Consumer complaint received 2025-07-18 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Payment process
Company: JPMORGAN CHASE & CO.
State: VA

Complaint narrative:
Hello, My complaint does not fit into the boxes, so I'm hoping this is the right place. I have a mortgage with Chase Bank for a second home. As of today, I owe {$120000.00}. My house burned down in a fire, XX/XX/XXXX, at which time, I owed around {$120000.00}. I have never missed a mortgage payment-obtained this mortgage in XXXX. 
At the time my house burned down, I had good insurance and XXXX XXXX gave me over XXXX for repairs. XXXX XXXX gave me some of the money, and then wrote a check to myself and Chase Bank for {$250000.00}. Chase then gave me approximately {$130000.00}, calling that my initial payout, even though it was giving me my own money back, above what I owed on the mortgage. Chase then cited they would give my second payout after 25 % was completed. 
The issue is that Chase states they will get an inspector assigned within XXXX days and then they have a certain amount of time to come to your home. This ended up being weeks and MONTHS. Various things would occur-the inspector would contact me, I would say they can come right away, and then they would cancel. Twice they canceled due to stating I didnt have my inspection worksheet on file. I had it on file since XXXX is a record of this on their third party vendors site, Insurance Claim Check. Chase would apologize, and then try to send someone out, causing the same delay-weeks to months. Because of these delays, I had to take a loan against my retirement and pay interest to pay the contractor. 
After I passed my 25 % inspection at 34 % complete, I got notified that Chase would give me my next payout when I was 100 % done. They still owed me XXXX at that time, so I called and asked to have a payout sooner, since I could not front that amount of money without applying for a loan. Chase then stated they could do an inspection at 75 % done. I ordered an inspection when the worksheet indicated the build to be 75 % done. The inspector, hired by the third party vendor of Chase contacted me, and I sent her XXXX Photos, and she said I was XXXX % done. Insurance Claim Check sent notification that I was 44 % done and paid me XXXX. They still owe me approx. {$47000.00}. I filed an appeal, due to the discrepancy and it was denied with no reason. They said I could request an inspection again, and the process starts all over. 
At this time, my home is worth approximately {$250000.00}. I want to know why Chase is allowed to keep my money, when my asset is worth DOUBLE the loan ( today {$120000.00} remaining ). I also want to know why they are allowed to profit off of holding the insurance money each time their inspector makes a mistake or there is a documentation mistake in their system. These issues are out of my control, yet Im penalized. My credit score went down because I had to charge more for home supplies while waiting for this payout ( paint, shower doors, vents, appliances ). My retirement investments are making less interest because I took a XXXX loan from my XXXX. I also have to pay 9 % interest on that loan. 

Please help me! 

Thank you for your time, XXXX XXXX

Company response to consumer: Closed with explanation