JPMorgan Chase Mortgage Complaint

JPMorgan Chase Mortgage department,

Home equity loan or line of credit Loan modification,collection,foreclosure New York

We are filing a complaint against Chase. We have been misled and given a complete runaround for the past 12 months. Chase has not processed the claim with any integrity or professionalism. We have provided the same documents over and over, only to have the bank reassign it to numerous representatives that are not current on the application status. It 's a basic stall and delay technique to not provide help or modification options. Our first mortgage was modified and we are current with payments. Our family needs the 2nd loan modified so we can continue paying our loans and stay in our home. The line of credit ( 2nd ) Chase begged us to take, was set up as interest only payments for 10 years and after that period would revert to principal and interest. Our payment went from $560.00 per month to $1600.00 with an interest rate today of 2.74 %. This rate will keep rising as interest rates go higher. We are appealing to you for help as Chase seems to


love. The option for " short- sale '' is unacceptable. What sense does that make? Chase is willing to sell the house at a loss, but will not help us stay in our home by qualifying us for a " Chase Modification with Possible Principal Forgiveness. We have been Chase costumers for a very long time and would hope that Chase whom was responsible in soliciting and approving the " value '' of the 2nd mortgage would have some responsibility in helping us restructure the loan. The 2nd loan was used to construct an addition to the home. We did not use it as a piggy bank for vacations. The property value has dropped by - of what is owed and now we find ourselves in a very difficult situation. This has been a drawn out process. We have received countless letters from Chase with offers to " help '', but it appears that Chase is committed to " NOT HELPING '' home owners stay in their homes.