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I made a $7,000 "Principal Only" payment online on Nov. 15th. Clearly a field for "Additional Principal". When I checked it a week later, I discovered only $5,035.59 went towards principal and the additional amount was applied to my Dec 16th mortgage payment, and showing my next payment was due Jan 16th. (Set to Autopay.) This same thing has happened with Chase many times over the years of working with them.
Other times in the past, we mailed a check with "Principal Only" written on the check, and they applied it to our next 3 monthly payments instead. This is why we decided to do additional principal payments online... But NOPE, that is not a sure thing either. I saw on other reviews here, even calling and making a principal only payment on the phone is not reliable. They still applied it to the next monthly payment. It seems to me they have a shady internal policy to prevent you from paying off your loan, hoping people don't check/notice what happened.
Chase is outstanding when it comes to helping customers navigate through tough financial times! The support I received from Jennifer ** in keeping my home 4 years ago was OUTSTANDING. She helped me navigate through a very tough financial situation with expert advice while expressing empathy and support to the ultimate degree. Recently I reached out because of a short term financial setback and Scott again responded with clear and concise explanation of what to expect going forward. Yes I understand that they consider the consequences to their company when facing foreclosures but their customer support is so completely emphatic and genuine when advising you on the best path forward. Thank you Chase for your policies and your hiring of the best customer advisors I've ever worked with.
Stay clear of Chase Mortgage. My father passed away in 2009. There was a probate hearing in 2010 at which time the home was given to me. I called Chase, numerous times to get the loan transferred to me and they told me that they do not recognize the court order because they were not there. The court gave them three months to appear and they did not show. That is why it was awarded to me. I attempted to get the loan in my name by working with Chase. Each time they sent me paperwork, I completed and sent back, they would lose them, a form was sent in the wrong format, or they would say they never received them. It took me three years before a representative got me on the loan as a contact person just so they would talk to me about the loan details.
Once she helped with that I asked to continue to get the loan in my name and she said that it was someone else area not hers. When I attempted to find out who to talk to, no one knew who I needed, yet they would ask me time and time again if I wanted the home and would be keeping it. I had been making the monthly payments since 2010. After four years they change the loan from my father's name to his estate (which closed four years earlier). After runaround after runaround I was advised to get a loan through someone else and get away from Chase.
This year I did just that. Now they sent me the balance of the escrow in the name of my father's estate. They are telling me that they cannot send the check in my name because I never assumed the loan. They are telling me to get my money, I have to go through the process of assuming a loan that no longer exists, so they can put it in my name, then they can cut me the check correctly. Now I am out $3400 of my escrow, plus seven years of tax claims because of their more than very bad customer service. The funny part is back in 2012 Chase held a meeting stating that its goal was to have #1 customer service rating. Here we are in 2018 and their customer service is still ZERO!!!
I have spent hours and hours on the phone with Chase Mortgage. They are reporting a mortgage late for a mortgage that had been paid off one year previous to the mortgage late they are reporting!! They agree there was no late payment yet they will not send a letter confirming this so we can have the credit fixed! I have spoken to dozens of people there and there's an excuse of why they can't write such a letter! This is pure Abuse! Shame on them!
I pay my mortgage with recurring automatic payments from online banking. I have had a Chase mortgage for 10 years and never late or missed a payment. I moved and my notices were late in coming to me and Chase had increased my mortgage payment from $1840 to $1906 - $68 due to an increase in escrow collected beginning January 1, 2018. My payment issued prior to the due date was $1840 as I didn't realize it had increased. Chase applied the ENTIRE $1840 to the mortgage principal - something they should only do if instructed to do so. Then they charged me a late fee.
I paid two payments in February hoping to "catch" up and not understanding what happened to my payment. I finally sorted out the mess with a Chase banker in late March and at that time was over 2 months ahead in my mortgage payments. I was told I was good through July. Well, June was not covered after all and by the time I realized it, I paid for June on July 16, July on July 17 and August on July 26. Because Chase has reported me late on my mortgage, my credit score is below what will give me a decent mortgage rate. They want to interpret the problem of just looking at the fact that my June payment was late - period, not the whole mess of calls, and reversals and all the activity between when they misapplied my mortgage payment to when I paid 3 mortgage payments in one month.
I spent 2 half days on the phone (away from work!) trying to straighten out things in March. They don't care about my trouble, they just want to look at the late payment - not the fact that they caused the issue that snowballed into a big mess by misapplying my mortgage payment. They are supposed to call me in 2 days after the SECOND request for them to look into the issue.
