J.P. Morgan Chase & Co Lawsuits

We will be building a list of all JPMorgan and Chase lawsuits and class action here. Chase, don’t thank me.

PMorgan Chase accused of gender bias in lawsuit
NEW YORK, Sept 29 (Reuters) – JPMorgan Chase & Co (JPM.N) was sued on Tuesday by the U.S. Equal Employment Opportunity Commission, which accused the bank of discriminating against women by paying them less than men and subjecting them to a “sexually hostile” work environment.

The federal lawsuit alleged that JPMorgan fired Aimee Doneyhue, who worked in a Columbus, Ohio office, after she alleged the second-largest U.S. bank made it more difficult for women than men to earn commissions and bonuses, and subjected women to verbal harassment.

It said the New York-based bank retaliated against Doneyhue by subjecting her to ridicule, including telling her that she was an “idiot,” and fired her after learning from her that she had consulted with the EEOC.

The complaint seeks to recover back pay and other losses suffered by Doneyhue and other women, punitive damages, an end to practices that discriminate on the basis of gender, and other remedies.

JPMorgan spokesman Joe Evangelisti declined to comment.

The case is EEOC v. JPMorgan Chase Bank NA, U.S. District Court, Southern District of Ohio (Columbus), No. 09-711. (Reporting by Jonathan Stempel)

Court Reinstates Lawsuit Against JP Morgan for Rise in Credit Card Rate

A couple in Oregon who attempted to sue JP Morgan for failing to properly disclose risk factors the bank used to raise its interest rates on its credit cards, has had their suit reinstated.

Earlier, a federal district court in Oregon had dismissed the couple’s claim for further proceedings. But the US Court of Appeals for the Ninth Circuit has now ruled that JP Morgan had not made “clear and conspicuous disclosure” of the annual percentage rates it could impose, as required under the federal Truth in Lending Act. Instead, the bank put in writing its reasons for rate increases on apges 10 and 11 of the couple’s credit card agreement, “five dense pages after the disclosure of the APR,” Judge Diarmuid O’Scannlain, one of three judges on the review panel, wrote.

The couple were prompted to file the suit against Chase after their annual 8.99 percent interest rate shot up to 24.24 percent, apparently with no warning.

Recently, the US Senate and the House or Representatives have both approved bills to curb sudden interest rate increases on credit cards. President Barack Obama will likely sign the bill into law in late May.

Milan Police Seize UBS, JPMorgan, Deutsche Bank Funds
By Elisa Martinuzzi

April 28 (Bloomberg) — Milan?s financial police seized 476 million euros ($620 million) of assets belonging to UBS AG, Deutsche Bank AG, JPMorgan Chase & Co. and Depfa Bank Plc amid a probe into alleged fraud linked to the sale of derivatives.

The police froze the banks? stakes in Italian companies, real estate assets and accounts, the financial police said in a statement today. The assets seized yesterday also include those of an ex-municipality official and a consultant, the police said.

The City of Milan is suing the four banks after it lost money on derivatives it bought from the lenders in 2005. The securities swapped a fixed rate of interest on 1.7 billion euros of bonds for a variable rate that was losing the city 298 million euros as of June. Milan is among about 600 Italian municipalities that took out 1,000 derivatives contracts worth 35.5 billion euros in all, the Treasury said.

?Milan is an important case because it can be used as an example by others,? said Alfonso Scarano, who is heading a study into the trades by AIAF, a group representing Italian financial analysts. ?This is a unique time for borrowers to shed light on their potential losses and renegotiate contracts? to take advantage of interest rates that have fallen to record lows. AIAF will next week testify before the Italian Senate?s inquiry into the cities? use of derivatives contracts.

Officials at all four banks declined to comment. In January, JPMorgan filed a lawsuit against the city in London. The bank is seeking to have dispute heard in the U.K., according to two people familiar with the claims.

Cassa Depositi

A spokesman for Milan?s city council declined to comment. A report commissioned by the city last year into the derivatives trades didn?t identify the officials involved in the decision.

The banks reaped about 100 million euros in fees from the transactions, Milan?s financial police said today. Public officials, seeking to cut the cost of their debt and help fund their budgets, turned to the banks to refinance borrowings from the state-owned lender Cassa Depositi e Prestiti.

The 30-year bond carried annual interest of 4.019 percent. With the derivatives, the city swapped the fixed interest rate for a floating rate set at 12-month Euribor. Milan also agreed to repay the principal by annual payments instead of at maturity, according to the city?s report.

The banks and Milan later agreed on so-called interest-rate collars, under which the banks would pay the borrower if Euribor rose above a certain level, the so-called cap, while the borrower would pay the banks if Euribor fell below the so-called floor.

Credit-default Swaps

The banks misled municipal officials on the advantages of buying the derivatives, including the impact of the fees they charged on the contracts, the financial police have said. The banks made three times more money from the cap than Milan did from the floor, according to the city?s report.

Local governments often entered into derivative contracts without soliciting bids from competing buyers. In 2007, Milan also sold a credit-default swap, exposing itself to the risk that the Republic of Italy might default, the document shows.

The Milan case is among lawsuits filed by local governments from Germany to the U.S. amid allegations of mis-selling and fraud. Italy?s Senate is leading a review of the use of derivatives among local administrations.

Italian prosecutors can seize assets, subject to judicial approval, to prevent the worsening of the consequences of the crime or prevent further crimes being committed, according to Andrea Giannelli, a researcher at Milan?s Bocconi University.

?Intimidating and unprecedented?

?Its use in this case is somewhat intimidating and unprecedented,? said Giannelli. ?It?s a measure they may be using to accelerate a solution.?

Deutsche Bank, Germany?s largest bank, last year won dismissal of a lawsuit filed by Hagen, Germany, over losses on derivatives that the city purchased from the lender.

The U.S. Justice Department has been investigating for more than two years whether banks and brokers conspired to overcharge local governments on similar swap agreements.

Alabama challenged a so-called swaption deal last year as local governments across the U.S. faced rising bills after derivative trades with Wall Street banks backfired. The Alabama Public School and College Authority filed a lawsuit in October seeking to void a so-called swaption, or option on an interest- rate swap, that it sold to JPMorgan in 2002.

