Tag Archives: JPMorgan Chase


JPMorgan Chase Pays $18.3M for Misleading Mortgage Info

JPMorgan Chase & Co. has agreed to pay $18.3 million to settle a lawsuit accusing the lender of misleading homeowners about interest rates on adjustable rate mortgages. The lawsuit, filed in 2007, alleged that JPMorgan Chase and lending units of Bear Stearns misled consumers by failing to tell them that their loan’s principal would increase if they made the minimum monthly payment. The class action was filed in 2007, and J.P. Morgan acquired the loans when it took over EMC …

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Posted 1 year ago in Creditor/Debtor Crime by Josh Crank  
Calif. Sues JPMorgan Chase for Robosigning Debt Collection Suits

California’s top lawyer has filed a suit against JPMorgan Chase for fraudulent and unlawful debt collection practices. Attorney General Kamala Harris accused the lender of burying California courts in thousands of debt collection lawsuits without verifying the validity of the suits or even serving the defendants with court papers. The suit specifically alleges a widespread practice of robosigning — signing hundreds of pages of legal paperwork without reading them — in JPMorgan Chase’s credit card collection efforts. JPMorgan Chase was …

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Posted 2 years ago in Consumer Law by Larry Bodine  
How JPMorgan Chase Gouged its Credit Card Customers

JPMorgan Chase Bank will pay $100 million to settle claims that it jacked up interest rates on loan balances that were transferred to consumers’ credit cards after it promised them a fixed rate, according to documents just filed in a California federal court First came the bait: for an up-front fee, consumers could transfer the balance from your home equity loan, car loan or other credit card balance to their JPMorgan Chase credit card, and get a low fixed rate …

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Posted 2 years ago in by Josh Crank  
Short Sales Soar as Home Foreclosures Fall

The foreclosure crisis isn’t over, but a new trend in real estate sales could be the light at the end of the tunnel for many borrowers and lenders. Short sales, which occur when homeowners sell their homes for less than what they still owe, outpaced foreclosures for the first time ever in January, according to a new report from Lender Processing Services, Inc. Another report by RealtyTrac estimates that short sales rose 33 percent between January 2011 and January 2012. …

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Posted 2 years ago in Uncategorized by Sylvia Hsieh  
Next Wave of Foreclosures Underway

Contrary to some recent rosy predictions of a recovering housing market, thousands of homeowners are still underwater on their mortgages and lawyers who represent homeowners say the next wave of foreclosures is looming. Companies that track foreclosures have already seen a rise since the beginning of the year. Lawyers working in the trenches with distressed homeowners see no let up. “We’re constantly deluged by calls,” said Patrick Dunlevy, a Los Angeles attorney with the country’s largest pro bono law firm …

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