Three New York residents filed a federal lawsuit Tuesday against units of J.P. Morgan Chase & Co., alleging that the bank misled them about their chances of getting long-term reductions in mortgage payments.
The suit highlights one risk of the Obama administration’s effort to save millions of homeowners from foreclosure through loan modifications: The hope of receiving such relief may cause some borrowers to continue making payments, rather than accepting foreclosure and seeking more affordable housing. That could leave them in even worse financial condition after an eventual foreclosure.
The suit, filed in U.S. District Court for the eastern district of New York, says the three borrowers “relied on promises by [the bank] that they would be able to modify their loans so that they could avoid foreclosure” and so “invested their limited resources” in making payments.
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Is there any way to contact the 3 homeowners mentioned above about starting a class action suit against Chase in the way they are not abiding by the Presidnet’s plan to help struggling homeowners with the loan modification program? Also to get the average person not to do business with Chase Bank due to the disgraceful way they’re treating struggling homeowners. Please respond ASAP!
Thank you
There has to be a way to join these 3 homeowners mentioned above & start a class action suit against Chase in the way they are not abiding by federal gov’ts plan to help struggling homeowners with the loan modification programs. Also need to encourage consumers to boycott/withdraw their money from Chase. Please respond ASAP!
Thank you
I went thru a loan mod with a Californis company called First One Lending Corp San Juan Capistrano and was told by to representatives that if they couldn’t get my loan modified that I would recieve my money back the loan modification was denied by Chase after 6 grueling months and now my loan payments have doubled. Please contact me if you can help. 619-277-9447
We have been stonedwalled by Chase now for over two years about our application for a loan modification under the HAMP PLAN. We have filed a detailed complaint with The Office of The Comptroller of Currency, our various political leaders and other state agencies, we live in Missouri. We would love to join a class action lawsuit against Chase. Most attorneys seem to be afraid to take on Chase. Home phone: #314-830-0025