To contact the reporter on this story: Elisa Martinuzzi in Milan at [email protected]

Last Updated: April 28, 2009 10:12 EDT

JPMorgan Chase Accidentally Breaks Into Your House And Steals Everything You Own
Bobo and Joy Dickson bought a house had been headed for foreclosure, but JPMorgan Chase apparently didn’t get the message that the former owners had moved out and the new owners were in residence. So, naturally, they hired a firm to drill the Dickson’s locks and take everything they owned, including their food. Now JPMorgan Chase is “taking it seriously.”

“We take this very seriously, and we are working with EMC [a mortgage company JPMorgan Chase owns] and the family’s attorney to make this right,” said Tom Kelly, a JPMorgan spokesman.

After the Dickson’s bought the house back in May, the foreclosure proceedings were supposed to have been stopped. They weren’t. That’s when the former owner’s mortgage company (owned by JPMorgan Chase) hired “Field Asset Services Inc.” to drill the locks and “empty the house,” according to the Austin American-Statesmen. Field Asset Services claims that the Dickson’s possessions were given to area thrift stores, but they have been unable to locate them.

Ordinarily, when personal possessions are left in a foreclosed home a court order is needed to remove the items and the owners are given the opportunity to reclaim them within 24 hours. JPMorgan Chase says its not sure if there was a court order in this case.

Elizabeth Bradburn, the Dicksons’ real estate agent, is organizing an effort to collect donations for the family. She said gift cards to furniture and household goods stores are preferred and may be sent to the Dicksons’ business address: 9800 N. Lamar Blvd.,

No. 315, Austin TX 78753.

“It’s been awesome to see people mobilize and want to help out,” Hance [Dicksons’ attorney] said. “The Dicksons are, of course, very grateful and touched by the outpouring of support from the community.”

Report: WaMu parent wants U.S. documents in failure probe

December 15, 2009 | 8:38 pm
The bankrupt parent of Washington Mutual Bank asked the judge in its reorganization case to allow for an expansion of a probe into the circumstances immediately leading up to the September 2008 failure.

From the Puget Sound Business Journal:

A filing in the Washington Mutual bankruptcy case says that new evidence supports allegations that JPMorgan Chase used access to inside information about WaMu to drive down the bank?s credit rating and share price, scare away other suitors and arrange to buy the ailing Seattle bank from regulators at a bargain price.

The 20-page motion cites hundreds of internal documents received from JPMorgan through discovery in the bankruptcy case, including emails between JPMorgan executives and other banks interested in bidding on WaMu as well as slide show presentations discussing the viability of a WaMu purchase.

The latest motion now seeks to expand the subpoena to include regulators such as the Federal Deposit Insurance Corp., the Office of Thrift Supervision, the U.S. Treasury Department, the Federal Reserve, other banks that considered buying Washington Mutual, Goldman Sachs in its capacity as an adviser to WaMu, credit-rating agencies and other banks involved in lending to WaMu.

Conspiracy theories have been rampant since the S&L’s failure, and WaMu’s parent has been battling JPMorgan and the FDIC in multiple court venues over billions of dollars in assets.
As Jordan Weissmann wrote on law.com in October:

Washington Mutual is arguing in its suit brought in D.C. federal trial court that the government sold the bank for less than it would have been worth in liquidation, which it further argues violates the FDIC’s obligations under the Federal Deposit Insurance Act.

It also contends that many assets should never have been transferred to JPMorgan at all.

— Tom Petruno

A class action lawsuit has been filed against Chase Home Finance LLC and JPMorgan Chase, N.A. in the U.S. District Court, Southern District of California, alleging that defendants reneged on a promise to modify troubled mortgages. The class action is brought on behalf of the following class of persons:

All mortgagors in the the State of California whose home mortgage loans are or were serviced by Chase Home Finance LLC or JPMorgan Chase Bank, N.A. and who (a) have attempted to obtain permanent loan modifications from Chase Home Finance LLC or JP Morgan Chase Bank, N.A. through the Home Affordable Modification Program (?HAMP?) or similiar loan modification programs; and (b) have made payments pursuant to a HAMP Trial Period Plan (?TPP?) or any similiar temporary modification agreement offered by Defendants.

For more information on the Chase Home Finance & JPMorgan Chase mortgage loan modification class action lawsuit, read the Chase Home Finance & JPMorgan Chase class action lawsuit complaint.

For information about this class action, contact paralegal Nick Wallace or attorneys Gretchen Obrist or Lynn Sarko at 800.776.6044 or via email at [email protected]

227 thoughts on “J.P. Morgan Chase & Co Lawsuits

  1. I HATE Chase. I am getting ready to file a complaint against Chase with consumer affairs, BBB, Attorney General & the FTC. I have requested numerous documents on my loan information and Chase refuses to comply. Second Chase froze my Home Equity Line of Credit with no warning and no reason and I was current with all payment and NOT in ANY financial trouble. They refuse to re-instate the home equity line of credit. I am in the process of seeking an attorney who can sue the &^%$ out of them. They think they can do whatever they want.

      • Whose In? I am meeting with a strong legal team this Thursday March 11, 2010. We all have very similar issues. Please let me know if you are interested…..

          • Very interested. If the attorney’s are backing downt then we need to file a lawsuit on our own.

        • I am interested. Chase illegally forced escrow on my mom. tried to work with them for 1 yr. continually srewed up and now trying to take her house-

        • Very interested. I have been told I qualify and to make 3 payments on time and I did they turned into 6 and then was told I made to much money. Nothing had changed in my income from the beginning. We are now starting over.

        • Class action?? COUNT ME IN!!!! I can’t even begin to tell you what I’ve gone through wth Chase for the past 18 months. They lie, violate RESPA daily, etc. PLEASE keep me posted as I was thinking of doing the same thing.

          • I’d love to get into some kind of class action suit with the greedy monster! They cut all my business lines and eq. line. Basically put me out of business when they bought wamu. Never paid them or anyone else late in my life! Just totally dropped the the ball on my business after borrowing from wamu for business growth. Just shut down my cash flow within a few days of the purchase of wamu with no good explanation. So now months later I have neg. cash flow and unable to market effectivlely and now behind inmy mortgage which of course is the same friggin’ bank. It’s like they got me exactly where they want me. All this through no fault of my own!!! Before they bought wamu, life was good! Now it’s a living hell. I swear to friggen god. If it’s the last thing I do, I’m gonna get this —c- -u—r of a bank to fall.

        • Was a class action filed? Chase has given me the run around for two years on my home mortgage they have been servicing. They had me file twice for a loan modification. I have requested a copy of my file which of course they have refused to provide.

