Consumer complaint received 2021-05-18
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — 
Company: JPMORGAN CHASE & CO. (TX)

XXXX XX/XX/XXXX Chase XXXX XXXX XXXX XXXX, LA XXXX XXXX : XXXX Gentlemen : We are in receipt of your letter of XXXX XX/XX/XXXX. We deny the cited debt based in part on the issues below : 1. We chose to pursue the cited loan product with Chase after experiencing widespread lender abuse regarding escrow accounts and the Chase product did not incorporate an escrow account. 

2. Our records indicate, as confirmed by taxing authorities, that all tax and insurance expenses since the inception of the loan have been paid by us. 

3. An amount similar to {$6000.00} appeared without explanation on previous statements ; upon inquiry Chase failed to explain its nature ; further, said amount is in excess of normal taxes and insurance. 

4. Subsequent to its first appearance the amount was preceded by a negative sign - indicating it was a credit to the account. 

5. Later, the sign was reversed, indicating it was arbitrarily changed to a debit. 

6. Although we had at one time requested a reformulation of the loan, Chase failed to respond with any specific terms to reformulation. 

7. Subsequent to Chases failure to respond, we were able to accelerate payments on the principal portion of the loan. 

8. We requested on several occasions, payoff amounts from Chase only to have absurd and inexplicable amounts quoted. 

9. We have continued to make periodic payments on the lesser portion while waiting for Chase to correct outstanding issues. 

We request Chase credit the cited amount with applicable fees and interest to the outstanding balance and refund the excess directly to us. 

Sincerely, XXXX XX/XX/XXXX Chase XXXX XXXX XXXX XXXX, LA XXXX XXXX : XXXX Gentlemen : Further to our letter of XXXX XX/XX/XXXX and your Transaction Summary ( 10 pages dated XX/XX/XXXX and 9 pages XX/XX/XXXX ), we note that entries on page 3 of 10 of the former, noted as ESC DISB INS and/or TAX are insufficient to establish your claim. 

Furthermore, the XXXX XXXX XXXX XXXX has provided a Property Tax Balance statement referring to said ESC DISB TAX entries and specifically the XXXX Tax Year for account XXXXXX indicating the then Current Tax Levy, the Current, Prior Year and Total Amounts Due as {$0.00}, the Last Payment Amount for the then Current Year Taxes and Last Payer for the then Current Year Taxes as [ The Owners ]. 

In spite of the age of the account, we have identified several direct installment payments to XXXX XXXX XXXX XXXX and a Statement Of Account for the Homeowners Policy XXXXX, Policy Period XX/XX/XXXX XX/XX/XXXX dated XX/XX/XXXX, none of which corroborate your claim noted as ESC DISB INS. 

We note a letter dated XX/XX/XXXX from Chase Home Finance LLC XXXX XXXX ), XXXX, FL, that itemized the total monthly payments past due on the account at that time : Total Monthly Payments {$11000.00} Late Fees {$200.00} NSF Fees {$25.00} Other Fees and Advances {$0.00} Amount Held in Suspense {$0.00} No Tax or Insurance ( Escrow ) Fees are cited for such expenses which normally occur at the beginning of the year. 

The Home Equity Line of Credit Statement XXXX Monthly Statement ) for the period XX/XX/XXXX XX/XX/XXXX indicates no Escrow Balance and {$0.00} Escrow Payment. 

The Home Equity Line of Credit Statement XXXX Monthly Statement ) for the period XX/XX/XXXX XX/XX/XXXX indicates an Escrow Balance Credit of {$6300.00} [ the amount is in ( ) s ] and {$0.00} Escrow Payment. 

Several months later, The Home Equity Line of Credit Statement XXXX Monthly Statement ) for the period XX/XX/XXXX XX/XX/XXXX abruptly changed to a Debit Escrow Balance of {$6000.00} and {$0.00} Escrow Payment eight years after the subject event. 

We reiterate, that while we admit to experiencing financial difficulties during the period which has come to be known as The Great Recession, we acted responsibly in accordance with applicable laws and programs and kept Chase informed of developments. We received little cooperation and no appropriate assistance in return, but only harassment, confusion and seemingly never-ending and unjustified punitive fees - including inspection notices and absence fees while we were on the premises. High turnover and staff churn at Chase resulted in many Chase personnel handling the account with the consequent chance for errors and opportunities for compounding errors or cover up high. It appears there may have been fraudulent practices and charges. We were left with no alternative, but to accelerate payment when we became able and repeatedly sought to successfully close this relationship. Given the management of the account contrary to generally accepted practices, it may not be possible nor worthwhile to perform definitive forensic accounting of all that transpired, and apparently Chase does not retain records that may illuminate solution. 

Clearly, we disagree with Chases attempt to capitalize unfounded claims and have no desire to extend any agreement with Chase Home Finance. 

If the XX/XX/XXXX XX/XX/XXXX Monthly Statement is considered reasonably reflective of the Unpaid Principal Balance at that time, ignoring inappropriate and questionable charges, fees, inconsistent application of payments and inexplicable manipulation of so called escrow amounts, etc., we are prepared to settle the account with Chase for that amount, {$2700.00}, less the payment cited below, as payment in full provided that Chase also remove all derogatory comments on our [ The Owners ] credit bureau reports and simply note the account as Paid as Agreed. 

As a sign of good faith, we have paid {$280.00} via Bill Pay this date ; the confirmation code is XXXX. 

Sincerely,