Rumor has it that if you make a deposit at a Chase branch through the drive through (or in branch?), there will be less of a hold placed on it than if you do the deposit through the ATM.
Tips | admin June 12, 2010 | 
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This came from a comment to one of our posts, but it is much to interesting to leave burried there.
Chase has been reading a lot of Kafka lately. Especially, the Castle, and they’re inspired!: There are lots of people caught in a terrible loop of Chase “losing Documentation” and making people continually re-send in forms for an MHA even after they are appoved for one by the gov’t. So we had a Chase bank mortgage specialist at a Chase bank fax all our forms for us but Chase still claims they didn’t receive all the required information and then demanded even more information not asked for on the application. Since we own and live in a duplex we must now send them proof we do not have not formed a homeowners association with our housemates, for example. But the real test of their devious cleverness is a scam based on their own bank statement paperwork. Please admire its Kafka-esque brilliance. On Chase bank statements they leave the last page “left intentionally blank” but they do not number this last page. For example, a Chase account may have 6 pages and all the pages say, i.e., 1 of 6, 2 of 6, but page 6, the blank one, is not numbered 6 of 6. we have been continually turned down for an MHA because we are not sending them, Chase- holder of our mortgage and the bank where we have our accounts- complete bank statements even though we do send them that 6th page. Since it doesn’t say 6 of 6 they claim our application isn’t complete and make us start over from the very beginning. Going on Month 7. Evidently that’s nothing, most people who have tried have been trying for twice this long. There is one recorded incidence of Chase approving an MHA but it was too late and the house was already in foreclosure…
Anyone see the movie Brazil? That is just brilliant, don’t number your statements properly so that anyone sending them in as proof of a bank statement will have an incomplete statement. Brilliant!
This article from back in January 2009 quotes Chase as saying that it had planned to modify $1.1 trillion on loans and Chase could now be considered the most loan modification friendly lender in the country.
Well, we all know it didn’t work out that way, but if you want definitive proof, just read the comments to that article. Even now, almost 18 months later, people feel compelled to dispel the myth that Chase is loan mod friendly by sharing their Chase loan mod horror stories in the comments.
This is probably the most horrible thing I have heard come out of Chase’s inept culture.
When they purchased a home in 2006, Perez and Vargas obtained two loans from Chase’s predecessor, Washington Mutual Bank, including one loan in the amount of $312,000 secured by a first trust deed, and a second, home equity line of credit for $38,610 (the loan transactions). On February 6, 2008, Perez and Vargas withdrew $38,000 from the home equity line of credit, receiving a cashier’s check.
On November 6, 2008, Perez and Vargas presented the cashier’s check for payment at Chase’s National City branch. A branch employee informed Perez and Vargas that because the cashier’s check exceeded $10,000, cashing it in full would “require the bank to generate substantial paperwork” and cause a delay in receiving the funds which “could be avoided if the bank paid out $10,000 in cash and the balance in another bank check for $28,000.” Vargas and Perez were informed that to cash the $28,000 check that day, they “would have to go to three other banks and cash out each subsequent bank check in amounts of $10,000.00 or less at each bank.” Following the direction of the bank branch employee, Perez and Vargas cashed the $38,000 cashier’s check, receiving $10,000 in cash and a second cashier’s check in the amount of $28,000. Perez and Vargas proceeded to Chase’s Chula Vista branch, where they were given another $10,000 in cash and a third cashier’s check in the amount of $18,000.
Perez and Vargas then sought to cash the $18,000 cashier’s check at Chase’s Imperial Beach branch. According to declarations submitted by Chase, Perez presented the $18,000 cashier’s check to an operations supervisor, Nena Gelacio, who reviewed information on Chase’s computer system indicating that Perez’s account required investigation for “excess activity.” Gelacio became suspicious and asked Perez why he was attempting to cash a check that had been issued earlier in the day. Perez told Gelacio that he had cashed similar checks that day at Chase’s National City and Chula Vista branches. After receiving this information, Gelacio, the branch manager and assistant branch manager conducted an investigation and learned that in February 2008, Perez and Vargas had received a $38,000 check from the home equity line of credit account, which had not been cashed as of November 5, 2008, and that the account was closed in May 2008 and put “on collection.” The assistant branch manager called the San Diego County Sheriff’s Department (Sheriff’s Department) and requested that the department “investigate a possible fraud committed against the Bank by Perez and Vargas.”
Sheriff’s Department deputies arrived, and the assistant branch manager told them that the bank believed that the $18,000 check Perez was attempting to cash was “drawn on funds from a closed account.” The deputies took possession of the cash held by Perez ($20,000) and the $18,000 cashier’s check, and arrested Perez. Perez was jailed for five days. The San Diego District Attorney’s Office later dropped all charges.
Did you get that? The customer followed Chase’s advice and was ultimately jailed for it.
I’ve always found it interesting that Chase has never tried to contact us to see what it would take for us to stop publishing this site. It is clear from our server logs that Chase personnel do regularly visit our site. Whether this is just random Chase personnel bored with not doing their jobs very well or upper level management types keeping tabs on the vocal dissenters, is a big mystery.
Well, in a twist to this game, apparently someone from the Comptroller of the Currency, who regulates Chase bank visited chasehomefinancesucks.com. Just for the record, I haven’t checked our logs to see if we have had similar visits. We can only hope they are on a fact-finding mission and plan to actually start regulating banks like JP Morgan Chase.
Chase may call them homeownership centers, but they are more aptly called foreclosure prevention offices. Well their latest one is in the San Francisco Bay Areas East Bay region which has been rife with foreclosures for a good two years. Why so late to the party? The question remains whether Chase is truly committed to working with people facing foreclosure of whether their move is simply a political one.
Foreclosure, Loan modification | admin June 11, 2010 | Comments (0)
Chase is pushing their Chase Leisure Rewards for your debit card which runs $25/year. When one customer signed up the teller convinced him that he would be getting hundreds of dollars back per year, making it well worth it. So he started using his debit card for everything expecting big rewards. After three months, his rewards added up to a sum total of four dollars.
You might want to avoid this “deal”.
Is this Chase’s new way to force people into signing up for services they don’t need?
This customer went to a Chase branch to complain about an incorrectly levied service charge and was bombarded by offers of every kind. At one point, the teller told him that they would waive the fee if they could show him how to use online bill payment.
His other observation was that the fact that Chase employees were bombarding customers with a ton of offers in the branch made the wait time longer for those in line.
Nice work Chase.
