JP Morgan Chase Bank submitted an application for order for foreclosure against Joseph (Tien) Tran, Giau Thi Nguyen and their Port Arthur home.
Chase did not issue the $85,000 promissory note but became the inheritor of the debt when it merged with Bank One, the bank's application stated, which was filed with the Jefferson County District Court on April 5.
The application says the couple agreed to the terms of the note on June 27, 2003 and dutifully made payments until Jan. 1, 2006.
"Payments are currently $765.42 per month, plus late charges. The unpaid principal balance due and owing to applicant on the note is $77, 604.65, plus interest. Additional fees include attorney fees in the amount of $650 and costs," the application stated.
Chase hired the law firm of Codilid & Stawiarski to collect the debt owed to it through the district court.
Court assignment is pending.
Case No. D179-072