The nation’s second largest bank is in the hot-seat this Martin Luther King holiday, as the bank has admitted that they may have wrongly charged nearly 4,000 troops on the mortgage payments. On top of unjustified strain, this may have also lead to 14 wrongly foreclosed homes.

The first words that pop-up when you visit the Chase Military website are, “Your commitment is to our country. Our commitment is to you.” Marine Capt. Jonathan Rowles does not see it this way. Rowels, a backseat pilot of an F/A 18 Delta fighter jet, says he has been fighting Chase for the past five years over his family’s mortgage payment.

Chase Bank Reevaluates Their System

This is not the first time Chase has had to double back due to faulty paperwork. After all, the foreclosure crisis was sparked due to “robo-signing” or the act of approving paperwork without evaluation. According to reports on NBC’s Today Show, it is Rowels’ lawsuit that triggered the bank to evaluate the rest of their filing systems.

Military Families Seek Restitution

Chase’s mistake came when the bank failed to follow the Servicemembers Civil Relief Act (SCRA). The SCRA protects families with active-duty troops by allowing for lowered interest rates, and protection from evictions. Chase’s failure to follow the provisions under the SCRA is what lead to the overcharges.

Chase chief communications officer Kristin Lemkau, told TODAY that the bank plans on mailing around $2 million worth of refunds to the families that have been overcharged. She also promised the 14 families that have lost their homes will get them back if they have not already.

All though the Rowels lawsuit is still pending, experts say that they have done everything right while the bank failed to do so.

Video from the TODAY Show

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  • Anonymous

    I’ve dealt with 123 mortgage refi on two refis now, and in each case it was about as painless as anything that involves paperwork by the acre can possibly be. I would heartily recommend his services without reservation for those thinking of refi.

  • wmwm

    I for one would like to post my comment. I don’t think any family should loose there home due to unforeseeable circumstances such as loss of job, sickness, or job cut, or pay cut with no responsibility in action taking place. I think it is a disgrace when people who have gave there whole life into a home and loose it to something they have no control. We live in America. I’m also not talking about people living in mansions, or homes that are designed. I’m talking about people who live in normal every day housing that work each day for the roof over there heads. I’m also not talking about people who neglect payments, or cannot manage. I’m talking about honest working families who have lost everything in this economy due to things they have no control. It’s sad people, it’s really sad. Shame on any bank that can step up and pull the dream of people who have served our country, or anyone else for that matter.
    There should be laws protecting all of us from loosing our homes.

  • Thomas Jefferson

    Act as a Patriot and refuse checks written on Chase Banks. Refuse to support Met Life and Prudential who steal benefits from wives and children of dead servicemen. Enough

  • Sabore98

    these banks actually get away with all thgis kind of crap, and have no