Mortgage -- Trouble during payment process -- Complaint #10364301
Complaint Overview
Complaint ID: 10364301
Company: Jpmorgan Chase & Co.
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process
Sub-Issue: Trying to communicate with the company to fix an issue while managing or servicing your loan
State: California
ZIP Code: 92129
Date Received: 2024-10-06T12:00:00-05:00
Date Sent to Company: 2024-10-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
XX/XX/XXXX I went to my local Chase Branch to get checks for my Equity line of credit. I have a {$60000.00} line that I have paid an annual {$50.00} annual fee but have not used it in years. They called their equity offices and said they would mail checks to me and it would take 2 weeks. They didn't arrive, so I called on XX/XX/XXXX and advised them, and inquired what to do. They said, give it a few more business days, then call back and they would stop payment on those checks and overnight some new checks.I waited until XXXX, still no checks arrived, so I called back, was told that they would stop payment but now would need to do an investigation, which would take 90 days, and I would be unable to withdraw from my equity account until the investigation was complete. When I had follow up questions I was disconnected I called back and questioned why the info from the previous week was completely different. With other banks, once you cancel specific checks you can continue to use accounts, and this is an active account. The part that seems particularly suspicious to me is that Chase doesn't provide an Equity line product anymore. They got out of the business. So the equity line I have, I am only allowed to draw funds out of until early XXXX. I feel like they are deliberately dragging their feet to ensure I don't draw from this account.It seems like a pattern of behaviour that may be shady. I also asked if when the " investigation '' is complete if I can just go to a local branch and get my checks there, so this doesn't happen again, and they said no, they will only ship them. So my request for checks from XX/XX/XXXX won't be honored until XXXX. That doesn't sound legitimate.
Frequently Asked Questions
What is Complaint #10364301 about?
Complaint #10364301 was filed against Jpmorgan Chase & Co. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-10-06T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.