JPMorgan Chase & Co. Mortgage Complaint

JPMorgan Chase & Co. Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Rhode Island

In -/-/- my home at - - - - -, NY, suffered catastrophic water damage from a leaky pipe. We filed an insurance claim with - and received payment. As per the terms of our mortgage ( METLIFE ), the check was written out to us and the mortgage company. We hired a contractor ( - -, - - ) to repair the damages ( check was written out to me and - - ). Fast forward 2 years, the contractor quit owing us at least $40000.00 and the home maybe - completed. We successfully sued him in court, but our new mortgage company, JP Morgan Chase who purchased our loan in -/-/- refuses to pay us any money from our restricted escrow account, despite being provided all the documents from the lawsuit. They claim that we can not access the money because we have not met the terms of building completion and that we sued the contractor and proceeds are payable only to us. Because of the lengthy law suit and lack of progress on the home ( the structure needs to be torn down and rebuilt because it will not pass building code ) our insurance carrier (


acceptable. Only loan available to us in this situation is a new construction loan, where the money borrowed would be rolled into our current loan. We have $55000.00 in escrow, including the depreciation which we were able to have our insurance provider ( - ) forward to our mortgage holder ( JP Morgan Chase ). We have tried to work with our mortgage holder repeatedly to access the money in restricted escrow, but all we keep facing is roadblock after roadblock. They cancel inspections, ask for additional paperwork which we provide, and will not engage with us concerning this matter. I specifically ask to have " management '' return my calls so we can discuss the case, but I only get an insurance representative who knows nothing about my case except what they read in the account notes. I feel like they want us to default on the mortgage so they get the property plus the restricted escrow and the interest. **Of note, we have put a considerable amount of money into the home to make it weather proof - paid to complete the - floor so the roof tresses could be installed and a roof put on. It was only after we did this that both a home inspector and a structural engineer found the home rebuild unsatisfactory. The judge did not award us any of this money. We liquidated our IRA, took a loan against our car and wiped out our bank account to finance the repair of our home. We have complied with everything Chase asked us to provide, yet the issue remains moot.