2-weeks late gets a harsh letter from Chase

Is this Chase’s new tactic to get people to stop defaulting on their mortgages, hit borrowers with the full nastiness as soon as they are even a little bit late and scare them into paying?  In case anyone is wondering, the average time from first default to foreclosure these days is almost two years, so if your bank sends you a letter warning you of the consequences of non-payment, consider that as well.

Wouldn’t it be something if they sent a letter nasty letter to someone who was late due to Chase applying their mortgage payment to someone else’s loan?

I’m 2 weeks behind on my mortgage payment, today I received a 4 page letter from Chase(my mortgage lender)stating that I have breached my contract and what action next they are going to take..can this be real ????? 2 weeks behind I’m reciving this type of letter??

I’m so confused and scared, this is not the first time I get a little behind on my mortgage payment but I’m up to date as I always have.  I feel like these people are waiting like wolves on homeowners to make any mistake so they can come and take their homes.

I’ve lived in my house for over 5 years now never had a problem paying my mortgage but just like anyone else can run a week or two behind waiting to get paid or whatever else it could be, how can we fight these heartless predators ??  JPMorgan Chase is their names.

1 Comment

  • By Jonathan, October 30, 2010 @ 10:47 am

    I’ve been a WAMU customer for 10 years and then Chase bought them. It’s been a nightmare every since and initially we actually thought things were going to get better, boy were we wrong.

    Their overdraft protection is a SCAM and even though we’ve opted-out, they have no problems letting certain transaction go right on through, followed by an extra fee on top of the overdraft.

    Do yourself a favor and bank with a local Credit Union and forget Chase.

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