Joanne
Mason,#2Consumer Comment
Wed, August 18, 2010
You are not alone. I filed with Chase and they tried to steal my home out from under me without any notification.
I have just concluded a class action law suit against another mortgage company for unfair lending practices. I have decided to contact the three attorney's officies that handled this case and see if they would be interested in taking on Chase bank. I will refer them to this Rip-Off Report so that they can see all the people that are filing complaints for the same unfair practices. Hopefully they will put an end to Chase's unethical practices.
As for the person that said that it was your fault, sometimes you are not aware of what is being done to you. With my first loan company they gave me a loan on a home that they appraised at 120,000.00 and said that if I paid my payments for one year on time, I could refinance with them for the lower percentage rate. One year later they informed me that they had made an error on the original appraisal and that the home was only valued at 90,000.00. So no refinance and my percentage rate remains at 11.99%. This was the class action lawsuit that was just settled.
Lets see what happens now.
Roxy08
palm bay,#3Consumer Suggestion
Thu, June 17, 2010
First I would like to address your comment on predatory lending. Did the mortgage officer threaten, scare, or intimidate you into signing your "bad" loan or did you sign that loan yourself knowing how much the monthly payment would be and how much you could afford? And were you aware you were signing an Adjustable Rate Mortgage?
Second, Obama's plan... aka MHA or HAMP......... the guidelines change so often by the treasury it seems it would be d**n near impossible for the banks to accomplish anything. From what I read from reliable sources the Treasury was putting freezes on modifications at the beginning of the year and they are constantly rolling out new policies and yes those policies apply to all the loans waiting for a modification regardless of when the information was received.
Third, outside companies that claim they will modify your mortgage lie. The only thing that can lower the payment is a modification from the bank. You can always contact the Treasury and get an escalation from there. Which I would call them now if I were you.
toast314
Pennsville,#4Author of original report
Thu, May 27, 2010
I have been very responsible , How can the bank base a loan on a 2nd income if they are not a borrower on the mortgage ? I am the only borrower always was. I have a stated income loan, not a No Doc loan. I am not a mortgage broker I gave my info to my mortgage broker the bank is the one who tell you if qualify. Had I known my fiance was gona cheat on me I would have never took out a loan on a new house.
Susan
This City,#5Consumer Comment
Wed, May 26, 2010
You said "When my home was purchased in Sept. 2005 I believe I was a
victim of Predatory Lending I was given a $175,000 loan on a $ 32,500 a
year income. Which means I only had a $2700.00 gross income plus a
250.00 monthly obligation and they choose to give me a $ 1464.00
Which was 100 % of my monthly income. I did have a second income
in the house when I bought it, which I do not have now. "
You can obviously read and know simple math. Was a gun put to your head at closing forcing you to sign? How is this the banks fault?
You said you did have a second income when you bought the house. I am sure the bank used that as a basis.
Also in the mortgage mess, who was your orginal lender before Chase bought the bad debt.?
Talk to they government, I am sure they will bail you out.