          • They are snakes. Anytime you send them anything make sure you save a copy of what you sent them. I scan my items into my computer. I also send them a transmittal letter stating the contents of the package.

            I am sure they have done the same things many of us. In my particular case Chase strung me along with a home loan modification when they knew I did not qualify. I applied for the making affordable program. The home was a rental property. Under the making home affordable program, you must live in the home. So after I sent Chase documents for 6 months and making no progress, I finally contacted HUD. HUD and I contacted Chase in a conference call. Chase was so rude. The HUD representative asked them why they were continuing to string me along when Chase knew I did not qualify for the program. The relationship MANAGER at Chase did not have an answer She had to put us on hold to ask her supervisor. The supervisor from Chase response was ‘it was not Chase’s responsibility to let me know if I qualify for a program’. So my question is ‘whose responsibility is it to notify me?”

            It was quite apparent they were just trying to suck every dime out of me. I continued to make payments using my unemployment thinking I was being considered for a loan modification. I could have used my money for something else. I finally stopped making payments. They still try to tell me they were working on my loan modification.

            I am looking for other people who were strung along for months or years and then told they did not qualify.

        • How’s the class action going against Chase? They are not helping me refinance thru Homeownership Preservation Act. Just one excuse after another!

        • Hi, You said you couldn’t afford a lawyer. I don’t know what state you live in but in Ohio where I live we have a legal aid society where you can call and tell them your problem and they will assign you a free lawyer if you can’t afford one. I did this and he was absolutely no help. Maybe that is what I get for free. I contacted the bbb and they forwarded my complaint to chase but that didn’t pan out either. Thinking about emailing Brian Williams and seeing what he can do for all of us who are under the gun from Chase Home Finance who won’t give us a loan modification. Let me know if you have any updated news and I will do the same for you. We have to stick together. Your friend and blessings….Connie Powell

    • I am very interested!! Chase won’t modify my mortgage because we make too much money, yet won’t refinance because we don’t make enough??? They tell us there aren’t any other options!!

  2. Chase pre-approved me for a refinance on April 20th. They dragged the process on for 6 months. When I wrote a letter to express the unprofessional attitude of not returning phone calls, they rejected my loan the next day. I am currently trying to fight this.

  3. All I can tell everyone is that Chase/WAMU are the most disgusting garbage banks. Numerous phone calls pertaining to modification applied for months and months ago – REFAXED same documents over and over and over again – One month ago was told that all the documents were in – OF COURSE THEY WERE MONTHS AGO – then yesterday I called to just check and guess what – YES – missing another document that had been sent numerous times. Well since yesterday – I FAXED it 20 times. NO matter what the outcome is for us – we have decided that in the best interest of all consumers that we will be discussing this with an attorney because I feel a class action lawsuit should be filed against them. In the meantime – I urge everyone working on a modification – is to call them at least everyday – write down all the numbers and who you talked to – in addition you must record your conversation with them – and you must inform them you are doing so. Then – you really need to make a call to one of your legislators. – Yes – seems like a waste – but you need to protect yourself and ALL the banks need to be made more accountable for their actions. Good Luck everyone – I will post again.

    • I am preparing for a meeting with a reputable law firm and they have invited a lawyer outside of their firm who specializes in class action lawsuits. My meeting is scheduled for this Thursday March 11, 2010. Unfortunately, Chase Home Finance, LLC, Loss & Mitigation has over stepped their boundaries and the time has come for Chase to be held accountable. We all have some strong similarities in how we have been treated by Chase in regards to obtaining a home loan modification. I have carefully documented all my conversations with Chase via fax, phone, and e-mail. Chase basically can change the rules anytime they wish no matter what the loan modification conditions state. It is an all around losing battle with Chase. The only way they might listen is when we all unite and make a stand with a strong legal team! Whose in? I am getting ready! Everyone keep good records and record every conversation by writing it down or dictation.

    • We are going through the same thing with a modification. We started in Sept. 09; told time ran out, their time, and had to resubmit. Now they are saying we were denied because something is incomplete. I call every couple of weeks and at no time did they say anything was incomplete. Have received nothing in the mail and I spent 1 hour and 15 minutes on hold today with no one ever answering. Called and asked for supervisors to no avail. Is there really a modification program?

  4. We filed a complaint with our legislator in 2008 and asked for help. The person we filed with was then IL Rep. Obama who in a letter agreed to help get this resolved. I have done nothing with the letter as yet but when we file in Federal court, we may be able to use this to some advantage. To the owners of the house that Chase broke into, I hope you have better luck than we did. They told us they gave our stuff to charities but we found none that had a 1964 1/2 mustang, six person hot tub, pool table, fine art, or 80 thousand dollrs of jewelry delivered to them or given to any one they new. The also did not get the 12 rooms of furniture from the home.
    And please don't rely on Tom Kelly you know the saying about tits on a bore. It fits here.

  5. I filed a complaint with the BBB agaist Chase for the bogus charge added to my mortgage this month for flood insurance. I have been in this home for 10 years and Chase has unilaterrally decided I was in a food zone ven though the material I faxed them from FEMA and the county engineers stated the home is NOT ina flood zone. Chase added a $2,250 annual flood insurance to my mortgage. They truly are themost unethical institution on earth.

    • Similar situation except Fed remapped my neighborhood to require flood insurance wher floods have never occurred. Had mortgage with WAMU and had no escrow agreement as I made my own payments. Without prior notification, Chase billed me for flood insurance at $1900 per year. After an elevation certificate, I was able to get same coverage for $550 per year.

      Chase is billing me for the two months it took for me to get my own insurance an amount almost equal to the annual insurance cost. They have spread this amount and adjusted my direct withdrawal instructions to hit my checking account, even though there is no escrow agreement. I am changing my checking account to eliminate this direct withdrawal and will recapture the unauthorized deductions in my first mortgage payment check.

      I would welcome a law suit. Chase is an unethical organization, almost a RICO organization.

      Good luck

  6. We recently had Chase tack on the $2250, flood insurance to us as well but another way. When we purchased we added a line of credit (in case of emergency). over the course of a couple years we received letters that our line of credit had been reduced, reduced again and then completely gone. We hadn’t received a statement on the line of credit for over a year. Then in October, we have a line of credit again, mysteriously ( I thought when a line of credit is removed, you have to apply all over again), and we receieved letters from Chase authorizing them to add flood insurance to our line of credit loan. Now we have 2250 tacked on to our line of credit. we talked to the local Chase rep (retards) and they don’t understand how this happened because we have no funds available in the line of credit, even though the statement shows we do? WTF?

