Chase widens foreclosure review to 41 states

With Attorneys General from all 50 states now breathing down their back, Chase is expanding its review of foreclosure practices to 41 states, according to this article in the Wall Street Journal.  In an interview JPMorgan Chase CEO Jamie Dimon says this:

“No One has been evicted out of a home who shouldn’t have been.”

Oh really?  What about Judi Moser?

She showed Channel 2 Action News reporter Richard Elliot what’s left of her life after deputies and crews evicted her from her home of 29 years — only to put it all back when they learned the bank made a mistake.”

And then they said, ‘Oops, wrong, we made a mistake. Let’s put everything back,'” said Moser.

Moser said it all started when she hit some tough times and called her mortgage holder, Chase Bank, to make a home loan modification.She said she was approved and sent Chase $4,000.But, she said, Chase never processed the paperwork, which caused a mistaken foreclosure in February, and last week’s eviction.

That story isn’t an anomaly.  We’ve seen quite a few stories where people are in the process of a loan modification and they get foreclosed upon, a process called parallel foreclosure which Chase has admitted to practicing.  For example:

We were in the middle of a loan mod when we got the foreclosure notice stapled on our home…we called Chase they said to ignore it and we continued with the loan mod.

That’s right, Chase actually told the homeowners to ignore the foreclosure notice and they lost their home.

Chases limted time bonus offers aren’t really limited

Does putting an expiration date on an offer that never expires really lure people in?  Once again Chase is running an offer of $100 to open a checking account, which expires on 10/31/10.  The thing is, Chase, and Washington Mutual before it, have been running this offer as long as anyone can remember.

Don’t be in a rush, this offer will be around for a while.

Why Chase should be worried about their bad customer service

A new report is available from an organization called RightNow called the Customer Experience Impact Report 2010 and from what it contains, I think there is good reason Chase has gone completely down the wrong path with their seemingly conscious choice to provide bad customer service.

In short:

• 85% of people say they would be willing to pay up to 25% more for good customer service.
• 82% of people say they have stopped doing business with an organization because of bad customer service.

Biggest reasons for people leaving a company:

• 73% of people cite rude staff as an issue
• 55% of people cited issues that were not resolved in a timely manner

Due to a bad customer service experience, 95% of people have take action as a result and 79% of people have told someone else about it.

We’ve pointed out recently how, even though Chase isn’t talking about it, the information available seem to indicate that Chase is loosing customers fast and I think these survey results are spelling out exactly why.  Their customer service sucks and people aren’t standing for it.

Chase refuses to foreclose

Well this is a story with a strange twist:  A customer walks away from his house, hands Chase the keys, and three years later, having received no payments, Chase still refuses to foreclose and is trying to get the customer to take the house back.

chase wont foreclose on my house.i closed my company in 2007 walked into my local chase handed them the keys to my house and told them i was walking away from the house i then filed bankruptcy on half million dollars in debt including 150 thousand on the house. i was granted bankruptcy feb.2008. my problem is chase still has not foreclosed on my house. they keep calling me wanting to refinance a house i have not lived in for three years they keep suggesting i rent it out or something.i have told them i have a new job 800 miles from the house i do not want the house and would they please please take it back by foreclosure but so far they wont and they keep calling. the last call they asked where was i employed now what was my income

Chase bill-pay over pays by $2,100! What?

Just how reliable is Chase online bill-pay?

This customer arranged two payments at one time on the online bill-pay screen, one to his bank for his mortgage and one to Verizon.  Chase sent both payments to Verizon.

To add insult to injury, he gets hung up on by Chase while getting transferred.

We’ve pointed out many times before where Chase has not been good at small technical details and this seems to be another such case.

What is this site worth?

I had to laugh as I came upon the entry for our site on priceofweb.com.  What is our site worth?

chase-sucks.org estimated price worth is $1347

They’ve underestimated the traffic and grossly overestimated the revenue.  What they can’t calculate is how much this site is worth to JPMorgan Chase (or how much it costs them), which would be a much larger number, but probably much much smaller than all the money they make off of their poor treatment of customers.

The sad truth is that for JPMorgan Chase, bad customer service has so far been a winning strategy, financially at least, but they sure aren’t making any friends.  They only way to make the strategy of treating customers poorly, and charging them excessive fees, is for customers to raise a big stink whenever Chase behaves badly.  If enough people did this, it would no longer be profitable.

On hold with Chase for over 4 hours

This customer was decided to document via YouTube how long he had been on hold with Chase, 280 minutes!

The Chase no-fee checking account is a fee trap

How does Chase get away with providing so much misinformation to customers?  Stories like this keep piling up.  Are regulators and lawmakers not aware of them?  Perhaps it is time for people to write to their legislators about problems like this?

So against the recommendation of some of you wise folks on piggington, I went for a Chase checking account 6 months ago from a $100 new customer promotion. Why not, I thought since I needed a second account anyway. Chase opens a checking and saving account…

Plus the accounts would have no “fees” as long as you made 5 atm transactions per month or have direct deposit…or so I thought….

So I started out using it normally, with my 5 atm transactions per month. Stick of gum, ATM….Grocery ATM…Stamps at the post office ATM…No big deal….

About 3 months later, I get a note saying:
“Welcome to the Chase Visa ATM Rewards Program. You will be charged $5/month for being in this program…
WTF? You’re kidding right…So I call and talk to them about how this was suppose to be a no fees account…They say “sure, it’s no fees, the accounts are no fee. The ATM card you have however has a fee…..

At this point, I really want to close the chase account, but I recall there’s a “fee” for closing an account <6 months…So I’m arguing back and forth with the person, and finally, the 3rd supervisor says that “well, there’s another type of ATM card that isn’t part of the rewards program that doesn’t have a fee….Well switch you to that one..” Fine, I say.. Why they didn’t do this to begin with, well I guess they do this to try to wear you out, because obviously the first supervisors didn’t indicate there was this option….So at this point, I figure screw Chase. I’m not going to use the ATM. Instead, I setup direct deposit and deposit $1 each month…No fees…

Now it’s six months later, and I’m ready to close the account. I call the call center to tell them I’d like to close the account, and have a check cut from the checking and savings account sent to me….They tell me the savings account is $0…..What??? I had $15 in that account… Well, it turns out that 3 months ago, they started charging me a $5/month service fee for the savings account without telling me…I go back and forth with the agents and a few supervisors….

Me: “When I opened the checking account, you threw in a free savings account”…

Chase: “the savings account always had a $300 minimum deposit requirement, or a $5 service fee per month… ”

Me: “Bullshit…You changed the terms without telling me..I had this account for 6 months and only deposited $15 in this account from the beginning…If there was a minimum balance requirement since the first day , I would have had $0 3 months later, and -$15 now… 6 months later…”

Chase: “…Hold on a second please sir…Uh, we’ll credit you the $15 back on Tuesday, but just to let you know, starting next month, you need to maintain $300 or pay a $5/month fee…”

Me: “No problem: by tuesday, after I get my $15 back, I won’t be a customer anymore. BTW: can you give me the confirmation number for the $15 credit you just applied? “…

Chase: “Why?”

Me: “Because in case I need it …Confirmation number please…”

Chase: “Don’t trust me?”

Me: “No, I don’t..Would you, if you were in my shoes? Confirmation number please. And your name…”

Chase: “XXXXXXX, and my name is XXX”

Me: “Thank you…(click)”

Just to be extra sure, I called Chase back and asked a different agent if the confirmation number was valid….it was…fortunately….

… I know, I know… I think a few of you warned me about this…But I don’t like to listen to other people, even if it’s for my own good….