Cindy reports:
Trying since April 2009 for home loan mod.. made my payments.. did everything they asked.. and now on June 23, 2010.. my property of 25 plus years will be sold at auction…i’m fighting this.. but after reading your letters.. i think this is what they do.. i also.. submitted paper..after paper.. call after call.. and now no one i’ve spoke with is there.. and they can’t find papers.. or say i didn’t send papers..
What can you do ??
We’ve reported this same exact scenario many times. What is still an open question is whether Chase is doing this on purpose or because they are inept and just can’t seem to get their act together.
Apparently JP Morgan Chase’s brilliant commodities traders lost $250 million on a single trade that bet on the differential prices between the costs associated with shipping coal in northwest Europe and the price of delivering coal in South Africa.
Nice job guys!
If you use an iPhone, rest assured that the app store is policed and only apps actually provided by a particular financial institution can be downloaded there for that institution.
Not so apparently for the Google app store for Android phones. Google recently removed 50 applications (all by the same developer) that purported to be for various banks, out of concern about such apps harvesting peoples account and login information.
So be careful on the Android marketplace for now if you are looking for a Chase app.
Sometimes you just have to stand back from all the negative news about Chase and laugh. It is really quite hilarious what they do at times.
Like this latest letter Chase’s Paymentech subsidiary sent to customers, under the guise of being even more transparent with its customers about its merchant processing fees. Even one recipient of the letter, a lead plaintiff in the lawsuit against Visa and MasterCard, can’t understand what they are trying to say.
That BankSimple concept we wrote about a few days ago is looking better and better.
If you can read through all the legal jargon, this is an interesting story.
It is hard to understand all the back story, but what is clear is that at some point, Robert Traversari wanted to write a check to pay his entire mortgage (some $150,000) off in full. So he wrote Chase a personal check for the full amount.
Chase refused the payment saying that it was their policy that payments over $5,000 needed to be presented as a certified check. They foreclosed or tried to foreclose and promptly got sued by Mr. Traversari.
The major discrepancy is that the mortgage was acquired by Chase from another bank and the original mortgage said nothing about payments over a certain amount needing to be presented in a certified check.
This has to make us wonder whether Chase really just wanted to take possession of the house and had no interest in following the rules.
I hereby nominate Chase for the asshole of the month club.
Bank of America’s Countrywide unit apparently targeted customers facing foreclosure with exorbitant fees for things like appraisals.
Given that Chase seems to be one of the sleaziest banks around, considering they have admitted to doing things like rearranging the order of deposits and debits to maximize overdraft charges, I can’t help but wonder if they will get caught up in this type of scandal.
Tippecanoe County in Indiana decided to dump Chase for a smaller local bank because they receive higher interest at the smaller bank.
Hmm.
I’ve lives in San Francisco, famous for its fog, and now live south of the city on the peninsula, where fog is not an issue. Still Chase puts up billboards in my area touting how you can find a branch even through the fog, clearly showing they don’t have a clue about geography or local climate.
I came across a report of another billboard, this in actually in San Francisco.
China Town is all the way over the hill.
Bad bad Chase, Foreclosure, Loan modification | admin June 11, 2010 | 
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