A Jefferson County couple has filed suit against their bank after they allege it continually increased the amount of money owed on their mortgage.
Dawn and Reginald Savoie claim they bought a property, and JP Morgan Chase Bank provided them the loan to buy the home.
However, throughout the life of the Savoies’ loan, JP Morgan Chase Bank continued to increase the amount of principal owed to the bank, according to the complaint filed Jan. 11 in Jefferson County District Court.
“Bank has represented that Savoies’ mortgage/principal balance on their note increased by $118,637.84 in the matter of seven months,” the suit states. “These amounts are not supported by the Bank’s documents.”
Although the Savoies claim they are willing to pay the principal owed on their loan, they say they are not sure how much money they owe.
“Savoies believe that bank cannot provide a proper accounting of the amounts paid to bank to date, or further explain the unjustified and substantial increase in the principal amount due on this loan,” the complaint says.
The Savoies allege breach of contract, misrepresentation, fraud and violations of the Texas Deceptive Trade Practices Act against JP Morgan Chase Bank.
In their complaint, the Savoies seek actual and punitive damages, plus pre- and post-judgment interest at the highest rate allowed by law, costs, attorney’s fees and other relief the court deems just.
John Pat Parsons of Lindsay, Lindsay and Parsons in Beaumont will be representing them.
The case has been assigned to Judge Milton Shuffield, 136th District Court.
Case No. D193-816