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The banking giant JPMorgan Chase is admitting it made some very big mistakes. As first reported by NBC News, the firm says it overcharged more than 4,000 active-duty military personnel on their home.
JPMorgan overcharged military families, improperly foreclosed Stacy Magee Contents Spotlight: superior home services hsbc Shoreline homes!treasury prepares Principal reduction alternative (pra) Census bureau “2014 american community survey Separate.
Chase Overcharged Over 4,000 Military Families On Mortgages, Improperly Foreclosed On 14 1.19.11 12:00 PM EDT By Ben Popken readers military families jp morgan chase chase what matters personal.
Foreclosures: JPMorgan Chase’s Abuse of U.S. Soldiers Shows System Has Collapsed.. he bank admits mistakenly overcharging 4,000 military families for their mortgages and improperly foreclosing.
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Since discovering the errors, Lemkau says, Chase is issuing more than $2 million in refunds and has come to a resolution with nearly all of the families who were wrongly foreclosed on. What’s more, the bank now has a special unit to handle mortgages for members of the military and has reduced service members’ interest rate to 4 percent.
One of the nation’s biggest banks – JP Morgan Chase – admits it has overcharged several thousand military families for their mortgages, including families of troops fighting in Afghanistan. The bank.
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· jpmorgan ousts mortgage chief Lowman. JPMorgan Chase & Co. (JPM), the second- largest U.S. bank, ousted mortgage chief David Lowman after it overcharged active-duty military personnel on loans and improperly foreclosed on other borrowers.
JP Morgan Chase & Co. has overcharged thousands of military families for their mortgages, including families of troops fighting in Afghanistan, NBC News has learned.
· Both Captain Rowles and his spouse Julia accused Chase of violating the law and harassing the couple for nonpayment. An official stated that the situation was "grim", and Chase initially stated it would be refunding up to $2,000,000 to those who were overcharged, and that families improperly foreclosed on have gotten or will get their homes back.
· In April 2011, JPMorgan Chase admitted that it wrongly overcharged 6,000 military families for their mortgages, including active duty personnel in Afghanistan. The bank also admitted it improperly foreclosed on more than a dozen military families. Chase agreed to pay a total of $27 million in compensation to settle the class-action suit
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