Posted on: 17th Aug, 2009 11:42 pm
my wife and i have been in the process of a refi since 12/08 with chase which happens to be the worst bank in america beside bofa we have excellent credit. ( 794-801) we are making payments on time. do we have any legal recourse at this point. we have already spent 750.00 on an app fee also we spent another 250.00 on a loan subordination from our second mortgage. by the way chase holds our present loan. they have been very un professional through this process.
frustrated homeowner
frustrated homeowner
hi pmg,
did you speak to the lender as to why they are not refinancing your loan? you have a great credit score and i appreciate that you've taken steps in order to maintain your credit score. i hope you have equity in the property. if you don't have equity in the property, the lenders will not refinance your loan.
if you have equity in the property, then you can contact other lenders and apply for a refinance. it's not necessary that you'll have to refinance the loan from your current lender. you can even speak to the lenders of this community and seek a no obligation free mortgage quote which would help you in knowing the type of rates and terms you would get.
thanks
did you speak to the lender as to why they are not refinancing your loan? you have a great credit score and i appreciate that you've taken steps in order to maintain your credit score. i hope you have equity in the property. if you don't have equity in the property, the lenders will not refinance your loan.
if you have equity in the property, then you can contact other lenders and apply for a refinance. it's not necessary that you'll have to refinance the loan from your current lender. you can even speak to the lenders of this community and seek a no obligation free mortgage quote which would help you in knowing the type of rates and terms you would get.
thanks
Legal action should be taken. We found a huge amount entry's regarding Chase and other offenders. This calls for a class action case. I'll bet Mr Diamond is somewhere vacationing or playing tennis in Great Neck!
not amused
not amused
i don't think legal action is wise. by the same token, i'd be jumping up and down at chase's offices demanding satisfaction (calmly jumping so as not to arouse suspicion that i was a terrorist or something - you don't want to get arrested). there has to be a supervisor/manager/division vp/division president to whom you can state your case for a swift decision.
barring that swift decision, you ought to demand your money back, i would think. that $250 is likely gone, but chase ought to compensate you for your wasted time by eating those fees unless they can perform on this new refinance transaction.
if you haven't already taken your complaints to the highest possible level, please do so immediately. a lawsuit over $750 (to them) and $250 (to the other lender) isn't going to move through the courts any time soon. a class action suit would probably outlast all of us in terms of longevity.
barring that swift decision, you ought to demand your money back, i would think. that $250 is likely gone, but chase ought to compensate you for your wasted time by eating those fees unless they can perform on this new refinance transaction.
if you haven't already taken your complaints to the highest possible level, please do so immediately. a lawsuit over $750 (to them) and $250 (to the other lender) isn't going to move through the courts any time soon. a class action suit would probably outlast all of us in terms of longevity.
archie and julia, what pray tell is your basis for making such a definitive statement? do you have certainty that taking legal action will be the easy solution? i'll be quite interested to learn your responses.