This New York Times article on why mortgage modifications fail reads like Chase PR ad copy. Chase claims that the biggest reason the modifications fail is that people fail to file all the correct paperwork; they try and try to get it but people just won’t submit everything. This is in stark contrast to all the stories we’ve found from people claiming that the process drags on for months and months and Chase loses the paperwork multiple times for each borrower and they have to repeatedly start over. You can read some responses to the story here.
This story from the archives reminds us of why this all started with WaMu: In this case, they drafted a check from the wrong account and then called it fraud rather than admitting their mistake.
The site My3Cents.com allows you to review businesses. You would think that this means that some people who “review” a business would have good things to say, but for some reason, all the Chase “reviews” are bad. Hmmm. 🙂
Stories from Chase insiders.
Why in the world would Chase be releasing an iPhone app for tracking your gift buying?
This seems to be a pretty common story with Chase – they close someones credit card and claim that they notified them by mail, but the card holder never got a notification.
According to this WSJ article, very few of the 650,000 trial loan modifications issued by banks have been made permanent. It is expected that only 25% to 35% of trial loan modifications will be made permanent. Are trial loan modifications just a way to get more money out of homeowners before foreclosure? It sure looks that way.
The first (and only at the time of this writing) comment on this story is just classic Chase. The commenter writes that her mom paid Chase faithfully every month, but missed a payment the month she died. That didn’t matter to Chase which raised the interest rate on the account from 6% to 29.9%. Get it, the account holder died, but for Chase that isn’t a good enough excuse.
Loan modification | admin December 7, 2009 | 
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