“Chase” Refinance Scam

[(former)FormerSanDiegan]

kcal09 –

Google “Home Loan Sheldon”
Go to his web site and give him a call.

[quote=kcal09][quote=HLS]KCAL,
It sounds like they are wasting your time.
Rates are actually a little lower today than mid Sept. Rates have not “been going up steadily”.
There is no advantage to them to stall.
You are correct that they have done this to many other customers. Amazing to me that people stick with them.

If a refi cannot be funded within 30 days, something is wrong. 90 day locks are usually at a premium cost, even if they don’t tell you that.
People remain foolish about their mortgage choices.

With the majority of loans, just because a bank services your current loan it doesn’t mean that they own it and you aren’t going to get any special service or favors just because you currently make your payments to them.
It doesn’t matter if you and 50 of your relatives have been banking with that bank for the last 200 years and have $500,000 deposited there. That doesn’t qualify you for a loan today.

A new loan is a new loan, sold off into a new pool of mortgage backed securities. The old loan is being paid off. They aren’t making an adjustment to an old loan. FNMA doesn’t care if you get a refi from the existing servicer.

Guidelines are stricter than they were last year, even if your property value went up. For qualified borrowers, conforming loans at 5.00% are available at almost no cost today, it changes a bit everyday.
Lower rates have a cost.

You didn’t mention your type of loan, loan amount, credit score or property value. Perhaps you don’t qualify for a refi today.
If you don’t qualify, it’s not fraud and the rate is meaningless. You made a bad choice. The appraiser doesn’t care if your loan goes through or not. They want to be paid for their work.

An appraisal done last Sept should no longer be valid. Have they told you that you have to pay for another one to compound your aggravation and get you funded ?

To add insult to injury, every month that you remain in a 6.375% loan you are wasting more money, most likely hundreds of dollars a month depending on your loan balance.

Sadly, many people make the same mistake that you did. An internet lender that gives the impression that they only charge $2000 as a broker fee overcharges on their rates and isn’t as cheap as they appear to be.Misleading but not fraud.
Lots of people with excellent credit don’t qualify for loans today.

If you would like to know the right rate and what you qualify for today, please contact me privately… HLS[/quote]

Thank you, are you a mortgage broker?[/quote]

[all]

[quote=edna_mode]I had to report Chase to their national regulator due to the runaround they gave me to close a dormant account. I finally wrote to Jamie Dimon (CEO) directly to put a stop to it.

In a separate issue, they managed to drop a digit off my mailing address and NOT INFORM me that there was a balance outstanding for a few months (despite having email and phone for me which were correct). The rep even mentioned that the letters had bounced to them to that nonexistent address. I had to go to the executive office to waive all the fees.

Finally, have you seen their horrible website? I changed cc numbers over time (moved from airline to cash rewards; they sometimes send out a new #), and they NEVER DELETE the old cc#s. So it looks like you have 8 accounts when you might have 3 cards. You can only get 90 days of historical transactions.

While the individual people seem to be trying their best, the institutional dysfunction overwhelms their efforts.[/quote]

This comes close to what I experienced with Chase.
I canceled my CC with them (or I thought I did) in late 2007. In March 2009 they charged me an annual ‘dormant account’ fee, followed by May and June late fees. I received no letter or email – they changed my preference to paperless bill and SpamAssassin blocked the emails, presumably.

They reported me to credit agencies and reduced my rating by ~60 points. I learned about the whole thing when I applied for a loan and saw my credit score down to ~740 from >800.
Then Citi canceled my wife’s 5% cash-back Shell card due to delinquency on a linked (Chase) account, since she had me added to her account.

The rating agencies were quick to react when I complained. I was pleasantly surprised by that.

The whole thing reinforced my opinion of technology-enhanced business process – if you are covered by the basic use case you solve your do your thing with few clicks (get money from ATM, transfer money between banks and accounts, register your vehicle, change address…) and your life is much easier.
But if you are on one of the alternative paths you are SOL.

[all]

[quote=edna_mode]I had to report Chase to their national regulator due to the runaround they gave me to close a dormant account. I finally wrote to Jamie Dimon (CEO) directly to put a stop to it.

