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Started By
Message
Need advise for dispute with Chase Mortgage
Posted on 11/23/09 at 9:19 pm
Posted on 11/23/09 at 9:19 pm
I started a refinancing process thru Chase under the "Obama" loan. Main and most important selling point was that I would not have to pay PMI on the new mortgage because I do not currently pay it. After process stated facts changed and they added the PMI, my loan is still over 80% of value. The initial agent for Chase emailed me saying that he would refund my deposit,$750. Now hes saying that I'm Sh*t out of luck because the deposit was non-refundable. I was not going to do the loan until he made the no PMI statement, which he said he was positive about. This whole conversation is on file over there somewhere. Do I have a legitimate reason for requesting my refund?
5
Posted on 11/23/09 at 9:57 pm to irishcpl
the deposit on the property? are you talking about earnest money? I've only had one home loan, but I've never heard of a deposit for a mortgage.
Posted on 11/23/09 at 10:02 pm to TortiousTiger
It was a deposit for the refinance. My stance is that I was not going to do it until he provided my in incorrect info.
Posted on 11/23/09 at 10:17 pm to irishcpl
$750 is extremely tiny chump change to Chase, I have a hard time believing anyone is deliberately screwing you here. And it is very normal for the initial deposit to be nonrefundable, in fact that's the point of the deposit so it's unlikely you would win anything.
More than likely the Chase guy made an honest mistake and legally speaking you pay the price for it since his emails probably do not constitute a legally binding agreement, he just screwed up is all.
My advice would be to go to the agent's boss and explain the situation. Like I said, $750 is chump change to them and they will more than likely just refund it and move on if you can be even semi-persuasive.
More than likely the Chase guy made an honest mistake and legally speaking you pay the price for it since his emails probably do not constitute a legally binding agreement, he just screwed up is all.
My advice would be to go to the agent's boss and explain the situation. Like I said, $750 is chump change to them and they will more than likely just refund it and move on if you can be even semi-persuasive.
Posted on 11/23/09 at 10:52 pm to irishcpl
Send him a letter stating that the information presented to you regarding the non-payment of PMI caused you to enter into the agreement.
In Louisiana an obligation with a false or unlawful cause can have no effect.
Tell him to either refund your deposit within 10 days or you will be retaining an attorney regarding the matter.
In Louisiana an obligation with a false or unlawful cause can have no effect.
Tell him to either refund your deposit within 10 days or you will be retaining an attorney regarding the matter.
This post was edited on 11/23/09 at 10:53 pm
Posted on 12/1/09 at 3:43 pm to TortiousTiger
There is a new law that states that lenders DO NOT have to refund your application fee if they have the loan approved. So be very sure you have the right lender before you pay an application fee.
Chase is horrible to deal with so I would be shocked if they gave you the $750 back & no lawyer will take a case for $750 its not worth their time.
Chase is horrible to deal with so I would be shocked if they gave you the $750 back & no lawyer will take a case for $750 its not worth their time.
Posted on 12/1/09 at 4:22 pm to Thomas98
Um, why is he paying a fee upfront for a refi?
Posted on 12/1/09 at 4:26 pm to prplhze2000
because purple he delt with chase.
Posted on 12/1/09 at 8:01 pm to displacedhorn
I know that, just surprised Chase was charging him an app fee on a refi. One of the advantages to refis is supposed to be no closing costs out of pocket.
Posted on 12/1/09 at 9:09 pm to Thomas98
quote:
Chase is horrible to deal with
they have screwed up my escrow 3 of the last 4 years and have no idea what they are doing
Posted on 12/2/09 at 12:36 am to TigerintheNO
is chase still buying up every mortgage in LA?
as far as:
you likely won't need a lawyer. Irish, you got an update for us?
as far as:
quote:
Chase is horrible to deal with so I would be shocked if they gave you the $750 back & no lawyer will take a case for $750 its not worth their time.
you likely won't need a lawyer. Irish, you got an update for us?
Posted on 12/2/09 at 2:29 pm to TigerintheNO
I've been fighting them over flood insurance for three months. I don't ever want another mortgage with Chase.
Posted on 12/2/09 at 5:23 pm to irishcpl
tsk. all that talk and little in writing.
Chase is Rockefeller;s bank, the one which intentionally destroyed The Bronx, rather than have Democrats with a power base. Remember that, next time. Not all lenders are the same.
I would report this to the insurance commissioner.
Chase is Rockefeller;s bank, the one which intentionally destroyed The Bronx, rather than have Democrats with a power base. Remember that, next time. Not all lenders are the same.
I would report this to the insurance commissioner.
Posted on 12/4/09 at 12:26 am to ottothewise
Update:
Emailed original loan processer with a request for the transcript that he mentioned and also included in email his email stating that if I wanted my money back all I have to do was request it. He reply was that he would get my refund back for me.
I will keep yall posted on the process. The biggest thing that helped me was having that email from him and him bringing up the transcript of our phone call.
Emailed original loan processer with a request for the transcript that he mentioned and also included in email his email stating that if I wanted my money back all I have to do was request it. He reply was that he would get my refund back for me.
I will keep yall posted on the process. The biggest thing that helped me was having that email from him and him bringing up the transcript of our phone call.
Posted on 12/12/09 at 4:38 pm to YellowMonkey
Deposit refunded on 12-2-09!!!!!! 
Posted on 12/12/09 at 4:46 pm to YellowMonkey
Accidental alter post?
Posted on 12/12/09 at 11:30 pm to CommanderHeavy
quote:
Accidental alter post?
So it would seem. But
anyway.
Posted on 12/13/09 at 2:18 pm to irishcpl
yellowmonkey?
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