JPMorgan Chase & Co. Mortgage department,
Conventional fixed mortgage Settlement process and costs New Jersey
Mortgage Modification completed -/-/-, signed docs and submitted to bank. This was a fixed rate for first 5 years then rate increases almost a point per year for the next 3 years ( Stepped rate ). Less than 30 days later bank sent a new contract with same rate but fixed for 30 years and told me I had to the choice to keep the current or go with the new contract that was provided in - -. Second set of docs were signed as it was a better deal offering fixed rate for 30 years ( no brainer ). The same 30 year fixed rate contract was submitted to - - NJ as official record. -/-/- I received a letter explaining my 5 year fixed rate lock would expire -/-/- and rate would increase by a full point. I explained my situation that the signed contract I have from - - is the one that Chase bank said was the one in force. 4 weeks later ( -/-/- ) Bank said they were not going to honor the -/-/- contract ( Fixed ) and only use the -/-/- ( Stepped ). They also told me this is what they
Please also note they raised my rate - - - instead of what on the stepped contract of a - - - execution date. Chase has come up with so many poor excuses for not honoring the contract I have, also I always get a different story on why they are going with the - contract but no reason why they ca n't honor the -. Please help me get JP Morgan Chase honor the contact that we agreed to 5 years ago
JPMorgan Chase & Co. customer in New Jersey
May 07, 2016
* Source: CFPB Complaint Database
JPMorgan Chase & Co. response to complaint:
Closed with explanation
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