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"It's Been A Living Nightmare" - JPMorgan Admits To Illegally Overcharging Thousands of Troops on Mortgages, And Wrongful Military Foreclosures

This pushes the boundaries of outrage.  Don't skip this one.  Full story inside.

Video - Today Show - Jan. 17, 2011

A Chase official tells NBC News that 4,000 U.S. service members may have been illegally overcharged on their mortgages and that as many as 14 military families were wrongly foreclosed on.


Source - MSNBC

The overcharges may never have come to light but for Rowles, 31, and his wife, Julia.

  • “It’s been a nightmare.  It’s been my living nightmare,” Julia Rowles said of her experience with Chase, in an interview with NBC News in Beaufort, S.C.

The saga began in 2006 when Rowles went on active duty. Under the SCRA, he could get his mortgage interest rate, which was adjustable and rising, lowered to 6 percent.

But Chase took a few months to lower Rowles' rate, overcharging the family, Rowles says, by as much as $900 a month.  In the fall of 2006, Chase finally began charging Rowles the correct 6 percent rate. For the next year or so, everything went relatively smoothly.

Then, two years ago, the Rowles family says, Chase began hitting them with collection calls that escalated to sometimes three a day, claiming they owed as much as $15,000.

  • "Saturday, Sundays, middle of the night.  It did not matter if it was a holiday," Julia said.  “Collection calls at 3 in the morning.  He would state, "I'm in California.   I'm stationed here in  Miramar.  It's 3 in the morning.  What are you doing calling me?"  "Well, sir, this is an attempt to collect a debt."

She said they threatened to take the house and report the family to a credit agency, even though the Rowles family didn't owe the bank anything and never missed a payment.

The Rowles' records show that while they kept making payments on their mortgage at 6 percent, the bank wrongly had been charging them at rates above 9 or 10 percent. They kept calling the bank to explain there had been a huge mistake but say no one would listen. They say they kept being harassed for money they did not owe.

Fed up, Capt. Rowles got a lawyer and sued Chase, for himself and other members of the military.

"They ought to only have to worry about fighting the fight and keeping alive, not about whether their wives and children and going to be put out on the street," said Dick Harpootlian, an attorney for the Rowles family.

The lawsuit is still pending. But a Chase official now tells NBC that Rowles did everything right, and the bank did a lot wrong. (The bank maintains, however, that it previously refunded the initial overcharges of the Rowles family. The couple disputes that.)

"We made mistakes here and we are fixing them," said Chase spokeswoman Lemkau.

"We now have a dedicated team in place devoted to servicing home loans for military personnel —the members of our military deserve nothing less. We welcome the opportunity to talk to Captain Rowles and others who would like to discuss their accounts," she added.


Statement from JP Morgan Chase about this NBC News investigation...




Start the slideshow...


Takes 2 Minutes - Don't Skip This One

You will see several examples of ACTUAL fraudulent documents that were submitted by large, well known banks in court proceedings.

We're talking over the top, ridiculous fraud here - Fake people, fake signers, fake documents, false notaries, and EVEN fake banks...




Spoiler ALERT -- Do not miss #7:



Have you seen these photos...

New Slideshow - From Time Magazine - See a pic of Bernanke at age 13, hair slicked back, playing the saxophone - These are VERY RARE photos



Check out this one...

Editor's Note - Fans of women's swimming might want to make sure to see pic #4...



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Reader Comments (7)

Jan 17, 2011 at 5:04 PM | Unregistered Commenterjohn
Shame the banks

Jan 17, 2011 at 10:53 PM | Unregistered Commenterjohn
Don't join the military, if you do then you fight for communist 'jews'.
Jan 18, 2011 at 8:22 PM | Unregistered CommenterDavid Crockett
dedicated and devoted....... coming from a BANK ? ..... IT'S A SICK JOKE.
Jan 18, 2011 at 10:01 PM | Unregistered Commenterdavid griffith
How many more stories like this do we need to hear? If this country doesn't close these fraudulent institutions and start from scratch, we will never survive or recover.
Jan 19, 2011 at 4:12 PM | Unregistered CommenterJackieo
"We made mistakes here and we are fixing them," said Chase spokeswoman Lemkau."

they were not mistakes, you got caught. Not much difference between these worms and Osama.
Jan 19, 2011 at 4:20 PM | Unregistered CommenterS. Gompers
JP Morgan realizes that members of the military are trained with weapons right lol?

This is going to be so ugly...
Jan 21, 2011 at 3:39 PM | Unregistered CommenterLili

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