Housing Bubble Horror Stories

JPMorgan Chase Accidentally Breaks Into Your House And Steals Everything You Own

'Bobo and Joy Dickson bought a house had been headed for foreclosure, but JPMorgan Chase apparently didn't get the message that the former owners had moved out and the new owners were in residence. So, naturally, they hired a firm to drill the Dickson's locks and take everything they owned, including their food. Now JPMorgan Chase is "taking it seriously."

"We take this very seriously, and we are working with EMC [a mortgage company JPMorgan Chase owns] and the family's attorney to make this right," said Tom Kelly, a JPMorgan spokesman.

After the Dickson's bought the house back in May, the foreclosure proceedings were supposed to have been stopped. They weren't. That's when the former owner's mortgage company (owned by JPMorgan Chase) hired "Field Asset Services Inc." to drill the locks and "empty the house," according to the Austin American-Statesmen. Field Asset Services claims that the Dickson's possessions were given to area thrift stores, but they have been unable to locate them.

Ordinarily, when personal possessions are left in a foreclosed home a court order is needed to remove the items and the owners are given the opportunity to reclaim them within 24 hours. JPMorgan Chase says its not sure if there was a court order in this case.'