JP Morgan Chase has just conceded to the largest settlement made with 1 entity in American history ! IN his public announcement, Attorney General Eric Holder says "Without a doubt, the conduct uncovered in this investigation helped sow the seeds of the mortgage meltdown," As part of the agreement, JPMorgan admitted to making "serious misrepresentations" to investors in mortgage-backed securities. This is clear to lend ammunition to many private lawsuits. Of the $13 Billion settlement,$4 billion of the settlement has been earmarked to help consumers. This total includes $2 billion to be used for principal reductions for borrowers, and $2 billion worth of other assistance.
As such JP Morgan Chase bought my mortgage in 2008, along with many other during this securities scam. Chase has made several inappropriate adjustments to my mortgage, that are clear violations in basic book keeping standards. These including accepting a cash settlement and then reversing it and not crediting it to my account. I have my ledger from Chase as evidence (Exhibit A). Though they kept the funds, and never gave my change, they are now pursuing a full foreclosure action the courts of Baltimore City. I am educated on a Doctoral level, married and a mother of two. Further more, I run a business from my home. The life of my entire family hang in the balance of this admittedly corrupt entity who now holds my mortgage.
I invite you to cover this story, as I am one the many common consumers who is being adversely affected by the admitted misrepresentations of this mega wealthy entity. JP Morgan has consistently built its wealth on the back of the common man and has no interest in the individuals that are harmed along the way. I highly encourage your coverage of this story as I am certain it will be relevant to many other consumers nationwide.