MUSINGS OF A SOUTHERN WOMAN

Saturday, November 14, 2009

Wednesday, November 11, 2009

Letter to Chase Home Loans and Board of Directors of JP Morgan Chase & Co. dated November 11, 2009

Wednesday, November 11, 2009
BY CERTIFIED US MAIL on November 12, 2009
Chase Home Finance
OH4-7164
3415 Vision Drive
Columbus, Ohio 43219-6009
1 800 836-5656
cc: JP Morgan Chase & Co. Board of Directors

To Whom It May Concern:

CHASE HELOC XXXXXXXXXXXX
Ø REQUEST FOR STATUS ADVISORY UPDATE ON THE APPLICATION FOR MODIFICATION
Ø PAYMENT ADVISORY PER TERMS OF THE TRIAL MODIFICATION AGREEMENT

With all due respect, Sirs and Madams, I am confused by your latest letter to me dated November 3, 2009, enclosed herein. I do not know what is going on with my Chase HELOC nor what to expect in the future as Chase has NEVER provided me with a written trial modification agreement nor a formal written notification relative to the status of my application for permanent modification of this HELOC.

On Tuesday, November 10, 2009, I received the attached letter from Chase Home Finance dated November 3, 2009, postmarked November 5, 2009, regarding an electronic transaction that I authorized by phone on 9/9/09 for payment to JP Morgan Chase Bank and your intent to deposit the draft on 11/8/09 in the amount of $XXX in accordance with the terms of an oral trial loan modification agreement between Chase Home Loans and myself regarding this HELOC.

To recap on or about September 9, 2009, I entered into an oral trial modification agreement with Chase Home Loans relative to this HELOC. Chase immediately withdrew funds from my Schwab checking account to bring the account “current.” October 8, 2009, Chase deducted a second electronic payment from my Schwab account per the oral trial modification agreement. Two days later on October 10, 2009, Chase Home Loan credit collections began making very aggressive telephone calls to me over a period of many days during which a woman named “Latoya” nastily informed me that I was behind on my payments, that my “time is running out”, and that my modification had been turned down. Let me emphasize that at that time I had made every trial modification payment in full compliance with the oral trial modification agreement entered into on or about September 9, 2009. To the best of my knowledge and understanding I was fully current on my HELOC and in full compliance with the terms of that trial modification agreement. To put an end to Chase’s devastating credit collection calls to my home and harassment, under duress I brought the account fully current (as if no agreement was in place) before November 1, 2009 even though I was current according to the terms of the trial modification agreement. Let me emphasize that NO PAYMENT whatsoever was required on November 8, 2009, due to the fact that I was fully current on the account.

If in fact you have turned down my application for permanent modification, no payments should have been withdrawn from my account because we no longer have a “trial modification agreement” in place and all terms to that agreement have become null and void. The fact that you have withdrawn funds from my checking account as established by our trial modification agreement legally implies that Chase Home Loans has converted the HELOC trial modification to a permanent modification.

I hereby request that Chase comply with the following:
(1) Credit my payment of $XXX that you collected from my Schwab account on November 8, 2009, to the next interest payment due on or about December 8, 2009. Do not credit that payment to the loan principal.
(2) Cancel any and all future automatic deductions from my checking account for payment on this HELOC account.
(3) Review my application for Modification of this HELOC.
(4) Grant me a permanent modification on this HELOC.
(5) Timely notify me in writing as to the status of my application for modification of this HELOC.
(6) Cease and desist all credit collection calls as my account is current.

I request that Chase Home Loans confer upon me a full forgiveness of the above HELOC in its entirety of approximately $XXX,XXX as the combined amounts of the first mortgage with WAMU and the Chase HELOC now total $XXX,XXX or more than the appraised value of my property.

Please be advised that the combined WAMU first mortgage and the Chase HELOC in second position total approximately $X,XXX,XXX. My first mortgage held by WAMU for approximately $X,XXX,XXX or more is under review for a permanent modification; I have fully complied with all terms of our written trial modification agreement. My home is worth approximately $X,XXX,XXX or less due to recent market conditions in my neighborhood and the devastating impact of the economy on the real estate market.

