I lease and sell homes. I have a mortgage with Washington Mutual, which Chase Bank now owns, on a home in Nevada.

When called about a late payment in August of 2009, I told Chase that home was vacant and for sale, that there was a contract to sell the property by lease/option, and that the loan should be current the next month.

They (Chase) contacted Farmers (my insurance co.) and told them the house was vacant on August 21, 2009. Farmers policy is to cancel insurance after 30 days of vacancy.

I sold the home by lease/option on Sept 1, 2009, and occupancy took place on that date. I have retained legal title to that property until the new owners exercise their option to purchase. Weststar is my servicer on that loan, and they began paying Chase on Sept. 3, 2009 from the proceeds of the lease.

That same week, I notified Chase of the sale on Sept 1, 2009. Chase never informed Farmers of the sale and occupancy, therefore Farmers canceled the policy on that home. My annual premium with Farmers was $2, 043/yr.

Chase then had Assurant, Inc. place a policy on that property. Assurant's premium is $7, 683/yr.

My monthly payment increased nearly $1, 100/mo. from $2, 350.34/mo. to $3, 439.37/mo. due to the 'increased impounds' needed to cover the $5, 640/yr. increase in insurance, retroactive back to September of 2009.

I was not informed of the increased payments, or of Assurant's covering this home until today, June 18, 2010, by Jay Balagtas (Chase CS), who told me there was no business arrangement between Chase and Assurant.

FYI, the property taxes went down $718/yr.to $5, 071.88/yr., and the interest rate dropped from 5.29% to 5.06% during the same period.

Loraine at Assuant (800-332-8883) told me Chase and Assurant are contracted affiliated partners, and that she is sending me a copy of the insurance policy and of the agreement between Chase and Assurant. Later that day, I confronted George Serrudo from the Chase customer service (CS) dept. (800-310-3770) about what Loraine told me.

I never received an insurance policy, was never told of the contracted business arrangement between Chase and Assurant, and was never given formal notice of that new policy with Assurant.

I was never given a form releasing my right to individual insurance representation.

Here are excerpts from Assurant's website:
News Room
January 28, 2009
Assurant Specialty Property Uses Chase...
Assurant Specialty Property is a leading provider of specialty insurance and collateral protection programs, including creditor-placed homeowners insurance...
They develop, underwrite, market and administer specialty property and personal lines of insurance through collaborative relationships with leading home mortgage companies...
Assurant Specialty Property serves clients and their customers in all 50 states and the District of Columbia...
Partner with clients who are leaders in their industries and who have built leadership positions in a number of specialty insurance market segments worldwide...www.assurantspecialtyproperty.com

I contacted the Nevada Insurance Division. They state Assurant is not licensed in Nevada to sell insurance at all, let alone covering property located in Nevada, and that they required to give me a copy of the policy at the time any coverage takes affect.

I have over $150k in equity in this home. This is how lenders 'legally' steal peoples property through foreclosure.

Not sure how this is going to be resolved, but I am going to demand a release of the loan and a deed of reconveyance for mortgage fraud, insurance fraud, breach of contract, wire fraud, and mail fraud.

Try this; the first time I applied I was denied because my payments were not late, I reapplied it took a few months cause they kept losing the documents I would send them at their request went on for a few months, they finally put me in trial mod for 6 months-lower payment and the in Dec it was approved we signed everything sent the documents back and in May it was reversed, because my acct was audited by IRS (so they say) it was incomplete on their side, they never let me know until I started getting papers saying if I was having problems making my payment to call. It has taken from Apr to get an answer and now its in review pending again, so I get the calls again while it is, cause its one company-but each dept doesn't know what the other is doing and to find out it may NOT be approved.
I also have a second with them-I was trying to do the same, I sent them the final papers from the 1st and they told me they would start things going on the mod for that--no calls from them I called them over the weeks to make sure all was ok, they said we are working on it and not to mention everytime I called the rep I was dealing I never got a call back after leaving messages--so now its been charged off, I called to get info on what to do to get out of that status they said too late--they said I could make a lump sum payment or make monthly payments but they still could not guarantee anything--even after I make payments. Chase SUCKS--I guess they are above the Obama bill to help!

I reported CHASE BANK on January 18, 2010 for not processing my payment which was made on their faulty broken website on January 12, 2010 to be processed by January 15, 2010. It was still not done by their incredibly inept staff, not even answered by their inept customer service department, and they tried to say I was late? Not!! I called them and had all the ammunition I needed! confirmation numbers and all! It was THEIR mistake NOT MINE! I told them about this site and about my public complaint. You know what they did? They went to EXPERIAN!! They filed a mark on my record saying there was a PAYMENT ISSUE and it was FINALLY RESOLVED BY ME. IT MADE ME LOOK SUSPISCIOUS!! If that izs not retaliation, I don't know what is? That cost me my credit rating with 2 other credit card companies that cut my credit in half with no warning!! MF's CHASE BANK owned by JAMIE DEMON..he is the Demon himself.

