Consumer complaint received 2016-08-15
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Application, originator, mortgage broker — 
Company: JPMORGAN CHASE & CO. (NC)

My name is XXXX XXXX and I have been trying to purchase XXXX XXXX XXXX XXXX XXXX NC XXXX since XX/XX/XXXX. I am a single mother of a XXXX year old little boy and have been without permanent residence for over 8 months now due to an unclear title on this home. XX/XX/XXXX I went into contract with the seller, with an expected closing date of XXXX/XXXX/XXXX. A few days before closing my attorney tried to get title insurance and found that there was an additional loan of over XXXX on this home which is held by Chase Bank as well. These loans were recorded in XXXX County under Book # XXXX page # XXXX. My attorney reached out to the seller 's agent an after several days and phone calls to Chase Bank it was determined that the funds were owed and it became a short sale transaction. After waiting close to 6 months for the seller to be approved for a short sale, I was then told that my offer was accepted and to have my attorney request a second pay off amount from Chase Bank with an expected closing date of XXXX XXXX XXXX. My attorney requested the pay off amount again but received a call from the seller 's listing agent explaining that Chase contacted him, and told him it was not a short sale after all. My attorney at this time became uneasy because the title still shows a note of the additional loan and was told by the title insurance company that he would need something in writing from Chase explaining the pay off amount including both loan amounts. On XXXX XXXX XXXX fours days past my second missed closing date the sellers agent contacted my agent explaining that he and someone at Chase was working to get it corrected or something in writing so that we can close this deal but it would take 10 business day to do so. At this point my lender has given me until XX/XX/XXXX to close or my loan approval would expire. I then had to write a letter to me lender asking for more time and was granted until today XXXX/XXXX/XXXX to close. Two days ago my agent receives a call from the seller 's agent explaining that XXXX XXXX XXXX at Chase was working on it and was waiting on USDA even though Chase bank holds both loans. This is now the third closing I have missed and my loan approval will expire. I have invested money for XXXX appraisals and over 9 months of time with this home and Chase Bank continues to provide and not provide accurate information to close on this home. I am coming to you for assistance with this matter. I do n't think that a company should be able to provide XXXX incorrect pay off amounts and then not do what it takes to correct it. I still want to purchase this home and need for Chase Bank to provide or correct the status of the XXXX loan listed on the title. Chase has sent in a payoff that would have covered the closing in XX/XX/XXXX while holding a second loan that was not covered and this is my complaint and concern. Is this legal? I have been without permanent housing for over 8 months with my XXXX year old son. I have given all I have in this situation and have nowhere else to go. Thank you for your time and assistance.