I am doing all that I can to save my home. I have done everything I know how to do to cooperate with Chase to establish payment terms that I can afford and will continue to do so. What, if anything, is Chase doing to cooperate with me in working out a fair and equitable agreement?

Sincerely,
Brenda Helen Reed
Shareholder & Customer

Enclosure

Thursday, November 5, 2009

Letter to James Dimon, Chairman of JP Morgan Chase & Co.

Wednesday, November 04, 2009
COPY: MEMBERS OF THE BOARD OF DIRECTORS by Registered US Mail
BY FEDERAL EXPRESS

Mr. James Dimon
Chairman & Chief Executive Officer
JP Morgan Chase & Co.
Office of the Secretary
270 Park Avenue, 38th Floor
New York, New York 10017

Dear Mr. Dimon:

In response to my shareholder/customer letter to you of October 27, 2009 addressing twenty-six concerns with Chase, I received a telephone call today at 9:22 A.M. PST from a young woman identifying herself as Ms. Kathleen Klawunder, a Chase Card Member Advocate calling from 888 622-7547 x7076. I was initially cautiously pleased that you had reached out to me. My optimism was short lived. To say that I am disappointed in her response to my issues is an understatement. Her attitude and behavior stands as an insult to both you and me.

After a nineteen minute conversation with Ms. Klawunder, I feel that your response to my letter was to do nothing more than to sic a higher level collection agent on me. She failed to address my concerns. Her goal was to review my credit card debt, collect the debt, and only that.

This call did not go well at all for many reasons. My phone reception was bad. I did not have my files in front of me. Ms. Klawunder was rude and highly aggressive in both tone and attitude, unwilling to listen or respond professionally. Early in the call due to the bad connection, I asked her to spell your name for me. She flippantly responded “well you ought to know, you sent the letter: This set a negative stage for the rest of our conversation, never mind that this was the fifth or sixth collection call I had received within ninety minutes. She lacks the most basic skill of customer service –the art of listening. She certainly is not my advocate; she is yours. She interrupted me many times when I tried to express my concerns as a customer and as your shareholder. She had one goal which was to collect money from me. She offered to review my credit cards yet she could not pull up both accounts. Frankly her title is mere window dressing because she is certainly not my advocate. After nineteen minutes I became frustrated and was literally shaking and ended the call.

To be crystalline clear with you, I do not have $xx,xxx to pay off my credit card debt with Chase. I do not have $x,xxx,xxx to pay off my first mortgage and my HELOC. If I had the money, believe me I would pay you off entirely and never do business with you again. What money I have left is being used to save my home. I fell prey to a predatory loan agent and the corresponding WAMU and Chase bank officers when the two loans were originated. Only recently did I realize that the loan agent lied on my application about my income and both WAMU and Chase banks never questioned that income and gave me the loans. WAMU and Chase are equally complicit in this situation yet to date you are offering me no help, no remedy. As of October 2009 my home is “under water” with the appraised value dropping from $2,100,000 to $1,200,000 in ten months time, with a balance owing of $1,447,000. Sir, you can do the math and see for yourself that unless Chase helps me you are going to have another house on your hands. I will not go quietly into the night. I will utilize every legal means and media outlet available to me to save my home.

On November 2, 2009, by email, Sondra Edwards, home loan modification officer at Chase in Oakland, California, casually informed me that the modification of my HELOC was rejected on October 10, 2009, two days after I made my final trial modification payment. To date Chase has not seen fit to send me a letter of notification about this situation. I am still waiting for word on the modification of my WAMU first mortgage, having fully complied with every payment and every request for documents during the trial modification period which went through November 1, 2009.

I am deeply worried that while you are eating Christmas dinner in your expensive mansion that I will be living on the streets. This is not what my husband , Captain James Eddie Reed, fought and died for while serving as an Infantry Company Commander in the United States Army in which time he earned the Silver Star, 2 Purple Hearts, 2 Bronze Stars with V devices and oak leaf clusters, an Army Commendation Medal with V Device, an Air Medal, and other awards for his unselfish, meritorious service. He always did the right thing. I have always done the right thing. I want to do the right thing now.

