JPMorgan Chase Mortgage Complaint

JPMorgan Chase Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure Virginia

My husband and I have owned a rental property for over twelve+ years. The mortgage was an ARM and the amount went up over the years that we had to pay monthly. The other expenses of the house also increased quite a bit, to the point where we were no longer able to pay the mortgage. Over the years we spent all of our savings trying to pay the mortgage thinking it would work out but it did not. We had to default about a year ago ( - 2014 ) and applied for a loan modification. We were denied the loan modification because the lender ( Chase ) refused to consider the rental income from the property for no apparent reason. All they will say is that this is their " guideline. '' Also they insist on imposing a - % " vacancy rate '' on other rental income we receive on other properties, when we have never had a vacancy rate anywhere close to that. This results in our income appearing to be vastly lower than it really is. We have now applied twice for a loan modification and were denied a second time for the same reason. Chase will give no explanation as to their reasoning. They seem to be determined not to give us a loan modification. They make up their own rules to suit their desired outcome. We are not asking for any debt forgiveness, just a lower mortgage payment. We have no idea why it would be so hard to give a loan modification. It would seem preferable to a foreclosure or short sale for them, but perhaps they have some hidden reason why they want our house. They are completely unreasonable and have been very difficult to deal with. They call us constantly, harassing us, when we were actually waiting on their decision. I take their calls and talk to them and it is always a different person who has no idea of the specifics of the situation, they are just calling to harass us.