Are you being screwed by Chase? Are you being used and abused during the loan modification or short sale process and want to know your rights?
Welcome to the club of unhappy homeowners, abused Chase clients and never ending stories of lies, lies and more lies. Heck, don’t take my word for it, there are over 11,000 posts of actual homeowners here in this forum that will testify to this fact.
I believe now may be the time for you all to unite and fight back using the tools that government protection agencies and the law has provided you, but what banks do not want you to know. I am here to let you know about these by copying and pasting information from HUD, lawyers and bankers.
Do you want to knockout the heavy weight, Chase?
The POWERFUL Qualified Written Request may help you!
I am also asking Chase clients to email their city, county, state and law enforcement representatives as well as local media about their Chase nightmare. As mentioned before they own CNBC, NBC etc so most likely avoid these local stations and instead try cable or CBS which is owned more by Bank of America.
Email CC Chase executives on ALL COMPLAINTS & QUALIFIED WRITTEN REQUESTS
Make sure to include your loan number and use the forum, LoanSafe.org as your platform to expose their BS and let them know we are UNITED:
Jamie Dimon = jamie.dimon@jpmchase.com
CEO Of Chase and Worth Billion$. Looks like he is ready to fight homeowners in this picture. The question is, “Are you ready to fight back?”
david.b.lowman@jpmchase.com- David Lowman = This is the dude that Dimon has placed in charge of loan modifications for Chase and the guy you ALL need to hammer for HELP!
CC these guys on complaints and Qualified Written Requests to let them know you are getting screwed by Chase and their employees!
What does the law say Chase has to do if you send a Qualified Written Request?
The Federal Trade Commission (FTC) and the Housing & Urban Development (HUD) say this!
Inquiries and Disputes
Under RESPA, your mortgage servicer must respond promptly to written inquiries, known as qualified written requests (see Sample Complaint Letter to Lender). If you believe you’ve been charged a penalty or late fee that you don’t owe, or if you have other problems with the servicing of your loan, contact your servicer in writing. Be sure to include your account number and clearly explain why you believe your account is incorrect. Your inquiry should not be just a note on the payment coupon supplied by your servicer, but should be sent separately to the customer service address.
Within 20 business days of receiving your inquiry, the servicer must send you a written response acknowledging it. Within 60 business days, the servicer either must correct your account or determine that it is accurate. The servicer must send you a written notice of the action it took and why, along with the name and telephone number of someone you can contact for additional assistance.
Do not subtract any disputed amount from your mortgage payment. Some mortgage servicers might refuse to accept what they consider to be partial payments. They might return your check and charge you a late fee, or claim that your mortgage is in default and start foreclosure proceedings.
This is the banker talking here folks (From ABA Banking Journal):
Scare Mail: Beware of ?QWR?s
The letters often assert the existence of predatory lending and/or fraudulent activities that have hurt or negatively affected the borrower. The letters may make detailed demands for enormous amounts of information relating to all aspects of the loan’s origination and processing.
At other times, the letters may be simpler, asserting only slight oversights in the borrower’s escrow account calculation.
In all cases, the letters are marked as “Qualified Written Request” under Section 6 of RESPA. Whereas mere customer inquiries or complaints are not generally worrisome in the regulatory sense, the “QWR” label stirs legal consequences that servicers and lenders cannot ignore.
Bankers need to be prepared to properly handle this type of correspondence, and be able to distinguish between abusive or harassing letters versus those communications that carry legitimate consumer complaints and that are valid inquiries under federal law.
So there you have heard it. This lawyer FOR THE BANKS is saying they better pay attention! Now the questions is, “Are you?”
This is from HUD:
http://www.nls.gov/offices/hsg/ramh/res/reslettr.cfm
Sample Written Complaint to Lender
The following is a sample qualified written request from you, the borrower, to a lender. Use this format to address complaints under the Real Estate Settlement Procedures Act (RESPA). Be sure to read more about RESPA, and your rights under this Act, elsewhere on the RESPA site.