I ask that you and your employees and representatives give me a fair shake and treat me with respect and dignity at all times. I may have financial issues, sir, but I am a decent human being with a life and a family. I contribute every day in some way to helping others in my community. I work as a mediator to bring peace and harmony to peoples’ lives. Please respect that and allow me my dignity. Respect and value me as your customer and stockholder.

No matter what comes of this, with all due respect, Sir, JP Morgan Chase has a bigger problem with its corporate image that you can imagine. Every day somewhere someone new tells me about the malevolent ways in which Chase has treated him or her. By writing to you about my concerns, I am giving you a gift – the opportunity to clean up your public image and Mafioso goon squad tactics in dealing with your customers – and thus also your shareholders.

You and JP Morgan Chase & Co. could stop feeding your greed and deal fairly, equitably, and respectfully with each of your shareholders and customers. You could lead the banking industry by example, setting a new tone, a conciliatory tone of helpfulness and genuine concern. You could be a better bank, a better everything.

You could be a better man, a better Chairman and CEO. You could be a better company. The question is will you. I challenge you to take the high road.

Sincerely,
Brenda Helen Reed
Stockholder & Customer

Tuesday, October 27, 2009

My Letter to the Board of Directors at JP Morgan Chase Bank

Today out of frustration I purchased two shares of JP Morgan Chase stock and sent the following letter to the Board of Directors. You may find it of interest.

October 27, 2009

BY CERTIFIED US MAIL
JP Morgan Chase & Co.
Attention: MEMBERS OF THE BOARD OF DIRECTORS
Office of the Secretary
270 Park Avenue, 38th Floor
New York, New York 10017

Dear Members of the Board:

As a JP Morgan Chase stockholder and as a customer of Chase and WAMU, I am writing to you to bring to your attention numerous unfair, immoral and unethical business practices and policies, possibly even fraudulent practices, within Chase Bank and WAMU regarding home loan customers and credit card holders.

Customer care, good will, and trust have become nonexistent between Chase and your home loan and credit card customers. You run rough shod over your customers in ways that exhibit evil, avarice and greed beyond compare. You are an organization without any morals or ethics – an organization that demonstrates no “customer care” whatsoever. You are hurting people in ways you cannot imagine and thus hurting your investors and damaging Chase’s own future. You are not dealing in good faith with your customers.

I am a sixty-three year old Vietnam War widow, mother and grandmother. I work as a mediator and own a small bed and breakfast business. I have worked hard all my life. I have always done my best to meet my every financial obligation in a moral and ethical manner. I have been a long time customer of Chase bank as a home owner having a WAMU first and a Chase HELOC, and as a credit card holder. Like the majority of Americans – and the majority of your customers – my finances have been deeply impacted by the economy. I am struggling with my mortgages with Chase and WAMU and credit card debt. Up until a few months ago I had NEVER been late on a payment nor had I ever missed a payment. I had truly been a good paying customer of Chase and WAMU. Unfortunately the recession has deeply impacted my life and I am trying to save the home I have owned for thirty-seven years. I have tried my best to work out something with Chase. I am now at my wits end – as are countless other customers of your bank due to the banks unfair and immoral policies and practices.

