Chase Home Finance, LLC
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Category: Business & Finances
Contact Information
Hampstead, North Carolina, United States
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Chase Home Finance, LLC Reviews
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imgail
December 16, 2010
Flood insurance requirement
Chase Home Finance, LLC recently required flood insurance on my house, even though it is not in a flood plain. I sent them documentation from FEMA and my local flood plain expert in my municipality indicating that my house is not in a flood plain. At the same time I received a quote from my insurance company which was 1/4 what Chase wanted me to pay. Chase did not respond to my documentation, in fact said they never received it, even though I have a signed receipt that they DID receive it. Long story short, Chase purchased the expensive flood insurance "on my behalf" and took payments for it from my escrow. Then, less than a year later, Chase sent me a letter stating that due to a "policy change" I no longer needed flood insurance. Of course there was no apology nor did they return the money they took from my escrow.
I am not the first to experience this questionable practice from Chase, in fact there are two actions in progress against Chase, one in California and one in New York. You can read the details at the following address:
http://www.nka.com/Cases/ChaseHomeFinance.aspx?CaseRef=153#certified
On their website they state: "As part of our investigatory efforts, we are interested in speaking with other Chase customers who have concerns about Chase’s flood insurance requirements. If you believe that you were required to purchase or maintain unnecessary or excessive flood insurance by Chase, we would be interested in hearing from you. You may contact us toll free at 1-877-448-0492, write to us at Nichols Kaster, PLLP, 4600 IDS Center, 80 South Eighth Street, Minneapolis, MN 55402, or email our clerk, Jon Sandquist, at [email protected]. You may also check this site for periodic updates." Dec 15 '10
10:04 pm PST |
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ChaseSucksBigTime
May 27, 2010
Dailing for Dollars
We bought a second home to remodel, financed by Chase on 80/20 1st and 2nd Mortgages, and be our primary home. We were screwed by the contractor and are currently going through court to collect. The contractor left it uninhabitable, we ran out of money and unable to pay mortgages, we immediately moved into "short sale" mode with real estate agents at the same time we stopped paying. This was at the end of 2007 as the recession was gaining steam and real estate was taking a beating and moving down every day.
We bought at $562K, the first offer on a short sale was $530K, Chase said no, the next offer was $490, Chase said no, another offer was $475K, (together now) Chase said no. Every day, every week, real estate prices were dropping. Chase's stand was that "we could get more on the market" then what we were getting offers for. We tried for 6 months, our agents finding buyers, and Chase saying no. Keep in mind that ALL of the OFFERS knew that they needed to fix the house in order to live there. The second quit working with us on Jan 2008, they charged it off, and sold the deed to a Chase Flex Fund, house foreclosed in June 2008. Forward to Nov 2008, Chase for the 2nd mortgage, sent a offer letter of "pay us a third of the loan, and we will forgive the balance", we said NO! June 2009, a collection company sends a letter to pay up, we said validate the debt, never heard from them again. April 2010, another collection company sends a letter, again we said validate the debt, they send copies of the loan documents. The loan docs specify a "Deed of Trust" as "collateral" for the property. Our position follows the California Civil Code of Procedure 580, that says (paraphrase) "if the house is sold in a non-judicial foreclosure (not forced by court) you get what you get and can no longer attempt to collect for any deficiency"
We, again, said that we owe nothing and do not acknowledge the debt.
Ball is back in their court.
We took out a HELOC on our first home to pay for the construction and multiple mortgage payments, now the house is worth less than what we owe. Push comes to shove, they need to sue us if they think they have a case, and we will counter sue for harassment under false pretenses.
Best case, we get money from them, worst case, we file BK after judgment.
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JennB
April 24, 2009
Mortgage Fraud/Scam
I have spoken with a lawyer friend and done some preliminary research on the internet regarding my situation with Chase Home Finance, LLC and I believe I am victim to Fraud. After reading all of these complaints, I can see I am not the only one. I am going to contact class action lawyers until I find one who will take this case and take them to court.
My situation is as follows:
Our mortgage was sold to Chase Home Finance LLC approximately 3 years ago. Recently we received statements where our payments had been increased without warning or any sort of written explanation. After spending about 5-6 hours total on the phone with them it turns out they have been draining our Escrow for some flood insurance they claim FEMA told them we need. I spoke with FEMA and that's not true. Then, when they'd drained the escrow, they increase our payments to make up for it. We tried to get explanations from them to no avail and didn't pay the extra money. Now they're demanding their money and threatening to Foreclose if we don't pay. They have also put past due marks on our credit report. We are not wealthy, but we have some money to hold them off. This, as I'm learning is a common scam. We will go through all the appropriate legal steps to attempt to communicate our position with them but in the mean time we are going to take legal action. We are also going to refinance as soon as possible.
Be advised this is a scam. Get legal assistance and do not let them take your home! Refinance if you can as soon as possible before they ruin your credit.
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