This is in regard to a refinance I thought I was doing for my home with JP Chase Mortgage. My current mortgage has been with Chase for over 10 years. I have NEVER been late on a single mortgage payment. I have an extremely high FICO credit score of 794. The refinance I was attempting to do was for $71,500. The value of the house based on their numbers was $208,000... Hence a 30% loan-to-value refinance (a no-brainer for a competent lender). Our combined income is around $85,000. I paid Chase a $395 application fee for what they stated would be a "low doc loan". They stated that this would be an easy process since I had so much equity, a high FICO score, and almost no other debt (ie no car loans or revolving debt, just two pieces of rental property that I also have tons of equity in). Application was made on September 5. Today is January 24... Almost five months later, and the refinance is STILL NOT DONE. This supposed "low doc" refinance is nothing short of fraud!!! I have provided every thing that Chase has requested (many times in duplicate because of their incompetence to keep track of their own paper work). The Chase representatives I have been working were Betsy Moore and Brian Martinson. They NEVER take telephone calls, and for the most part do not answer emails.in addition to the $395 application fee I was charged, they cost me another $500 per year by having me increase insurance coverages on the subject property to values that are absurd. I have spent HOURS satisfying their every request, but I still have no refinance. I wish I had searched the internet regarding customer satisfaction as it relates to JP Chase Mortgage. If so, I would have found that hundreds and thousands of customers and potential customers have received the same extremely POOR service that I have received. As I have stated earlier I have a stellar credit score and 70% equity in my home. My credit file is absolute text book!!! I will be leaving Chase Mortgage soon, and will be canceling the two Chase credit cards I have with these scammers. I would advise everyone that might be considering a mortgage or refinance with Chase to learn from my experience, and do some searching on the internet about Chase Mortgage customer satisfaction... There appears to be NONE! The folks at Chase are completely incompetent. This should have been the easiest refinance ever... But instead, they just took our $400 and we got NOTHING but a 5 month headache! Thank You, Steve in Tennessee.
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