Chase has and continues to generate bad will towards you customers through the following policies, procedures, and behavior:
WAMU and Chase Home Equity Lines of Credit (HELOC) teams make repetitious, redundant requests for documents, often within a few days of one another, for modification of first mortgages and/or HELOCs. (I.e. I have provided the same set of documents four times within one month.)
WAMU leads customers to believe that Notices of Default will be rescinded when the customer enters into a “trial modification agreement” with the bank and then never files the rescinded documents with the County Recorder.
WAMU does not provide customers with updated statements after receiving payments according to the terms of their trial modification agreements.
Customer must send payments by Federal Express and certified check during the trial agreement even though customer has never given a bad check to the bank at any time.
Unfair and unbalanced methods in filing Notice of Defaults on your customers’ homes. [For example I missed three payments and you filed a NOD on me, when other bank customers have missed twelve or more payments and no NOD has been filed against their property.] There seems to be neither rhyme nor reason, leaving one to believe that perhaps some bank officer wants the customer’s home for himself or herself as happened with a well-publicized case involving Wells Fargo Bank.
Threatening customers with imminent foreclosure sales when requesting updated documents for home loan modifications -- implying a date for a foreclosure sale has been established when it has not in fact been set and when a trial modification agreement is in force – and even when the customer has fully complied with every payment as agreed and every document request. Or implying that the trial modification is in danger.
WAMU and Chase utilize blanket form letters to request documents that may or may not have any bearing on a customer’s individual situation.
Unfairly jacking up credit card interest rates to 29.9% without due cause just because you could do so – thus forcing customers into default, late payments, or bankruptcy.
The HELOC home loan representatives negotiate oral trial modification agreements with customers then never provide customers with a written trial modification agreement, thus rendering the customer’s understanding of the agreement null and void. The customer has no proof of the terms to which he/she agreed, thus rendering the trial agreement unenforceable. This is probably fraudulent behavior.
Unclear terms (oral terms) on HELOC trial modifications – not dealing in good faith with your customers.
HELOC collection calls made on a daily basis to the customer even though the customer has made payments in accordance with the so-called (oral) trial modification agreement.
HELOC collections personnel have no knowledge that a customer has a trial modification agreement in place.
Failure of the HELOC team to notify your customer in writing or otherwise if the application for modification is declined.
HELOC team declaring that a person is not paying as agreed after they enter into a trial modification agreement with customer and customer fully complies as agreed.
HELOC collecting people making threatening calls to customers during the period of the trial modification.
Continuing harassing collection calls from credit collections beginning at 8 o’clock in the morning up until 9 o’clock at night, seven days a week, numerous calls all day long.
Chase HELOC collections call customers even when trial modifications are in place and all terms have been met to date.
Collection representatives (foreigners and Americans) who lack proficiency in the English language and have no ability or desire to resolve any issue, who follow a script, and who deal in an antagonistic fashion with customers.
Collections representatives who are from India, Pakistan, Mexico, and other third world nations. They cannot be understood. They cannot answer questions. They cannot negotiate. They speak to customers like we are animals, showing no respect nor “customer care.”
Rudeness and mean-spirited behavior by your collection representatives.
Collection agents who refuse to provide customers with their name and identifying employee number or information, as required by law.
Collections agents who refuse to give out even the most basic account information such as the account number, balance, interest rate, or payment requested – as often as six times in one call.
Collection agents who use abusive tones of voice and language with customers.
Collection agents who demonstrate racist behavior towards Caucasian customers speaking to them in a surly and disrespectful manner.
Collection agents who are uneducated and cannot negotiate or reason on any level.
Collection calls that are meant purely to harass your customer.

On a personal note let me share with you my situation. In July 2009 I made an appointment to come into a Chase Home Modification Center in Oakland, California, to present my application for loan modifications on my WAMU first mortgage of $1,247,000 and my Chase HELOC of $198,000. The bank officer did not note the appointment or our conversation in my file so Chase immediately moved to begin foreclosure proceedings on my property (a home I purchased with my late husband’s Veterans benefits and that I have owned since 1972). This caused and continues to cause me unbelievable stress. I obtained a trial modification with WAMU and have complied with every request and every payment as agreed; and I obtained a trial modification with Chase on the HELOC and again complied with every request and every document as agreed. I have given up trying to deal with Chase on my credit card issues. I still do not have a permanent modification in place on either the WAMU first or my Chase HELOC.

I have been subjected to non-stop, daily credit collections call on my HELOC, even though I have complied with every payment. When I have called Chase HELOC customer care, my calls have been set into the ethers. I finally used money reserved to pay my medical bills to bring the HELOC current though according to the trial modification agreement it was current. I have been treated with utter scorn, disdain, and disrespect even though I have done my very best to cooperate with Chase and to make my trial payments as agreed. I feel utterly harassed by Chase Bank and your collection people; so much that I sent a “cease and desist” letter to HELOC collections.

