Guy tries to pay mortgage in full, Chase refuses
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.
Bad bad Chase, Ineptitude, Lawsuits | admin June 8, 2010