In a separate issue, they managed to drop a digit off my mailing address and NOT INFORM me that there was a balance outstanding for a few months (despite having email and phone for me which were correct). The rep even mentioned that the letters had bounced to them to that nonexistent address. I had to go to the executive office to waive all the fees.

Finally, have you seen their horrible website? I changed cc numbers over time (moved from airline to cash rewards; they sometimes send out a new #), and they NEVER DELETE the old cc#s. So it looks like you have 8 accounts when you might have 3 cards. You can only get 90 days of historical transactions.

While the individual people seem to be trying their best, the institutional dysfunction overwhelms their efforts.[/quote]

This comes close to what I experienced with Chase.
I canceled my CC with them (or I thought I did) in late 2007. In March 2009 they charged me an annual ‘dormant account’ fee, followed by May and June late fees. I received no letter or email – they changed my preference to paperless bill and SpamAssassin blocked the emails, presumably.

They reported me to credit agencies and reduced my rating by ~60 points. I learned about the whole thing when I applied for a loan and saw my credit score down to ~740 from >800.
Then Citi canceled my wife’s 5% cash-back Shell card due to delinquency on a linked (Chase) account, since she had me added to her account.

The rating agencies were quick to react when I complained. I was pleasantly surprised by that.

The whole thing reinforced my opinion of technology-enhanced business process – if you are covered by the basic use case you solve your do your thing with few clicks (get money from ATM, transfer money between banks and accounts, register your vehicle, change address…) and your life is much easier.
But if you are on one of the alternative paths you are SOL.

[all]

[quote=edna_mode]I had to report Chase to their national regulator due to the runaround they gave me to close a dormant account. I finally wrote to Jamie Dimon (CEO) directly to put a stop to it.

In a separate issue, they managed to drop a digit off my mailing address and NOT INFORM me that there was a balance outstanding for a few months (despite having email and phone for me which were correct). The rep even mentioned that the letters had bounced to them to that nonexistent address. I had to go to the executive office to waive all the fees.

Finally, have you seen their horrible website? I changed cc numbers over time (moved from airline to cash rewards; they sometimes send out a new #), and they NEVER DELETE the old cc#s. So it looks like you have 8 accounts when you might have 3 cards. You can only get 90 days of historical transactions.

While the individual people seem to be trying their best, the institutional dysfunction overwhelms their efforts.[/quote]

This comes close to what I experienced with Chase.
I canceled my CC with them (or I thought I did) in late 2007. In March 2009 they charged me an annual ‘dormant account’ fee, followed by May and June late fees. I received no letter or email – they changed my preference to paperless bill and SpamAssassin blocked the emails, presumably.

They reported me to credit agencies and reduced my rating by ~60 points. I learned about the whole thing when I applied for a loan and saw my credit score down to ~740 from >800.
Then Citi canceled my wife’s 5% cash-back Shell card due to delinquency on a linked (Chase) account, since she had me added to her account.

The rating agencies were quick to react when I complained. I was pleasantly surprised by that.

The whole thing reinforced my opinion of technology-enhanced business process – if you are covered by the basic use case you solve your do your thing with few clicks (get money from ATM, transfer money between banks and accounts, register your vehicle, change address…) and your life is much easier.
But if you are on one of the alternative paths you are SOL.

[all]

[quote=edna_mode]I had to report Chase to their national regulator due to the runaround they gave me to close a dormant account. I finally wrote to Jamie Dimon (CEO) directly to put a stop to it.

In a separate issue, they managed to drop a digit off my mailing address and NOT INFORM me that there was a balance outstanding for a few months (despite having email and phone for me which were correct). The rep even mentioned that the letters had bounced to them to that nonexistent address. I had to go to the executive office to waive all the fees.

Finally, have you seen their horrible website? I changed cc numbers over time (moved from airline to cash rewards; they sometimes send out a new #), and they NEVER DELETE the old cc#s. So it looks like you have 8 accounts when you might have 3 cards. You can only get 90 days of historical transactions.

While the individual people seem to be trying their best, the institutional dysfunction overwhelms their efforts.[/quote]

This comes close to what I experienced with Chase.
I canceled my CC with them (or I thought I did) in late 2007. In March 2009 they charged me an annual ‘dormant account’ fee, followed by May and June late fees. I received no letter or email – they changed my preference to paperless bill and SpamAssassin blocked the emails, presumably.

