Complain about a product or service

Chase Mortgage

shirley of winchester, WI August 14, 2009

Began a refi on a 28,000 current mortgage we had w/Chase on 5-13-09. We were attempting to increase the loan 25,000. The appraisal fee was 750 which Chase charged our credit card co (to date that is all we have paid them). Mr. Brown said it would take 45-60 days to process and we locked in our interest rate at that time.

It is now 8-14-09 and we still have not closed, the bank has verbally extended our lock in date for 30 days(beginning 8-4) since they could not process on time. They say the underwriting dept is way behind and still processing loan apps from 3-09. My question is why do they still accept loan apps if they cannot in good faith process them in a timey fashion. They have taken my 750 and how many other people have they taken their loan app fees with no ability to process the loans.

I am very upset with how I have been treated by Chase and don't seem to be able to do much about it. The ball is in their court and I either walk away or continue to be mistreated by them. Either way they have my 750. The banks should not be permitted to hold onto these fees if they cannot process within the stated time. Their total settlement charges amount to over 3400 for a total loan of 56500. Doesn't that seem a little extreme.

I have checked around at local banks and they stated their total settlement charges would be 1500-1900 at most. Chase is taking advantage of me and how many other people at a time when they should be thanking the taxpayers for their bloated bonuses. I want the 750 fee refunded and be able to reconsider if I want to try again someplace else. This country is in real trouble and the banks are to blame.

I needed the money to do repairs on my home before the winter and cannot because they won't process the loan. I could go to another bank, but they won't accept the May 09 appraisal, so they want that fee paid at time of application. Where does it all end?

Joseph of Plymouth, MA August 13, 2009

Last year I received a foreclosure notice from Chase. My payment comes directly out of my account and never assumed there could be an issue. After contacting them, they said there had been an increase in escrow. They never notified me of this and let it build. Given the amount of increase, the math did not add up, and they were asking for a large amount of money. In that I was close to foreclosure I paid them 3,300.00... even though I never knew what it was for.

In June of 2009 I recd an escrow notice that projected that this years escrow costs would be less. Now I have received another threat of forclosure with little time to resolve the problem. After two hours on the phone, I find there was another increaseof 305.17 a month. They say I was current up until the first of the year, and now have accumulated the amount of that increase. This would mean I would be 2,136.19 short. Unfortunately, without explanation, they are requiring a payment of 6,583.07!

If my escrow charges are less that last year I cannot even begin to understand a more than 3,600.00 increase... but the amount of 6,583.07 is insane. This means I will have paid almost 10,000 in unexplained increases since last year! My only other option is lose my home. When I did a search of complaints about Chase, I found this site... with many similar stories. is there anything that can be done to get this company under control!

Donna of Tennessee Colony, TX August 13, 2009

First, we tried to refinance using Countrywide Mortgage back in December 2008. We paid for an appraisal on Dec. 31st. Then Countrywide decided they needed a subordination agreement from Chase Home Finance (who we have a first mortgage and HE line of credit with). We were told that it would be a 2 week turnaround for the agreement and we had to pay 250's for it up front.

When agreement was not rec'd in that time, both Countrywide and I called Chase's subordination dept. and was told they couldn't find the orginial request and so another one was faxed again to them, this now being the middle of February. This time we were told by Chase that it was now a 6 to 8 week wait for that agreement to let Countrywide Mortgage assume first lien and keep the HE Line of Credit as second lien. We have since been told by the title company that this was not really needed. Countrywide had already extended our loan rate several times, and now was charging us more points due to the wait.

I called Chase Home Finance office in Tyler Texas, and talked to Sr. Loan Officer Brenda P. I explained our situation. She told me she could get us a better rate but that we would have to pay 750 up front, and that we would be refunded 350's of it at settlement. We withdrew our application with Countrywide on April 1st., and went with Chase, believing that since we already had our mortgage with them, and had just recently done a HE Line of Credit, that they would be able to complete our refinancing in a reasonable length of time. Since we were going out of state in middle of May and be gone for 2 months, I was told by Ms. P that we would probably be able to settle by middle of May, before we left.

By middle of May we were told by Ms. P that we wouldn't be going to settlement until probably middle of June, as Chase was back logged with refinances and short on underwriters (as in being stressed out and quitting, and also the lack on Chase's part to hire enough people to do the job). We returned on July 19th., and after trying to get in touch with Ms. Pottkotter several times, she finally called me back to explain that now Chase Underwriters wanted to freeze our HE before they would proceed further and that it would be only a few more days before we could have settlement. This was the last straw for us. We have paid out of our pockets 1,480 already, 7 months have passed and we still have not been able to go to settlement. We told Ms. P on July 29th. we no longer wanted to go through them, as it has been a costly and lengthy unreasonable time to complete this transaction.

