Consumer complaint received 2022-04-28
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: JPMORGAN CHASE & CO. (FL)

My name is XXXX XXXX XXXX SSN XXXX and phone number ( XXXX ) XXXX. XXXX XXXX XXXX, I took out a {$160000.00} ( 30 year fixed rate 6.75 percent interest rate ) 1st mortgage with Chase Home Finance ( my loan number was XXXX ) on a single family home, XXXXXXXX XXXX XXXX XXXX XXXX XXXX  XXXX located at XXXX XXXX XXXX XXXX XXXX Florida XXXX. During the period between XXXX, I occasionally experienced problems paying my mortgage, I would get behind, then enter into a payment plan, with the arrears payments added to the monthly payment, etc. Each time, during the loan repayment periods, there were many instances when Chase rejected the payments and immediately returned the wire transfer payment to XXXX XXXX via wire transfers, and I would be notified by XXXX XXXX to return to a XXXX XXXX XXXX to receive my returned wire transfer payment, then Chase would cancel the loan payment agreement. A few months later, I would request another loan repayment agreement, Chase would allow me to begin a new repayment play, then they would begin rejecting the payments again, that I had been sending via XXXX XXXX wire transfer. In XX/XX/XXXX, I again applied for hardship ( I have attached the hardship letter dated XXXX XXXX requesting a loan modification and trial payment plan ) and I subsequently entered into a new trial period, towards the end of XXXX, Chase agreed to a new 3-6 month trial period, then a loan modification was sent to me in the first in the first quarter of XXXX, then they began foreclosure before I accepted the loan modification that was offered, which was a modified loan agreement, which was a 40 year loan with a 4.0 percent interest and the loan amount had been increased to {$200000.00} ( I have no explanation why the loan amount increased to {$200000.00} ) after having paid down the loan amount to {$150000.00} over the previous 13 years. I accepted the agreement to avoid foreclosure by Chase, and I made my monthly mortgage payments each month on the new 40 year loan until XX/XX/XXXX when my job ended and I have not been employed since XX/XX/XXXX. As of XX/XX/XXXX, I am now eighteen months behind on my mortgage payments and on XX/XX/XXXX, I was served with a notice for foreclosure. This is the bottom line issue regarding my loan with Chase. I took out a {$160000.00} 1st mortgage in XXXX XXXX with an fixed interest rate of 6.75 %, Today is XX/XX/XXXX, and I have been paying on a loan with an original loan balance of {$160000.00} for twenty one years, I have thirty four years of payments remaining on the loan, and I now have a remaining balance of {$180000.00} on the loan, plus I'm eighteen months behind in payments, and facing foreclosure. In summary, I borrowed {$160000.00} at 6.75 % for thirty years in XXXX XXXX, and on XX/XX/XXXX, I have XXXX XXXX years remaining, a balance of {$180000.00}, and 18 months payments in arrears on the original mortgage of {$160000.00}. If I were to continue paying the mortgage, and make up the eighteen payments in arrears, and terminate foreclosure, I will have to pay mortgage payments for a total of 53 years in order to pay off a {$160000.00} loan that I took out in XXXX XXXX. I believe, I the balance of my original loan was unfairly increased by {$50000.00} and another forty years was added onto a loan that I had already had for 13 years in XXXX, when Chase gave me a loan modification. loan balance should be adjusted downward to accurately reflect the proper balance for a {$160000.00} loan with payments in arrears. I don't understand why the balance of my loan increased by {$50000.00} in XXXX, when Chase modified my loan. I would also like to be given an opportunity to reinstate my loan and make up the back payments on the loan over a 3-5 year period of time, or have the eighteen months payments in arrears written off, and allow me to begin making payments again at the {$1300.00} monthly payment that I had been making since XXXX, before my employment ended in XX/XX/XXXX.