Consumer complaint received 2015-07-05
Company: JPMORGAN CHASE & CO.
State: AZ
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
My husband and I made the very hard decision XX/XX/2015 to leave our home. We purchased an older at the peak of the housing boom. We were inexperienced home buyers and in hind sight, made a poor choice. As the years in the home went on we identified more and more repairs needed and did not have the funds to maintain. 
We contacted Chase in XX/XX/XXXX inquiring what options were available, specifically eligibility to short sale. The bank immediately XXXX our online options to pay, not notifying us of this action and at that time had never missed a payment. 
We began working with a realtor in XX/XX/XXXX, hoping we could short sale in lieu of foreclosure. In XX/XX/XXXX, we submitted a cash offer, providing all information the bank requested in a very timely manner. XXXX days after the offer had been submitted we still did not have a decision from the bank, and the buyers walked. 
At this point, we have received over XXXX letters stating Chases " willingness to assist ''. We have been clear that the assistance we need is a short sale. This will allow us to end this chapter of our lives with the sense that we attempted to fulfill our obligations to the best of our ability. 
We have called Chase inquiring on the process in which our mortgage is in. They are not forthcoming with information and will not advise if we are even qualified for a short sale or the amount of money they will require. 
We are now into XX/XX/XXXX ; we have been maintaining utilities at our previous residence and have since moved into a rental. We are getting further strapped with funds as the bank continues to prolong this process. Additionally, we are receiving delinquent notices to our credit as each month passes. 
We submitted a XXXX offer on our home last week for short sale. I am asking for any assistance that you can provide to speed this XXXX offer along. I am concerned that if the bank takes another XXXX-days with this offer we will lose the buyer again. Additionally, become further financially burdened as we attempt to maintain that home along with our rental. 
My husband and I fully understand that we are not meeting the original terms of our mortgage agreement. However, at this time it feels as if Chase is not assisting us in bringing this situation to a close. We have been assigned XXXX different " account specialists '', receiving a notice from each on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX. None of whom we have spoken to directly. As of XX/XX/XXXX, we received yet another " mortgage assistance notice '' even though our previous offer was still in with the bank. 
When our XXXX offer fell through due to buyer pulling after XXXX days, I called Chase asking how close we were to foreclosure, as my husband and I were trying to determine if we should submit a XXXX offer or allow the bank to foreclose. I was told by a bank representative we were not currently in foreclosure and they could not give me any time frame as to when that would happen. The individual stated it was due to differing state laws, when asked who in Chase new such laws so I could get a time estimate I was told no one. 
Again, what my husband and I are asking of you is assistance in moving our XXXX offer along in the process. We are not getting any information from Chase and are not feeling any sense of urgency from them to help us come to a resolution.

Company response to consumer: Closed with explanation