Consumer complaint received 2023-03-07
Company: JPMORGAN CHASE & CO.
State: NY
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
In XXXX, I obtained a mortgage with JPMorgan Chase Bank ( hereinafter, " Chase '' ). Starting in XXXX, I had a hardship due to Covid, and in early XXXX filed a Hardship Declaration with Chase regarding my mortgage, asking for forbearance and loss mitigation relief. In XX/XX/XXXX, Chase offered me a trial plan and then wrongfully reneged on the trial plan. Chase also failed to grant a forbearance on my mortgage. On XX/XX/XXXX, I sent a legal letter/claim identifying Chase 's breaches and violations of law ( with supporting citations ), which led to Chase entering into a Settlement Agreement with me effective XX/XX/XXXX, followed by a Loan Modification Agreement effective XX/XX/XXXX ( hereinafter, the " LMA '' ). 

I fully performed under both agreements, but Chase materially breached these agreements. Reading the two agreements together, most specifically Paragraph 2 and Exhibit " A '' of the Settlement Agreement and Paragraph 2 of the LMA,  it is clear that my then-existing Home Equity Line of Credit ( HELOC ) was replaced with a 40-year mortgage at a fixed 4 % rate with monthly payments of {$1300.00} starting XX/XX/XXXX. The Principal balance was set at {$310000.00}, with a Deferred Principal Balance of {$23000.00} ( derived from the one year forbearance required from my Covid hardship that Chase wrongfully failed to provide for my mortgage ). Chase was also required to report these loan changes to all credit reporting agencies but failed to do so. 

I sent many requests to Chase asking Chase to change my account information at Chase.com and the Chase App from the old HELOC to the new Settlement Agreement and LMA. In response, Chase froze my account so I could not pay it directly or obtain any information about the account, including monthly statements. My Chase account remains frozen/locked out today. 

I also filed a dispute with XXXX asking that my Chase account be updated/fixed to include/reflect the changes set forth in the LMA and Settlement Agreement XXXX I sent these agreements to XXXX two times and confirmed receipt, asking the XXXX representative to read from each agreement so I could verify XXXX was considering the correct documents. XXXX twice denied my dispute and continues not to update my Chase account with current and accurate information. For example, my Chase account continues to be reported wrongfully as a HELOC with a credit limit of {$300000.00}, resulting in a credit utilization on my report of 114 % ; Chase has also failed to report my loan payments under the LMA ( which are current through XX/XX/XXXX ) and failed to report the one-year of forbearance on payments from XX/XX/XXXX - XX/XX/XXXX. When filing my Experian disputes, I contacted Chase 's attorneys and Chase asking them to look out for the dispute and respond correctly as per the Settlement Agreement and LMA. Chase failed to do so. In fact, this failure was intentional, as I learned when speaking with a representative of Chase 's mortgage escalation department. Chase 's attorneys have now stopped responding to my calls and emails, forcing me to again seek a formal legal solution due to Chase 's material breaches. FYI, in XXXX, I was forced to file a lawsuit in federal court against Chase for beach of this same mortgage, which lawsuit was resolved in my favor. 

As a result of these failures my credit score is XXXX, and I am unable to refinance my home, which may cause me to lose my home in foreclosure. I am employed again full-time with significant assets, so if the Chase/XXXX  fixes were made, my credit score would be XXXX and I would be able to qualify for a refinance loan. I piurcahsed a new car in XX/XX/XXXX and because of ChaseXXXX XXXX failures, I had to make a large downpayment only to obtain an interest rate more than twice market rate, and my car insurance rate was also greatly increased.

Company response to consumer: Closed with explanation