Attention Customer Service:
Subject: [Your loan number]
[Names on loan documents]
[Property and/or mailing address]This is a “qualified written request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA).
I am writing because:
Describe the issue or the question you have and/or what action you believe the lender should take.
Attach copies of any related written materials.
Describe any conversations with customer service regarding the issue and to whom you spoke.
Describe any previous steps you have taken or attempts to resolve the issue.
List a day time telephone number in case a customer service representative wishes to contact you.I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.
Sincerely,[Your name]
REMEMBER: This letter SHOULD NOT be included with your mortgage payment, but should be sent separately to the customer service address.
You SHOULD continue to make the required mortgage and escrow payment until the request is resolved. You may bring a private right of action under Section 6, if you suffer damages due to the lender’s servicing of the loan. See the RESPA statute and regulations.
Mortgage Servicing: Making Sure Your Payments Count
Fair Debt Collection
By law, a debt collector is a person who regularly collects debts owed to others. Your mortgage servicer is considered a debt collector only if your loan was in default when the servicer acquired it. If that’s true, you have additional rights that you can read about in the FTC’s brochure “Fair Debt Collection.”
Your Credit Report
Many mortgage companies provide information about your payment history to credit bureaus, companies that maintain and sell consumer credit reports — which contain information about your credit payment history — to other creditors, employers, insurers, and businesses. Both the credit bureaus and the information provider have responsibilities for correcting inaccurate or incomplete information.
If you believe that your mortgage servicer has provided inaccurate information to a credit bureau, contact the credit bureau and the servicer. Tell the credit bureau in writing (see Sample Dispute Letter to Credit Bureau) what information you believe is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts, and explain why you dispute the information, and request deletion or correction. You may want to enclose a copy of your report with the items in question circled. Send your letter by certified mail, return receipt requested, so you can document what the credit bureau received. Keep copies of your dispute letter and enclosures.
Credit bureaus must re-investigate the items in question — usually within 30 days — unless they consider your dispute frivolous. They also must forward all relevant information you provide about the dispute to the information provider. After the information provider receives notice of a dispute from the credit bureau, it must investigate, review all relevant information provided by the credit bureau, and report the results to the credit bureau. If the information provider finds the disputed information to be inaccurate, it must notify all national credit bureaus so they can correct this information in your file. Disputed information that cannot be verified must be deleted from your file.
If your report contains erroneous information, the credit bureau must correct it.
If an item is incomplete, the credit bureau must complete it. For example, if your file showed that you were late making payments, but failed to show that you were no longer delinquent, the credit bureau must show that you’re current.
If your file shows an account that belongs to another person, the credit bureau must delete it.
When the re-investigation is complete, the credit bureau must give you the written results and a free copy of your report if the dispute results in a change. If an item is changed or removed, the credit bureau cannot put the disputed information back in your file unless the information provider verifies its accuracy and completeness, and the credit bureau gives you a written notice that includes the name, address, and phone number of the provider.
Also, if you request it, the credit bureau must send notices of corrections to anyone who received your report in the past six months. If a re-investigation does not resolve your dispute, ask the credit bureau to include your statement of the dispute in your file and in future reports.
In addition to writing to the credit bureau, tell the servicer in writing that you dispute an item. Include copies (NOT originals) of the documents that support your position. If a servicer specifies an address for disputes, it is important to send your dispute to that address. If the provider then reports the item to any credit bureau, it must include a notice of your dispute. If you are correct — that is, if the disputed information is inaccurate — the information provider may not report it again.
Research Links:
FTC : http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea10.shtm
HUD: http://www.nls.gov/offices/hsg/ramh/res/reslettr.cfm
http://www.ldnlaw.com/mortgage_loan.html
http://www.boingboing.net/2008/03/29/chase-mortgage-leake.html
Here’s my latest Jamie Dimon/Chase story as written to the Huffingtom Post which I later learner here, is owned by Chase, so it seems…
“Hello,
I am writing you to see if you would be interested in a follow-up story regarding certain comments made by JP Morgan Chase CEO, Jamie Dimon. In an interview with The Huffington Post’s Marcus Baran in February 2009, Mr. Dimon said “I don’t think just because someone’s underwater they say I don’t have to stay there. But they’re supposed to pay the mortgage, and we should teach the American people, you’re supposed to meet your obligations, not run from them. Because you have a mortgage doesn’t mean you should run away as it goes down.”
