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Thread: Rot in Hell Ch*se Bank

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    Default Rot in Hell Ch*se Bank

    I represent an 80 year old couple who luckily were able to sell their near southside double last fall. Everything seemed to drag out longer than needed but when it came time to close it became surreal.

    Ch*se Bank won't give us a payoff so we can close this deal. The title company has been given the run-a-round first having to get written permission from the sellers to ask for the payoff and now, TWICE being told the bank has no record of the request ever being made. THis in spite of the Title Company having fax confirmation that the request was received.

    The sellers have been in contact with the lender themselves and are not having any luck either. Everything they are told is "ow, you'll get it in 48-72 hrs" This has been going on since January 23 with no resoution in sight.

    I just emailed the sellers a link to the Attorney General's Office and suggested a call to their lawyer might be in order.

    I am now hearing this isn't the first time Ch*se Bank has pulled this same thing, it's happend to other realtors before.


    My theory......they don't want a 5% loan payed off early nor do they want to have the money on hand and end up loaning it out at 3.5%. Just my theory
    If you get to thinkin’ you’re a person of some influence, try orderin’ somebody else’s dog around..

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    Default Re: Rot in Hell Ch*se Bank

    Good to know... I am refinancing right now, from a Chase mortgage to another lender, cutting my rate a lot.

    Hopefully Chase cooperates on the payoff. I will be happy to be rid of them, really.
    The poster "pacertom" since this forum began (and before!). I changed my name here to "Slick Pinkham" in honor of the imaginary player That Bobby "Slick" Leonard picked late in the 1971 ABA draft (true story!)

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    Tree People to the Core! indygeezer's Avatar
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    Default Re: Rot in Hell Ch*se Bank

    Quote Originally Posted by Slick Pinkham View Post
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    Good to know... I am refinancing right now, from a Chase mortgage to another lender, cutting my rate a lot.

    Hopefully Chase cooperates on the payoff. I will be happy to be rid of them, really.
    Hope all goes well Tom.

    The BUYER is now threatening to back out because as of Feb. 15th his rate lock expires and he'd have to pay a higher rate.
    If you get to thinkin’ you’re a person of some influence, try orderin’ somebody else’s dog around..

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    Default Re: Rot in Hell Ch*se Bank

    Chase was a terrible bank in my short time there. They were always trying to float money out of checks I would deposit.

    “WE NEVER SURRENDER, WE NEVER GIVE UP, WE KEEP ATTACKING”- Frank Vogel
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    Default Re: Rot in Hell Ch*se Bank

    how so TJ?
    If you get to thinkin’ you’re a person of some influence, try orderin’ somebody else’s dog around..

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    Default Re: Rot in Hell Ch*se Bank

    Still no word out of Ch*se. A complaint has been filed with the State Attorney General's office. The seller's bankruptcy lawyer is involved, and now the buyer is threatening to back out.

    Rot in Hell Ch*se Bank.
    If you get to thinkin’ you’re a person of some influence, try orderin’ somebody else’s dog around..

  8. #7

    Default Re: Rot in Hell Ch*se Bank

    My experience with Chase is that they are so disorganized that they might be truthful in saying that they have "no record of the requests ever being made" because the request was routed to some manager who didn't read his e-mail or clean out his mail slot.

    You'd think that financial institutions would run a tight ship, but some of them are about as lax as the mom and pop businesses that keep all their records in a shoe box.
    The poster "pacertom" since this forum began (and before!). I changed my name here to "Slick Pinkham" in honor of the imaginary player That Bobby "Slick" Leonard picked late in the 1971 ABA draft (true story!)

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    Default Re: Rot in Hell Ch*se Bank

    It's gonna be a cold day in he'll before I send a client to Ch*se for financing.
    If you get to thinkin’ you’re a person of some influence, try orderin’ somebody else’s dog around..

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    Default Re: Rot in Hell Ch*se Bank

    So my experience was that I was a long time CD holder with a very substantial CD (6 figures) maturing that was also interested in opening a new checking account. I had been at Regions, but I wanted a bank that offered more convenient locations. Chase fits that bill to a T plus they do have a very good app for smart phones. So anyway I've got my savings, my checking, and this 1 CD along with some other holdings, but the savings and checking would be going to Chase to start with. The CD was with National Bank of Indianapolis and once it matured I was going to use that money to buy a house, furniture, etc. So my original bad experience was applying for a Chase freedom card, here I am a person with substantial real value and I cannot get approved for a credit card because at the time I did not have a credit score, I was straight out of college and I was lucky enough to attend college without taking on any debt and therefore I had never really been able to establish any credit. The car drove was purchased by my parents and so I was pretty much an unknown other than my CASH which Chase was well aware of. So anyhoo, that ticked me off to begin with really you won't give me a credit card even when my personal wealth is well above what I am asking for? Stupid. Anyway, I go to NBofI and get approved for a credit card (several months later I applied for a Freedom card again and I was approved instantly, it's amazing what slaves the Chase system is to credit scores, it's the only thing their computers care about).

