Category: Ineptitude

Chase cash-out refinance but money not available

Here is a letter I sent Dimon (names omitted).

July 31, 3013

Dear Mr. Dimon,

We closed one week ago today, July 24th, on a refinance of our mortgage. We have yet received one penny of the cash out we were due and it looks as if we won’t be receiving it anytime soon. The incompetence of Chase Mortgage and Title Source, Inc. are going to cause us to default on a contract to buy another property and cost us thousands of dollars.

I have just filed a complaint against Chase Mortgage with Jeff Atwater, Chief Financial Officer of Florida.

This refinance has been going on since June 10th, seven and one half weeks! We have had our mortgage with Chase for nearly 16 years and have never been late on a payment. We have excellent credit ratings.

This process has been has been insane. Progress was held up for a week or more at one point because someone in the chain of command wanted to know why my husband moved out of the house he shared with his ex-wife 26 years ago! The scrutiny we were put through was crazy and went on for so long.

Finally, we reached closing last week and thought we had at last, reached the finish line. Then we were told there was a 72 hour right of rescission on refinances. I wish they had told us earlier in the process so we could have planned accordingly.

We waited the 72 (business) hours. On Monday, July 29, the mortgage banker, ___ ___ called and said the money should be in the bank and if it wasn’t, it should be there by the close of banking hours on that day. It wasn’t. It still wasn’t there on Tuesday.

On Tuesday afternoon I started looking for our money. I called the bank and Mr. ___ was in training all day and the bank manager is on vacation. Fortunately, the girl I spoke with told me the money had been transferred to Title Source on Monday. I called them and spoke with someone named ___. Ironically, her title is “Delay Analyst.” I don’t know if that means she tries to figure out ways to delay payment but that is what happened in this case.

It seems we forgot to sign a document stating that we lived in the house – the same house we have lived in and which has been financed by Chase for the past 16 years!

Will you please see if you can get us our money? I’m sure we are paying interest on it already and would love to have use of it.

Chase loan mods still not working

I recently “completed” a modification program but when I tried to schedule my August payment I was told the system would not allow a payment…so none of the agents would take it. I was promised a call-back IF they could figure out how to override the system. You numbers are not current so I did more research and found this: Media contact: Chase,  Amy Bonitatibus, 614-601-0340, Amy.m.bonitatibus@jpmorgan.com

Wrong bank statement? Chase doesn’t care

From a reader:

I called them 4 times and once was passed on to a supervisor who told me just to ignore them. She said there is nothing i can use from receiving someone else online bank statements so just to put it in my junk folder. I never have and never will have an account with chase but they dont seam to mind sharing their clients account info with me.

Timing and “planned” outages

From a reader:

I’m speechless.  It’s one day before income taxes are due, and Chase is offline for two days doing major (planned) system upgrades.  So basically, I can’t find out how much money is in my account until Monday.  But they’re sorry for the inconvenience!

No mobile, no customer service by phone, and I’m not sure if you can get info online because they insist I’m on a new computer (I’m not, but I’m using my *mobile* hotspot, and they don’t recognize the IP address) so they want me to verify my login information – by text, voice, email, or customer support call – but none of those things are working!

Ack.

Chase: your results may vary

One frustrated customer tells us this:

My financial adviser from Apple bank and I have been unsuccessfully trying to roll over a small IRA from Chase for 3 years now. Forms that have been filled out over and over again while a Chase representative was on the phone giving us detailed instructions that we religiously followed. Every single time the forms came back with this or that supposed problem. There is no doubt in my mind that Chase has not been acting in good faith and simply doesn’t feel like forking my money over. As a last attempt we requested the transaction to be processed as a rollover in form of a check made out to me. That has now been screwed up and I have to pay taxes on the amount that is now no longer part of my retirement. I’m beyond mad and advise all my friends to take their money out of Chase.

Chase mistake cause of foreclosure; help John’s mom keep her home

Join John’s petition to help his mother keep her home, which she is in danger of losing due to Chase’s mistake in calculating property taxes.

Chase’s current practices preys on widows or widowers of borrowers who own homes with loans taken out by their deceased spouse. These practices are also callous and cause unnecessary mental anguish to people who lose their husbands or wives.

