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A federal judge has ruled that JPMorgan Chase must face a class action lawsuit that claims it defrauded New Jersey residents who applied for the Home Affordable Mortgage Program, a federal program designed to help homeowners in danger of defaulting on their homes.
Chase opted into HAMP through Fannie Mae shortly after the plan was implemented in 2009. The plan is designed to lower homeowners’ monthly mortgage payments to sustainable levels, but New Jersey homeowners say they never got the benefits of the program. Instead, they say, Chase took the federal money designed to bail out homeowners and systematically rejected HAMP applications based on false claims that homeowners did not provide the appropriate documentation, even though many homeowners claim they did.
Lead Plaintiff Johny Thomas claims in the JPMorgan Chase mortgage fraud class action lawsuit that in October 2009, he and his wife were struggling on their home mortgage loan and requested a HAMP modification. Later than month, he claims Chase sent them a letter telling them they were eligible, but that they should sign up and pay for a trial-period plan.
Thomas says he and his wife made these trial payments for about six months, until they received a letter from Chase stating their application was declined because it did not meet an unspecified requirement, even though Thomas says he met all the requirements necessary. Chase then refused to apply several of the payments Thomas made before foreclosing on their home on August 2, 2010.
A second Plaintiff, Johnny Fields, makes the same allegations in the Chase HAMP class action lawsuit, saying that, just like Thomas, he applied for a HAMP modification on his mortgage in December 2009 and made trial payments. Just as in Thomas’s case, Chase eventually declined his application, citing inadequate documents, which Fields says he field. A year later Chase sent him a notice of intent to foreclose.
Thomas and fields filed separate class action lawsuits but later joined forces in a consolidated case against JPMorgan Chase in February, charging 10 separate claims. Last week, U.S. District Judge Shira Scheindlin dismissed eight of them, but ruled that JPMorgan Chase must stand trial for counts of violating the New Jersey Consumer Fraud Act and engaging in negligent misrepresentation.
The JPMorgan Chase Mortgage Fraud Class Action Lawsuit case is Johny Thomas and Johnny Fields, et al. v. JPMorgan Chase & Co. and Chase Home Finance, LLC, Case No. 10-cv-08993, U.S. District Court, Southern District of New York.
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117 thoughts onJPMorgan Chase Mortgage Fraud Class Action Lawsuit Continues
In 2009 I lost my job and was unable to secure full time employment for 9 months. In 2009 through 2010 I also attemped to modify my mortgage with EMC/Chase 5 times. I even went to NACA and they submitted everything to Chase again. They were always declined no explanation. I was unable to reach the adjuster working on my mortgage for 9 months during this time my local community services -Tempe AZ were going to assist with a mortgage payment. I sent faxes, emails, letters, left voice messages explaining all this and never received a response. I was evicted out of my home in 10/2010 with court notice that house was to be auctioned off on 11/15/2010. This never occurred until March 2012 in which Chase made 20,000.00 profit on my home plus I put 50,000.00 down when I bought it. I even went thru Chief executive office in spring 2010 and recived no assistance but was told to fill out another modification which I did not do after 5 prior attempts.
lost my home of 35 years, tried loan mod but bank kept asking for more and more of the samepaperwork, put on trial mod and was ontime for 5 months, thought the trial period was 3 months, after that they foreclosed because we supposedly did not send all the paperwork again to them yet I have proof I did.
DOES ANYONE HAVE A LAWYER OR CLASS ACTION TO JOIN?
Chase is full of criminals there is no doubt. My advice is get an attorney and file counter claims against them and any trustee they are using such as Deutsche. Cover them up with production requests of documents on the deed, the securtitization, loan docs, etc. They will stop and try to settle. Now that they get credit under the AG settlement they should talk. If you counter sue them then they cannot just dismiss when the judge finds out they don’t give you docs and they don’t have their name on the title. Push them to the wall, do research on the internet — there is a lot of info there against Chase.