    So I'm making the switch to Chase for checking and savings after this happened because I still wanted the convenience branch. Well 1.) It started out bad, here I am moving over this money which could easily take care of the house I am wanting to finance, but Chase won't offer me a loan, they just flat out won't even though my cash more than matched up with their money they would be putting in, but again this was still around the time that I basically did not exist as a credit score and so they pretty much wouldn't speak to me about it. Again I went to NBOfI and they immediately took care of me. 2.) I probably should have just realized NBofI was the better choice at this point but I was an idiot and plowed ahead. So now I've got my checking and savings set up at Chase and I'm beginning to move the money from my NBofI CD that had matured. Pretty large checks here and so the first time I go in the check gets flagged and I notice it. Now they do this as a precaution so people don't deposit a big check, immediately pull the cash out and then the bank gets stuck with the bad check. Ok, so I talk to the manager and I explain that A.) My checking account had enough money in it to cover the bad check anyway so what was the reason for this? and B.) I will be moving these large checks over fairly frequently over the next couple weeks and I would appreciate it if they would flag my account so the money would be available immediately when I make the deposit since I would be writing time sensitive checks to the home builder and to other vendors. The manager agreed and assured me it would not happen again and I thought that was that.

    So a few days later I take a check in and the same thing happens, let's throw a number on these checks, let's say these checks were for $15,000 a piece just for fun, well Chase was basically only depositing half of it in my checking account and then my deposit slip would read that Chase would be with holding the other half for 10 days. So I calmly explain to the manager that it happened again, he reverses it and boom suddenly all the money is in my checking account.

    So a few days later I do the same thing, and boom what do you ****ing know, but they are trying to with hold the same amount of money again for the same period of time. So I threw a **** fit in the Chase lobby this time and again was apologized too and instead of it taking 10 days, magically all my money was in my account that same hour.

    So finally a few days later, I'm moving the last of the big checks for a while from the CD account to the checking, it was for the final deposit on the house. I'll just be honest and say this check was substantial, it was a $75,000 check and so I got it on an NBofI bank check so that there should be no problems when I take it to Chase. When I walk in I talk to the manager I tell him what is up and he says there won't be any issue and leads me to the lady at the desk. She deposits the check, assures me everything is fine, and that the money will be there and I start walking towards the door, as I am about half way towards the door, I decide I better check the slip just to be sure. I look down at it, it reads

    TOTAL AMOUNT : $75,000
    AMOUNT DEPOSITED TODAY : $40,000
    AMOUNT WITHHELD UNTIL DATE X (Basically ten days from that day I don't remember exactly) : $35,000

    So I wheel around and I probably gave this poor bank teller a heart attack because I lit her **** up like the 4th of July. And then the manager basically came out and I asked him if he always lied to people's face when accepting a check. Chase was basically saying that they didn't trust a BANK CERTIFIED CHECK from NBofI for 10 ****ing days. Which is beyond absurd. I needed that money that afternoon, I had made it clear, and I had been assured it would not be an issue, and then they still tried to with hold nearly 50% of the value for almost 2 business weeks. What do you know though, I still got that money in my account that same day by lighting off a proverbial firecracker in the bank lobby.

    Anyway, I moved all my accounts back from Chase to NBofI the next day and have been happy ever since. I never have this problem with NBofI they accept all my checks and deposit them immediately with no issues.

    When I say Chase was "floating" checks, what I mean to say is that if they were trying to withhold money for 10 days from my account, that money still exists and it has to show up on Chase's balance sheet somewhere, but it's not really their cash. It's a dangerous line to walk and I do not find it to be a good business practice. But i wonder how many people bank at Chase and don't even notice it when it happens.

    Also, all this took place at a Chase branch in Carmel, so I doubt I was the only schmuck going in there depositing large checks. Hopefully this makes sense, I'm much better at explaining what happened verbally.
    Last edited by Trader Joe; 02-12-2013 at 04:03 PM.