    • Same thing happened to me, they put $2200 on my line of credit even though it
      is frozen. Can I cancel my account and get it back? What steps are you taking?

  7. Being new to this site, forgive this question if already asked, “Would anyone like to join a class action suit against Chase?” I too have been injured by the big bank twice and this modification/foreclosure program is the last straw. My attorney has 3 suits with similar circumstances, so anyone interested please reply. Perhaps Admin can direct a proper posting for this question?

    Thanks, and thanks for this site!!

      • Same here. I will gladly join a class action suit. Chase Home Finance has been a nightmare. I also work with a Company Called Greenpath, so I would have a housing counselor HEAR AND RECORD all the insanity I have been put through for more than a year. I did this initially as I had never been through a loan modification before and wanted help understanding the process. I quickly learned I also needed a witness to all the hell they have been putting me through. When I looked at the BBB file on Chase for the past 36 months I was floored at the 970 complaints filed against Chase Home Finance just in that short time period!!!. Nearly everything I have seen posted on here has been done to me also. I even went as far as contacting the Office of Sr. Vice President, Bill Betz today. They told me to contact Executive Resolution Group – that is how I found the BBB report.

    • Hey Brett, I want in on this class action lawsuit against Chase. I live in Ohio and don’t know if that matters. A thought, let’s all save all the receipts from the faxes we have sent and resent and make them pay for that also. lol We should also make them pay for all the stress they have caused us. My health has suffered as well as my credit score. Blessings…Connie

  8. I AM NOW ATTEMPTING TO “RE-FAX” THE EXACT SAME FORMS THAT I SUBMITTED IN JULY 2009, BUT SOME HOW THEY DON’T HAVE THEM ANYMORE, I HAVE ALSO HAD TO FAX AND RE-FAX TWO OF MY CURRENT PAY STUBS BUT ONCE AGAIN. EVERY TIME I TALK TO ANYONE AT CHASE ITS THE SAME ROUTINE, “YOUR FILE IS BEING REVIEWED, AND A DECISION WILL BE MADE IN ONE TO TWO WEEKS”…YEAH RIGHT ! IT WILL BE A YEAR IN A COUPLE OF MONTHS SINCE WE FIRST STARTED THIS JOKE OF A PROCESS, AND ARE BARLEY HANGING ON TO OUR HOUSE… WAITING FOR CHASE TO HELP. I AGREE, EVERYONE THAT HAS BEEN ABUSED BY THIS BANK SHOULD BAND TOGETHER TO PUT THEM OUT OF BUSINESS. OF ALL THE BANKS TO SHUT DOWN WHY COULD IT NOT HAVE HAPPENED TO CHASE?

    • I agree to put chase out of business. shut down chase. they are the one approved the loan.people work in chase in those corp. office, has no brain and no heart. anyone can replyl how can we all get together. chase actually is the number one bank do all fraud loans and now caused us to pay for it.

  9. Went through loan mod. after they came to my house to offer it. 6 to 7 months later, after they put me in a position that I had no other choice but to accept their Mod my mortgage dropped $20.00 WHAT THE H

    I am self employed, I just did my taxes. I made less then half of what I made last year. I don’t know what I’m gonna do if things don’t change fast. I don’t need a health plan, I need Money, before My Fam is homeless

  10. Same tale here going on 3 years with this no good company, losing my stuff, documents getting old, several “good faith payments” were is this money going, the payments made every month. COUNT ME IN FOR A CLASS ACTION SUIT.

  11. I had a bad experience too with Chase, they were our current mortgage holder, then we went to our credit union to refinance to a lower rate so out of curiosity I called Chase to see what they could offer. Per the phone interview, I said no points and 5.25 fixed rate is what the credit union offered. This Micheal Schelach e-mailed me the Good Faith Estimate and he lied and charged me points and an interest rate of 5.75. Mind you I’ve been with them for years. I was also told to give a credit card number so “IF” I had an appraisal they would require payment up front for that. Not knowing during the phone conversation who’d I actually go with, I gave it to him. Within 24 hrs of viewing his Good Faith Estimate I decided to go with the Credit Union instead and I e-mailed him telling him that I had gotten a better rate at my CU. He sent back a pretty unprofessional and contradicting e-mail back saying, out of curiosity…..why would you deal with someone that lied to you and didn’t give you the best rate in the first place……then he stupididly asks me to send him their GFE and he would try to match it. DUH>>> then he too didn’t give me the best rate. In any case, we finished up with our Credit Union and a month later Chase withdrew 395.00 out of our account without authorization and wiped us out Bills going into overdraft and we had NEVER overdrafted on anything. We have two kids and needed diapers and food and had no money. Boy I was on them like flies on sh *&. I had my bank try to reverse payment by a stop payment and even had a customer service person from my CU talk in a 3way call to the supervisor in the mortgage dept. Only to get an answering machine saying they will return the call in 72 hrs. I needed my money yesterday!!! It took a week to get our money back but they didn’t pay any kind of overdraft expenses we had. URGH!!!! I knew there was a reason I wanted to get away from Chase! We had other unpleasant experiences as well with escrow stuff. Now I wonder how long it will be before we get our escrow money back after the re-fi. Its been almost a month and still nothing. IF YOU CAN GET AWAY FROM CHASE !!!!!

  12. I have had a problem with Chase since 2005. About every two years they have screwed something up. I am going through the same thing again right now. If anyone has started a lawsuit against them please let me know, I want to get onboard.

  13. I’m in for the class action suit, just about to hire a forensic research report on Wamu/Chase subprime mortgage. Also self employed business owner, denied modification and underwater. Still current with all payments but Chase unwilling to help and went through modification process from Nov 08 to be denied on November 11, 2009.

  14. We had our mortgage through WAMU and Chase assumed it. We have made payments all along, then suddenly started receiving them back (months later) found out that online banking (through Chase) had down the wrong address (an old WAMU) we are currently being foreclosed even though we have made all current payments. We are told that if we do not pay the legal fees, a short sale date will be attached to our loan quickly. We are current on the mortgage payments, but do not want to pay those legal fees in excess of almost $1000. We have not done anything wrong.

