The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Chase Mortgagescam

B

August 7, 2009
Chase is my current lender on my home. In March of this year, I contacted Chase, regarding refinancing at todays current rates. I was told for $750, they would do a streamline, no doc loan, and reduce my current interest amount (4.75%). Bear in mind, I was not asking for additional funds...just the lower interest rate. I have at times been up to 3 payments ahead with Chase, have stellar credit, never missed a payment or been late with Chase. I was told this process would take about 30 days. Now, 6 months later (and of course the interest rates are higher), I was declined on this loan. They said they could resubmit it and get me approved under the new programs, but of course at a higher interest than what I locked into in March (almost 5.5% now). I have been promised "the loan will close next week", or "in a couple days" Their appraiser, under appraised my house by nearly 100k, but I still had plent of equity to close this loan. I have been tap danced, and lied to for 6 months, to now have this end up that I will not be able to probably ever have the rate promised to me. Chase in my experience, is a very dishonest lender, and i recommend avoding them at all costs. I now have to start the process over, and will close with another company, but now at a higher interest rate. I will be seeking legal damages for the difference of what i will be losing on the loan now. If any attorney cares to hear my case, please contact me!

Responses

  • Jo
    John Hardin Aug 12, 2009

    I have the EXACT SAME complaint with Chase. Exact Same story. This is a CRIME! Chase takes your $750 and wastes a half year of your time. Our loan was APPROVED! Just never closed. And we lost the chance to get the 4.5 rate available in March 09 anywhere else. A class action suit should be filed against Chase. Where is my loan? Where is my $750? I've been robbed by these criminals.

    0 Votes
  • Ki
    Kitty714 Sep 05, 2009

    I also have ended up with Chase as my mortgage holder...I unfortunately got stuck in an adjustable loan which I was going to refinance out of when my company got sold and I ended up "self-employed". Though I was in the same field and could prove that I was earning the same amount, Chase would not refinance me out of the adjustable loan. Then, I had to switch jobs again and was making less money. I went to Chase and expressed concern over the fact that my loan was about to adjust in a couple months. I was told not to worry, that interest rates were down all over and my mortgage would "probably go down"...three months later, I get a letter saying my mortgage has gone up $500.00 per month. So, in March I immediately called and wanted to get a modification to get out of the adjustable loan...I have gone through a nightmare of excuses, constantly being told "it will be another 30 - 60 days"; finally three weeks ago, I was told "we have the money to lend so, send us updated information and we'll get it right over to an underwriter" . I finally felt hopeful...something was going to happen, they were going to help...I found out yesterday that I was "denied" because I can pay my mortgage. I may not be able to pay my utilities, for food, for anything but the morgage, but they feel I am not qualified. I am at my wits end. There is no way these crooks would even consider giving me a mortgage, but will not do anything to help...this has been the most stressful, fustrating experience and sadly, I feel someone got all that money for "Help for Homeowners" but it isn't any homeowner that I know.

    0 Votes
  • Ca
    cant_stand_chase_customers Oct 07, 2009

    its sooooooo easy to blame Chase isnt it? why dont ANY of you people stop and realize that CHASE ISNT THE PROBLEM. the INVESTOR is the problem. Chase doesnt make the rules, we cannot tell FNMA, FHLMC, GNMA, etc. how to spend their money. were just stuck servicing and dealing with you peoples crap.

    -1 Votes
  • Ve
    Verdad Oct 11, 2009

    Ladies and gentleman, please realize that it is understood that you love your home. It was probably appraised for a value much higher than you initially thought it would 2-3 years back. Please check your public records to see how many foreclosures are in your neck of the woods. Your house value will continue to decline for at least the next 1.5-2 years.

    And "cant_stand" knows the deal; the bottom line is that is not up to the banks...

    Before incriminating yourself with idiocracy, how about doing a tad bit of reading. Just an FYI (not you "cant_stand----I give you props.)

    -1 Votes
  • De
    defhero Dec 15, 2009
    This comment was posted by
    a verified customer
    Verified customer

    Wow, word for word this just happened to me in Oct. 2009. Chase is a scam financial institute and all they are doing is taking EVERYBODIES $750 and lying through their teeth to get it! I think this is a new way to keep them out of the red! No One should do business with chase, because eventually they will screw you, just read the thousands of complaints on chase and they all have similarities!

    1 Votes
  • De
    defhero Dec 15, 2009
    This comment was posted by
    a verified customer
    Verified customer

    The few of you who are posting, it isnt chases fault = definitely work for chase or you would know the lies they are telling and the pain they caused not to a handful of complainers but to thousands of us!

    2 Votes
  • Ch
    chase employee Feb 09, 2010

    Fyi for every loan that the company does not complete it cost $1250 for the company...use some common sense.

    $400 goes to an appraiser.

    you get $350 back.

    $350 goes to a title company (regardless if you close)

    then there is the overhead of the staff, phones, buildings lights etc

    The goverment is constantly changing guidlines tell them to stay out of the banks business...no bailouts for the ones that do bad business (chase did not use a dime, bailed out the 2nd and 3rd largest bank failures). And never lost money buy doing bad loans for people who could not pay dont get mad buy stock. Bet all of you complained about gas prices while I invested in exon.

    -1 Votes
  • Ch
    ChaseMortgageRunAround May 22, 2010

    We also have the same exact problem with CHASE MORTGAGE. I applied over 2 months ago for a refinance on my mortgage. I have NEVER been late on a payment and my credit is excellent. We were quickle approved and they were quick to take the "application rip off fee of $395.00". After two months on what should have been a VERY SIMPLE refinance they have dithered around requesting this and telling me that they are reviewing our application for quality assurance. What a joke!
    I have had numerous calls with Kemp Chindavong & Brian Gussler who have had no answers for us.
    We have always paid our debts we are being penalized... this seems to be the way of our world now. Dont pay your bills and have bad credit and you will be handed whatever you want on a golden platter. I will keep you updated but at this point I believe I am being taken for a ride by Chase Mortgage

    0 Votes
  • Ro
    Ron Verrre Sep 03, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Chase has had me in re-mod for 5 months now. I've been sending in my regular payment amount during this period. Now they are not accepting my electronic payments at all. TARP gave all of the banks their money and now they are doing everything to make sure you still lose your house.

