Consumer complaint received 2015-12-04
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: JPMORGAN CHASE & CO. (WA)

I started the process for short sale/deed in lieu earlier in the year. Ultimately it was denied by XXXX - this is clearly not an issue with Chase nor my main issue. My XXXX issues are as follows. 
First, during the short sale process there was a sever lack of coordination on with Chase. I would receive many forms that I had already filled out, I would then inquire with my specialist and would be told that I did n't need to fill them out again. A little time would pass, I would get another letter, call again and be told that I have to fill it out again. This issue happened many times with different outcomes each time. We were able to work through this until one decisive moment. We received the letter stating that the short sale had been denied ( I expected this as the first offer we received was significantly lower than the loan ) but the details seemed to explain that the entire process was denied. I called Chase again, spoke with my specialist and was told that I was still approved for a short sale or deed in lieu. I let Chase know that I was going to attempt a short sale through XX/XX/XXXX and on XX/XX/XXXX if no offers were made I would move to deed in lieu. The specialist said that it would work ( I understand that the specialist has no authority to make decisions for Chase and acts more like a contact point ) and she notated my account. A short time after that ( roughly seven days ) I was placed back on the Chase auto-dialer for collections. I found this strange and informed the calling agent that I was approved for a short sale and this was likely a mistake. This all happened roughly September/October. 

Later my realtor contract was up and I was looking to start the deed in lieu process early so Chase and I could move on from this transaction. I call into my specialist to discuss steps to move forward. This was when they let me know that the entire application was declined by Fannie Mae and that I would have to have the house on the market for an additional 90 days starting from our conversation before I could reapply. I had lost weeks of that time due to the lack of coordination with Chase. Had I been provided that when I first called I could have started again right away. 

Second, and this is a MUCH larger issue. The issue and scenario I 'm going to describe shows XXXX of XXXX things about Chase in this transaction. They are either grossly negligent or willfully attempting to prevent me from selling my house before they sold the mortgage. My short sale was declined because I have too much equity, meaning they could have leveraged the possibility of profit from a foreclosure when negotiating my loan. 

Multiple requests were made for a payoff amount for XX/XX/XXXX. An offer was made that would pay off the entire loan. A great offer that would allow me to release the property without taking an additional hit to my credit and where Chase would take no loss. We found out that the load was going to be sold and the transfer would happen on XX/XX/XXXX. Through these requests Chase made no meaningful attempt to provide this information until XX/XX/XXXX. On XX/XX/XXXX Chase mailed out the payoff amount to my personal address. How late the request was sent out and being it was XXXX that week means that I still have not received said documentation. This plus the transfer means that I will not be able to sell the house until later this month, assuming the buyer does n't back out due to the delays.