JPMORGAN CHASE BANK CHARGES A $750 DOLLAR APPLICATION FEE FOR A MORTGAGE LOAN THAT NEVER CLOSED. COLUMBUS Ohio
On Januar 30, 2009 I filled out an on-line application for refinance on my home.. I sent the documentation to Luke Jimenez at JPMorgan Chase Bank. While I was waiting to hear fom Luke, I did some homework. I researched all the houses in my area that were compatiable to my home through recent home sales listing. I even took pictures of these homes and obtained the specs on the homes. When the appraisal person came out I gave him this information. I later found out that this appraisal person did not use any of information I work so hard to obtain in his report. Not only that, the houses that were chosen were homes with alot less appraisal value. This of course made my home worth $120,000 DOLLARS less than what it was supposed to be.
Now the purpose of this refinance was to continue making improvements on my home., which the bank knows by the pictures that were taken at the time of the appraisal. What amazes me is that the bank knowing that you are doing all of these improvements to increase the value of your home, you would think that it would be in their best interest to close on this loan, knowing the value is to go up. This bank just does not care!
Therefore JP Morgan chase charge me $750 dollars on a loan that never closed. They are also refusing to refund the $750 DOLLARS TO my Chase Credit Card. In conclusion, I have not heard from Luke dispite numerous phone calls or from JPMrgan Chase Bank themselves, since the appraisal was done in Febuary 2009.
Mike
BRENTWOOD, New York
U.S.A.
1 Updates & Rebuttals
Emelita
Mountlake Terrace,Washington,
U.S.A.
$750 Application Fee from JP Morgan Chase Bank... Did you get a refund?
#2Consumer Comment
Sun, May 24, 2009
To: Mike from
BRENTWOOD, New York
U.S.A.
Hello Mr. Mike,
As you can see, I have been on your situation, I got approved but I got decline by the underwriters, My loan processor stilll gave me hope on my loan, she said she will submit it again after asking for an explanation on the reason of the decline but untill now I have not heard from her since then.
Last May 14, 2009 she said she just submit my loan back again to the underwriters for another review: this is what it says:
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Sent to me: Thursday, May 14, 2009 1:24 PM
yes, I am submitting it back to the u/w with your letter of explanation this afternoon. I should have an answer by tommorrow.
Thank you,
R:
Loan Processor
JPMorgan Chase Bank
Tempe Arizona
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and so I wait, after two days,I sent an e-mail again and said that maybe it was denied again cause I have not heard from her after two days, so I am asking for a decline letter, so I can go on with my life. Then she send me an e-mail again on May 20, 2009 and she said this on her e-mail:
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Sent to me: Wednesday, May 20, 2009 9:41 AM
your loan is in u/w not per your request, to ask for an overturn on the decline. I will probably have it back with a positive yes or know, this afternoon or in the a.m.
Thank you,
R:
Loan Processor
JPMorgan Chase Bank
Tempe Arizona
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Today is May 23, 2009 Saturday, Seattle
I have not heard from her yet, I am still counting and praying that maybe the underwriters will overturn the decline and give me my loan.
How about you did you get any refund? They said that if the decline is final they will return $350 of the appplication fee... let's see and wait and i will update my post.
Read my post:
JPMorgan Chase Bank Home Finance Tempe, AZ Chase Bank home loan??? who to blame, the Mortgage Consultant, the Loan Processor or the underwriters Tempe Arizona