My mother has lived in her home for almost 24 years, including her entire 19-year marriage with my step-father, who died in 2008. She was late paying her real estate taxes in 2010, and her lender Chase began escrowing taxes but made a mistake in their calculations and almost doubled mom’s payments instead of just increasing by $90 per month as they should have. My mom couldn’t afford the doubled payment, and tried to tell Chase they were collecting too much for taxes but all their associates refused to talk to her because my step-dad had gotten a veteran’s loan in his own name. Chase refused my mom’s payments for a year because they weren’t enough according to their mistaken figures, and their associates called constantly and kept asking to speak to my step-dad and sending letters addressed to him. My mom had to repeatedly tell them, “My husband is dead,” a painful and almost daily reminder of her loss. Chase would never update the information in their records even after we sent them certified death certificates twice. Chase sent mom a notice correcting her payment amount a year after the increase, which showed her correct monthly payment to be only $90 more to cover the taxes. Mom could have paid that all along, but by now she was behind because of all the payments Chase refused to accept, and Chase would never talk to her about any type of settlement or loan modification. When mom hired a lawyer Chase’s lawyer told us Chase would agree to talk to mom if she re-opened the estate file of my step-father and got them more paperwork, but after we did all that and completed all sorts of paperwork to modify the loan at their request they told us they would not work with her or even review the paperwork they had asked for because she was not the original borrower. So basically Chase made a mistake and doubled her payments, caused her mental anguish on a daily basis by making her repeat the phrase, “My husband is dead,” made her incur attorney’s fees to re-open my step-dad’s estate, made her complete paperwork they never intended to review, only to tell her they are foreclosing on her anyway.

I’m sure my mom is not the only widow or widower who has run into this situation with Chase. Chase’s practices are callous and irresponsible, especially when they caused my mom to fall behind in the first place with their own mistake in calculating her payment. Their practices are also likely to affect two especially vulnerable groups — the elderly and the poor — who are the most likely to be widowed and unable to financially handle a big change in their mortgage payment due to the lender’s mistakes, even temporarily.

Please help us tell Chase that their practices on dealing with widows and widowers are not acceptable, and get them to modify mom’s loan like they do with other homeowners and let her make payments to keep her house.

Does Chase actually protect your money

This customer’s experience along with other comments we’ve gotten seems to indicate that Chase let’s fraud go unchecked and locks down accounts due to normal activity which they call fraud.

Last June my wallet was stolen with my drivers license, chase debit card and another credit card. Police report was filed, cards and accounts closed. Six months later the thief had the nerve to walk into a Chase branch hand over my ID and debit card and the teller gave her $2K of MY money. 1) The card she had was closed and reported stolen to Chase 2) the address on the license no longer matches the address on record at chase and 3) she didn’t know my account number BUT she was able to withdraw MY funds.

I had a similar experience 10 years ago where I had a joint checking account with an ex, we closed the account and both opened individual accounts.  A few months later I noticed a large withdrawal I didn’t make. When I asked to see the slip sure enough it had my ex’s signature on it. How could a teller (this was not theft or forgery) give someone not on my account MY money?  I should have learned my lesson from that experience not to bank with Chase.
When I reported what happened with the identity theft the Chase employee seemed shocked that I didn’t want to open yet another account with them.  Sorry Chase, ATM convenience doesn’t win over security.

I’m also disgusted that Chase’s attitude was “it’s ok, we see this all the time,you’ll get your money back”.  Really? and we wonder why banks are broke – they let criminals walk out with customers money because eh, so what? FDIC insured! I’m ready to start burying my money in the backyard.  with .05% I see no difference, other than its probably safer in my mattress than with Chase bank.

Can Chase really be this bad?

I get more and more letters from people with bad, I mean really bad, Chase experiences.  Can Chase really be this inept?

Hello my name is Mitch my fiancé and I currently have a checking and a saving account at your bank which we will be closing and removing all of our funds from because of the level of unprofessionalism we have received from you establishment.
We have had our accounts frozen for what your customer service reps have told is suspicion fraud on a check, now I understand if there fraud you would take precaution, but the fact that no one contacted either me or my fiancé and you just went ahead and put our accounts on restriction is absolutely unacceptable, further more you put our savings on restriction as well. I am not being garnished so I know legally you should not be able to put my fucking checking account on restriction.  You people are absolutely ridiculous, putting us in a position where we cannot access out hard earned money to pay our bills or food or gas is ridiculous,  I spoke with one of you reps who said it was because the check was not endorsed but after going though the paper I signed when I signed up for the account, I have possession of a booklet which states that if a check is not endorsed you will still accept it and endorse so I need to know who I need to talk to or how I go about getting compensation
because we have obtained at least $100 in overdue fees one of those being a chase credit card I my fiancé’s name, all because we were unable to access our money.
I mean honestly If you suspect fraud then you contact the account holders by, phone, email, snail mail, something but you did none of that and then just froze all of my money, how is anyone suppose to feel safe banking with you guys if at any minute you can just basically freeze their funds and tell them they are basically broke. So far we have spoken with over 4 different reps and I feel like you guys are wrong and you are just trying to cover your ass.
You have no right to freeze my funds, epically my savings this is the most absurd thing I have ever seen and I going to do some more research on this because my mother in law works in an attorney’s office  and I swear if there is one bit of foul play here I will take legal action, and I guarantee you  this is going to hit more media networks and blog websites than you can imagine you can’t play with someone’s life like this.

WordPress Themes