Our complaint is that we would not have had to put out so much money, nor missed out on some really great interest rates if it weren't due to Chase Home Finance taking over 7 months of handling this refinance, and still after 7 months was not ready to go to settlement. I feel that we should be reimbursed for the fees that we paid. We cannot go to another institution or mortgage company without further expenses (another appraisal & etc. fees). Seven months is totally unacceptable for any company or customer to wait.

Brian of Novato, CA August 12, 2009

I purchased a home for 420K with 50K CASH down payment. The value has dropped to 170K. My wife has stage 4 cancer. We had to move to Marin county to be close to family. I tried to short sell my old home. Countrywide (Now bought by another bank) agreed to the short sale. CHASE MORTAGE, the second mortage behaved in a very evil fashion. They get NOTHING if I foreclose because my loan was purchase money. They said if they did not get 20K of the 57K loan they would let the house foreclose and tried to scare me. Is anyone aware that banks who were bailed out could care less about letting homes foreclose? Why should I get punished further? I lost 50K on a house that was priced based on rampant bank fraud. Now my credit is ruined. I had an 800 score! Why must I not only lose all my money and also ruin my credit for things which were not my fault!!!!! SHAME SHAME SHAME ON EVIL GREEDY BANKS. THEY MUST BE EXPOSED.

Eric of Croton, NY August 12, 2009

I had a mortgage with WaMu, and I had refinanced that in the past with no problems. After Chase bought WaMu interest rates dropped to the point where it became worth considering refinancing again. I called Chase and I described my easy experience with a WaMu refinance and was told that it would be almost as quick and easy, and I just needed to pay a 750 fee.

The process was neither quick nor easy. Every step was dragged out for weeks. I would get a phone call from the Chase rep asking me to call her back urgently. I would try to call for a week before I finally got her on the phone. She would request additional documents, I would find those documents. Then she would tell me they didn't need those documents, they needed different documents and I found those documents. I sent those documents in, she sent them to underwriting. It took two weeks for them to get back to me and then repeat this whole process of asking for additional documents.

In the end they turned me down because my HOA has insufficient fidelity insurance. This is an issue I could have worked with the HOA to resolve, but by the time I was given a decision the rate lock had almost expired and it was too late to do anything. When I started the application I was told by someone that "Chase is not giving anyone any money. They will drag it out until your rate lock expires if they can't find an excuse to turn you down." This is pretty much exactly what happened.

When I talked to the HOA insurance agent after the denial he told me that Chase was using this as an excuse to deny a lot of people, which leads me to believe it is something that could have been ascertained at the start of the process and could have saved me months of time and frustration.

Erica of Woodridge, NY August 9, 2009

My morgage was sold to chase about one year and a half ago, since then it has been nothing but headaches. I am a single mother who with children. I have a fairly good job, pay all my bills on time but CHASE HOME Morgage (rapers) is trying to ruin me and my good credit by in creasing my monthly morgage from 800.00, to 1342.00. They have increased my Escrow and charged an additional payment for Shortage Spread. No call, No alert, no nothing..I just signed up today for on-line service. I cannot afford to pay this amount. I am on direct pay and they came in and stnached all that money out of my account. What if the money was not there then they would have been setting me up to lose my home. I dont know what to do next, but contuinu to call them or reach out to agents that might be able to help me. Hopefully someone reading this could help.

Michelle of citrus heights, CA August 9, 2009

AS OF 8-7-09' STACY has help me the most by putting a temp. stop on the elligal forclosure that has been started.she tells me chase still has not accounted for my payment paid jan 09",june 09, or my payment made in july 09. I'm convinced chase is embezling funds and for sure mortgage fraud to more than just me. its been 16 months ago that chase paid twice the amount of prop. taxes which shorted my escrow acc. and they have never fixed thier mistake.

they continue to take funds from somthing called "corprate advance" without my approval.portions are unaccounted as to where the money went.how can i collect the interest chase has earned off every payment from oct 08" through aug 09' that sat in a "suspense account"? i have been told at least 50 or 60 times by chase office that they promise to fix thier errors.well i've been waiting over a year and they are dead set on forclosure so they don't have to fix thier mistakes.they have destroyed my credit and still continue to charge me 1,606.72 and thousands of dollars in misc. fees. when in fact my monthly statement says i owe 1,461.83. thats an over payment of 144.99 for pat 11 months.if there is an attorney out there that reads this and willing to help me please call or email me.

