Came across this post at chasehomefinancesucks.com in which the National Mortgage Complaint Center is looking for Chase insiders to testify as to the many ways that Chase is ineptly handling mortgages and creating headaches for its customers. Could class actions be in the works?
Bad bad Chase | admin June 1, 2010 | 
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I am not going to argue that the person who wrote this complaint is the most articulate and logical person in the world, but their point is a frequent one with Chase; Many of the people at Chase simply don’t know what they are talking about and often make up arbitrary rules.
In this case, the customer went into a Chase branch to get $27,000 in cashiers checks, and because he has some concern about the party he was about to do the transaction with, he asked to speak with the branch manager (but was given the assistant branch manager) and specifically asked what needed to be done if he wanted to cancel the cashiers checks. The (assistant) branch manager told him with authority that he need simply bring in the check stubs and they could invalidate them.
As it turns out, his concern about the other party were correct and he want to the branch to cancel the cashiers checks. He was told to take a hike.
Now, canceling cashiers checks in the fashion sounds like something that wouldn’t be allowed, but why then would the (assistant) branch manager tell him that?
Some Chase customers have reported abusive tactics by Chase employees or by collections agencies hired by Chase to track down delinquent debt. While the ability of a company like Chase to legitimately go after debt that it owed to it is not in question here, its tactics often are, and they can be abusive, as are the Chase policies, fees, and interest rates that often drive people to stop paying down their debt, because they can’t get ahead.
Well take notice Chase. A jury recently awarded a man $1.5 million in punitive damages after a debt collector left harassing, abusive, and offensive messages on his voice mail.
It is always a good idea to document everything that happens in your discussions with Chase, including saving any phone messages they might have left for you.
Looks like another round of scam text messages is making the rounds targeting Chase bank customers. The texts ask you call an 800 number and then enter your account information.
Don’t every do this. It is a very bad idea to respond to a request for your personal information no matter who it is from. Always call a company you do business with, or visit their website, by using the number or URL that you are able to obtain independently from any text message or email.
Fraud | admin | Comments (0)
Jonathan started trying to get a loan modification (then called a loan workout) back in April of 2008. Even before the official government programs started in 2009, Chase couldn’t get on the ball fast enough and had him resubmit his paperwork because it was out-of-date before they were done reviewing it.
What followed was a two-year odyssey of repeated refiling of paperwork, leaving messages and not being able to get a hold of Chase employees, being told to wait, racking up extra fees, and the constant threat of foreclosure.
I have said this before and I will say it again: Assuming fraud wasn’t involved, there is nothing wrong with Chase wanting to hold people accountable to the commitments they have made. What is so troubling is their lack of clear process, clear messages, and the slightest inkling that they know what they are doing.
Foreclosure, Loan modification | admin May 30, 2010 | Comments (0)
Some of the stories about Chase just seem so bizarre. Can this really be a large retail bank that has years of experience and millions of customers? Sometimes, they act like a small operation that just opened its doors yesterday.
The bottom line is that people sometimes fall on hard times and a bank has to decide whether they want to work with them, or just try and screw them out of as much money as they can. Take for instance this story about a woman that became one month behind on her auto loan.
I put $9000 down on my Yukon 16 months ago. Due to unforseen circumstances I started running a month behind. They started calling me 10+ times a day, even started calling family & friends. I called them on Fiday to make a payment & the phone would just ring. Called at least a dozen times over the weekend Still no one answered.
Seems reasonable, right? A customer is having a hard time but wants to make good. But then
Monday I finally get someone & he told me they won’t accept 1 payment they also wanted May’s which just became due 5 days ago. I told him I could only make 1 as I am unemployed. He didn’t care. So I asked for his supervisor & he wouldn’t put anyone else on the phone. He said he will call me Tuesday after 11 to give me more time to get funds. WELL…..woke up Tuesday & My car was GONE
Really Chase? You’ve got a customer that wants to make good on her loan and is doing the best that she can and you repo the car for being one month behind? This isn’t the bank I want watching my back.
Bad bad Chase | admin May 28, 2010 | Comments (0)
Wow, this is a big screw up on Chase’s part and shows just how badly Chase screwed up some things when they transitioned WaMu customers over to their bank. In essence, the customer had a mortgage with WaMu since 2003 and never missed a payment or was late. All of a sudden she received a letter in the mail saying they are being foreclosed upon. WTF?
Turns out that Chase, in response to a small lapse in the homeowners insurance, added an escrow account for insurance onto her loan that added additional payment. But they somehow forgot to notify her of it. When checks came in, they noticed that the check amount didn’t equal the newly increased due amount, so they put all the payments into a “suspend fund” and the payments were not applied to her mortgage. Again, they failed to notify her that this was happening.
So many of the problems with Chase seem to do with their lack of notifying customers of essential information.
Foreclosure, Ineptitude | admin May 27, 2010 | Comments (0)
Ok, this is complete hearsay, but it is such a dramatic story (from this post) it is worth passing on.
When I called my local insurance office and explained what I needed and why, the young women there told me that her grandmother had a LARGE amount of money deposited with CHASE and it was six figures. They LOST her money!! She asked them what happened to it and they told her to prove she had the money with them!! OMG!! She said it took her grandmother an attorney and months to resolve that issue and CHASE finally FOUND her grandmothers money!!
