HUNTINGTON — A Lesage couple is suing JPMorgan Chase Bank and Chase Home Finance after they claim the bank breached its contract with them.
Denise Ash and Matthew Ash purchased their home in 2003 for $91,000, which was financed with a loan through First Franklin Financial Corporation, according to a complaint filed March 24 in Cabell Circuit Court.
The couple claims the loan was ultimately assigned to JPMorgan Chase Bank and the servicing of the loan was assigned to Chase Home Financial.
In the summer of 2010, Chase Home Financial informed the Ashes that it would be raising their payments from $680 to $1,190 for repayment of force-placed insurance over the previous two years, according to the suit.
The couple claims they contacted Chase because they were concerned about being able to afford the new payment and a representative suggested they apply for a loan modification and stated that the couple should not may any payments until the loan modification was processed.
And I bet you can’t figure out what happened from there.
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