Jeff's Blog

Deceptive Mortgage Servicing Company Wreaks Havoc in this Family's Life

Pennsylvania homeowners were hit with tough news.  Margaret had to worry about removing a benign brain tumor while her husband, John was laid off.  A true tragedy.  Unfortunately, not the only ones they had to worry about.

These homeowners tried to refinance their home through their mortgage company, CHASE.  Chase offered them a modification loan.  So they thought.  For the first couple of months when they tried to contact regarding some help, Chase wouldn't even speak to them about any options on their loan payment because the couple was not 3 months behind on their mortgage yet.  AND UNTIL THEY REACHED THE FORECLOSURE LEVEL THERE WAS NOTHING CHASE COULD DO!!!  O.M.G.(as the teenagers would say).  This in itself is completely incomprehensible. This couple was trying to get help before they got too far gone!  Isn't this what you are supposed to do??

However, the couple was finally placed on a modification program.  Within the program they were to make 3 trial period payments and then their loan was to be lowered with an even lower interest rate.  The couple continued to make their "trial period" payments, and never received this modification.  However, they did continue to receive foreclosure paperwork.

The couple continued to try and work things out with Chase. Each representative told them a different story. Each representative didn't know what the last one did or said.  Each mortgage statement never showed where the couple's "trial period" payment of $1459.79 was credited to, where it was credited or even if they received it!

This couple did everything the mortgage company told them to do, and even did some of the things twice.  And got NOWHERE.  At this point in their story, or in any other consumer's story or situation similar, where do you turn?  What do you do to save your home?

These continued and growing complaints from homeowners and credit cardholders continue to back-up the need for stronger financial regulations and oversight. As many of you know, the Obama Administration in June released its comprehensive plan for regulatory reform. Included in the President's plan, was the creation of the Consumer Financial Protection Agency (CFPA), a stand-alone consumer protection regulator.

Hundreds of their lobbyists are flooding Capitol Hill and are logging thousands of calls into Congressional offices. If you agree that we need reform within the financial industry, call or e-mail your elected officials today.

Also, be sure to contact an attorney in your area right away.  This is a time sensitive matter!!!  There may be laws that the mortgage company is breaking.  You will never know unless you act quickly.  A roof over your head, isn't this one of the most important necessities.  Contact Jeff if you are in the Pennsylvania area.  If you are outside of our area, find an attorney in YOUR area specializing in this area of law.  Protect yourselves!
 

Jeff Suher, Pittsburgh Consumer Attorney who specializes in the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. 

Jeff sues abusive debt collectors and helps consumers that have incorrect information on their credit reports.