I have sent them a detailed account reconciliation that I painstakingly did - which took me a lot of time as I had to figure out what they were doing in my account and look up my old bank statements to verify the payments I made to them were accurately applied to my account. Oh - and Chase wants to see if they can prequalify me for a new mortgage - but won't remove the late charge (yet - I plan to keep fighting this!). And, not that it is related, but I just dumped $50K with them closing our business account at another bank and reopening at Chase. But it stings.
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Needed 2 forms to be completed by Chase in order to obtain a 3rd party assistance in paying my mortgage and avoid foreclosure. (Mortgage Verification & W9) Chase representatives gave me the runaround instead. They faxed their own form which was already given to me by the Branch 4 days prior. The mortgage department repeatedly tried to have me receive their mortgage assistance even though I informed them that I do not qualify. A representative finally told me that a Research team may have it and there is no way to get in touch with them. As of today, no forms were received.
If you are have unexpected expenses arise Chase Mortgage will not help you. Most Mortgage companies allow you to change your due date or even defer your next payment to help you. This is not an option with Chase. All they care about is getting their money. I would not recommend anyone using them!
I have never experienced so much incompetence. They cannot figure out how to make e-signing available and I have not had access to their portal. 45 days of timesuck where they repeatedly request the same information. I have copied and resent the same information and emails several times; they do not read anything that is sent. There is no communication between the different people assigned to work with the loan. When they call you it is one minute before they close or the weekend and they leave a message for a return call. When I call the call is dropped multiple times requiring multiple attempts to reach anyone. I will never again do business with Chase Mortgage.
This was not my first home loan and it went terrible compared to the others. The entire process was bad. There was the typical scrambling on their part as they requested several times the week before the closing date for additional documents and information that they didn't realize they needed; I expected this and was very fast in getting those documents over to them.
Then the week of my Thursday closing, I hear from the Chase rep on Monday and then not again until Wednesday evening saying they needed more documents and the closing would need to be pushed to Friday. I was given the green light Thursday afternoon for a Friday morning closing and the closing went as expected. I walk out of the attorney's office thinking I just purchased the place. About an hour later, I get a call from the closing attorney saying that Chase would not release the funds.
Every step of the way, from the initial conversation I had with the rep to the final underwriter asking me questions, I told the individual that I have a loan on a rental property and provided several documents throughout the process showing insurance, renters contract and property management companies contract. The reason that the funds weren't released is because the particular type of loan was contingent on me only having one property. The one the loan was for.
I immediately call every number I can find, Managers, Supervisors etc. and I am only communicated back to via email from the rep that made the mistake. The seller had a strict closing date but was willing to work with us a little. She gave us 4 business days to try and get it right. I explained this to the Chase rep who seemed to care very little as the process basically had to start over with a different loan type. As I called the rep, his manager and any other number that I had while trying to get updates, my calls were not returned and instead, I received a vague email with no helpful information. The team did not have any sense of urgency and did not apologize for their mistake, but instead acted as if I had tried to deceive them and it were my fault. The seller has since accepted another offer as Chase set around twiddling their thumbs and I lost my dream place.
I would use any bank other than Chase. We had fraud by DirecTV on our account for 6 mo. that we were unaware of and did not recognize. We never received a single bill from them either, but they got our debit card from ATT Wireless which we have an account with. Due to severe tragic family circumstances, we didn't notice the charges until August. I filed a claim for the two charges in July and August because they were within the 60 day period of filing a claim. They refused to dispute the charges because the first fraudulent charge by them was five months earlier outside of the 60 day period, and judged us for not having noticed them. They would not listen to reason, would not listen to our explanations. The first three were $10 each and blended with our other minor expenditures.
We noticed when it raised to $35 and $40 within the 60 day period, and that was the first month that the circumstances in our life allowed us the time to get back to the bills and the minutia of all the medical bills and statements, financial account statements, etc. We understood the ones outside of the 60 day period, but we absolutely don't approve of the policy they used to not dispute our fraudulent charges. Don't do business with any bank that can't be personable and treat customers on a case by case basis. Don't do business with any bank that doesn't care if you have a fraudulent charge just three weeks prior, and judges you for not telling them sooner. There is no reason on this earth you could give them that they will agree is understandable, and our reasons absolutely were.
Not to mention that they committed fraud themselves with our mortgage five years ago when we were doing the modification. And they got away with it because we couldn't afford an attorney to fight them. We could only afford one that helped get the modification done. Chase kept throwing our application it into a back room and let the 60 day filing periods run out four different times so that we had to keep reapplying, all while they tried to force us into foreclosure and encourage us to stop making payments and go into default so that they really "could" help us finally. We had never missed a payment and had perfect credit so we refused. Obama meant for that process to help families like us who never were in default but had imminent default due to the fraudulent mortgages that were written, especially those without consent who had proof like us!
