Consumer complaint received 2016-06-29
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Credit decision / Underwriting — 
Company: JPMORGAN CHASE & CO. (DC)

I feel that I am the victim of predatory lending. JP Morgan Chase has been the holder of my mortgage since XX/XX/XXXX. I have had an interest only mortgage for the past 10 years. The original mortgage company was XXXX XXXX who filed bankruptcy shortly after my settlement XX/XX/XXXX and my mortgage was sold to JP Morgan Chase . I have been self-employed as an insurance agent for the past 14 years. I am one of few female XXXX XXXX on XXXX XXXX in XXXX. The mortgage broker that worked with me originally in XX/XX/XXXX submitted my initial application to XXXX XXXX on the basis of a 'STATED INCOME ' due to an above average credit score ( that was allowed back then ) ; however, I not certain that was in my best interest. XXXX. When the market crashed shortly after the purchase of my home in XX/XX/XXXX I was automatically under water by approximately {$200000.00}. At that time, I attempted a home modification ; however, because I was not delinquent ; it felt as if they stalled for over a year. JP Morgan Chase delayed the review and continually asked for the same information over and over. It was clearly a stall tactic ; It was obvious that the home modification approach was going no where fast. Even throughout this entire home modification process, I continued to make my mortgage payments in a timely fashion. Approximately 1 year ago, I incurred a tax lien associated with my business ; there are reasons ( misunderstanding ) but for the purpose of this complaint, the reasons are irrelevant. I am, however, compliant with regard to an agreed upon installment agreement with the IRS. During the past 3-5 years, I have been paying additional monies toward the principal even though I am stuck in this interest only loan and JP MORGAN CHASE WAS NOT requiring an additional payment.. Outside of the IRS Tax lien, my credit payment history is impeccable. I have not been delinquent in over 10 years. XX/XX/XXXX, when the interest rate re-set, my mortgage payment doubled from {$1800.00} per month to {$3300.00} per month. Last month, I applied to refinance my interest- only mortgage to a fixed mortgage. My perspective was that since I have been in good standing for the past 10 years with JP Morgan Chase, my credit score is XXXX in spite of the IRS Tax Lien, I am compliant with the IRS and under an installment agreement, and have no delinquent credit payment history .... that they would give me serious consideration. Additionally, I am now married to a veteran and the strategy was to secure a VA loan. I feel that I have been discouraged at every turn. I would make suggestions with regard to refinance options to the company to no avail. At no point, has JP Morgan Chase been an advocate for me or attempted to seek a solution to help me. There is absolutely no benefit to JP MORGAN CHASE to assist me in refinancing from interest-only loan to a fixed mortgage. They benefit from receiving interest PAYMENTS and I DO NOT benefit because I will have the same mortgage balance tomorrow or 10 years from now as I do today ( essentially renting my own home ). I feel that despite the XX/XX/XXXX Class Action Settlement, JP Morgan Chase has exhibited no interest in helping me. There is no sustainable way I can pay an interest only mortgage in the amount of {$3300.00} for much longer. My desired outcome is simple : I seek a 30 year fixed mortgage.