I applied to have my mortgage modified per the Obama Bill. I was on time w/my payments for the most part but strugling on a mothly basis. I was asked for a number of documents which I furnished, and checked from time to time the status of it since I did not hear back. A few months after I applied I was informed on one of my f/up calls that more documents were needed. I found out because I called, Chase never did. 1week later I received a letter dated 3/16/10 on 3/24/10 asking me to furnish them w/documents due the same date it was sent 3/16/10(documents that I had already given them but my divorce decree. At my last call I was told that if I was approved for this loan modification that it would have a negative effect on my credit. Now what I don't understand is that president Obama gave these banks funds to help us struggling Americans, so how can Chase get away w/these actions? I had them close my application. I need my credit. I questioned their actions and was rudely told that they did not get any money from president Obama and that they were a secure bank. I do believe they are alright, at the cost of our hard earned money. Unfortunately I am unable to refinance my mortgage. I am trying to restablish my credit because I had to file for bankruptcy. I feel like if my hands are tied.

I wish president Obama turns on them like he has done with the insurance companies. Enough is enough.

In June of 2006 I financed my home with Washington Mutual. That bank was taken over by Chase Bank. Chase took control of my mortgage. I was on an excelerated equity program. I had to change banks due to issues with my acct. I had to cancel the excelerated equity program for a time. I have had it since the beginning of my mortgage. Never late, ever until November of 2009 due to extreme illness.

I tried to remedy the late payment early in Dec. 09. Made a payment over the phone. Thought I was good to go. Days later I discovered the money was still in my acct. I called again and spoke to, what I have discovered is an outsourced CSR from another country who has no authority at all other than to take payments and tell you what you already know. The first one couldn't speak good English and the 2nd one was worse. She told me that the first payment was reversed for insufficient funds. I told her that was impossible and I could prove that I had never been overdrawn or had insufficient funds ever at my bank. She said okay and forwarded me to another CSR that put me through every identifying process, again, except asking for a blood draw. That one assured me no fees would incur due to it being a bank error in processing. She took another payment from me.

Days later I discovered that my payment still had not come out of my acct. I called and called and was hung up on, called again and got so frustrated I waited a day or so and called again to find one foreign CSR with the intelligence to research what happened. She too spoke broken English but was more efficient. The problem there is, she had no authority. She ended up breaking the Patriot Act giving me routing and acct numbers of the two customers who were hit with my payments. One bounced, the other cleared. Of course those two customers filed disputes, closed their accts. which is what I would have done.

Finally this CSR put me on hold and sent me to another, more English literate, CSR, who still had no power to do anything but apologize and get someone higher to help me. That supervisor, only after I said I didn't want to end up owing 3 payments at once due to bank error, had me make one payment to keep me from going into default. She told me to wait it out on another payment until this situation played itself out. I was told I would be notified, which didn't happen. I started to get worried so I wired another payment. I called Chase once again for probably the 20th time and the gentleman gave me the wrong city code, so I used the only one that Money Gram has for Chase Mortgage on their records. To date that payment isn't showing.

I called Chase 3 or 4 times again today and only get outsourced foreign CSRs and the last one had an attitude. Tried to blame me when the bank has already admitted their own error. I was told by one of the 20 I have spoken to that due to an escrow issue my payment is going up to over 80.00 more per month. To top that off, one American CSR had the nerve to tell me to wait and see because if the payment that cleared came from someone rich that they might not miss the money and I might not have to pay that payment. That is insane. No stays rich not keeping a close watch on their money. I told him that would devastate me if someone elses house payment came out of my account.

I still owe for this month because I was told to wait and I can't afford two payments at once. I would have had this remedied back in December if their people had keyed my acct number in correctly. I will another phone payment due to that happening twice in 5 days. I wired this payment and still it isn't showing. Someone help me. Too, I was promised no late fees would incur and that is a total lie. The thing is, I was given bad advice by a bank representative and those fees add up. I have not been notified of a correction and that is why I took it on myself to make another payment. They have already sent out a field inspector and this woman is more angry than ever. This bank is horrible. You can't get to anyone high enough to make a difference. You can't call and get results because you have outsourced people who are only there to say they are sorry and to collect a debt. This bank needs to revamp and have American based CSRs with some brains and authority to repair bank errors. I didn't finance with this bank. I financed with WAMU and though they messed up and had to sell out to Chase, they, at least had CSRs based in this country who could help you and would remedy their own errors.

I have never dealt with more unprofessional people in my life. I really need help here if anyone has information on how to get this fixed other than them taking extra money on top of my normal payments. Thank you.

Cordially,
Carol A Horton 928-386-1971