Verbal vs written modification
This particular case, where Keith and Sharon Lilley accepted a verbal modification of their mortgage and then were foreclosed upon by Chase, was unfortunately dismissed by the court.
They “applied for modified terms on their mortgage loan with a 125 page fax on April 30, 2009.”4
In June 2009, the Lilleys accepted a verbal modification of the mortgage, and made payments as agreed under the modification through November 2009.
On November 20, 2009, JPMorgan sent an Acceleration Writing (Notice of Intent to Foreclose) to the Lilleys.
The lesson here is don’t trust what isn’t written and properly signed.
Foreclosure, Loan modification | admin November 1, 2010
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By Keith Lilley, December 16, 2011 @ 12:54 am
Chase-sucks.org is an appropriate site for modification and foreclosure and other such “Bad/bad/bad” Dirty things Chase and other things Chase and the big banks have done to the consumers!!!
My wife and I are still fighting the bank and the appraiser in state court for a number of predatory violations!! Unfortunately some “Causes” have been dismissed due to statutory timelines! Had it not been for the Statute of Limitations in years I sincerely believe we would have nailed Chase to the wall on a number of those dismissed!!! Have they considered coming to the table to discuss any form of modification with us during these past two years of “Hell” they have put us through despite their “Misdeeds”? The answer is “NO!” The big banks do not want to see the consumer win on any front because it will spring a leak in the damn that will become even bigger!!! We were told to file a “Second Request for Modification” and it would be Expedited!! due to previous paperwork submitted!! When calling JP Morgan/Chase if you do not get your modification supervisor the “Voice Mail” states “If you are a JP Morgan/Chase customer and this is in regards to a mortgage modification you can expect to hear back from us regarding whether you have been Approved or Declined in approx. 16 to 20 weeks! Well my “Expedited” Second Modification took 38 weeks to hear from them and was Declined a second time!!! Chase gave us a Construction Loan to build a retirement residence we would not be able to afford upon retirement and switched interest options, truly predatory!!! They qualified us on faulty paper work by the loan Officer that he created!!! The Appraiser over appraised the raw land in comparison to other appraisers at the time and also claimed on the appraisal that our bottom walk out/basement area had the equivalent dollar construction value as our upstairs area and certified that to Chase which was “False” for a higher “Take Out” Loan value which we had no idea of!! Despite our paying Chase for the appraisal he wants to walk because of a “Time Limit” and the “Fact” that we are a “Third Party” and it was Chase that contracted him! JP Morgan / Chase truly does suck!!
By Keith Lilley, January 1, 2012 @ 10:43 pm
The circus with JP Morgan Chase Bank conitinues!! In regards to Verbal vs. Written the banks are being very cagey in that respect! They are not placing very much in writing, so they can escape being challenged in the court room!! In the Third Judicial District Court for Summit County, State of Utah Keith & Sharon Lilley Plaintiffs, vs. JP Morgan Chase Bank; and Blake Ingram Defendants judge Ryan M. Harris Concluded:
Plaintiff’s Motiond to Amend with regard to the estoppel claims is Granted in part and Denied in part. However, the estoppel claim may proceed to the extent that it is seeking remedies and damages other than enforcement of the alleged oral loan mod.!!
Plaintiffs case between Chase shall proceed,with the First claim “Negligent Misrepresentation (regarding the Lock-in Agreement)
the Second claim Concealment (regarding the Lock-inAgreement) partial the Third claim Breach of Contract (regarding the Lock in Agreement)
the Fifth claim Breach of Contract as Pertaining to the Modification of the Loan
The Lilleys are in the process of appealing the Dismissal of Claim against the appraiser Blake Ingram to the Appelate Court!
In the meantime JP Morgan Chase despite Keith And Sharon Lilley being current with their existing mortgage and paying via On-line from their Chase bank account had their monthly payment decline in December of 2011 with a notation “Reject/Confidential/Legal” A definite violation of RESPA Federal Law.
The Lilley’s are and have been current with all required payments to JP Morgan Chase Bank.
By Keith Lilley, July 6, 2016 @ 11:42 pm
Three and a half years later I look at the above comments and it makes me sick. Jamie Dimon President of Chase is a ruthless uncaring executive that has destroyed the lives and repossessed the homes of thousands of its customers with no care in the world or consideration of how they screwed their trusting customers.
I look back at the Dream home we built with a loan Chase should not have given us due to the fact that I was retiring, this information was known by the loan processor in San Luis Obispo.
Thus they gave us a Predatory Loan that we were attempting to renegotiate with them. They did not care, they lost paper work and their promise of timelines for completion or an answer were never within the time quoted by them.
I look back at the years and money spent to bring them to the negotiating table and it makes me nauseous to hear the Chase name along with that of its President Jamie Dimon. The loss of our home due to their improper handling of our loan documents was what I would consider to be cruel and harmful. They gave no consideration to the documentation given them in hundreds of pages and even refused to consider using the US governments assist funds to renegotiate the loan.