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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
I am interested in a class action against Chase for inflated appraisal and illegal lending practices. Thank you!
A few years ago I bought a house that was not worth what I payed for. I was having problems making my payments because my job was cutting back on our hours at work. I called my mortgage company JP Morgan Chase to get my loan modified, they said not to make any payments until the modification gets approved, the only thing Chase did was put my payments in the back of my loans and my payments went up 100.00 more. It was even harder to make a payment. I decided to sell my home in 2011, Chase approved the appraisal for $150,000.00 home, to $80,000, for a short sell, I was so angry. My credit is now bad because of a short sell and foreclosure on my credit. I felt I could have been helped to stay in my home, now it will take me three years to buy a home. Chase came out to approve the appraisal for $80,000.
I am in my third attempt at filing for a loan modification, I was told by a para-legal that her daughter was denined several times until eventually she fell behhind and Chase foreclosed on her. That is happening to me I don’t know what else to do but file Chapter 13 to stop the foreclosure. The attn I am seeing told me that Chase is facing several class action lawsuits for failure to supply modifications. I want in!
Is it too late to be added to this case?
I wanted to let someone know before the cutoff of this law suit on 31 December. It took over 2 years to get my mortgage modified and all the while I was facing foreclosure. I filled out several modifications forms until I finally received my modification in July 2011. I was continually faxing modification and other document from Nov 2009 until July 2011. When I first filed in November 2009, I called Chase and they stated they word have my modification completed in 3 or 4 more. Nothing could have been further from the truth. Please add me to the law suit. I was done wrong and put under extreme presser.
Thank you, Car E. Durham
We are In the Process of a Modifaction Loan.Last Year We Couldn t Pay All of Our Property Taxes.So Chase Sent Us A Letter Saying We were Late On Them.So We Sent Them Proof That We were Paying A Little Each Month.So What Does Chase Do They Pay It For Us and Then Let Us KNow they Opened an Escrow account for Us.Chase Paid $409.00 They Wanted $869.00 Back That is Over 100%.We Called them and Told them We are Both On Disability.I do to Heart Diseae and DiabetesI am 58 My Husband Due to Arthuritis Of the Spine He i64 Chase Sent Us An Application for Modifaction.That was In August.then They Kept Sending Letters That we Didn t Send The right Documents.and on and on.NOW! We gwt Notice of Intent to Forclose because we Haven t been Sending the Extra Money.We Have However Been Sending Our Normal Mortage Payment.Which is $969.09 and They Want Us to Pay them 1,087.45 a Mont.we have all we can do to pay the Bills we Have Now.So what You are all Saying is that we Might Not Get Our Modifaction!
What’s the number for a Lawer. I lost both houses
All I can say is that It has been a long hard fight to keep my house, in the meantime they have forced me in trying to fight to keep my Home, I have had to go completely upside down with all of my bills. Sometimes I wonder if any of this is even worth it, sometimes I struggle with depression and stress of the whole thing. Please HELP.
These stories sound so familiar I have dealt with chase for five years trying to get a modification and all I got was fraudulent lies one after another. So I went to short sale and got a cash offer for the short sale list price and chases reply was that it was to close to the foreclosure sale date and that they closed the file yet they never contacted me of a foreclosure date nor did they file with the county for the sale. The trustee told me no one bid on it yet chase told me it sold. Now I found out chase has listed it with there own agent. How. An this be legal they violated my short sale. Please let me know if there is a class action law suit taking place.
Does anyone know how to get involved in the class action suit??? Do you guys know they had computer problems and lost peoples paperwork so are making bogus statements trying to get us to send everything in again!!!! NOT MY PROBLEM…