  15. I am so glad to have found this site. I’ve completely lost my ability to even have a civil discussion with the people who front the “loss mitigation” arena, and last night, decided to amuse myself by acting completely nutters with some poor hack on the line. Two of ’em actually.

    We originally applied in August. It’s like being in the middle of some horrible nightmare video game, where you keep jumping through hoops, and then they put the same hoops up and set ’em on fire. They’ve asked me for the 4506-T form FIVE times now. Only this last time, after I sat here going off the deep end, was I informed by anyone that I had not checked the proper box on the form. Could they have perhaps included instructions or anything about which fraking box to check? How to fill it out? Even a hint that they were repeatedly asking for it because it was filled out wrong? No – they only state that they don’t have it. And you know they do it on purpose.

    They argued against the preservation program back in September of last year, citing “sanctity of mortgage contracts.” RUFKM? Sanctity? Of a usurious contract? Really? OMG. They don’t want to do this. They’re dragging it out as along as they can to run out the clock.

    My favorite bit now is all the clerks have been instructed to tell you they had their own home foreclosed on a year ago, or they’re currently losing their home. When I heard the third person tell me that last night, I told him his boss was a goat fucker, a few other choice things, and then hung up.

    I told my husband that from now on, if there’s any talking to be done, it’s best he talk to them because I am so sick of being lied to and given no real helpful information, that I just lost my shit completely .

    Torches and pitchforks people.

  16. I too have had similar experience with Chase, so much to tell they have been jacking me around for three years. They began by paying my paid property taxes and then escrowing me, adding on insurance that I already had raising my payment over 500 month then modifying at an even higher payment.
    All after I beg them to modify at an affordable proving taxes were paid and paying off my escrow in order to have the escrow removed. They never acknowledged that payment on my escrow. Finally sent foreclosure papers I called them and told them to take the house. Week later offered to modify again that was Sep 09 3 month trial told me to make a new payment amount 1240 per month. NEVER MODIFIED. Received foreclosure again on 5/13, YES INTERESTED IN CLASS ACTION!

  17. Please let me know who and where I contact about a class action lawsuit against Chase. Spent a year going through the loan modification and then got the final papers, sent them a certified check for the escrow account so we would not have to make the nearly $1500 a month payment and our payments would only be $932 a month for the principal, interest, insurance and taxes, and now they say we have to make the higher payment for 5 years, will not let me put any money into the escrow account at all. Don’t know what to do, I am out of work, trying to get my teaching certification and hubby works but we just got popped for $600 a month child support (his son went to live with his mom) and had to quit the loan consolidation just to pay this. We refinanced with citigroup, they sold to WAMU and then Chase took over. Our house needs a lot of repairs and is not worth what we owe on it. Help me, I’m so stressed out and don’t know where to turn. there is a lot of stuff I have left out, they have actually told me they want my house, how can a company stay in business doing things like this?!!

  18. We are in the same hellish nightmare now. We started to aplly for loan modification November 2008 but CHASE told us we would not qualify because we were current on our mortgage. We told them that our business has not been doing very well and we were using some of our savings to pay our mortgage. They told us we will only qualify if we are behind in payments. So we paid a negotiator “Mortgage Bailout Company” who unscrupulously ran away with our payment of $3475.00. We ended out applying for the loan modification by ourselves. It took 4 months until CHASE agreed for TRIAL MODIFICATION. However, they served us a Notice of Default. From $5,038/mo our payment became $4,108.90/mo. CHASE told us it will only be for 3 months then it became 8 months. Every month during the 8 months, we received letters that our loan modification is at risk for denial because of incomplete application papers. Numerous time, we submit, faxed, mailed, and all the hoops CHASE made us jump through. But after we paid them for 8 months, they sent us a letter saying that we did not qualify as the Obama’s home affordable plan has a ceiling of $740,000 for single unit home and our loan is more than this. CHASE told us that we could re-apply again. So we did this and use a non-profit agencies to help us (Mabuhay Alliance). This was on February, 2010. CHASE send us a letter confirming our re-application for the HAMP and told us to continue payment which we did. But lo and behold, lasy May 14, 2010, we received a trustee sale which we be hold on 6/11/10. We immediately called MABUHAY alliance and asked them what happened. They told us that they just a received an e-mail from CHASE that our application was denied last week of April due to the reason that CHASE could not verify our income. We strongly questions the two reasons they gave us for denying our application. First is if they know on the onset that there is a ceiling of $740,000, why they asked us to make 8 payments; Second is the reason they could not verify our income, that is very absurb because my husband and I, aside from owing our business, are also working full time and receiving a pay check every 2 weeks from our respective employers. We submit to CHASE almost 1 year of our pay stubs, bank statements, Tax returns for 3 years and other proof of our income. Why was not this an issue on our first application. On desperation, because we really would like to keep our home, we asked CHASE how to re-instate. They told us that we need to pay an arrears of $44,000 ( even after paying CHASE of $46,000 since we started the loan modification). We asked them if it possible to put the arrears at the back of the loan ( accepting the fact that our home is already at least $300,000 underwater). CHASE refused, stating that they wanted the 44K immediately. We beg again if they could make a concession for a longer term. They initially offered us 6 months making our monthly payment to $13,000+/mo. We told them that this is very impossible. They made another offer of 12 months with a monthly payment of $8,222/month on the very same day plus another $7,500 in 3 days as a down payment. We told them that if we agreed to this, all of our income will just go to our house payment and there will be no left even for our food. They told us to make a decision that very day or else they will proceed with the foreclosure. Of course we did not agree, not only this is not possible for us financially but also we felt that CHASE’s business practice is not only unjust/unfair but also illegal. We contacted a lawyer to represent us in a law suit. But we are very interested to be included in a class action law suit.

  19. And another piece of “good” news. . .when I called Chase after having been denied twice for loan modification, to ask about the new FHA principle reduction option, they said, “This program will not be up and running until the fall [2010]. Please be patient.” Chase, however, has already accepted their part of the $14 billion earmarked specifically for the five “critical” states (Michigan, Arizona, California, Nevada, Florida) and is now earning interest on those funds without working to help homeowners find solutions. I qualify for all elements of the prin. reduc. program, but they seem to be serious about holding on to my “toxic” loan (underwater @ 179% 🙂 ). Count me in for any class action suit information. Pretty crooked stuff.

