Chase bank is being sued for a foreclosure, but not in the way many would expect. A wrongful death suit has been filed against the bank after a man had cardiac arrest after foreclosure. The suit contends Chase caused the death of Harry Engel by heart attack in 2010.
Family blames bank for heart attack
Seventy-nine year old Harry Engel's family told the news that they had lived in the same house for 22 years. Then, Chase bank forced them out in foreclosure proceedings. Shortly thereafter, in July 2010, he suffered a heart attack, according to KHOU. His family blames the bank for his condition.
The Engel family lived on a fixed income and had heard about a refinancing program that would lower their rate. They talked to a banker at their local Chase branch, who told them in order to qualify for the refinancing program through the Department of the Treasury, ostensibly the Making Home Affordable Program, they had to first miss a payment, which they did.
The bank started to send late charges and updates, and he got a notice of foreclosure. Then, he got a notice of eviction and had the heart attack. Evidently the bank started the program and cancelled their enrollment in it.
Widow sues
His wife, Wando Jo Engel, is suing Chase, according to the Huffington Post, in a wrongful death lawsuit. The Engel family was among a number of people who had been given similar instructions. They were told to miss at least one payment to qualify for a troubled mortgage refinance, only to fall into foreclosure after the bank chose to not follow through. Chase hadn't submitted foreclosure proceedings yet, but was in the early phases.
Earlier this year, five of the largest mortgage lenders in the country settled with the government for $25 billion due to "robosigning" and other inappropriate practices, according to the Los Angeles Times. Part of it was "servicer-led foreclosure," which was what this is called and was talked about in 2010 in a Senate Banking Committee, according to the Washington Post.
The Huffington Post explained that a servicer-led foreclosure went wrong this year at Bank of America too. Pamela Flores in GA was told the same thing from Bank of America just to have the modification not work out and foreclosure to follow, according to the Huffington Post. The Engel family is not alone.
Causes emotional stress
In 2008, the first instances of "foreclosures suicides" were noticed, according to USA Today. Homeowners who were having issues with their loans started calling suicide hotlines regularly, and they led to suicides. The mental stress is too much for many people to take. This year, there was a murder-suicide in Ohio and March as a result of foreclosure and there have been two suicides recorded this year.
Family blames bank for heart attack
Seventy-nine year old Harry Engel's family told the news that they had lived in the same house for 22 years. Then, Chase bank forced them out in foreclosure proceedings. Shortly thereafter, in July 2010, he suffered a heart attack, according to KHOU. His family blames the bank for his condition.
The Engel family lived on a fixed income and had heard about a refinancing program that would lower their rate. They talked to a banker at their local Chase branch, who told them in order to qualify for the refinancing program through the Department of the Treasury, ostensibly the Making Home Affordable Program, they had to first miss a payment, which they did.
The bank started to send late charges and updates, and he got a notice of foreclosure. Then, he got a notice of eviction and had the heart attack. Evidently the bank started the program and cancelled their enrollment in it.
Widow sues
His wife, Wando Jo Engel, is suing Chase, according to the Huffington Post, in a wrongful death lawsuit. The Engel family was among a number of people who had been given similar instructions. They were told to miss at least one payment to qualify for a troubled mortgage refinance, only to fall into foreclosure after the bank chose to not follow through. Chase hadn't submitted foreclosure proceedings yet, but was in the early phases.
Earlier this year, five of the largest mortgage lenders in the country settled with the government for $25 billion due to "robosigning" and other inappropriate practices, according to the Los Angeles Times. Part of it was "servicer-led foreclosure," which was what this is called and was talked about in 2010 in a Senate Banking Committee, according to the Washington Post.
The Huffington Post explained that a servicer-led foreclosure went wrong this year at Bank of America too. Pamela Flores in GA was told the same thing from Bank of America just to have the modification not work out and foreclosure to follow, according to the Huffington Post. The Engel family is not alone.
Causes emotional stress
In 2008, the first instances of "foreclosures suicides" were noticed, according to USA Today. Homeowners who were having issues with their loans started calling suicide hotlines regularly, and they led to suicides. The mental stress is too much for many people to take. This year, there was a murder-suicide in Ohio and March as a result of foreclosure and there have been two suicides recorded this year.
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