Chase’s policy of harassment and besieging the customers is not helping Chase Bank. It is not helping your customers meet their obligations. It does not engender good will or make for good “customer care.” If your customers could pay, they would. No one wants to be subjected to the hell that you are raining down on your customers.

May God forgive you for the evil you are perpetrating on your investors and your credit customers.

May God provide a way for me and your other countless customers to be free of your unethical policies and practices and for us to be able to retain our homes and peace of mind.

Sincerely,

Brenda H. Reed

cc: President Barack Obama, Senators Feinstein, Boxer, & Frank, Rep. Barbara Lee, The New York Times

Thursday, August 13, 2009

City of Oakland Waives 2002-2009 Transient Taxes for B&Bs

Today some good news came from the City of Oakland.

Revenue Manager, Terry Adelman, and several colleagues to include Philip Lim and Keith Prior, met with three Oakland B&B owners to discuss the issue of transient taxes on B&Bs in the city. I wasn't present at the meeting but did have a telephone conversation with Mr. Lim about the outcome of the meeting.

Mr. Adelman rendered a decision as to transient guest taxes for B&Bs for 2009 and back taxes to 2002. The City of Oakland has agreed to waive all back taxes (which could only be collected for three years into the past, not seven) for 2002 through 2009. However effective January 1, 2010, B&B owners will be required to collect a 14% transient guest tax from our guests and submit those taxes to the City on a monthly basis. Any changes to the situation in the future will have to be made by the Oakland City Council. Mr. Lim stated that the City's intention was to update our records and enforce the City ordinances as written, not to be punitive.

What is now required is that all the B&B owners in Oakland must contact their Councilmembers and lobby for an exemption to the transient taxes for B&Bs. The bases for such an exemption includes hardship and unfair competition with neighboring Berkeley B&Bs.

As to hardship a 14% surcharge on top of our usual rates will drive guests away. As it is most B&Bs in Oakland turn a marginal profit so taking 14% of our gross would be economically painful to say the least. Our guests would migrate to Berkeley which does not impose a transient guest tax on B&Bs. Charging Oakland B&Bs this 14% tax would create unfair competition in favor of Berkeley.

The B&Bs in Oakland provide a great service to the community. We provide convenient, economical accommodations to guests right in the neighborhoods where they may be visiting with family and friends. We refer our guests to cafes, restaurants, theaters, shops, and other businesses and sources of entertainment in the community. We present a warm and welcoming face to guests from all over the world. We promote the City of Oakland.

Imposing a 14% surtax (transient tax) on our guests does not generate good will. Help us to retain our guests, our livelihoods, our business, our homes. Contact members of the Oakland City Council and ask them to give us their support.

Thanks a million!

Wednesday, August 12, 2009

CITY OF OAKLAND vs. BED & BREAKFAST OWNERS

Just when I didn't think things could get worse . . . they have.

I own and operate a very small B&B called Acacia House in Oakland, California. I opened my business in December 2002. I have two suites, one small and one large. In Oakland we don't have B&B licenses so we have a special transient license issued by the City that allows us to have temporary lodging for 1 to 4 paying guests at any one time. In return we pay a percentage of our receipts on an annual basis for a business tax and do this usually in January of each year.

On Friday, August 7th, 2009 a City of Oakland employee telephoned to state that all B&B owners must now pay a special "Hotel guest tax" of 11% of the gross receipts and must be collected from the guest. This tax will increase to 14% in September. In addition the City of Oakland wants every B&B owner to pay this tax retroactive to the year 2002. Their reason is that somehow, some way, the City of Oakland "misclassified" our businesses for business tax purposes and now we the small business owners must pay for the mistake of some bureaucrats who have been mismanaging our city for years.