    0 Votes
  • An
    angryjohn Oct 05, 2010

    On July 3rd I came home from vacation only to find in my mail a letter from chase stating that we were in foreclosure. Confused by this letter and a little amuzed since we had never made a late payment I called Chase and asked them what this was. I was told by the CS rep that I spoke with that this was done in error and that they already moved us out of foreclosure. This was only the beginning of our nightmare. Since then we have been denied a refinance through Chase because:... you guessed it. We have a foreclosure on record. We have corporate advance fees that have been piling up and whenever I make an overpayment on my account and request that it be put towards my principle it gets credited towards the corporate advance fees. I have filed not one but two complaints with the controller of the currency which we have not gotten settled to date and in the meantime they have sold my loan. All though I had an excellent credit history and never paid any late payments Chase has ruined my credit score. I can't even co sign college loans for my kids and no one there seems to be able to fix their errors. As for you Can't Stand Chase Customers - I can say No this is Chases fault. They already tried the blame on the investor (AKA Fannie Mae) I called Fannie Mae and was told that they only report what chase tells them. I spoke all the way up to level three inside Fannie Mae. So stop being such a corp guy and realize that Chase has issues and just maybe it is not the customer, but incompetence inside.

    0 Votes
  • Ke
    kelsbels Nov 23, 2010

    A friend of mine had a mortgage with all her taxes included to avoid any unnecessary stresses...chase told her she was paying to much and offered her a loan a hundred buks cheaper...ten months later now she owes two thousand dollars bc they never paid her taxes then did pay them twice and now they want a lump sum which is what she never wanted to begin with...isn't this loan modification fraud?...telling her shed get cheaper payments with them and all along knowing they weren't including the taxes she wanted included...any lawyers out there that can help let us know...ridiculous...its laziness, and inconsistancy and no communication that causes this not banks.

    0 Votes
  • Bi
    BILLPA Jan 16, 2011

    Chase Mortgage is the worst company to deal with hands down. Every thing they do is rubbish, WAMU was so easy to make a payment, so effortless and the people were knowledgeable. After getting a refi last year (I had no idea who would pick up my mortgage) I even told the mortgage 3rd party that PLEASE no Chase!!!, but right at the table to sign on the dottedline, it was then revealed it was Chase again ;(((. I almost walked out even though I would save 5 years and $100 permonth~ 1.75% less on the mortgage. It has been a nightmare since then. The Phone pay system usually doesn't work (Wamu was 24/7 no hiccups ever in 8 years) so that means since they get MLK holiday off, I will be late (the first time in 10 yrs+). I will file a BBB complaint if they won't take the late charge off, I talked to 5 people today and all said that they cannot take my payment even if the phone pay doesn't work. The online system doesn't work right away it has to send two small payments to your bank 48-74 hrs., only then you can activate it. Really a poor company to deal with and I WOULD NEVER recommend this bank for anything even the most simple task, like a bank account. THEY ARE THE WORST _CONSUMER BEWARE!!!

    1 Votes
  • Iw
    IWILLSURVIVE99 May 07, 2011

    I went into an office just to make credit payment and a rep asked if I wanted to open a checking acct. I humored them and sat at the desk and let this rep give me the info on the accts. I laughed and said "NEVER!!! I hate chase!" They are thieves and as soon as Im done paying off this acct. I will NEVER EVERRRR put one foot thru these doors. It felt soooo good! Bank of America gave me a better rate. Only credit card I will carry. :)

    0 Votes
  • Tj
    tjm69 Jun 07, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Chase has foreclosed on the home next to mine. The grass is almost two feet high in places because they do not maintain the lawn. Chase takes no responsibility for maintaining homes that are in foreclosure. Their website boasts of their social responsibility, but, in reality, their practices only hurt neighborhoods.

    0 Votes
  • Bo
    bobbbbbbb Mar 22, 2012

    So instead of blaming the neighbors who couldn't pay their mortgage you blame the bank who foreclosed on the house? That makes absolutely no sense.

    -1 Votes
  • Bo
    bobbbbb Mar 22, 2012

    If everyone hates the bank so much, why not just pay off your mortgage, cut up your credit cards, and use cash for everything? Oh wait... you can't. Yet somehow the bad guys are the ones who loan the money to help you finance your lifestyle? No one twists your arm to open a mortgage or buy things on credit. Quit ### or quit borrowing. You can't have it both ways.

    -2 Votes
  • Al
    Alice Burnette May 22, 2014

    Chase has charges on my mortgage coupon of $700 even though I have had this loan for many years. I have had nothing but trouble with this bank.
    They were keeping all of my money that I paid over my principal and I designated on the check and in writing they were to apply the extra cash to principal but they refused.
    They had me down for a late payment for six months and they had cashed the check. They knew they were paid. It took six reps to find out what was going on and then they did not refund any interest or apologize to me.
    They bought my loan years ago and it has been a night mare. I hate this bank. I cannot believe anyone would use them for a checking account or any other business. Their reputation is getting so bad most people know to stay away. Banks are usually empty. They will be sorry. Just make sure you all spread the word because I do every day.

    1 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions

    IN THE NEWS

    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.
    Do a little research on the seller. Visit consumer complaint websites like ComplaintsBoard.