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    Default Re: Rot in Hell Ch*se Bank

    We had a young lady who like you graduated college with no debt and a LARGE bank account. We sold her a house and she applied for a mortgage. Everything went along fine until a couple of days befoe closing the lender decided she didn't have enough credit even though,like you, she had 6 large figures in that bank. Her daddy flew in from Arizona and had to CO-SIGN THE FRICKING LOAN. She could have easily bought the house with cash but wanted the payment record.

    These effing banks are outta control.
    If you get to thinkin’ you’re a person of some influence, try orderin’ somebody else’s dog around..

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    Default Re: Rot in Hell Ch*se Bank

    TJ,

    I have had bad expereinces with chase customer service, but they gave me my first CC and I have stayed loyal with them (I also only have their reward cards. My CU has a CC but it has no rewards. A bad reason not to use that card, but if I am going to spend the money I would like a perk with it)

    Anyways, all banks have a hold for X days (normally 5-10) when I have a deposit over $500. I have only had a few, but when I sold my 1st home I got a nice refund from the mortgage company and had to deposit it. Luckily I did not need the money right away.

    Is this what you dealt with, or was it another type of "hold"

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    Default Re: Rot in Hell Ch*se Bank

    Quote Originally Posted by indygeezer View Post
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    We had a young lady who like you graduated college with no debt and a LARGE bank account. We sold her a house and she applied for a mortgage. Everything went along fine until a couple of days befoe closing the lender decided she didn't have enough credit even though,like you, she had 6 large figures in that bank. Her daddy flew in from Arizona and had to CO-SIGN THE FRICKING LOAN. She could have easily bought the house with cash but wanted the payment record.

    These effing banks are outta control.
    I actually get where the banks are coming from.

    Being the son of a realtor, IMHO that sounds like a really ****** loan officer. Perhaps I am out of line judging someone on such a brief story, but the loan officer should have told your client that would be a problem early on, and definitely not days before settlement

    ____________

    FWIW, as much as I loved them at first, the two worst banks IMHO are BOA and Wells Fargo. Wells Fargo was not terrible, but the fees killed me when I got out of college.

    BOA was great at first. Then they turned to ****. And I got EVERY bad customer service rep in the DC area. After a month of fighting with customer service I smiled and just said "close my account out, in full please"

    damn shame, but credit unions are harder and harder to find if you move often (or if, like me, you have a CU in the District of Columbia but go to school in Florida)

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    Default Re: Rot in Hell Ch*se Bank

    Quote Originally Posted by vapacersfan View Post
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    I actually get where the banks are coming from.

    Being the son of a realtor, IMHO that sounds like a really ****** loan officer. Perhaps I am out of line judging someone on such a brief story, but the loan officer should have told your client that would be a problem early on, and definitely not days before settlement

    ____________

    FWIW, as much as I loved them at first, the two worst banks IMHO are BOA and Wells Fargo. Wells Fargo was not terrible, but the fees killed me when I got out of college.

    BOA was great at first. Then they turned to ****. And I got EVERY bad customer service rep in the DC area. After a month of fighting with customer service I smiled and just said "close my account out, in full please"

    damn shame, but credit unions are harder and harder to find if you move often (or if, like me, you have a CU in the District of Columbia but go to school in Florida)
    The upsetting thing is, the young lady had a credit card with perfect payment record and an 810 credit score. BUT....she only had the one credit line and the bank wanted 2.....or so they said. (The father threatend to buy the bank and fire all of them. I have no doubt he had the money to do just that)
    If you get to thinkin’ you’re a person of some influence, try orderin’ somebody else’s dog around..

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    Default Re: Rot in Hell Ch*se Bank

    Quote Originally Posted by indygeezer View Post
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    The upsetting thing is, the young lady had a credit card with perfect payment record and an 810 credit score. BUT....she only had the one credit line and the bank wanted 2.....or so they said. (The father threatend to buy the bank and fire all of them. I have no doubt he had the money to do just that)
    Banks are stupid with stuff like that.

    I also literally just laughed out loud at the last line

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    Default Re: Rot in Hell Ch*se Bank

    WE GOT IT!!!!! Sellers talked to a supervisor's supervisor today and were told that if they would provide him with yet another request he would personally send it out that day (yesterday). They immediately emailed him a request and at 2:30 the payoff came across my personal fax machine at home.

    Closing is today at 3:00. I just pray it isn't a dry closing and all goes smoothly.

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