Foreclosures Help Information

Posts Tagged ‘Chase Bank’

Washington Dc Foreclosed Properties

Question: Where’s the best place to find foreclosed/pre-foreclosed property in Northern VA/Washington, DC area?

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Answer: The current leader on the internet relating to providing information on foreclosures is recognized as RealtyTrac however you do have to pay to receive their informational services on foreclosures. You can also contact your local banks they have OREO (Other Real Estate Owned) departments that handle the properties they have taken back.
There are others that we have found list them on the internet
In this forum participants, such as myself, give opinions on subjects that they feel they know the answer to and sometimes those opinions sound exactly like the right answers but they might not be due to the varying laws in each state, and anyone can make a mistake, that’s why I like to give links to resources that you can check all answers against, including my own opinions, in case my opinions are wrong. Since most of these links are from state & federal government & non profits sometimes they change them, let me know if the links are wrong so I can go find the new ones. So to that end here are some links that you might want to check before relying on information and opinions that you get in here, and that you might be considering following up on and as always verify everything with a licensed professional.
Chase Bank foreclosures

http://mortgage.chase.com/pages/other/co_properties_landing.jsp

Country Wide foreclosures

http://www.countrywide.com/purchase/f_reo.asp

Bank of America foreclosures

http://bankofamerica.reo.com/search/

Regions Bank foreclosures

http://www.regions.com/personal_banking/property_for_sale.rf

NationStar Mortgage

http://www.nationstarmtg.com/Realtors/FindAHome.aspx?state=ALL

U.S. Bank Home Mortgage

https://customercare.fnfismd.com/usbankhomemortgage/reo/reoReport.asp

Wells Fargo

http://www.pasreo.com/reo/consumerSvlt/nav/ConsumerNavL1.jsp/requestPage/consumer/PropertySearch.jsp

IndyMac Bancorp

http://apps.indymacbank.com/individuals/realestate/search.asp

Chase Mortgage

http://mortgage.chase.com/pages/other/co_properties_landing.jsp

[ ] REAL ESTATE FOR SALE BY THE UNITED STATES DEPARTMENT OF AGRICULTURE (USDA):

http://www.resales.usda.gov/

[ ] Real Estate for Sale by US Government Site #1

http://www.firstgov.gov/shopping/realestate/realestate.shtml

[ ] Site #2 http://www.homesales.gov/homesales/mainAction.do

[ ] IRS: Real & Personal Property Sales: http://www.ustreas.gov/auctions/irs/

[ ] Acquiring a VA guaranteed home foreclosed by states: http://www.ocwen.com/reo/residential/res_reofindbystate.cfm?proptype=VA

[ ] Foreclosure requirement by HUD guaranteed loans: http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=MLET&s1=90-$%5Bno%5D&op1=AND&SECT1=TXTHLB&SECT5=MLET&p=1&r=39&f=G

[ ] Homes and properties being sold by the different departments in US Government:

http://www.hud.gov/homes/homesforsale.cfm

[ ] USDA Properties for sale all states

http://www.resales.usda.gov/sfhdirect/sfh_prop_main.cfm

Seminar: Buying Auction, REO & Foreclosure Homes
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Chase Bank Foreclosures Michigan

DETROIT, MI – Wouldn’t it be fun to kidnap the CEO’s of Chase, Bank of America, Citibank and Wells Fargo, hold them somewhere with just the bare living essentials and force them to negotiate loan modifications and short sales with their own customer service departments to earn their freedom?

Imagine their frustration as they have to wait on hold forever, speak with poorly trained, clueless staff who can’t find the documents they’ve faxed or emailed for the umpteenth time and have to keep starting over.

It’d make a great movie! We could call it, “Groundhog Accountability Day for Bank Executivesâ€.

“Sighâ€. Unfortunately, that’s a fantasy and reality is what we have to deal with.

Why are the big banks so difficult to deal with? Why don’t they seem to understand that they lose more money when they foreclose on properties than when they negotiate a loan modification or short sale?

Perhaps it’s we who really don’t understand where the money is made.

Do you really think that banks are able to have 24/7 customer service for credit cards and other loans, but can’t seem to come anywhere near that for loan mods & short sales? Do you really think, given technology that can track a package mailed to Timbuktu online, that faxes and emails really get lost? How hard is it really to train someone to do a loan modification or short sale?

