(LegalLaw247.com, January 21, 2012 ) New York, NY Class Action.org is alerting consumers to a pending class action lawsuit alleging that JPMorgan Chase Bank, N.A. and Chase Home Finance, LLC improperly set interest rates charged to California borrowers entering into adjustable rate mortgages (ARMs) with the banks. The Chase ARM class action only covers California residents; however, legal recourse may still be available to borrowers in other states who were charged interest rates which were higher than the rates outlined in their adjustable rate mortgage documents. If you obtained an adjustable rate mortgage from JP Morgan Chase Bank or Chase Home Finance prior to April 2006, you may be able to file a claim seeking compensation for costs associated with an allegedly excessive interest rate. To find out if you are eligible, visit http://www.classaction.org/chase-adjustable-rate-mortgage-lawsuit--1-55245.html for a free evaluation of your claim.
The claims posed by the JP Morgan Chase mortgage lawsuit stem from mortgage notes and disclosure forms provided by the lender in connection with the adjustable rate mortgages. In the documents, borrowers were allegedly informed that their initial interest rate would be the sum of a specified index plus a set margin, or possibly a rate less than this. However, the Chase mortgage lawsuit claims, the bank charged the borrowers an initial interest rate which exceeded the sum of the index and margin notwithstanding these statements.
In light of these allegations, Class Action.org would like to hear from consumers in any state who entered into an adjustable rate mortgage with JPMorgan Chase Bank or Chase Home Finance prior to April 2006 to determine if legal recourse is available. Potentially, these individuals may be able to participate in a Chase ARM class action to seek compensation for damages. To learn more about the pending Chase ARM class action and to receive a free evaluation of your claim, visit Class Action.org today.
About Class Action.org
Class Action.org is dedicated to protecting consumers and investors in class actions and complex litigation throughout the United States. Class Action.org keeps consumers informed about product alerts, recalls, and emerging litigation and helps them take action against the manufacturers of defective products, drugs, and medical devices. Information about consumer fraud issues and environmental hazards is also available on the site. Visit http://www.classaction.org today for a no cost, no obligation case evaluation and information about your consumer rights.
ClassAction.org
Tara Nagel
800-449-1970
pressrelease@lawyercentral.com
Source: EmailWire.Com
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