Consumer complaint received 2015-05-03
Company: JPMORGAN CHASE & CO.
State: MD
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I sought a mortgage modification starting in XXXX after my wife and co-loan maker left our family house for her own home. She stopped paying all household expenses and in the past XXXX years my take-home income was reduced significantly as my family sought to start a business. Chase advised us to jointly apply for the modification but acknowledged via numerous conversations with us that my wife did not reside in our home nor was she paying any household expenses. My wife, at Chase 's request furnished Chase the lease on her new home and bank statements which all corroborated that she did n't live in our family home nor pay any household expenses. I and in fact, both my wife and me, indicated that the mortgage relief was to be only on my finances b/c she had no intent to pay anything further for our family home. Chase took over XXXX months to deny us for any loan modification on the basis that we made too much money! They said I could appeal but I strenuously objected b/c they made their determination on both my wife and my income and to " appeal '' that finding would be futile b/c with our combined income -- we probably do make too much money. But my issue was why they would include her after numerous discussions and evidence submitted that we were separated and more important -- my wife did n't intend to contribute to the household in any way. Further, in my original request, while we filled out the application at their insistence, my goal was for a forbearance for a few months while we tried to resolve our marital affairs. In parallel, I maintained keeping my mortgage current by liquidating every retirement account that I have and vigorously explained in every conversation with Chase that I could not allow my mortgage to be late. The nature of my work with the XXXX requires a clearance and financial distress indicators could impact my employability and the status of my firm to do business with the XXXX -- in essence ensuring my financial insolvency. The most important thing in this process was not so much the decision that Chase reached but that they reached a decision expeditiously. At this writing, I have been in the " appeal '' process for XXXX weeks and the newly assigned rep has yet to review the basics of my file and he stated on XXXX XXXX conversation that I should have filed an app by myself with my wife having signed a quitclaim deed. WE ASKED THAT QUESTION NUMEROUS TIMES IN THE ORIGINAL APPLICATION and original rep refused to answer that question. But to add insult to injury, he tells me that if I want to be reviewed solo then I MUST REAPPLY. Chase 's lack of appropriate and timely processing of my family 's request is literally forcing us into foreclosure but I struggle to keep my mortgage current b/c of the adverse professional ramifications. In close, our house is at least $ XXXX upside down and our mortgage is a negative ARM -- XXXX other major drivers for seeking a modification. Again, it is not so much the decision that Chase makes it is the intransigence to recognize that forcing me to re-apply when we made our situation clear from the outset, is enormously unfair and a potential destructive hardship to our family. But after my last dealing with the Chase rep, it was clear that he, personally, refuses to even review my file in a timely fashion and despite his assurances that he will do so and despite my vehement request, even to escalate my case to a superior. He advised me that I can not expect escalation despite his not reviewing my case file since he 's been assigned it XXXX weeks ago and that I have " no further recourse. '' I 've attached Chase 's " decision '' & you will see that they used our combined income ignored all the conversations, data and facts related to my wife NOT paying any household expenses and her taking her salary to pay for her new home [ where mathematically she could n't pay for both homes ].

Company response to consumer: Closed with explanation