I am in foreclosure by Chase Bank and I used my GI Bill for the loan and Chase had me doing the loan modification paper work over and over again the same papers to the point I just gave up knowing chase had NO intention of ever loaning out any of the 25 billion tax dollars they were given to make loan modification. I would like to get my name on the class action suite!!! I’m in PA
jp morgan chase is a bank operated by criminals, operating with permission to break the law given by our congressmen, senators and judges. If we the citizens were given as much lattitude as these morons, perhaps this country might take a few steps forward. If you should be fortunate enough to live through the task of securing a loan modification you will definately pay 3000.00 to 10000.00 more for this priveledge. You will pay interest on top of interest, unnecessary escrow,and trial payments that will never be credited. These people are professional thieves. The bank should be renamed. Perhaps Frank & Jesse Chase Holdings. My ultimate life’s goal is to somehow screw this garbage pile called JP MORGAN CHASE.
I am in the process of doing just that
I have been in a 3 year battle with Chase. Do not fall for these “modification” attorney companies. After $5000.00 and 3 different Law Groups, we are now being forced out of our home. Until filthy rich stop owning gov’t we’re going to continue down this horrible path. In 38 yrs I’ve never been evicted/forclosed. Until now.
They dont have the original title deed! Ask for it in a qualified written request! If they cant produce it they have NO legal authority to collect or foreclose! All mortgages bundled and sold on the stock market were separated from their original tile deeds! A mortgage is not an instrument its all a big scam! MCB
The state of Georgia supreme court ruled in favor of j p morgan chase on original tittle deed, so could this requirement work for home owners in Georgia?.
Hi, is that true in florida because I got screwed by Chase and seterus. Thanks alex
Chase took my house from me after selling it to another lender. When they declined my modification even though I make a good living, they told me they would accept a short sale but foreclosed even though I had an immediate buyer. What I have discovered is that my house is worth more to Chase if they foreclosed because my mortgage was insured. They were paid either way. I cannot believe what occurred during months of daily battles to save my home. My case is in litigation and I will never give up proving what they did to my family was unethical.
They dont have the original title deed! Ask for it in a qualified written request! If they cant produce it they have NO legal authority to collect or foreclose! All mortgages bundled and sold on the stock market were separated from their original tile deeds! A mortgage is not an instrument its all a big scam! MCB
what state do you reside in???
I’ve been trying to get a loan motivation from chase to get out of foreclosure and they just keep making me do the same paper work over and over and over/9 times now I’d done the same paper work. Till this week I’ve come to realize chase has no intention of doing anything they just want to service my VA loan and charge for doing that as long as they can and want me to take care of the house until they physically take my house. They are the biggest scammers of them all and in to big to fail my US government gave them 25 billion to loan out which they use to collect interest off and to invest in the stock market and they’re not going to loan anyone of the intended 25 billion for loan modification a penny. To chase that was money for them to steal from the USA
I have fighting them three years and 6 month
I feel bad for you Anonymous, Cause I did the same and then after 3 months went by, I was told my house was being foreclosed on, I called a lady that helps sell in a short sell and got my house sold within 1 month, I was told that if my house was being foreclosed on, then I would not have been able to sell it in a short sell, A year went by, and Chase still had me as the owner, and kept sending me letters, now 2 years later, its on my credit that I went into foreclosure, I have done everything and no one will remove from my credit report. I feel lucky that my house sold so fast, we had put a lot of money into it fixing it, due to a storm messing it up rel bad, our insurance replaced the kitchen and windows and doors, making it worth more. But I feel unlucky to have sold my house due to losing my job after 15 years. And to think, that Chase did not help me. Why would you offer it, if you are going to help.
Chase first started their scam by charging fees for home owners and when we gave them proof we had it had to contact the attorney general to get it removed but then they added back on turned our loan to ecskrow and for closure begin so we called this co called hope threw chase and was told about modification then received a call from a co named first universal they ended up being a scam got us for four thousand told usIto stop mortgage pay ments and pay them in stead we asked a rep at chase they saidit was true long story short they ran us around told us we would have to do three trial payments doubling our pay ments I was told if didn’t pay they would not do the modification more and more scams took place I can’t tell it al that how much morethings that transpired and they took our home after a two year battle to get a modification. We was not missing any payments until chase and this modification co said no more payments neede tell they decide what the new payment would be