John of Chester, NJ August 7, 2009

Have had a 8.5% WAMU mortgage for several years for 200k on a million dollar estate. Wanted a lower rate in March 09 to help lower our payment in these tough economic times. Called Well Fargo and was APPROVED at 5.6% Then called current loan holder WaMu and was referred to Roger P of Chase Mortgage. Submitted all docs, was APPROVED at 4.6%. Roger Called and said "Your Approved" I need 750 for an inspection and closing fees. Locked in at 4.6%. Fine. Gave him a credit card and was charged the 750.

Now AUGUST! I emailed Roger. Why hasn't this loan taken effect? Been asking for months. We're still paying 1555.00 a month on the WaMu loan in all interest that we will never see unless we are credited the difference from the new loan. 1026.00

Roger emails back. We're missing schedule B from your 2007 tax return. Resend everything. We did. Now he says there is not enough equity in the home? WHAT? We had the house appraised by a Realtor yesterday. In this bad market we'd get 650,000.00 on a 1.4m estate. The current loan is only 200k. And we have ALWAY paid the WaMu loan on time, in full and continue to do so. I complained. He called and said he'd work on and let us know by Friday, tomorrow.

Work on it? It's been 5 months! And he's told me that before, twice a month for 5 months now. I told him I was going to a lawyer and writing the media. That's when he responded and said he'd tried to work this out.

RUTH of Canyon Country , CA August 6, 2009

First, I was contacted by mail by Chase to provide Flood Ins for my condo Feb. 6, 2009. I faxed 1st copy feb. 16, 2009,A second copy was faxed on April 21, 2009 and I also mailed a copy. Another copy was sent on June 9, 2009. Chase went ahead and placed Insurance on my account Even though I had Insurance. Another call And fax was placed on 7-13-09.

I finally called back on 8-5-09 and talked with a supervisor from the insurance department A. Davis and she said that the Lender placed insurance has been removed on the Insurance side, she transferred me over to Jenneta on the Chase costumer setvice side and there was no request ever done to clear this insurance issue.

So Chase had sent me a revised escrow for new payments in which they charged me the insurance premiums. I made a payment in July 2006 for 838.00 (803.64 REGULAR PAYMENT+ 33.58 late fee) this payment was not credited to my account it ended up in some escrow account, this made my payments look 2 months late.

I called again on August 5, 2009. And I was told that a new escrow with correction will be sent in 5 days, that The problem was corrected. I called again today 8-6-09 and spoke with Casey a customer service rep. She said that the 838.00 for the July payment still had not been moved, she said she would put in a work order to have it moved to the proper account.

This has been going on for months, I have never been more than a few days late on my mortgage and this mess up is going to cause me credit issues. I need to know what I can do to fix the problems this company keeps causing. I can't even go to another bank and try to get another loan to get away from Chase until this mess is cleared up.

Cheryl of High Bridge, NJ August 6, 2009

We have lived in our home 32 years and pay our taxes monthly. Somehow Chase paid our quarterly taxes in Aug 08. We continued to make our town tax payments and discovered the problem Jan 09. Chase Rep told us to pay Chase 445 a month(in addition to mortgage payment) to make up for their tax advance, which we did and have one payment to go. We still continued to make our tax payments to the town and are now paid through Nov 09. However we now find that the 445 a month payment was not applied to the advance but instead was put into escrow for future taxes. The result is overdue escrow, overdue advance and mortgage payment shortage.

In essence our 500 per month mortgage was adjusted to 1500 per month to include escrow for future and payoff of past taxes. All our payments are done electronically and we have never been late on our mortgage! All documentation of mortgage payments, tax payments and tax advance payback were provided to Chase. They are now refusing our electronic payments and will only accept a check and are threatening foreclosure!.

We only owe them remaining balance on the tax advance and that is it!!!! but Chase has rejected our electronic checks. All mortgage payments have been on time, our taxes are paid through November, and our 445 per month payment should have merely reduced the amount of the tax advance. There has been no response to our correspondence with documentation. And we can not sit with a representative to resolve because that can only occur in California. Do we need to incur the cost of an attorney? We are retirement age and don't want to do that. Please advise how we might stop the foreclosure, correct the application of funds and get it off our credit report. Thank you.

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