J.P. Morgan Chase Bank has filed suit against the unknown heirs of a deceased woman, alleging the heirs failed to make payments on a promissory note after her death.
According to the complaint filed in Jefferson County District Court, Azzie Lee McClatchy executed a promissory note with Chase on Nov. 19, 2004, for $20,000 with interest at 6.85 percent. Monthly installments were to begin on Jan. 1, 2005, and to continue until May 1, 2008.
Along with the execution of the note, McClatchy executed a homestead lien contract and deed of trust on the property that conveyed McClatchy's property as the security, according to the complaint.
McClatchy died Jan. 31, 2008. The suit states it appears that no probate proceeding has been opened.
"The total amount of the debt as of the date of this petition consists of $14,705.21, which represents the unpaid principal balance in addition to other charges due and owing."
J.P. Morgan is seeking an order directing the sale of the property or foreclosure on the property.
Full Article and Source:
Bank seeks to collect on note from deceased woman's estate
According to the complaint filed in Jefferson County District Court, Azzie Lee McClatchy executed a promissory note with Chase on Nov. 19, 2004, for $20,000 with interest at 6.85 percent. Monthly installments were to begin on Jan. 1, 2005, and to continue until May 1, 2008.
Along with the execution of the note, McClatchy executed a homestead lien contract and deed of trust on the property that conveyed McClatchy's property as the security, according to the complaint.
McClatchy died Jan. 31, 2008. The suit states it appears that no probate proceeding has been opened.
"The total amount of the debt as of the date of this petition consists of $14,705.21, which represents the unpaid principal balance in addition to other charges due and owing."
J.P. Morgan is seeking an order directing the sale of the property or foreclosure on the property.
Full Article and Source:
Bank seeks to collect on note from deceased woman's estate
They just keep coming.
ReplyDeleteChase is MY bank! I am not pleased with what I am reading here.
ReplyDeleteForce the sale or foreclose on a house to collect $14,705.21?
Isn't that OVERKILL?