Complaint Review: Chase - JP Morgan Chase Bank N.A.

We have submitted wage stubs, expenses, tax returns and bank statements five times over the last eleven months, trying to get a loan modification through first Washington Mutual and then Chase. We get duplicate requests for documents from different physical addresses, and we mail our payment to a different address in Ohio, so we don't even know where our loan information actually is. We received counseling three times, and attended The Hope conference, The Making Home Affordable and two other workshops, trying to resolve our situation. We received a letter last week saying to forward additional documents within ten days, and it wasn't mailed until several days afterward. This whole process is underlined by their constant reminder in all correspondence that if we just pay up all the arearage, all the fees and collectable amounts they have tacked onto our loan and begin paying full payments again, we can reinstate our loan. If only we could do that.

I have Scleraderma and am critically ill; I can't hold a job. My husband's wages have been reduced by $10,000 due to the closing of automobile dealerships. We can't rent out a room for additional income because it's a one bedroom home. The plumbing is stopped up and the electrical is dangerous, the roof leaks buckets. Chase simply doesn't get it that we can't pay up, and we can't afford to pay the whole payment anymore, and they still want all their money. The last statement they sent shows us to be owing roughly four thousand dollars more than we owed when we got behind, despite the fact that we have been making reduced payments under a forebearance agreement.

We went to the NACA Save the Dream event in Nashville because we were told we could sit down with our lender and work out a loan modification, but after driving the four hours to Nashville, we were informed that Chase (who had signed an agreement with NACA) did not even have a representative at the event. Chase doesn't want to give up any profit; the greed and lack of accountability for the sharp and predatory business practices they use is appalling. NACA gets paid for every loan they save. Chase took money from our Government and yet they are unwilling to shoulder responsibility for their greed and grant consumers loan modifications. By drowning us in paperwork requests, that are expensive and time consuming, they effectively stall the process for as long as they desire, yet technically they are compliance with Federal statutes. We as consumers are always at the bottom of the food chain, and  Chase and other greedy banks like them, make sure they are at the top. I say we take them down: Let's file a class action suit and make them an example of how not to do business, if you don't want a whole bunch of angry customers suing you.