Does anyone have a mortgage with Chase?

[eatatmidnight]

We are thinking of refinancing with them and would like any opinions you have.

 

[2greatkids]

Hi. We refinanced with cash back with Chase a few years ago. Did most of the work over the phone and they came to our house for the closing. The closing costs were VERY expensive...as much as a regular closing would cost. I know it is different for every company and based on other factors, but I talked to people after and they only paid $400-$1200 to refinance. Hope this helps!!

 

[descovy]

We just refi'd with Chase... took 118 days!

Overall I am happy with my rate, closing costs were inline. Calculating closing costs b'tween banks can be tricky... less closing costs, often a higher APR, (to offset the "true" costs of closing)

If I could do it over again, I would do it with a branch loan officer, where I could meet face to face. We did ours by phone and email and it was painful to communicate with them.

Lots of extra scrutinity this time (previously 2 mortgages, 1 refi) They ordered a drive-by appraisal, and later decided they needed to prove it was occupied, so they ordered a full appraisal a month later. They scrutinized our bank statements for any large deposits, and we had to prove that they weren't loans (dh's work bonus, a CD matured, even questioned our tax refund!)

All of this was done by phone, email, fax, often can't get ahold of our rep. Now that it's done I am happy. Just wasn't easy to do

 

[lbgraves]

We did have our morgage with Chase and they messed us up horribly!!! We ended up refinancing to get away from them. We did not escrow but had the insurance proof sent to them. For the first year this was fine. The second year they sent us a notice saying they needed proof of insurance or they would purchase a policy on our behalf. Fine, I contacted our agent and he faxed them a copy of our policy and got a confirmation it was received. Next month we received another notice. I entered the information myself on the website noted in the letter, received an email that the information had been received that day and three days later received an email thanking me for the information and it had been processed. The next month we got another notice but this time it was a bill for $5500 for the policy they purchased for our home. I was going past the agent's office so I stopped and gave him the letter to handle since I was so livid. He faxed another copy and called and spoke to a supervisor. The agent told me that this happens all the time with their clients who have Chase for their mortgage. In the meantime we were going to have our loan recast because we had finally sold our other house and due to the poor CS by Chase went with another company. When I went to check our balance to find out what the balance would be approximately there was a negative escrow amount for the $5500 still. In the end our new loan agent, our insurance agent and our attorney were invovled with trying to get Chase to reverse the charge. They quickly admitted that it was their error and that we needed to be credited but it took 45 days for them to credit the charge to our mortgage and delayed our refinance, which thankful our loan agent extended our rate since it had gone up since we had locked it in.

Basically, I wouldn't wish Chase on my worst enemy when it comes to a mortgage. The agent, which we have known for years since she used to be a paralegal for our last attorney [who the only reason he isn't still our aty is because he was killed in an accident years ago] and she said that thier office has dealt with customers who had to go to court to get Chase to correct this exact same problem. There are complaints lodged against Chase with the BBB and other agencies that regulate mortgages but Chase just doesn't seem to care.

 

[donac]

I just refi with them and it went very smoothly. It took about 35 days and we did everything over the phone. They came to the house for the closing. It was a breeze.

 

[tayandjensmom]

They bought our mortgage, about 4 years ago. Have had no issues with them. We have an escrow, last year we actually ended up getting money back. What a surprise.

 

[pixidust77]

They also bought our mortgage about a year ago--- haven't got any money back from escrow though Customer service has been helpful with us!

 

[tchrchgo]

we are having problems with our new chase mortgage. they sent us a letter saying our insurance coverage was inadequate. our agent said it's fine, but we are having trouble converying this to chase!

 

[eyor44]

We were with Chase for almost three years when they purchased our mortgage. A month after they assumed our loan we started getting calls to refinance. About once a month they would call and we finally just stopped answering those calls.
We also did not have an escrow account as we paid the insurance and taxes out of pocket. We did get the letter the first year about proof of insurance, but did have any problems with it.
When the rates got low enough for us to refinance, I did call them first to chekc their rates and got serious attitude from the agent. Let's remember that they had been begging me to refinance and once I was ready, got attitude. I finally called the agent on it and reminded him I was doing Chase a favor by calling them first. He finally sighed and said if I could get the rate I was qouting from my credit union, I would be better off doing that. They couldn't match the rate at that time.

 

[eatatmidnight]

Thanks for all of your responses. It sounds like "hit or miss" with them. We were considering it because of the Upromise points we could possibly get. We will probably go to our credit union.