It usually takes two to tango and with problems between Chase and its customers, this is often true. What I mean is that it is often the case that customers have done something the either exacerbated Chase stupidity, or created an opening in the first place. For instance, if everyone kept better track of their checking account balance, outrageous overdraft fees and predatory rearrangement of deposits and debits to maximize those fees wouldn’t be a problem.
But that ought to be irrelevant, because really truly good customer service would help you be a better person, not help you be a worse one. But making it easier for people to be late with payments, to miss payments, to borrow too much, to spend more than is in their checking account, that drives profits for Chase and other big banks.
Along those lines we find this story:
The crux of the problem with Chase is that I made a mistake in a payment in January, 2007. I paid the amount of $611.96 rather than the amount of $877.96 that was actually due.
This problem is that Chase did not notify me for 31 consecutive months that they were charging me a late fee of $23.51 for each and every month since 1/12/07 and that a total of $728.81 in late fees was due at that point. The amount has since grown to over $1,000.00.
This is so often the case with Chase, that they simply fail to notify customers of a critical detail that balloons into a bigger problem. A truly good bank would have gone out of their way to contact the customer, find out the reason for the incorrect payment, and try to resolve the problem. If it was simply a mistake and could be easily fixed, a good bank would make sure it got fixed. But to let a problem go 31 months without actually contacting the customer to try and figure out what is going on, is simply ridiculous.
All I can say about this story is, this sounds REALLY BAD, even for Chase.
We were in the middle of a loan mod when we got the foreclosure notice stapled on our home…we called Chase they said to ignore it and we continued with the loan mod. Then a Real Estate agent told me our home WAS sold the end of July 2009. We then again called Chase and they told us that our loan mod was done and we were fine and if it was sold it would be re instated…once again we believed them. Our loan mod documents showed up via Fed ex in August 2009 and we have made our payments until April of 2010 when we were served an Eviction notice by a bank who bought it back in July of 2009!!…Now we had to hire an attorney since Chase was collecting our money and billing us and on paper the house isn’t theirs…it belongs to Federal Home Bank… so now what??? The attorney got the eviction stopped for now but Chase won’t respond to his letters…we still are living here but Chase isn’t getting anymore of our money untill I know where it is going.
It looks like Chase has graduated from petty crimes against its customers to pulling off some serious fraud. Could a big sophisticated bank like Chase really be this inept, or are they seriously getting into simply defrauding people?
IP in this case being internet protocol. When someone visits a website, the web server typically tracks what page they access and where they are accessing from, or their IP address. It is pretty easy to look up an IP address in the global database and see what organization it is assigned to. Which is where it gets interesting when the IP address is from Chase, on a Chase-sucks blog like chasehomefinancesucks.com. Here are the details from Chase’s recent visit to that site:
16th June 2010 09:46:44
21 hours 24 mins 8 secs
IE 6.0
WinXP
unknown United States Returning Visits:
Location:
New York, United States
Jpmorgan Chase & Co. (159.53.110.140) [Label IP Address]
chasehomefinancesucks.com/my-story/
chasehomefinancesucks.com/tag/modification-efforts/
So someone at Chase apparently spent quite some time browsing that site. What kills me though is that they are accessing with Internet Explorer version 6, which Microsoft recently announced they are no longer supporting. Just for the record, Microsoft currently distributes version 8, and is soon to come out with version 9.
If you are a homeowner with a Chase loan and are pursuing a short sale, there is a trap Chase might set that you should look out for. One conscientious real estate agent writes about this in her blog:
After waiting 5 months for approval, my sellers finally received approval from Chase on both a first and second hard-money loan. However, those approval letters contained verbiage that allowed Chase to pursue the sellers for a deficiency. That was unacceptable to the sellers. So, I went back to Chase and requested revised approvals without the deficiency language.
Looks like Chase will try to slip this past unsuspecting homeowners, who are just glad to finally get a short-sale approval. But, if you press them, looks like they will remove the deficiency language.
Low and behold, I received the revised approval letters from Chase yesterday with the deficiency language removed! The letters say: “The amount paid to Chase is for the release of Chase’s security interest, and we will waive the remaining deficiency balance of $XXX,XXX.”
And, her perspective on Chase as a party to a short sale in general is notable:
Some agents don’t want to work with Chase because Chase can take too long to process its short sales.
Here is a sad story of a 125 year old home beautifully restored by a couple who had an ARM loan with contractual limitations on how often the rate could be raised – once every two years. The loan was sold to Chase shortly after it was taken out, and Chase immediately started raising rates and did so every several months, despite the fact that they were not allowed to according to the letter of the loan.
Does Chase just not have a clue about things like this or do they just assume they can clean things like this up with a little lawyering?
I’m not sure I understand what really happened here, but if you take this at face value, the people at this Chase branch are just a bunch of boneheads.
I have been a loyal Chase bank customer for many years. On June 8th, 2010 I went to the Sheepshead bay branch to deposit a check written to my name Joyce Liao. The teller, Maryana Grattan indicated that she felt that there was a problem with the check because I have a Chinese name. Instead of discussing the problem with me she refused to serve me and asked me to leave the bank or she would call security. I asked to talk to the manager and she said that she was the manager. I asked another employee, Demitry Komarovsy, for her name. He responded by grabbing a piece of paper that that I was holding in my hand. I later through the Branch Manager Jason Casal I found out that my account has been closed by the security department without my permission.
Many times in Chase Branches in Sheepshead Bay I have experienced rude service and have had people complain to me while I was shockingly mistreated by employees of your bank. I feel that I have been treated unjustly and insulted by Chase Bank employees Maryana Grattan and Demitry Komarovsy at the Sheepshead Bay Branch. A lady, Sophia Heisley – who was a customer and who witnessed how I was mistreated at the time – told me that she had just filed a complaint for the poor service she received from the Chase Bank a couple weeks ago and would be willing to be my witness, when I file my complaint. I would like to know what Chase Bank will do to improve the service at the Sheepshead branch.
You’ve worked hard, dealt with Chase’s many hoops, and got a short-sale approved. Then a small hitch appears and the sales is delayed by a few days. Too bad says Chase, you have to start all over again.
Bad bad Chase | admin June 20, 2010 | 
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