Consumer complaint received 2023-08-04
Company: JPMORGAN CHASE & CO.
State: IL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Back in XX/XX/XXXX, I applied for a loan modification through my lender JP Morgan Chase. I was approved and went through the trial payments in XXXX, XXXX and XXXX of XXXX. 

I was then required to send in the final modification documents to finalize the process and begin my payments with the new modified amounts and time frame on the loan. I originally faxed these forms in per the loan rep that I spoke to, which constantly was a different individual even though I was assigned a specific individual. I sent those documents via fax from a Chase Branch in XXXX XXXX, cause it was closest to my work location. 

I then contacted the chase Morgatge department who verified the documents were received and all papers was there and going to be submitted for final approval. At this point no issues were brought to my attention, no problems with the paperwork were mentioned. 

About one week after documents had been submitted, I again followed up on my modification, looking to speak to my assigned lean officer. She was not available per usual so I was offered to leave a message which to that day I have never heard back from her after leaving a message. I opted to speak with the next loan officer who became available. When that individual got on the phone they informed me there was a problem with my paperwork and that it was incorrectly submitted and that faxed paperwork would not be accepted. At this point 2 weeks were wasted due to being misinformed and misguided by the same people who are supposed to be helping through the modification process. 

I still had the original copies to finalize the modification and told them I would send them in immediately, in which I did roughly 1 hr or less when being informed. The original documents were sent via XXXX XXXX in the return envelope provided. These were dropped off at mail facility in XXXX XXXX Indiana, where I received a receipt and tracked. These were one day aired to Chase and I called again to verify it was received and that they were being re submitted for final approval once again. At this point there was over a week for me to get these papers in and I was assured by a random loan officer not my assigned officer that all should be good and if any problems arose I would be contacted. 

I again followed up myself cause I want to make sure this modification was done and I could breathe easy knowing that all was taken care of. Again my loan officer was not available and I was offered the next available representative and I took that option. Because at this point I never spoke with my assigned representative and was used to this process. I was told all the paperwork received was correct and I was good to go with my next payment being due on the first of the upcoming month in the new payment amount. 

I went into the XXXX XXXX  Chase on XXXX to make two mortgage payments and bring my payments up to date. Due to being out of town the past 30 days for family issues. I was told by the attendant that payment can not be taken and there must be an issue with my account. I then called to find out my loan went to the foreclosure process on XX/XX/XXXX. Confused I called in to find out I can reinstate my account for {$5600.00}. Then was informed that is all that is possible to bring my loan to current. 

I explained to the individual what I thought the account was at and she then noticed the modification process through the notes. She took a couple mins and said there was an issue with the final documentation and it was not received on time. I explained that was not the case not only do I have documentation of when it was sent in but also that I spoke with them numerous times before and after the documents were sent and received. Being distraught I let that individual go while I got my paperwork and thoughts in order. Around XXXX XXXX I called again to verify that nothing could be done and what I needed to do to stop the foreclosure. And was told I can start a new assistance application or pay the reinstatement amount of {$5600.00}. Was informed on how to get an application quickly and that was by stopping in a local branch. When I asked what happened with my final documents I was told unfortunately mistakes happen, misfortune and problems sometimes arise. He is very sorry that one of these took place but assured there was plenty of time to submit a new application. 

I find this excuse not only unacceptable but down right unprofessional and appalling. For over 7 years I have had this loan and made payments and due to unforeseen world issues had fallen behind and struggled over the past 2 years. Originally obtaining the loan I was categorized under XXXX  citizen tax rates due to the seller being given this rate. At closing I asked if that was the correct rate and was told confidentiality yes. Then 12 months into the loan received back tax notice where my mortgage doubled for 24 months. 

I fought my way through that misfortune, mistake and overlooked issue. Making all payments and catching up the loan. Feeling that this is all part of the lenders plan, seeing that multiple friends encountered the same problem. Now that we are where we are, I cant help but think misfortune tends to happen to the unfortunate. I could be wrong, but reapplying for loan assistance after jumping through all hoops and doing as I was informed would like to know why cant Chase be held responsible for mistakes they made on their end? Why do I have to accept things happen? They do it accept that as an excuse to not make a payment, or fall behind. 

Even at closing they decided to increase the already high down payment requirement which I understand was my fault due to credit issues. But the amount they increased it to just so happens to be {$100.00} less than what I currently had in there establishment. This was no coincidence, they knew what was available in my account and wanted all of it. 

For years I have been trying to fix my homes assessed value on their end which happened to be exactly the amount of my loan. There is no way this is the case, I have had my own assessment value but Chase does not recognize that as the true value. This assessment of Chases cause me years of paying {$50.00} per month for insurance until 25 % of the home was paid for even though I was required to put 25 % down. 

Chase has consistently screwed me over and over and I have finally had enough of this treatment for no reason other than for them to continue to rob funds form me for their benefit. 

This needs to stop!

Company response to consumer: Closed with explanation