Ohio Judge Follows JPMorgan’s Advice And They Promptly Throw Him Into Foreclosure

(THE DAILY BAIL)   It’s the loan modification bait and switch…

  • “We won’t consider your case if you’re current on your mortgage.”
  • “Now that you are behind on your payment, we have denied your modification, and have started foreclosure.”
  • Thank you for banking with JP Morgan Chase.”

What’s shocking, well maybe not so much for Jamie Dimon’s operation, is that they did this to a judge.

Even more shocking?  That Bank of America didn’t do it first.

Ohio Judge Follows JPMorgan’s Advice, Ends up in Foreclosure

Source – Cleveland Plain Dealer

Source – ML Implode

Ohio Judge Peter Sikora was looking to take advantage of the lowest mortgage interest rates in decades and refinance his eight-bedroom, lakefront Cleveland home, so he contacted his bank, JPMorgan Chase.  With property values in decline in Cleveland, Chase said no to refinancing but told the judge to apply for a loan modification instead.  The judge followed JPMorgan Chase’s advice to the letter and as a result has fallen a year behind on his nearly $1 million mortgage… hasn’t paid his property taxes… and now has ended up in foreclosure.

  • “The bank advised me that the only way they would consider a loan modification would be if I fell behind on my payments,” said Sikora, 59, a judge since 1989. “I took their advice and put the money aside.”

Sikora said he was surprised when, in June, during the middle of negotiations, JP Morgan Chase filed the foreclosure lawsuit against him seeking $999,000, including $6,400 in unpaid property taxes.

“It’s unfortunate that it’s gotten to this situation,” Sikora said. “I’ve been talking with them for more than a year, but the bank hasn’t been responsive.”

The attorney for JP Morgan Chase did not return a phone call.


8 Responses to Ohio Judge Follows JPMorgan’s Advice And They Promptly Throw Him Into Foreclosure

  • Maybe this judge will show a tad more mercy for us regular folks now?

  • The judge is just as much a “regular folk” as anyone else.
    There is no one on this planet who can be considered above or better than you.

  • Sure Carol, nobody except policemen, judges, and members of congress that are considered above the law by their peers. What world do you live in?

  • The interesting thing is, that a judge earns enough to afford a million dollar home on the Lakefront. This is what happens to judges, and regular folk, when you don’t prosecute the banking criminals, and give them bailout money instead. Same old financial hoodlums are running the show, stealing our homes, and devaluing our savings.

  • If this man being (1) 59 and (2) a judge, still does not know what happens when you don’t pay your debt and what happens when you don’t pay property taxes, then maybe he indeed does not deserve to live in a million dollar eight-bedrooms house. Throwing the morons from palaces to under the bridge is only fair.

  • I hope that he took filenotes of the conversation. What’s the go with US banks. Where are the default notices.

    Congress makes laws. Why doesn’t it just pass legislation that closes these insane loopholes that allow the banks to act in this way?

    But I guess we all know the reality. The banks give kickbacks to a lot of pollies. So they gave the kickbacks back when the banks got to greedy. So they know there is a big pay off if they give the banks a chance to screw a few more people.

  • That’s how it is when dealing with the banks. All trick, and no treat!

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