JPMorgan Chase Mortgage Complaint

JPMorgan Chase Mortgage department,

Other mortgage Loan servicing, payments, escrow account California

In -, I obtained a negative-amortization loan from Wamu and paid my property tax and insurance separately. In -, I had fallen behind on property taxes, and my property value had also decreased approximately 40 % due to the housing market collapse. I filed an Appeal with the County Assessor to reduce my taxes in - -, and while awaiting a hearing date, fell even farther behind. I was finally notified of a tax hearing date set for - -, -. In - - I was notified by Chase that due to my property tax arrears, they were establishing an escrow account for me. However, their calculation took my entire arrears of $11000.00 and gave me only 12 months in which to pay it back. I had been in communication with Chase already, requesting they let me resolve this with the County Assessor at my upcoming hearing. The - assessor 's office permits a FIVE year payback of property tax arrears, causing my mortgage payment to only increase by an affordable $200.00 per month.


notices on my mortgage, at which time I was forced to look into a loan modification, or lose my house to foreclosure. I paid my - - mortgage payment of $1400.00, and hoped to resolve the tax matter during my Appeals hearing in -. Chase personnel had initially told me they were going to research this situation, but never did. They even refused to accept my - mortgage payment, placing those funds instead into a suspense account. The tax hearing was initially to request a reduction in property taxes reflecting the actual reduced property values, after a 40 % decline in our area. My annual tax in - was $7200.00, and in - was still grossly overstated. At my hearing I received an additional small assessment reduction, but within - month also received a complete " NEW '' assessment from the county reducing my property value to $370000.00 from $570000.00. The additional problem with Chase 's escrow account calculation is that they were still using the HIGHER outdated annual tax value from - to compute my monthly escrow payment. Once the property value was reassessed to $370000.00, my annual tax amount fell to only $4800.00 annually instead of $7200.00. This is a significant reduction which Chase should have recomputed. However, in violation of RESPA, Chase has continued to compute my escrow amount based on - taxes to this day. I have subsequently attempted to obtain a loan modification twice during the past six years. I am still experiencing dual tracking in violation of -, and am attempting to obtain a loan modification, while the monthly bank statements sent to me from Chase include the E-ACT same erroneously calculated amount due of $590.00 per month for my property taxes, still based on - tax values. Despite sending nearly a dozen Certified letters to Chase Executive offices and escalation managers, and - - himself regarding this matter, including the - new - 's, and - escalation managers, NO ONE at Chase will address or fix this error. Most significantly, when I purchased my home I put $230000.00 down on a $570000.00 purchase price - approximately 40 %. Until the property tax problem, I had never missed - single mortgage payment. Currently I am awaiting a response to a QWR letter I sent Chase on - -, -. They have sent me - extension request letters since then, and still have received nothing back. Thank you so much for providing this invaluable assistance. I have extensive documentation supporting my statements as well, and can provide this information upon request.