Chase did not follow Obama's Modification guidelines and lied about the value of our home, which would have resulted in them lowering the principal first, thus lowering our amount owed and our payment. This kept the balance too high and the payment too high. We had evidence of fraud and how they misled us into a bridge-loan mortgage that we didn't agree to stay in after our previous home sold, and they ignored us as we tried several times to refinance it like they promised. They deceived us with our closing documents into believing that the first payment would be paid by autopay because of the timing and that our first payment wasn't due until nine weeks later. Autopay took 4-6 weeks to set up. The signature page was at the top of the next page.
Then they fraudulently switched out that document (our R.E. attorney saw the original too,) and replaced it with a penalty for prepaying before one year agreement that would prevent us from refinancing until after one year! That meant that the bank never received the document applying for autopay. Chase knew we would default on that first payment, and one default on a perfect credit score drops it significantly. We were told that they did this to protect us from refinancing because we wouldn't qualify for the low interest rate we had set up.
They also knew that reverse amortization would accrue since we couldn't afford the payment when interest rates kept increasing. That increased our mortgage by $24,000. We couldn't afford any attorney to actually fight them even though we had proof of everything, and Chase wouldn't listen to us or look at our proof, instead shutting us down and not returning calls, and local banks telling us they couldn't do anything we had to call corporate. Because we were above poverty level, we couldn't get pro-bono representation either. Luckily the market dropped and so did interest rates and we could afford the full 30-yr payment for the next five years, stopping the reverse amortization bleeding.
After the market crashed, our home was only worth about $375,000 compared to all the other fairly comparable nearby homes with its same specifications. That was $125,000 lower than purchase price. They fraudulently used the sale price of homes that were twice the size of ours, and luxurious unlike ours, just because they were also nearby. Our attorney who was helping us get the modification done wouldn't fight them over it because he just wanted to close the case and get it done rather than the expensive process of fighting them. Another notch in his belt/win record. Chase lied earlier in court when they purposefully increased our escrow by over $1500 without telling us trying to push us into foreclosure, and the window to dispute passed before the first statement showing this was received.
Our mortgage payment went from $2100 to $3600 with all their "underages" of the escrow balance they claimed existed but didn't. We paid our Real Estate taxes ourselves and never had an escrow. So, we were double paying taxes! We couldn't afford that, and we did NOT want an escrow with them! The county judge at that time was in the Bank's pockets, focusing on shutting down the ridiculous lawsuits by people trying to get a windfall for a decision of gambling with a dangerous mortgage they knowingly made. We were different, and not asking for a windfall at all, only asking Chase to return our escrow money and close the escrow account!
Our attorney filed for damages saying it would let the bank know we were serious, but we only wanted our escrow money, and we would have been happy. He said he would let them know that once they were seriously there. We had proof with receipts that we already paid the taxes before they did without our knowledge and they didn't disclose that. The judge ignored all our paperwork and the entire courtroom was aghast. You could hear the disbelieving breaths being taken in at her audacity and Chase's deceit. Our attorney for the modification wouldn't fight that either, saying that with the situation by the big banks, he would lose to them and it would cost him business if he had so many losses on his record, and if he got on the wrong side of a judge he would have problems winning other cases. The attorneys that could and would fight them were too expensive for families like ours.
Chase lied, and hurt us. They have shown they are robots and don't care about their customers, and they are greedy beyond measure. Trust me, when it counts they will not care about you; when they make mistakes they will not care about you. It's better to do business with a hometown bank even if they have higher loan interest. In the long run? You'll lose less money, and be treated with dignity.
After having a loan with Chase Mortgage for 6 years with 0 late payments, I went through a divorce. The ex did not pay the very last payment right before settlement when we sold the house. Chase reported it to the credit bureau. This caused about a 150 point drop in my credit from 800 to 650. I asked for a courtesy fix on it because I had been a good customer for 6 years. The answer was they did not do courtesy credit fixes. The guy on the phone said in 17 years working there he had never seen one granted. I think they can do better. Especially seeing the circumstances and pattern of timely payments to them. I went to another lender when I bought my next house specifically because of their ignorance. Better that than reward their lack of customer service.
The Chase loan experience was awful and very stressful. I’ve gotten 6 loans before from other banks (credit unions, local lenders, and national lenders). This was the worst, not to be attempted again. They bait you with incentives (points on my Chase Sapphire card was the lure) and drag you thru at least twice the paperwork and scrutiny of any other bank. The agents are centralized somewhere with no knowledge of the local market. They advertise rates they ultimately can’t fulfill. And they collect fees along the way that get you increasingly vested in the process. It is without question not worth your time. Buying a home will likely involve its own taxes — don’t add to that.
Sold my mortgage to another bank, not a fan, too much of a big bank feeling. Disappointed after being with them for many years. Originally a WAMU customer.
