JPMorgan Chase Mortgage Complaint

JPMorgan Chase Mortgage department,

FHA mortgage Loan modification,collection,foreclosure Illinois

In -/-/- I fell behind in my mortgage payments to JP Morgan Chase due to a job loss and began the process of requesting a Loan Modification. The property had been purchased in -/-/- and the Loan Modification Agreement came in - -/-/-. My complaint regards the terms of the modification ( the Loan Modification Agreement is attached ). My original loan had an interest rate of 7.5 %, which is exactly the rate on the loan modification. I was 17 years into a fixed rate 30 year mortgage, and the agreement is for 40 years, in effect turning a 30 year mortgage fixed rate mortgage into a 57 year mortgage. In good faith I trusted JP Morgan Chase to provide me with the best possible solution ( their words ) for my situation. The intent of the Making Home Affordable Program was to assist consumers, not take advantage of them. I accuse Chase of acting in bad faith, not providing multiple options to prevent foreclosure and undermining the federal government mandate when it comes to housing assistance. I realize that I am just one of many consumers defrauded by Chase and because I was not given a viable solution I went with what I was offered. I probably have paid for this house in full already and as a - year old retiree I believe my hopes of paying off this debt to be nonexistent.