Consumer complaint received 2015-09-20
Company: JPMORGAN CHASE & CO.
State: GA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I am a senior of XXXX years old experiencing a considerable hardship, as a consequence of reduced income, XXXX on both of my XXXX, and an extensive XXXX, which is ongoing ( NOT covered by Medicare ). In 2015, I have applied for financial assistance with CHASE, who services my mortgage on behalf of XXXX XXXX. At that time, my monthly mortgage payment was about $ XXXX. I have asked to be considered/reviewed for each financial assistance alternative that I 'm eligible for, marking the appropriate box on the first page of the RMA. During the processing of the application, I received conflicting information from multiple CHASE representatives which made it almost impossible for me to know where I am in the process. I have already been denied XXXX for HAMP and Streamlined Modification. CHASE acknowledged its mistake ( s ) of requiring me to provide documents that I should not have been asked to provide. However, CHASE still denied my application on that basis. Moreover, different CHASE representatives ( from various departments ) told me that I was reviewed and approved on a Streamlined Modification while the Decision Letter I have received states otherwise. 
In the Decision Letter ( page XXXX of XXXX ), under " Other Option ( s ) That Were Not Considered '' it states that " We [ CHASE ] did n't review/ [ considered ] your loan for the following available assistance options [ meaning, Streamline Modification ], because we 've approved you for the XXXX XXXX Standard Modification Program ''... " The Benefit of accepting this Offer [ Standard Modification ] is that this option PERMANENTLY CHANGES your mortgage loan, SO YOUR PAYMENTS or terms of loan ARE MORE AFORDABLE. '' However, THIS PRESENT STANDARD MODIFICATION OFFER [ new payment is {$2800.00} ] DOES NOT MAKE MY MONTHLY PAYMENT MORE AFFORDABLE. Instead, it raises my monthly payment almost $ XXXX, versus what the monthly payment was prior to asking for financial assistance. While the Letter states that the Streamline Modification might have lowered my monthly payment and/or interest rate, I have not been even considered for a streamlined modification ( according to the Decision Letter ), despite my clear request on the first page of the RMA, where I marked the box stating : " I WANT TO BE REVIEWED FOR ALL MORTGAGE ASSISTANCE OPTIONS. '' However, on XXXX/XXXX/15, I was told by a CHASE representative ( Research Analyst ) that : " YOU [ I ] HAVE BEEN APPROVED ON A STREAMLINED MODIFICATION, by both, CHASE and XXXX XXXX. '' How is it possible that while both, CHASE and XXXX XXXX approved me for a Streamlined Modification, this is not even mentioned in the Decision Letter, which states that I have NOT BEEN CONSIDERED for the Streamline Modification. WHY? HOW COULD THIS BE? 
Last, but not least, I was told by XXXX different CHASE representatives that the Most Updated Package of XXXX pages of financial information that I sent to CHASE on XXXX/XXXX/15 ( before the due-date required by CHASE ), was most likely NOT RECEIVED by CHASE 's Underwriting Department before the Underwriting Department made its Final Decision, on XXXX/XXXX/2015, on my application. Furthermore, on XXXX/XXXX/15 I was called by another CHASE Executive Representative who stated that as XXXX/XXXX/2015, my file was : '' out of CHASE 's hands, and on the Investor 's Desk, waiting for an approval. '' However, on XXXX/XXXX/15 another CHASE Escalation Manager called, stating that : " CHASE have received your most updated package submitted on XXXX/XXXX/15, and will send it to the Underwriting Department for the Final Review either today or tomorrow ( XXXX/XXXX/2015 ). More significantly, CHASE issued a Letter on XXXX/XXXX/2015 stating in it that there are documents " NOT YET RECEIVED. '' Yet, on XXXX/XXXX/15 CHASE made a FINAL DECISION ANYWAY ( despite lacking the most updated package of information ). Because space is limited, so I will stop here.

Company response to consumer: Closed with explanation