(PRWEB) July 27, 2009 -- The National Mortgage Complaint Center is expanding its national, and state by state investigation of WA MU/Chase, and other major national US banks that have dramatically cut the home equity lines of credit of homeowners, who had at least 50% equity in their home, and perfect, or near perfect credit. A national class action has been filed on this issue (Michell Kimball, et al. v Washington Mutual Bank, Henderson Nevada, and JP Morgan Chase Bank, N.A., et al, 09-CV-1261 (S.D. Cal.)) The National Mortgage Complaint Center is saying, "reducing, or eliminating a homeowners home equity line of credit has hurt tens of thousands of US homeowners for no good reason. It is also an insult to the US taxpayer, who bailed out many of these banks, so they would start lending again." If a homeowner has been damaged by these practices the National Mortgage Complaint Center wants to hear from the homeowner immediately at 866-714-6466, or contact the group via its web site at http://NationalMortgageComplaintCenter.com
The National Mortgage Complaint Center is saying, "in the instance of reducing a homeowners line of credit on their home, we are talking about homeowners who had at least 50% equity in their homes, we are talking about homeowners, who always made their mortgage payments on time, and we are talking about homeowners, with near perfect credit."
So Who Was Damaged By The Practice Of Eliminating Or Reducing A Homeowners Home Equity Line Of Credit?
* Small business people
* Entrepreneurs
* Families who were counting on the home equity line of credit for college tuition
* Families who were going to use the home equity line of credit for medical bills
* Families who were going to use the home equity line of credit money for a home improvement project
Important Note: If a homeowner has more than 50% equity in their home, they have always made their mortgage payments on time, they have excellent credit, and WA MU/Chase, or any other major US bank reduced their line of credit, the National Mortgage Complaint Center wants to hear from them immediately at 866-714-6466, or contact the group at http://NationalMortgageComplaintCenter.com.
"If you have a friend, a business colleague, or a family member, who has had their home equity line of credit striped, or diminished by any US bank, for no good reason, please share this press release with them. Again the group wants to talk with homeowners, who have excellent credit, over 50% equity in their home, who always made their mortgage payment on time, and for no reason their bank cut their home equity line of credit. Victims of this ridiculous practice should contact the National Mortgage Complaint Center at 866-714-6466", or contact the group via its web site at http://NationalMortgageComplaintCenter.com
The National Mortgage Complaint Center is Americas premier advocacy group when it comes to being a mortgage industry watchdog.
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