JPMorgan Chase & Co. Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

JPMorgan Chase & Co. Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Virginia

Chase used to have an online option that allowed customers to schedule bi-weekly payments. They no longer offer that option. If I just pay the amount due every month on time, it takes 30 years and I pay approx. $260000.00 in interest ( $ - loan ). If they allowed me to make bi-weekly payments, I pay off the mortgage in 25 years and only pay $210000.00 in interest. I pay the exact same amount every month, just more frequently. That saves me money. That 's why Chase does n't allow me to do it. That should not be allowed.

JPMorgan Chase & Co. customer in Virginia
May 05, 2016

* Source: CFPB Complaint Database

JPMorgan Chase & Co. response to complaint:
Closed with explanation

Created with Highcharts 4.2.3JPMorgan Chase & Co.Complaint HistoryComplaints2/20163/20164/20165/20166/201611/2016010203040Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3JPMorgan Chase & Co.Loan servicing, payments, escrow account93.3%5.7%1.0%Closed with explanationClosed with monetary reliefClosed with non-monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageLoan servicing, payments, escrow account0.2%5.8%5.1%1.1%2.3%4.0%80.3%1.2%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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