JPMorgan Chase Mortgage Complaint

JPMorgan Chase Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting New York

Lender : Chase Home Finance LLCLoan # -I tried to assume my loan, which servicing by Chase, but received decline which I do not believe was fare and justified. My Bankruptcy was discharged more than five years ago, all derogatory accounts on my credit report were as part of my bankruptcy. After I received my loan modification in -/-/-, I never was late on my mortgage payments, but because of my past bankruptcy my payments were never reported to credit bureaus, which had negative effect on my credit score. I have legal - family house, and according to conforming limit in our area my loan amount can not exceed $800000.00, which if way above of my outstanding loan amount. I 'm single mother with teenager daughter living and maintaining this house after my divorce. During the divorce proceeds house was left to me and my daughter, and court ordered me to complete assumption within one year. My current mortgage is much higher than my property value because we bought this house on the peak of the real estate market and during the recession value of my house has dropped. As of -/-/-, my outstanding unpaid balance around $520000.00 and deferred principal balance $57000.00, and my house marker value around $540000.00. By selling the house I will end up owing the bank substantial amount of money which I do not have. Therefore, to sell this house or even do the Short Sale this will have excessive negative financial effect on me, will affect the credits, reporting canceled debt as income to the IRS and paying taxes under the capital gain, and/or layout money at the closing. I can not sell or refinance my house. I do not see any valuable reasons for Chase to decline me for loan assumption when I 'm a good Chase customer who never miss or been late on mortgage payments. I truly hope that Chase Home Finance will consider working with me and I am looking forward to assume the mortgage so I can move on. Sincerely, - -