9 thoughts on “Did Your Mortgage Increase?

  1. Christina Mellott

    Try this; let them know who you are, how many subscribers you have, and point them to this post.

    Then, inform them if they haven’t corrected the issue and credited your account for the overpayments within 30 days you will send all this information to
    1. a lawyer in order to start a suit (maybe even a class-action suit)
    2. the fair credit reporting authority in order to get them fined and put them under a gov’t microscope
    3. ABC, NBC, CBS, FOX, etc…

    This might sound like overkill, but you are in the right and I’ve found that promises like these help banks to move a lot quicker to fix their mistakes.

  2. Kathy

    I think this story should be put out there for the media and politicians to see. It’s time someone at the TOP hold these lenders accountable for their actions. Wish we could all get bailed out of this mess by the government like the banks are. Most of the banks won’t even let the people they gave these mortgages to refinance because they don’t meet the new qualifications. The SAME folks they sold the bad mortgages to in the first place. Many within the past 18 months. SOMEONE needs to speak up for the PEOPLE in this country.

  3. Cluie


    I also have had trouble with Chase. Don’t have room here to get into it but my complaint has gone on for a couple of years. I am getting an attorney to sue them. I am probably going to spend more on fees than I would be saving if Chase would resolve my complaint. Maybe not if we win …. but I just want to kick their arrogant, uncaring, greedy butt!… in court that is! I have also reported them to the FTC concerning the fair credit laws. I would also jump up and down if Chase went under from the banking and credit downturns. America is better off without that bank. Don’t do business with them! Let’s fight them Heidi. Hoping for all the best in business to you and all your clients reading this.

  4. Marie Smith

    My blood is boiling as I read this because I’m experiencing something similar but not quite the same. I’m dealing with a credit union that has been unable to correctly credit my mortgage account for the past seven months! Each time I confirm that they receive the payments but they can’t find where they credited it (except it’s NOT to my account!). They’ve sent me a Letter of Intention with a months notice before they file for Foreclosure. In the meantime I had my bank send them confirming information and I’ve written them but received no response to tell me that they’ve found the payment. So I filed with the local BBB for starters and I’m about to file filing with the NCUA and some Consumer Help Advocates at the local TV Stations. In the meantime they’ve filed late notices with the credit bureaus and charged my account for late fees. It’s frustrating because it can happen again next month! Like you said it is time-consuming but we cannot let these institutions get away with these types of behavior. We really need to hold them accountable and try to get these experiences out in public so others can become more aware and learn what’s (negatively) possible

  5. david

    I am going through similar issues with chase mortgage as they changed my escrow analysis from a 3 yrs repayment to a 12 month repayment which jumped my payment by $300 without notice..

  6. Kathy

    I thought I’d share a recent conversation I had with Counrtywide. This is regarding a mortgage on a house that I wanted to sell in January 2008 but Counrtywide REFUSED to give any leeway on the pre-payment penalty period which ended in March 2008 The end of April, three forclosures hit the market within a few blocks of this house. Now come April, the MARKET VALUE is almost 50% less than what I could have sold for! At the same time, my ARM mortgage payment had just increased again. With all the publicity about how the mortgage companies are supposed to be working with homeowners, I decided to see what I could do to RESPONSIBLY deal with this situation: Here’s the ensuing conversation with Countrywide:
    a. Called Countrywide and asked about the loan options. Transferred to Refinaning unit.
    b. Inquired about loan modification.
    c. Said I can refinance but loan modification doesn’t apply to this mortgage.
    d. Asked what they are doing for responsible homeowners who are trying to modify bad loan structure so we aren’t forced to jump on the foreclosure bandwagon
    e. Laura- Customer Service- Told her I didn’t want to refinance as there was no reason for me to pay the bank another few thousand dollars given the current real estate market. She said loan modification is only a last resort if I didn’t qualify for refinance or if refinance doesn’t “meet my needs”. I told her that there is no reason for me to have to pay for the current situation w/foreclosures. So refinancing definitely didn’t meet my needs. She said that’s not what she meant. She meant a hardship.
    f. She transferred me to Julie-Workout Dept. Asked her what programs are available for responsible homeowners. Explained that they wouldn’t allow me out of the pre-pay situation at the end of January ; which expired in March of 2008, when I could have sold the house.
    She said Oh-for the type of mortgage you have there are No options; no programs!

    At that point I said I wanted to make sure I had it correct because I was going to the media about the fact that people trying to maintain good credit are not being helped by companies who have received millions of government bailout money and whose CEO’s are making millions of dollars in salary and bonuses. She again said the only thing they could do was refinance. I reminded her that the issue she and Countrywide do not want to address, is help for responsible homeowners attempting not to become delinquent.

    Asked her if the answer is for those of us who can’t get out or get help should jump on the foreclosure bandwagon and stop paying our mortgages so we can get somewhere with the “workout department” She said that wouldn’t help because this mortgage was unique and it wasn’t a candidate for short sale because the investor wouldn’t want that!

    She said there are No options on a pay option ARM. Only refinance. Or you can add on to your payments IF the investor is willing to let you catch up that way!

    g. Again told her I would be using this for a public media example of how responsible homeowners are not being offered reasonable solutions. They are doing nothing to help stop the downturn of the market in this country.


  7. Vanessa

    I’m having a similar problem with Chase. I’m glad I’m not alone in this! My husband & I bought a house in October 2007. By January or February 2008, Chase bought the loan from our original mortgage company. We have always paid our mortgage on time, including the PMI payments. The original mortgage company did not pay the PMI to the insurance company. When Chase bought the loan, Chase made payments to the insurance company, to include the amount the original company failed to pay. Now Chase is requiring us to pay for those additional months. We already paid PMI for those months! They did not send us a letter in the mail to explain – they just increased our monthly mortgage payment by $15 for 12 months. I know that’s not a lot of money, but it’s still money that we do not owe because we already paid it. I just can’t help but wonder how many other people experience the same issue, and don’t even know it! We are trying to work with Chase to get this resolved, but I have serious doubts. With the scrutiny the banks are under, you would think they’d be more anxious to help customers resolve their issues – especially when it shouldn’t be the customer’s problem in the first place!


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