Well, it seems as if Mr. Dimon’s bank does not follow such principles. Unfortunately, I am one of the many unemployed in this country, despite all efforts to find employment, yet have still managed to pay my bills on time, including my mortgage payments. Thank God for my family, who have helped us through these trying times. Despite family assistance, I am going further into debt as there simply is not enough money at the end of the month to support my family, but I deem this to be the lesser of two evils at this time as I wish to keep my good credit rating. So, that’s my situation in a nutshell.
The issue I have with Mr. Dimon pertains to how his comments made to The Huffington Post conflict with the policies of Chase, my mortgage holder. I have been trying for almost seven months to get a simple forbearance from Chase only to be shuffled around from dept. to dept. always resulting in the same negative response. I have spent countless hours submitting and resubmitting documents that were already submitted. I have spent many hours on the phone with various members of Chase only to be continuously turned down for forbearance and remodifications, for various reasons. I have spent the past six weeks or so dealing with Jamie Dimon’s assistants and the Executive Response Group only to receive the same response, “we cannot help you unless your situation changes”. Ah, what needs to change you may be wondering. Well, Chases’ Loss Mitigation Dept. will assist me if I do not pay my mortgage. That’s right, Chase will help me providing that I refuse to pay my mortgage but as long as my mortgage remains current, there is nothing that Chase will do. Herein lies my issue and again, it’s not that I can afford my mortgage it’s just that I am going further into debt to pay it.
Mr. Dimon said “But they’re supposed to pay the mortgage, and we should teach the American people, you’re supposed to meet your obligations, not run from them.” yet his bank is telling me that if I do not pay my mortgage I can get assistance. Now, I am not looking for something for nothing but only a forbearance, to be paid at a later date or loan remodification of some sort, as has been made available to many to help through these trying times. I have tried to get Mr. Dimon on the phone yet he will not take my call. I am told that he knows of my situation yet he will not explain the inconsistencty between his statements and his banks’ policies.
I want to know why I am being penalized for paying my morgage on time when the CEO of the company says that “we should teach the American people, you’re supposed to meet your obligations, not run from them”, yet by meeting my obligations. I am being refused a forbearance. I would like to be able to pay my bills on time, as suggested by Mr. Dimon, so as to maintain my credit scores and still receive some basic assistance available from Chase. Or, I would like to see Mr. Dimon amend his statement to that which represents the policies of his bank. Something to the affect of “Although we should teach the American people, you’re supposed to meet your obligations, not run from them, we at Chase will only help you if you do not meet your obligations and under no circumstance will we offer you any of our readily available assistance if you pay your bills to us on time.”
This to me would be much more accurate. But that’s just my humble opinion. So, to put it plainly, would you be interested in helping me by calling out Mr. Jamie Dimon?
Thank you and I look forward to your response.
Regards,
Alan”
I to have had pretty much the same problems as above. I get the run around from one department to another. In regards to lowering my payment, interest rate or whatever. They to tell me they can’t help me until my situation has changed. Mean while they harrass me every single day, thinking if they harrass me long enough I will pay the mortgage that is behind.
I don’t believe it’s only Chase, it’s all of them.
Join NACA in its lawsuit against Chase. They will try to help you file your own lawsuit against Chase. See the following link for more details:
https://www.nacalynx.com/nacaWeb/press/chase20101201.aspx
I have been applying since May of 2009. I have gotten the ultimate run around. they are so full of s… it’s ridiculous. Every single person says something different. we did forebearance, it put $12,000 on our backs. we are paying that back over 5 years. it’s insane.