Homeowners sue JPMorgan Chase under MMPA
Aug 19, 2011 9:35 am
A Creve Coeur couple has filed a potential class action suit
against JPMorgan Chase alleging the lender intentionally misled and
delayed Missouri homeowners seeking loan modifications.
Thomas and Sharon Hayes sought a loan modification under the Home Affordable Modification Program set up by Congress. But the couple never secured a modification and claim they battled with Chase for almost two years before losing their home at 330 Ladue Woods Court in a Feb. 16 short sale.
They now allege in a federal suit that Chase deliberately impeded their efforts to secure a loan modification by, among other alleged tactics, instructing customer service representatives to keep them on hold indefinitely and lying about the receipt of loan documents.
“It’s nightmarish for anyone to be in, to have your home in jeopardy,” said John Driscoll, one of the Hayes’ St. Louis attorneys. “Congress implemented HAMP and HARP [Home Affordable Refinance Program] and these modification programs with the best of reasons, but many of the people who hold mortgages aren’t seriously following these programs.
“The Hayes aren’t the only people who have experienced problems in relying on HAMP or HARP. It’s really all over the country.”
Christine Holevas, a spokeswoman for JPMorgan Chase, said the company does not discuss litigation.
The potential class action alleges violations of the Missouri Merchandising Practices Act and asks the court to offer permanent loan modifications to plaintiffs and award restitution and punitive damages to homeowners.
The case is Hayes et al v. J.P. Morgan Chase Bank, N.A. et al., 4:11-cv-01429.
Thomas and Sharon Hayes sought a loan modification under the Home Affordable Modification Program set up by Congress. But the couple never secured a modification and claim they battled with Chase for almost two years before losing their home at 330 Ladue Woods Court in a Feb. 16 short sale.
They now allege in a federal suit that Chase deliberately impeded their efforts to secure a loan modification by, among other alleged tactics, instructing customer service representatives to keep them on hold indefinitely and lying about the receipt of loan documents.
“It’s nightmarish for anyone to be in, to have your home in jeopardy,” said John Driscoll, one of the Hayes’ St. Louis attorneys. “Congress implemented HAMP and HARP [Home Affordable Refinance Program] and these modification programs with the best of reasons, but many of the people who hold mortgages aren’t seriously following these programs.
“The Hayes aren’t the only people who have experienced problems in relying on HAMP or HARP. It’s really all over the country.”
Christine Holevas, a spokeswoman for JPMorgan Chase, said the company does not discuss litigation.
The potential class action alleges violations of the Missouri Merchandising Practices Act and asks the court to offer permanent loan modifications to plaintiffs and award restitution and punitive damages to homeowners.
The case is Hayes et al v. J.P. Morgan Chase Bank, N.A. et al., 4:11-cv-01429.
No comments:
Post a Comment