Phoenix, Arizona

Copy of letter to CEO of Chase. We may lose our home because of their bad business practices and misrepresenting the consumer.

Jamie DimonChairman and CEOJPMorgan Chase & Co.270 Park Ave.New York, NY 10017-2070Dear Mr. Dimon:I do hope that you or the person that you pass this letter off to actually cares about your customers. From the treatment and experiences I have had with representatives of your company I don't believe that anyone there does care about the customer only how much money you can make off that person.

We purchased our home in 2008 as a new build from a builder. In January of that year we had a very good interest rate "locked in". About three months later we were told that the interest rates had changed and so we no longer had that "locked in" rate. We did not like this but already had too much invested in the home to back out.

We have tried several times in the last 2 years to refinance our home with outside companies as well as with Chase. We have checked many times and we do qualify for every government program that the banks are supposed to have accepted to work for customers in return for the T.A.R.P. funds that they received. We have been rejected on every avenue we have taken with your bank. One representative even had the nerve to tell us to "not make your payments for 6 months then we will refinance your loan". What the *** kind of advice and treatment is that coming from your representatives?

In July of this year we sent in all the documentation necessary to have our loan modified through the modification program. It seemed that every week we were told that we were missing documents that were sent in or that a certain page wasn't signed (all pages were signed that needed to be). Your company kept losing documents and finding very ridiculous reasons that kept delaying the process.

Now in September we received a letter notifying us that our loan has been sold to another lender. How convenient for Chase. This is too much of a coincidence that our loan is sold during our attempts to have our loan modified so that we can afford to pay our mortgage. Our mortgage went up, by the way, due to Chase grossly mismanaging the escrow account and got us behind on our property taxes and now we have to pay extra to catch those up. I wish that banks were held legally and financially responsible for mismanaging accounts. Your company should pay the bill for your screw up not the customer.

When we first received the letter of our loan being sold, I called and received the worst treatment I have ever received from any company. The representative would not give me her name, kept interrupting me and talking over me while I was speaking, and even had the nerve to place me on hold because she did not want to hear what I had to say. I asked for a manager and she refused to connect me to one. She said that she would email her manager and he would call me back (which he has never done and it has been over a week now). She told me that my call was not a "manager" call. I told her she does not have the right to make that decision. I let her know that if I, the customer, state it needs to be handled by a manger then it has become a manager call.

I now called back and after several days of no one returning my calls finally got ahold of Mike in the modification department. He told me that our modification has been denied and tried to give me some bogus reasons that have to do with I or my wife losing our income for one reason or another such as death, being laid off, having to leave work to tend to a family members bad health etc..

I do not believe it when he or any other representative states that our modification was not approved because of the loan being sold. I don't believe it at all. The facts are we requested modification, chase kept delaying the process by repeatedly "˜losing' documents, we receive notification of loan being sold dated September 13th; Mike told me that the modification was denied on September 17th.

I have been told by Mike and the very rude person that has no name, that Chase doesn't make the decision on the modification. I have been told that is done by Fannie Mae, the investor. I know this is a bold faced lie. Fannie Mae is not a loan investor they are merely a guarantor of the loan. They do not care if the loan is modified or not because it does not affect their bottom line. Chase is (was) the owner of the loan and has (had) all say in the decisions of that loan.

The facts speak loud and clear for themselves. Chase sold our mortgage to another lender to avoid having to modify our loan.

As of October 1st, our loan will be handled by another lender. I know that we will have to go through refinance and modification requests all over again. I hope that they care more about their customers than you do. When customers are treated the way that we have been in our situation or similar ones, it is no wonder that many people just give the home back to the bank. They are treated rudely and are not given any assistance when it is desperately needed because of the greed of the bank. But I guess you need to get your money to pay your rent on Park Avenue somehow.

Sincerely,Chase Mortgage number XXXXXXXXXX

P.S. I signed it from the mortgage number because that is all your customers are to you, a number.

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I can totally relate! You are very lucky Chase didn't STEAL your property from you like they did to us.

We had 2 rental properties that we financed with a different lender on the same exact day, for the same exact amount of money, and at the same exact interest rate. Then we were notified that Chase Bank purchased our mortgages from the original lender. Chase Bank somehow turned them into home equity lines of credit instead of conventional mortgages like we originally set up. For many years we always send payments for both properties in one envelope without any issues.

All of a sudden Chase is telling us we haven't made a payment on one of the properties in like 6 months! Every time we've ever called Chase they were never able to figure out which property we were calling about, their representatives were very rude, and not one time were any of them able to help us! Instead of sitting down with us to figure this all out they put the house in foreclosure, tacked on thousands of dollars worth of fees to make sure we couldn't afford to pay it all, and then finalized the foreclosure! They flat out STOLE our property!!!

After doing some searching online we are finding that we are only 1 of many other people they did the same exact thing to. I would love to find a contact like a lawyer or something that represented one of these other people to find out if we have any recourse!


Beware of lbps also look under lbps mortgage scam just google lbps they suck as does chase cancel all of your credit cards with chase tell all your friends to do the same if you bank with chase remove your money checking savings whatever they are ***


I am with Chase and about to file for a mortgage modification.

I fear exactly what you have described.

Does anyone know if it is better to pay one of these loan mod companies?

Can they deal with Chase? I presumed it was best to try with our mortgage holder but my instincts tell me to beware. I need guidance.


Our modification application with Chase began in February. We had the same experience as you did with regard to "missing documents" etc., although we knew we had turned everything in. Chase put us on a "forbearance trial period" where we didn't pay one month, then paid a reduced payment for three months - but this plan was given by phone, not in writing.

July 13 we received a letter stating that we did not qualify for the Making Homes Affordable modification, but that we may qualify for an in-house plan.

August 1 we received a letter from a new company (IBM LBPS) indicating that they were now the servicers of our mortgage. They had no record of the modification application with Chase, only that we were in default as a result of Chase's "forbearance trial period."

We applied for modification with LBPS, but we are receiving the same runaround with documents, etc. Additionally, they refuse to accept our payment unless we can pay the full amount that we are behind. We have retained a lawyer, and are now pursuing a short-sale on the property - something that we NEVER intended to do. We are also contacting the Atty. General of our state to file a complaint. This has SCAM written all over it.