a review based on our current financial status in order to consider all possible options. Chase Bank has refused to comply with the directive of the United States Government by unfair

Company response to consumer: Closed with explanation