They reported me to credit agencies and reduced my rating by ~60 points. I learned about the whole thing when I applied for a loan and saw my credit score down to ~740 from >800.
Then Citi canceled my wife’s 5% cash-back Shell card due to delinquency on a linked (Chase) account, since she had me added to her account.

The rating agencies were quick to react when I complained. I was pleasantly surprised by that.

The whole thing reinforced my opinion of technology-enhanced business process – if you are covered by the basic use case you solve your do your thing with few clicks (get money from ATM, transfer money between banks and accounts, register your vehicle, change address…) and your life is much easier.
But if you are on one of the alternative paths you are SOL.

[all]

[quote=edna_mode]I had to report Chase to their national regulator due to the runaround they gave me to close a dormant account. I finally wrote to Jamie Dimon (CEO) directly to put a stop to it.

In a separate issue, they managed to drop a digit off my mailing address and NOT INFORM me that there was a balance outstanding for a few months (despite having email and phone for me which were correct). The rep even mentioned that the letters had bounced to them to that nonexistent address. I had to go to the executive office to waive all the fees.

Finally, have you seen their horrible website? I changed cc numbers over time (moved from airline to cash rewards; they sometimes send out a new #), and they NEVER DELETE the old cc#s. So it looks like you have 8 accounts when you might have 3 cards. You can only get 90 days of historical transactions.

While the individual people seem to be trying their best, the institutional dysfunction overwhelms their efforts.[/quote]

This comes close to what I experienced with Chase.
I canceled my CC with them (or I thought I did) in late 2007. In March 2009 they charged me an annual ‘dormant account’ fee, followed by May and June late fees. I received no letter or email – they changed my preference to paperless bill and SpamAssassin blocked the emails, presumably.

They reported me to credit agencies and reduced my rating by ~60 points. I learned about the whole thing when I applied for a loan and saw my credit score down to ~740 from >800.
Then Citi canceled my wife’s 5% cash-back Shell card due to delinquency on a linked (Chase) account, since she had me added to her account.

The rating agencies were quick to react when I complained. I was pleasantly surprised by that.

The whole thing reinforced my opinion of technology-enhanced business process – if you are covered by the basic use case you solve your do your thing with few clicks (get money from ATM, transfer money between banks and accounts, register your vehicle, change address…) and your life is much easier.
But if you are on one of the alternative paths you are SOL.

[HLS]

The OP contacted me and is expecting to sign Chase docs soon, 7+ months since they applied.

In addition to the aggravation, they have overpaid $3000+ in interest at their higher rate over the past 6 months.
No loan is done until it is funded. I hope that they post an update….HLS

[HLS]

The OP contacted me and is expecting to sign Chase docs soon, 7+ months since they applied.

In addition to the aggravation, they have overpaid $3000+ in interest at their higher rate over the past 6 months.
No loan is done until it is funded. I hope that they post an update….HLS

[HLS]

The OP contacted me and is expecting to sign Chase docs soon, 7+ months since they applied.

In addition to the aggravation, they have overpaid $3000+ in interest at their higher rate over the past 6 months.
No loan is done until it is funded. I hope that they post an update….HLS

[HLS]

The OP contacted me and is expecting to sign Chase docs soon, 7+ months since they applied.

In addition to the aggravation, they have overpaid $3000+ in interest at their higher rate over the past 6 months.
No loan is done until it is funded. I hope that they post an update….HLS

[HLS]

The OP contacted me and is expecting to sign Chase docs soon, 7+ months since they applied.

In addition to the aggravation, they have overpaid $3000+ in interest at their higher rate over the past 6 months.
No loan is done until it is funded. I hope that they post an update….HLS

[kcal09]

Yes, we are scheduled to sign the loan docs tomorrow. Still, I’m very upset that it took so long as HLS pointed out. Stay away from Chase!!

[kcal09]

Yes, we are scheduled to sign the loan docs tomorrow. Still, I’m very upset that it took so long as HLS pointed out. Stay away from Chase!!

[kcal09]

Yes, we are scheduled to sign the loan docs tomorrow. Still, I’m very upset that it took so long as HLS pointed out. Stay away from Chase!!

[kcal09]

Yes, we are scheduled to sign the loan docs tomorrow. Still, I’m very upset that it took so long as HLS pointed out. Stay away from Chase!!

[Author]

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