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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I am currently almost 3 years into chapter 13 bankruptcy.

Resolved Question:

I am currently almost 3 years into chapter 13 bankruptcy. I was able to keep my home and was making payments as invoiced by statements from my lender JP Morgan Chase. In September of this year a foreclosure procedure was filed on my home. In contacting my bankruptcy lawyer I was informed that this can not happen and a motion was filed to put a stay on the foreclosure proceedings and an investigation was started. JP Morgan Chase informed us that we were behind $65.00 per month since April 2009 and penalties had incurred bringing the total to over $9000.00. We were never informed of being behind until the foreclosure process was started. After further investigation JP Morgan has determined that they had received proper payments but our payments had been added to the loan instead of lowering the loan? My concern is where do I stand in regards XXXXX XXXXX loosing the home. Do I have a legitimate reason to worry about being foreclosed on? Am I really protected under Chapter 13 Bankruptcy laws? Is JP Morgan Chase going to figure this whole problem out or are they really that incompetent? Do I have a mortgage lender fraud situation?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.
Hi JACustomer,
Were you paying the amounts on the statements you received from your lender?
Expert:  cfortunato replied 5 years ago.

If you paid in full the amounts on the statements you received each month from your lender, there is no legal basis for your lender to now change those amounts, or to charge you any fees. Accordingly, they will not be able to foreclose, and you are not in danger of losing your home.

Yes - banks are really that incompetent.


I think this is what you wanted to know. If not, please let me know.
Thank you.



cfortunato and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 5 years ago.
Do I just wait and not make any payments until the lender gets it figured out? This is what my bankruptcy attorney is telling me to do. What recourse do I have if any against JP Morgan Chase blunder and new payments they setup?
Expert:  cfortunato replied 5 years ago.

Thank you for accepting my answer!

I don't want to tell you not to follow your attorney's advice. But I have seen the devastation that can result from not making one's mortgage payments.