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This settlement is closed!
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JPMorgan Chase has agreed to settle a class action lawsuit over allegations the company failed to offer homeowners timely and proper Permanent Loan Modifications after they completed Trial Period Plans under HAMP or Chase’s own equivalent program.
Lead plaintiffs allege in the JPMorgan Chase mortgage modification class action settlement that the lender breached agreements it had made with the plaintiffs when JPMorgan did not provide loan modifications to homeowners who had entered into loan modification programs. According to the class action lawsuit, the homeowners entered into either government run HAMP trials or equivalent programs with the understanding that JPMorgan would permanently modify their home loans after they completed the program. These programs included stated-income trial period plans (TPP). The plaintiffs alleged that JPMorgan subsequently failed to modify their mortgage agreements.
A federal judge preliminarily approved the proposed Chase mortgage class action settlement on May 28, 2014. Class Members that wish to remain a part of the class action settlement do not have to do anything now. They automatically will be eligible for the settlement benefits if the Court grants final approval to the settlement.
Who’s Eligible
You are a Class Member of the JPMorgan Chase mortgage modification settlement if:
- Your loan is serviced by Chase and you participated in a stated-income trial period plan (TPP) extended by Chase under the Home Affordable Modification Program (HAMP) and/or under another non-HAMP modification program, and
- You made timely and sufficient trial payments required by the TPP, and
- Your property has not been foreclosed, and
- You have either (a) not received a permanent loan modification eligibility decision since the start of your trial period described in your stated-income TPP, or (b) you did receive an eligibility decision denying the loan for permanent modification during or after your trial period described in your stated-income TPP, and
- You are not currently a debtor in bankruptcy proceedings.
Potential Award
Under the terms of the proposed class action settlement, JPMorgan Chase has agreed to:
- Provide an opportunity for new loan modification applications based on your current circumstances;
- Provide paid counseling assistance from qualified, independent, nonprofit organizations to assist you if you choose to apply; and
- Provide foreclosure stays, in most circumstances, to prevent foreclosure while you apply;
- Waive certain previously assessed fees and costs if your new application is approved and you agree to a loan modification.
Class Members will not receive a cash payment in connection with the JPMorgan Chase mortgage modification class action settlement.
Proof of Purchase
N/A
Claim Form
Note: There is currently is no claim filing process for this class action settlement. According to the Settlement Administrator, Class Members will automatically be eligible for settlement benefits if it’s approved by the Court.
Claim Form Deadline
N/A. If the Court gives final approval to the class action settlement, Class Members will receive an invitation letter 75 days after the settlement becomes effective. The invitation letter will explain the process for making a new application for a mortgage modification based on your current circumstances.
To be eligible for the additional review for a loan modification, Class Members will be required to contact Chase through the “800” number provided in the invitation letter, within 30 days from the date of the invitation letter.
Case Name
JPMorgan Chase Mortgage Modification Litigation, MDL No. 2290, in the U.S. District Court for the District of Massachusetts
Case Summary
The class action lawsuit alleged that JPMorgan Chase and certain other parties failed to offer timely and proper permanent loan modifications after they completed TPP under HAMP or Chase’s own equivalent programs. The plaintiffs in the JPMorgan Chase mortgage modification class action lawsuit claimed that JPMorgan Chase was liable for breach of contract, unfair trade practices and other violations of the law. JPMorgan Chase has denied any wrongdoing and contends that it has fully complied with the law.
Final Hearing
10/8/2014
UPDATE: The Court granted final approval to the settlement on May 7, 2014.
Settlement Website
www.ChaseMDLSettlement.com
Claims Administrator
Chase Mortgage Modification Litigation
P.O. Box 43223
Providence, RI 02940-3223
1-855-564-7379
Class Counsel
Gary Klein
KLEIN KAVANAUGH COSTELLO LLP
Gretchen Freeman Cappio
KELLER ROHRBACK LLP
Charles Shaffer
LEVIN FISHBEIN SEDRAN & BERMAN
Michael Flannery
CUNEO GILBERT & LADUCA
Defense Counsel
Michael J. Agoglia
MORRISON & FOERSTER LLP
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57 thoughts onJPMorgan Chase Mortgage Modification Class Action Settlement
I did a loan modification with Chase it only took 3 years and after being approved when the loan was with WAMU. This was when Chase took over the loan they rescinded the approval and I had to start all over again…..This this it only took 2 years.. Chase increase my loan amount $149,116 charging me late fees and interest during the time they we reviewing again. Unfair Business Practices as I see it.
Guys, attempt # God knows which one – another foreclosure scheduled and yet again piles of lies accepted by state and federal governments! What must happen for them to understand that this is insane – all of the evidences in front of the officials: they ask – I send it and then the same BS answers in response! All this time, basically, I’m trying to prove that I am not elephant!
I tried to get a loan midification with chase bank back in 2009 i submitted my application and when i called to check on the status tjey said tjey mever recieved anything not only did i mail the copy back i also faxed a copy of the application and everytime i called to check tje status they told me they never recieved anything all 4 times then they called on the 17th of december 2009 told me we had to be out by the 24th of december on christmas eve i told them no way im moving our christmas eve that i wasnt mo ing out till january with my 4 kids and fiance chase bank lied to me and when i needed the modification they kept telling me they never recieved my paperwork but 4 times i sent by mail and fax
They did a modification for me ..yeah it really helped ..it was 18 dollars lower than my original payment…that’s it 18 dollars..what a joke
I lost my home in 2006 with Chase Bank. They put my home in foreclosure due to missing payments. I lost my job in 2006 with JP Morgan Chase Bank. The relocated my department to Indiana and we received a severance package because I decided to do not move to Indiana, because my kids were in the schools and other important matters. After Chase gave me a laid of , my financial situation got worse and Chase reposed my car first and the next critical step was , they do not accept the short sale and put my home in foreclosure. I am looking for advise if this situation could be a case and claim my rights for all this critical situation that ends in divorce and my kids mentally destroyed. I will appreciated your comments on this topic and see how we can proceed.
