Thursday, August 18, 2011

Bankster Stiffs Another Victim: Uses Loan Mod Lure To Get Struggling Homeowner To Empty Bank Account, Then Denies Permanent Payment Workout Anyway

In Rush City, Minnesota, the Minneapolis Star Tribune reports:

  • When Mardee Jerde's bank threatened to foreclose on her house if she didn't immediately make up nearly $50,000 in overdue mortgage payments last year, she paid up -- even though it left her virtually penniless.

  • Two days after J.P. Morgan Chase acknowledged receipt of Jerde's $49,825 money order, however, the bank told her she didn't qualify for the one thing that would have made it possible for Jerde to remain in her home in Rush City, Minn.: a permanent loan modification.

  • Jerde said she feels betrayed by the banking giant. She said she did everything demanded by Chase, including making partial mortgage payments for 11 months after a car accident left her unable to work. To satisfy the bank, she wound up using the entire settlement she won from her lawsuit over the crash.

  • "If I had known that [the bank would foreclose anyway], I never would have sent that money," said Jerde, 68. "I would have been out of my mind. That was given to me to live on. Now I have nothing."

For more, see $49,825 didn't satisfy lender (Homeowner emptied bank account for her house, but it wasn't enough to stop Chase from foreclosing).

No comments: