Consumer complaint received 2016-05-11
Product: Mortgage — Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account — 
Company: JPMORGAN CHASE & CO. (CO)

My wife and I purchased our home in XXXX, XXXX. Because she had equity in her previous house and better credit, we decided to put the house in her name alone. My name was added in XXXX when we refinanced the house to a 15 year mortgage although her name alone remained on the deed. She died on XXXX/XXXX/XXXX from a long battle with XXXX. I not only lost my wife and best friend, I lost her income as well. Chase was kind enough to offer a loan modification program to help those who are struggling to make payments. Although I have always made the payments on time and continue to do so because of savings from life insurance, I am actually short about {$1500.00} a month. At my present rate, I will be out of savings in less than a year and will be forced to sell my house or maybe move and rent it out. I applied for a modification with Chase so that I can modify my loan from a 15 year to a 30 year mortgage. I was led to believe everything was in order and straightforward. The person I was dealing with is XXXX XXXX. I spoke with him on or about XX/XX/XXXX to ask how my application was coming along. He said he did n't know but assured an answer was imminent and that he would call me. Well, he never called so I called on Friday, XXXX XXXX an spoke with someone else who told me I was denied. This surprised me based on my longstanding and perfect payment history with Chase and my financial situation and have appealed their decision. The gentleman I spoke with was unable to explain the reason for the denial. What was particularly upsetting was I got a denial letter on Monday, XXXX XXXX DATED XXXX XXXX! This means XXXX lied to me! What was shocking and extraordinarily upsetting was they gave me XXXX options : 1. Short sell my house. This is ridiculous and insulting because Chase already verified the value of my house at {$340000.00}. I have that in writing. I owe about {$160000.00} so selling my house in XXXX is no problem. 
2. Foreclose on the house and give it back to Chase. 
My god, if this is n't predatory, I do n't know what is. 
No mention of selling the house ( other than a short sale. No mention of a refinance which is my other alternative since I only want to make the term 30 years instead of the current 15 year term. 
Can I sell the house? Yes, I can sell it. But why should I be forced to sell my house that my wife and I turned in to a beautiful home together. I 've lived there nearly 13 years. I ca n't imagine living anywhere else and my house is to special to me to consider moving right now. It 's not my fault my wife died. It 's not my fault I 'm struggling financially. Chase has a program to help customers who are struggling to make their house payments. I 'm one of those customers and am asking for their help. 
Another thing that was especially hurtful is they addressed the letter to both me and my wife despite me providing a death certificate and the proper legal paperwork to transfer ownership into my name. 
I 'm astonished at the incompetence and outright deceipt in how Chase has chosen to deal with situation. 
Your assistance in this matter is greatly appreciated. 
Thank you.