Thanks you so much in advance for you attention and support.
We need help, we had hired a couple different companies that were suppose to help us save our home and get us a modification. The modification ended up $400 a month than we were paying and didn’t get to us in time. Chase mortgage refused to do a HAMP loan. My husband had lost his job first of all after Sweetheart bakery had filed bankruptcy. Then he got another job and he got laid off 3 times in the past 3 years. Now Chase mortgage is doing a foreclosure, they’ve tacked on a lot of interest. We have our house for sale and Every time we get a buyer or close they tack more interest on. Please help us. The realtor has tried talking to them too and No success at all.
Went through hardship back in 2006/2007, spent lots of money trying to keep house before anyone ever suggested a modification. Is there a number for me to call for info on class action for that time. Have tried several numbers from above and none seem to work or are constantly busy. Any suggestions?
I have had the same problem and no contact numbers no help nothing
We win the case against JPMorganChase in Federal Court of Appeals (March 2014) in StLouis,MO, reinstalled the case in Federal Court, but by the end of the year my attorney, suddenly (?!?!?!) decided to move the case to State Court. We lost it and now I’m facing the worst. JPMorgan Chase sold my mortgage to SPS,inc (Deutschland banks subsidiary) and the are foreclosing on my property. Don’t know what to do and where to go. Topchian vs. JPMorganChase
If anything can be done or anybody has any idea – please contact me. Desperate for help.
O my goodness this is exactly what has happened to me same servicing company same problems ..I found out that SPS does not notify Deutschland Bank of anything they just take your property ..I think they are all working together .this truly is predatory lending
Exactly, Deutsche Bank gives a green light to a companies such as SPS, which, on the other hand, covers up, what they call, a “toxic loans” for JP Morgan Chase, so the latter will look clean to Federal Government. In meantime people is loosing their homes, money, health etc. etc. etc. JP Morgan’s attorneys are using completely different sets of arguments to state or federal courts, since they settled with the federal government 6 years ago – they are more cautious to let the cases go to the federal court room, but instead of settling the cases they use dirty tactics, by trying to dismiss the case, buy of the plaintiffs attorneys and simply lie to the federal court.
I don’t even know how the case was settled, without nnotification sent to me, and/or of the outcome of the settlement.
Facing another foreclosure just in a month – in December of 2018…
CHASE MAILED MY HOME EQUITY COUPONS TO SOMEONE IN LONG ISLAND — THIS WAY THE “WIFE” WOULD NOT SEE THE EXPENSES BEING CHARGED. CHASE NEVER CALLED ONCE TO SAY HEY YESTERDAY YOUR BALANCE WAS 0 AND TODAY IT IS $25,000. Are you aware of this —- and next month $10,000 more was put on and then 30,000 all the up to 100,000 which It was capped at.
The only time chase called in several years was to say you are now at 100,000 — never before to say hey some dude in long island is receiving your coupons and he is not on the home equity. Are you aware? Not once. and coincidentally the first time in several years when they did call it must have been outsourced because the connection was awful and I could not understand what they were saying—- we kept getting discounted and I would have to explain all over. The entire ordeal was 3.5 hours for me to find out my balance was over 100,00. It took me years to pay off at least 50% of my paycheck for 8 years. I had to beg for a payoff letter and chase sends it in my husbands name only WHAT???? WHAT ???I PAID IT OFF. AFTER 7 ATTEMPTS THEY SENT IT IN BOTH OUR NAMES WITH HIS NAME ALWAYS FIRST ALTHOUGH MY NAME ALPHABETICALLY IS FIRST. GREEDY PEOPLE IMMORAL NO CHECKING WHEN A BILL GOES FROM 0-25,000 IN ONE DAY AND THE ADDRESS CHANGES to a stranger in another state the law has to be changed ( I also feel discrimination ) because it was always your husband said who paid it off—- me I need money for anxiety and y therapy because of this. and the interest it caused me I would like reembursed
Chase called me and sold me on the harp deal.I was not behind in payments unroll they told me to miss them for eligibility.after redoing the trial period several times they charged me almost 12k for a “free” modification and when I refused to sign they threatened to disclose. After I signed I tried to appeal but after a year of being ignored I contacted the DOJ then Chase redid my loan.but I spent a couple years wondering if I was going to lose my home.they shouldn’t get away with this.
Why is there no recourse for those who went through this process in the year 2008. My house was foreclosed on after a modification. Do we have any rights in this settlement.
Teamos and Evelyn Hogan
You can contact class counsel with your questions. Counsel is listed in this article and on the settlement website and can be Googled for contact information.
I had my house loan modified and took me 3 years after jumping though hoops and faxed all documents multiply times a month and started taking the paper work to the bank and now I owe after 19 yrs in the in my house I owe more than my original loan by 33000.00 dollars. is there anything that can be done. we even went to court twice, the judge told me that we could take care of the added interest at another time. is there anything that I can do??
I tried to call to the numbers provided but had just busy signals on the other hand. Many times.
Please, provide some reliable contact information, so I and other interested individuals can call or contact by email (or by other way).
Thank you in advance!