Apparently some banks actually want you to default so that they can foreclose your house….
They paid the taxes on another house with a vaguely similar address (but much higher tax rate)and sent me a new payment book with my monthly amount roughly doubled to make up for the mysterious increase in tax payments. After the problem was identified, they promised to fix it, but never did, despite repeated calls from myself. Letters went unanswered.
Next thing I know, the tax people in my town are telling me that my taxes haven t been paid and my property is delinquent. After that, Chase labels my account as past due and begins to assess late fees and threaten foreclosure. I call Chase and am automatically routed to collection people who do nothing but scream abusively at me to pay my bill.
Virtually no attorney will touch the case because they all want to keep getting business from a large financial corporation. Out of desperation, I finally contact the New York Banking Commission. Over the course of months, Chase – very, very grudgingly – corrects most of their errors. They never stop being nasty, and begin to imply that they might sue me anytime I refuse to accept their initial offer.
This process took approximately four years to complete. I eventually was forced to default on the property for a number of reasons, some of which were unrelated to Chase. At this point, I discovered that they actually WANT you to default on FHA insured properties, apparently because they make out rather well, or so my realtor claims. In any case, it was the first time they were actually very pleasant and cheerful on the phone. Go figure.