To tax the 4 or 5 business owners who have B&Bs in Oakland in such a way will more than likely put us out of business and render us noncompetitive with the B&Bs in neighboring Berkeley. Most of us operate on a very narrow profit margin. 11% of our gross for 7 years would take all our profits in their entirety for the year 2009 and what little we might have earned in the year 2008.

This comes on top of the fact that Oakland has just increased the hours for metered street parking and requires citizens to feed their parking meters until 8 o'clock at night. Parking violation fines have been increased to $55 a ticket.

All the while the City of Oakland has not policed itself and gotten rid of unnecessary expenditures, unnecessary people and positions. Our do-nothing mayor, former Congressman Ronald V. Dellums, gave himself a pay raise and put his wife, Cynthia Dellums, on the city's payroll. Mrs. Cynthia Dellums acts as a gate keeper for the Mayor and keeps everyone away from him that should NOT be kept from him. We didn't elect Cynthia Dellums --- and yet she is running our city and collecting a big paycheck for herself at the expense of citizens in the City of Oakland. To learn more about Mrs. Dellums unwarranted roll in Oakland government go to:
http://www.eastbayexpress.com/news/robert_bobb_was_worried_about_cynthia_dellums/Content?oid=917973

Where is the fairness in all this? How can the City of Oakland justify laying siege to the small business owners in Oakland and not clean its own house?

I say that every citizen in Oakland should stand up to the bureaucrats and put an end to the rampant bad acts being perpetrated upon us. I say that Mayor Ronald V. Dellums should resign his post immediately and take his wife, Cynthia, with him.

The citizens of Oakland deserve better than we are getting! We must demand better.

CONTACT YOUR REPRESENTATIVES IN OAKLAND. HELP THE BED AND BREAKFAST OWNERS OF OAKLAND SAVE OUR BUSINESSES.

Tuesday, June 9, 2009

Support HR2243 The Surviving Spouses Benefit Improvement Act of 2009

On May 5, 2009 US Representative Buyer and US Representative Walz introduced HR 2243 with 25 original co-sponsors. This bill will increase the amount of Death Indemnity Compensation (DIC widow's benefits) that surviving spouses of America's war dead and veterans receive. The bill will increase the DIC from 41% to 55% of the amount of VA Compensation a 100 percent disabled veteran receives or about $300 per month.

Please contact your Representative and ask him/her to co-sponsor and support this important legislation. Call (202) 224-3121 and ask the operator to connect you to your Representative's office or go to http://clerk.house.gov/ and contact your Representative by email or webmail.

Thank you kindly.

MUSINGS OF A SOUTHERN WOMAN

Saturday, November 14, 2009

More Problems with Chase Home Loans & WAMU

Wednesday, November 11, 2009

Letter to Chase Home Loans and Board of Directors of JP Morgan Chase & Co. dated November 11, 2009

Thursday, November 5, 2009

Letter to James Dimon, Chairman of JP Morgan Chase & Co.

Tuesday, October 27, 2009

My Letter to the Board of Directors at JP Morgan Chase Bank

Thursday, August 13, 2009

City of Oakland Waives 2002-2009 Transient Taxes for B&Bs

Wednesday, August 12, 2009

CITY OF OAKLAND vs. BED & BREAKFAST OWNERS

Tuesday, June 9, 2009

Support HR2243 The Surviving Spouses Benefit Improvement Act of 2009

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MUSINGS OF A SOUTHERN WOMAN

Saturday, November 14, 2009

More Problems with Chase Home Loans & WAMU

Wednesday, November 11, 2009

Letter to Chase Home Loans and Board of Directors of JP Morgan Chase & Co. dated November 11, 2009

Thursday, November 5, 2009

Letter to James Dimon, Chairman of JP Morgan Chase & Co.

Tuesday, October 27, 2009

My Letter to the Board of Directors at JP Morgan Chase Bank

Thursday, August 13, 2009

City of Oakland Waives 2002-2009 Transient Taxes for B&Bs

Wednesday, August 12, 2009

CITY OF OAKLAND vs. BED & BREAKFAST OWNERS

Tuesday, June 9, 2009

Support HR2243 The Surviving Spouses Benefit Improvement Act of 2009

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