  20. Can someone provide attorney contact iformation for any class action suits. Our story is just like everyone else here. We have been given the run around for 16 months in the modification process. No return phone calls. Now they hve blocked us from calling our payments in forcing us to Western Union the payments to stay in compliance wth their program. Attorney infrmaion would be greatly appreciated! We are in Missouri, if that makes a big differance….

  21. OMG…I’m reading my story over and over again! I’m to the point that I too am ready to hire a lawyer. I’m tired of jumping when they say to jump, faxin’ the same crap over and over again, and explaining to EVERY SINGLE DUMBASS that I am DIVORCED and WON THE HOUSE in the divorce…they don’t seem to listen…and now they are wanting over $10,000 dollars…because I didn’t pay my mortgage?…NVM that I paid the trial payments when I applied for a modification. And I’m in Oklahoma…so apparently no state is safe from these a’holes. I’m ready to sign with a class action lawsuit. Where do I sign up at?

  22. CHASING CHASE BANK
    Chase Exec. Runs From Borrowers after Inviting Them to Bring Him Their Complaints

    David Lowman, chief executive for JPMorgan Chase’s home mortgage division, was asked by Congressman Barney Frank during congressional hearings to identify who homeowners should contact to address and resolve their concerns. Lowman offered, “Come to me.” And ?come? they did: Over 50 Chase borrowers in the audience came to him with their questions, but Lowman turned tail and ran from these homeowners, embarrassing members of Congress and fellow bank executives who also testified.

    Chase Borrowers and supporters should contact the following Chase executives:
    Dave Lowman (Chase Chief Executive) at: 636-735-2121
    Jamie Dimon (Chase CEO & Chairman) at: 212-270-1111

    Homeowners, taxpayers and the American people are fed-up with Chase. It demonstrates the height of arrogance, yet they are afraid of its borrowers.
    It refuses to restructure mortgages for deserving homeowners.
    It made $3.3 Billion last quarter on the backs of working people subsidized by American taxpayers.
    It fights to defeat regulatory reform.
    It refuses to be held accountable for WAMU?s predatory loans it now owns. Click for article on WAMU.
    Its purchase of Bear Sterns was subsidized by American taxpayers.
    It has more executives making over a million dollars a year than any other bank.
    It receives huge amounts of taxpayer-subsidized financing.

    The encounter between Mr. Lowman and Chase borrowers was reported worldwide. The following is one of the articles published by Reuters, a global news service:

    U.S. bank chief mobbed by angry borrowers
    Fri, Mar 26 2010

    (Reuters) – The mortgage chief of the United States’ second largest bank was mobbed by angry borrowers on Tuesday after he invited customers to speak to him if they feared foreclosure of their homes. The JPMorgan Chase & Co executive was at a congressional hearing in Washington when a lawmaker asked him who mortgage borrowers could turn to if they felt his bank’s employees were not helping them hold onto their homes.

    “Come to me,” said David Lowman, chief executive for JPMorgan Chase & Co’s home mortgage business in response to the question from Massachusetts Democrat Barney Frank. Minutes later, around 50 borrowers burst from the audience and presented Lowman with a 6-page document alleging his bank reneged on a pledge to help struggling homeowners.

    The activist who organized the protest said Lowman did not want to talk and left the hearing. “He ran. He ran like a dog with its tail between his legs,” said Bruce Marks of the Neighborhood Assistance Corporation of America (NACA), which helps homeowners avoid foreclosure. “He was scared to death because he doesn’t really want to talk to homeowners.”

    The incident is symptomatic of frustrations among U.S. homeowners as defaults and foreclosure filings dominate the housing sector more than three years after the property bubble began to deflate. NACA organizes events where borrowers try to get loan modifications with lenders. The group says JPMorgan signed up to the NACA program but dropped out in December. A JPMorgan spokesman declined to comment on the complaint.

    (Reporting by Corbett Daly, additional reporting by Al Yoon; writing by Andrew Hay)

    Links showing exchange between Congressman Barney Frank and David Lowman:
    Video of the exchange.

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    For information about the NACA program, contact [email protected]. Questions, comments, or concerns about this Web site? Contact [email protected].
    Join our mailing list to stay informed about NACA. This site is copyright (c) Neighborhood Assistance Corporation of America.

  23. Count me in on this! I was approved and signed papers for LM and they recently pulled it for no reason given to me. Please contact me with the latest updates.

    Thank You,
    Brian

  24. Ok, I can’t take it anymore! Like so many of you I have had to endure this abuse since Chase bought WAMU. I have been on this ride of Loan Modification with them since March of 2009. They have lost my initial payment of $1500 in April of 09, telling me ” Oh, it was applied to your principle balance.”. WHAT! And then begins this loan mod with required me to make 3 consecutive payments and wait for a word from them. Instead I get a letter from the law firm handling the foreclosure, and so on and so on. I have just sent in my third payment on the third go round of this LM with Chase and no one will return my calls and tell me where I am standing on my approval.

    How is this is going on with so many of us and nothing being done by the government to hold these jerks accountable. I’M IN ON THE LAWSUIT WHO DO I CALL???

  25. http://www.unitedlawgroup.com/class_action_litigation.html
    1-800-680-5717

    I stumbled upon this by accident in my quest for resolution, has anyone tried calling this law firm?? Check out their web site and if anyone talks to them, I would be interested in your comments. I have made several calls to various other firms only to be referred elsewhere…..sooooooo tired 🙁

    Chase has blocked us from making payments now and stated we were under another program yet again. A N D, once again we can not get anyone to return any calls from the “new program”. ( I can’t even tell you the name of the program) To whom and where are we to send our new payment amount???

    If this happened to one of our senators or congressmen, I bet there WOULD BE an investigation and Chase WOULD BE held accountable.

    I am only noticed when it is time to pay my taxes or to cast my vote……..

    • That is the exact same thing that has happened to me, I got denied the federal mod and they entered me into an in-house mod, yet no one tells me how much or to where I need to send my payments! I call my negotiator(of which I have never spoken to)and leave message after message, finally I call another number and they tell me that my negotiator had been fired. 16 months and counting!!!!!!!

