Complaint Review: JP Chase Home Finance - Tempe Arizona

Well I just got a second e-mail from the loan processor and she said it was decline again: Here is her note on the e-mail: emilita, I received your file back from underwriting per your second request and the file is still a second level decline. I am sorry we could not help you at this time.. Thank you, Loan Processor JPMorgan Chase Bank (P) 602-627-9171 (F) 866-914-7967 CAN anybody help me? I have read a lot of RIP Off here from Chase Bank and now I think I am one of the victim here too. I think Chase Bank do not approved any loan and they only make all the customers and borrowers apply, get their application fee and make the borrowers suffers for two months of waiting after telling them they got approved but it isn't...... What happen to this Financial Stability that our President talking about. I try to settle all of our debt and try to lower my mortgage interest. I have read this: As part of the Financial Stability Plan, Treasury has put in place a series of financial initiatives to help lay the financial foundation for economic recovery: 1) a broad program to stabilize the housing market by encouraging lower mortgage rates and making it easier for millions to refinance and avoid foreclosure; Easy to refinance??? That is not good to Chase Bank.

It sounds like they are going to make an attempt to work this out. I hope everything goes well. I was only pointing out that in your original post, there seemed to be a question about where your son actually lived. These days the loan writers at the banks take these things very seriously (unlike a few years ago). They want to be sure that all signers on the loan have a vested interest in making sure that it gets paid. Making sure that the mortgaged property is their primary residence is one way they do that. Best of luck.

Here is the words from the mortgage loan processor who appoved my refinance loan from Chase Bank: I copy and paste: 1.)From J: Hi E Good morning. We are working with the underwriters in an attempt to answer their questions and overturn the decline that was issued on your loan. 2.) Hi As R noted, she is discussing the options with her manager and I am having my manager see what she can do. 3.)I will continue to work on it for you. The occupancy of your son was a key component to this decision, as his income is needed and if he does not live, nor intend to live there, that would be an issue. If he is living there, please write a letter that we can use. Thanks, J Here is the words from the e-mail of the loan processor: I copy and paste: 1.) from R: I apologize for not getting with you since the file came out of underwriting last week. I wanted to get J assistance with your file because I did not agree with the decline. Again, I wanted to give j the opportunity to try to figure out something for you. 2.) from R: I am asking my manager to review your file with me. About the comment on the hud page, I have never heard of that. would I be able to see it myself? Well, I am waiting now if they can do anything for me. Maybe I will make another statement here if good happen and apologize..??? Jus got an e-mail from R: yes, I am submitting it back to the u/w with your letter of explanation this afternoon. I should have an answer by tomorrow. Thank you, R

Flynrider Phoeix, Arizona U.S.A. I can see why they questioned it. You say, 'The co-borrowers is, my son, a Postal Mail Handler, who do not live with me, my reason, he only stay with my relatives because of the gas raise but all the mail goes to my house and he still live with me.' Look at what you wrote. You say that your son does not live with you, yet in the same sentence you claim that he does. If your application has these kinds of discrepancies, I'm not surprised that they declined the loan. It sounds like your son does not actually live with you, but that you are claiming that he does because his mail is delivered there. The bank is not buying it and I don't blame them. You could probably have gotten away with that a few years ago, but nowadays, loan applications are taken a lot more seriously than they used to be. ============================================ Thank you Mr. Flyrider on your comment and I respect of what you say here. My son really actually live with me but for some times he spend some of his sleeping nights with relatives especially when there are more overtimes at the post office, and as I said here he only stay with my relatives to save gas and 1 1/2 commute everyday. As I also said all his mail comes to the house and this is his primary residence. Soon he will make the long commute again when the family comes here from the Philippines and it will be a long commute everyday which makes me scared being a mother. From the beginning the mortgage consultant, and the loan processor knows all of this and they did not even told me that my son needs to live with me for the whole month but instead they said it is no big deal as he is only a co-borrower and the name is going to be on my mortgage loan. I am serious with this loan and I even make a commitment letter to them that i will pay this loan every month on time together with my son. Tell me, isn't this a mortgage fraud, tell the borrower that they are approved and let them pay the $750.00 after telling me that my son and me have a good credit score. Then after a month and half telling me that, this coming May 11, you will sign the papers and will give your cash out then suddenly you won't hear from them and then they tell you your loan is decline. I have the same story here on this website why don't you read that one too. I just hope there some more people there who got the same situation as mine and tell their story on what the Chase Bank is doing. Maybe... if If there is no $750 application fee or did not approved me from the beginning or if this is not a reputable company maybe i wont trust them... but.. he...they are JPMorgan Chase BAnk. Seattle Washington

You say, "The co-borrowers is, my son, a Postal Mail Handler, who do not live with me, my reason, he only stay with my relatives because of the gas raise but all the mail goes to my house and he still live with me." Look at what you wrote. You say that your son does not live with you, yet in the same sentence you claim that he does. If your application has these kinds of discrepancies, I'm not surprised that they declined the loan. It sounds like your son does not actually live with you, but that you are claiming that he does because his mail is delivered there. The bank is not buying it and I don't blame them. You could probably have gotten away with that a few years ago, but nowadays, loan applications are taken a lot more seriously than they used to be.