Working on a short sale for my home their customer service rep assigned to me was never available even when I made an appointment. Dragged out for months before I got a lawyer to deal with them.
They explain things clearly and offer to work with you if you have an issue. Easy to look up things concerning your account. Able to manage your account online.
This is just a big company. It's just a numbers game to them. In my case they are just the servicer on the mortgage and have no real control on how the mortgage is handled.
I felt like I was dumped by the lender when my mortgage was "passed on to an unknown lender" although I have never been delinquent in my payments and Chase was not my original lender.
I have not had any issues with Chase in the four years they have had my mortgage. Their customer service is excellent in all regards. They are serious about giving good information and/or instructions whenever appropriate. I have always felt well served.
Nothing to dislike about this business, no regrets, high recommend to all my friends and family and anyone that I know. Hope this helps someone out to make a decision.
I applied for a mortgage with Chase because I bank there. I was pre-approved. They asked for $500.00 as a good faith, I gave it to them. My application went to underwriting and they denied me because My ex-husband let his house foreclose. I gave them the note of that house to prove I wasn't on the loan. They still denied me... I was able to get a loan and approved through another mortgage company. I asked them to deposit my $500.00 back into my account... Today I look and they only deposited $222.00 bank into my account. I feel they ripped me off.
I do believe that they forged my promissory note and tried taking my home in 2013. The servicing department lies and plays games. To them we are all just little people. I have since paid off my mortgage.
Big Bankster mortgage lenders are truly the bloodsuckers of the People. At the very least, their interest rates should be capped at 2%. There should be far less red tape/paperwork, and the terms should be readable, i.e., in common English. Home loans should be available to individuals of ALL income levels.
I applied for a loan modification, only to be given the run-around. I was asked to submit the same paperwork several times because Chase claimed they never received it. Even though it was faxed from Chase bank. In conclusion, I never received a modification for my mortgage.
We tried Quicken Loans, they just ripped us off, no customer service. Chase has worked with us and made refinancing easy and painless. We met our closing agent at a restaurant near our home to complete the transaction.
Violated! That's how you feel after all of the data points and information required by the overzealous underwriters at Chase Mortgage. Good credit? Good job? Documented history of business with Chase? None of that matters. They want to nit-pick every penny you have ever spent. It's sad, because the lending agents seem to feel my pain. I doubt I will see approval from the underwriters (After pre-approval and conditional approval) but I will NEVER use Chase again for a mortgage. If they buy your mortgage after the fact, you are ok though. Hopefully I will get my deposits and earnest money back. If not, then it's off to court.
Sold my mortgage to another company after 16 years of me being with them and they only gave me 30 days to find another company. I did not have time to do my research to get the best deal.
Keep leading you on, more information needed all the time. Working for over 2 years and nothing. Never missed a payment but am behind according to them, no help whatsoever!
My home mortgage keep going up and up, as of Sept. the interest rate 10.25%. And I applied for a Harp 2 or 3 years ago, Chase said I did not qualify and now the interest rate is down. What's the problem. I am on a fixed income, everyone I know have a problem with Chase. I has written the BBB about their concern for customer, none.
I recently had flood damage at my home where Chase held the mortgage. My insurance company issued the initial check to me which Chase endorsed and the funds were used to pay the contractor for some of the work. After living in a motel for some 6 weeks we were getting ready to move back into our home and my insurance company issued another check for the moving expense. When this was taken to my local Chase bank they called the Chase claim department and I was advised that since the total of the two checks exceeded a certain amount, they would not endorse the check until there was an inspection since the two checks exceeded the limit by $100.
I advised the supervisor of the situation and the need to have funds to pay the movers who were coming in three days but she did not care. She insisted that the property be inspected before they would endorse the check but that would take days I did not have. She could not care less. Chase Mortgage did not care that I had never been late with a payment over some 10 plus years and would do nothing to help me. I will never do business again with Chase and would strongly suggest no one else do so. They are a typical big company that does not care about their customers.
I was tempted to go through JP/Chase because I have had good relations with them for over 35 years. I own (paid) 3 homes and was looking to finance a 4th for my children in college. I have ample money to pay for it out of pocket but wanted the children to be responsible and to help me out. Let me tell you right away that Chase mortgage does not care if you have $5,000 and trying to finance or if you have $50,000,000 and trying to finance. They want to see every single thing you own and every dollar you spend. I understand they need tax docs and income statements and property statements. But I am still waiting for an official closing date. Day 55 and counting and I have given them everything I have.
Chase Mortgage Company Information
- Company Name:
- Year Founded:
- 270 Park Ave
- New York
- Postal Code:
- United States
- (800) 432-3117