  26. This amazes me. How can so many of us be in the same boat and no one in this country cares????? How can the Attorney General’s office get these complaints and then just hand it over to the OCC and then have them get in touch with Chase’s Executive Offices?? I am getting nowhere with them either. They work for the same company!!!! Is there nowhere to turn to find an advocate for the consumer?? I have been trying to find class action suit information for awhile now and I am coming up blank. I figure it’s just a matter of time that they win and end up taking the house since the phantom fees keep building and we will never be able to pay them. My question is, what will they do with all these houses if they foreclose? Little by little the houses will fall apart because no one has any money for even the smallest improvements.

    I have lost all faith in the government of this country. When I first started this process 18 months ago, I believed President Obama. I thought we were going to get help because we had lost our jobs. We didn’t ask for a hand out. We asked for help. We made sure we paid all our trial payments on time and lived off our credit cards so we were in good standing. Now, I owe more to Chase in fees then I would have had if I had just paid the original mortgage payment. It’s horrendous that the government in this country continues to allow this to happen.

  27. Pingback: chase home finance loss mitigation « loan web

  28. I has been the same for us. We bought our house through a government program 2 years ago after getting denied by Chase because they said that they could not get our PMI approved but we met loan requirements (Chase was our bank so we started there). Worked out better for us. Got a better rate than what they were offering us. Low and behold they bought our loan. We contacted Chase after my husband got laid off in January of 2009. We applied for mod. and were told that unemployment did not count as income and my income didn’t count because I wasn’t on the loan and that you had to have income to be eligible for mod. So we got by dipping into some money we had saved. Then I found out that my school was non-renewing my contract in June of 09 and we contacted them once again and they said to try again to apply because some things had changed. Well we were told the same thing. Fast forward to March 2010 and a completely depleted savings account. We used any money we got (including income tax return) towards our mortgage. In March my husband finally finds work. But it is half the pay. So now we meet all their criteria in their little “do you qualify” survey online. Now we managed to make our payment without being late through March 2010. But April we made a partial and now we just don’t have the money with other life circumstances. Keep getting the run-around from Chase and have lost even more hope after reading posts here. But at least I knew that I am not in this fight alone and I will stand up with anyone else if things get started with a class-action lawsuit. Oh, by the way, my parents had similar circumstances where they had a change in income in 2009 and they went through the loan modification program with Hunington Bank and had their loan modified with drastic savings within 3 weeks!

  29. We have had a mod app in since oct 09. We have continued to make payments but they call us until we make the payment each month. Our loan was supposed to adjust after 5 years. The rate is correct now but the payment amount is wrong by $800 a month. They apologized for the inconvenience and said they will call me when it gets resolved. Meanwhile they said I don’t qualify for a mod.

  30. It’s been THREE years now… we have been approved TWICE but, still getting no where. Still don’t have regular statements, regular payments, etc… They have even been to my home this week to take pictures and ran when my husband came out. I am still showing in loss litigations… not completed (wrong, I have the legal documentation stating other) I have not missed any payments on either modification the only payment that was missed was the two that I was told to in order to qualify. I am in Michigan and have begged my congressmen and high profile attorney’s to consider taking Chase on… this is absurd we have done everything they have asked…. I have retained every piece of paper they have sent, every phone call and whom I spoke with and all legal documentation…. I am ready. However, I do believe after reading all of these that I am no remain hopeful…. especially since they were out this week taking pictures. Makes no sense… I am NOT in foreclosure I have not at least been notified… We need help !!!! Someone has got to be able to help us middle class trying to do right by our responsibilities of a loan / mortgage and wanting to do so… only to be blind sided by our banks????? Makes no sense.

  31. I have had home loan problems with chase for two years now . I refinaced thru Quicken Loans to get away from Chase. After completing the process with Quicken Loans my loan ended with Chase again. I think Quicken Loans is just another part of Chase. In 2 years Chase has taken over 10,000 $ in processing out of the equity of my home.

  32. I was on a 7 months trail payment plan of approved loan modification. I never miss a payment and Chase sold my home last month without notifying me their action. I lost my home. They took my many years of home equity since 1980 and took all the sale money and I was still paying them at the approved loan modification rate.

  33. Chase sued me for 1.1 million dollars and appointed a receiver to my property. The receiver harassed me constantly. Called me and warned me not to go to my property, if I did, she will have me thrown out by the police because they have an injunction from court. This receiver, M Hooper worked with Chase Attorney B. Cornelius and Chase debt collector, J Bartel, threatened to sue me for contempt of court. I have no clue of what was going on with their series of action, it is worse than the Communist Country. This receiver collected the tenants rent and sent me a twenty dollars bill every months for her major improvement on the properties that she planned to foreclose and re-sale shortly after. She got pay $175 an hours by Chase. B Cornelius and J Bartel had been very busy with their scheme. They pad locked my house with belonging inside, M Hooper said that she would auction off the properties inside for money. We were never allow to return to get anything. 2 vehicles were towed by her on the property and there were bills incurred for towing and storage every months. I have hired a vampire lawyer who suck and drained my blood but do nothing for me in my defense. I was dropped because my lawyer told me that he wouldn’t represent me when I couldn’t pay him, he couldn’t work for free. He took 5 thousand dollars and never sent me a bill for his service, if there is any. J. Bartel once told me that property owners needed to be punished and they had good result. It has been half year now that the receiver told my property and harased me and spent money for me unnecessary. What is going on in America, I have equity in my property. Chase can stripped my equity from the property like that and harassed me to a point that I have to see a pschiatricist and on psych medication. In my dream at night, I saw these people employed by Chase chasing me and try to slaughter me like a pig with bloody knives in their hands.

  34. After reading all these problems with chase.. I see that I have hardly to hope in saving our home..I have gone through all the same problems that everyone else has with the loan modification..I have stacks and stacks of papers that I have faxed to them over and over again..They tell me that a underwriter is looking at it..than a relationship manager and so fourth..it goes back and fourth..I make copies of everything and call chase almost everyday i a keeping records of everything and everyone i speak with.. this is outrages..We are just trying to save our home..I think we all need help.

  35. ***TIPS- FOR PEOPLE TRYING FOR…HOME LOAN MODIFICATION!!
    * make sure to make your payment every month on the same date so u do not get kicked off.One day late can kick u off!
    * Even if you are not on a trial program keep making those payments!?even if your banker tells you NOT too!?(I am lucky that i have been advised by decent banker from the Chase Corporate Branch)after 20 debt-collector- bankers telling me the wrong things for almost a year. Now I know what is expected going through this long- stressful- process!
    * If you can now make your payments again,always pay an extra dollar or more-it shows the bank u are able to pay.
    * If the bank will not take your payment at the branch do a WESTERN UNION QUICK COLLECT-those usually always go through.The fee for Quick Collect is $12.99
    * You are more likely to get approved if you show that you can make your payments again.If you are needing a lower payment and cannot keep up with the payments at this time,thinks may still work out but i would have a back up plan just in case they do not.
    *When you do fax all the paperwork FAX FOR FREE AT YOUR LOCAL BANK BRANCH.It is free and since it is Bank BUSINESS they HAVE TO DO IT even if they act rude towards you go to the next teller.
    *If you don?t have a printer or do not want to use up all your printer ink go to the LIBRARY ,use the library computer for FREE and print everything out for 5-10 cents a copy.AVOID KINKOS at all cost unless you don?t mind paying them for something you can do for free!
    *If you need to prove income and you are in a $CASH business now-so many people are like NEVER before(dog groomers,bartenders,car washers ect.)You must open up a checking account and put your cash pay in there every week so it CAN be documented.Put it in and take it right back put if you need it right then.Other wise you will not get approved just by stating your income or a letter from your boss saying that you work for him/her.
    I HOPE THIS HELPS-I FEEL YOUR MISERY PEOPLE!

  36. After having my mortgage financed through Chase for many years, I have been through hell with them for the past two years. I have applied for the home modification program several times; had to fax so many documents, been in contact with different individuals between Ohio, Texas, and Arizona. There is no consistency, therefore, according to the reps I worked with, information that claimed to be incomplete. After all, what happens to all these documents? The excuse I received was that the fax machine was stuck, although the confirmation proved that the faxed documents were processed.

    I have had many sleepless nights over this. I am a senior, and I believe that seniors are usually the targets for all of this aggravation. These documents were lost on purpose for the express purpose of stalling the process; these people proved to be unprofessional, rude, arrogant, and just plain unethical. I had the loan modification for a 3-month trial period. After that, I was denied, and I had been denied since. I had to forward numerous documents, the same ones repeatedly, to different individuals. Every time I tried to contact someone, he or she was not the person who made the final decision as to whether or not I would be granted the loan. I received in writing that I would receive a certain escrow amount, which I did not receive- it is almost 3 months now!

    These people are bold-face liars. Talk about unprofessional treatment; I spoke with a rep today, who informed that I was declined for the loan modification. He actually had the nerve to ask me what I did with my money, since the reason he said for the decline was that I did not have enough money. Is this any of his business?? When I asked him to put the denial in writing, he was so nasty and he did not have the guts at least write me a decent, professional letter of the intent. Does a loan modification really exist? I wonder!
    The reps at Chase Bank do not seem to communicate by writing anymore; when they contact you, the conversation is recorded, and that whatever you say, they can hold it against you, in order to penalize and sabotage you. When they call you, the number that comes up is a number with an actual area code and number, not a toll-free number.
    J.P. MORGAN CHASE IS A LIAR AND A CROOK!
    THE LOAN MODIFICATION PROGRAM NEVER EXISTED IN THE FIRST PLACE!
    Thousands of us are suffering and being harassed from this. This should be reviewed by President Obama?s administration. Hoping that this administration will be honest enough to look into the problem and resolve it in a timely fashion. I want to be in on this class lawsuit!
    My objective is to get out of Chase as soon as possible!

  37. Contact me if a class action is in progress. I’m interested in joining. Was approved for loan mod. and have been making timely payments for months. Now they told me their canceling the MOD and want us out of our house.

  38. After Chase denied my 3rd attempt at a loan mod (That’s right, I put them through 3 separate attempts) they finally said, “We are now going to foreclose on you”. The 3 loan mod attempts took 19 months. I made no payments during that time. I then put a halt to the foreclosure by contacting a foreclosure prevention specialist who listed my house as “For Sale”. After 5 more months of no payments I completed a short sale. The home sold for 50% of what I paid. So I lived there for 2 full years making no payments and I have documentation from both lenders (1st and 2nd mortgages) showing the “debt is settled and paid in full”. So I owe nothing ( Mortgage Debt Forgiveness Act) and will not be 1099’d by either bank. The IRS said I am insolvent for this tax year and will also owe nothing to them. I did this this by sheer determination and following all requests from Chase.( re-submitting documents, income statements, hardship letters, ect.)

    2 years ago after they first said,”We will not help you”, I said ” Fine, no more payments until you do something, anything, to help me save my home.”

  39. I have an admittance to a congressman’s office that income on my modification was entered incorrectly as well as other things. I have called several atty’s about a class action suit. I am definatly in on class action. Just let me know! I could go on and on about my experiece, but it’s useless in this forum. All I know, is if anyone is filing class action, let me know. I have all my conversations documented and one recorded. COntact me at [email protected].

  40. Seeking Attorney To Sue WAMU / Chase Bank. On The Grounds of Inflated Apprisal On Property. Todays Taxable Property Value is $46,000. Home was Apprisaed two times in 2006 by WAMU $325,000 & $265,000 A Loss Of Over $220,000 in 4 Years.

    If anyone knows a Attorney to help me sue, Contact [email protected]

  41. we had our mortgage with WMU, which was sold. They sent us a letter with a new acct. number and a new address of where to send the mortg. payments. Fine. We were never late, and never missed a payment. Two months later, they filed foreclosure notice because they said they never received the checks. The checks were cashed. But legally, that doesn’t count. The only thing that counts is what’s on their books. It got to where our lawyers physically handed their lawyers the mortgage checks. And get this – this still said they had no record. The judge was getting miffed, but legally all that matters is what their books show. It cost us $4000.00 in legal fees when we had never missed/ or been late on a payment. And now, it turns out – they don’t even read over the foreclosure notices. I am looking for a class action.
    Please – get back to me.

  42. we are currently going through hell with Chase.. we have been making so called modification trial payments for a year and a half told in may we finally qualified and documents would officially change that never happened we sent in three months of what the phone rep said was our new payment only to be told last week we were sold to a new company called LBPS ?? then today out of now where get a knock on the door that we are being foreclosed on by Chase Home Finance and we have 30 days to respond by mail to their attorneys… Anyone have any advice on what to do??? We called chase and they say rip up court documents and called lawyers office and are told forewclosure is official..called LBPS and they say everything is being transferred to them but is in hold till november .. which would put us past a 30 day response to attorney WTF???