Consider this – Chase bought WAMU in September of 2008 for all of $1.9 billion dollars. For that they got a bank with almost $310 billion in assets, $188 billion of it bank deposits. Now Chase will tell you that the deal wasn’t that great as they had to absorb a hemorrhaging mortgage portfolio of $176 billion that they immediately wrote down by $31 billion. That’s true, but hides what really is going on.

If you ignore all the other debt and assets, Chase got $176 billion in home loans for $1.9 billion. That’s just over 1% of face value. Assuming an average loan balance of around $300,000, that’s almost 600,000 mortgages and corresponding homes. That means they paid an average of only $3,000 for each of those loans. Even if they foreclose on the ENTIRE portfolio, do you think they can make money by reselling houses they got for $3,000 each?

In January of 2008, Bank of America paid $4 billion for Countrywide. Countrywide serviced about 9 million loans valued at $1.5 trillion dollars. Do you really want me to run the numbers on this deal?

The failed IndyMac Bank was sold earlier this year to a group including George Soros and Michael Dell, under the name OneWest. Sheila Bair, the head of the FDIC, had made IndyMac her personal guinea pig project for testing out aggressive loan modifications to slow foreclosures. OneWest issued a press release at the sale, stating they would continue to pursue the FDIC’s loan modification and short sale strategy. How long do you think that lasted? Try calling IndyMac now for either and see how far you get. Better yet, call Dell computers and ask them how you can customize your loan modification online just like you can order a computer.

So what incentive do these banks really have to approve loan modifications and short sales?

Who created this financial bonanza for Wall Street? The financial geniuses in Washington D.C. They could have put in place restrictions and requirements tied to the purchase of these banks, but they didn’t. Is this something they could have mistakenly overlooked? Not likely. So, this means our wonderful administration in Washington is allowing the banks to make money off the tax payers that bailed them out.

Nice. Now what are you going to do about it? Probably nothing, as it’s easier to just tune into the latest reality show on TV.

About the Author:

In addition to real estate lending, consulting and investing, Drew Sygit writes & speaks about the mortgage & real estate industries. He holds mortgage industry designations CMPS, CMC, CRMS, CMLO, CALO, has an MBA and is an approved industry instructor. He’s presented, spoken or written for HUD, Financial Planning Association, Financial Planners Association of Michigan, Michigan Associations of CPA’s, Institute of Continuing Legal Education, Oakland Real Estate Investors Association, North Oakland County Board of Realtors and numerous industry publications. He also publishes his own blog: http://drewsmortgagenews.blogspot.com. He can be reached at dsygit@TheLendingEdge.com.

Article Source: ArticlesBase.com – Reality NOT on TV – Banks Make Money on Foreclosures

People’s Summit • Detroit, Michigan • RenCen Protest • 6/16/09

Chase Bank Foreclosures Ohio

Question: ohio foreclosure? please help?

can someone please give me a timeline? our last payment was due on march 15th.our mortgage is with chase bank.my husband lost his job and theres no way we can pay for this house.i just want to know what is the timeline? how long will it be before the sherriff shows up and throws our stuff outside? ive heard anywhere from 90 days to 8months.does that mean 90 days after they file foreclosure or 90 days after our last payment was due??? im really freaking out here,we have 3 kids and no options.i need a definitive answer,please.
has anyone in ohio dealt with chase bank thru a foreclosure? ive also heard it depends on the bank.were gonna try and sell it but the housing market is real slow right now and the realtor said it could take up to a year to sell or longer.thanks to all that answer.mari

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Answer: Basically you have about 8 months from the issuance of the NOD (notice of default). This is the suit that is filed with your local court to begin the foreclosure process. Once they file that you have about 8 months.

They will typically issue the NOD 90 days after your first missed payment. Please note that there is no redemption period in Ohio so if the property goes to auction it is gone.

Also, that even of they have issued the NOD and anywhere after up until the day before the sale date, the Mortgage Company will still be willing to negotiate with you to stop the foreclosure. You have to show them you can afford the property and they will be willing to work something out with you. Chase is very good about accepting a Loan Modification where they will put most of the past due amount at the end of the loan.

June 11, 2009 Direct Action against JP Morgan Chase

Chase Bank Foreclosed Homes For Sale

Bank foreclosure lists are great tools to have if you are in the market for a new property. Many people use bank foreclosure lists as a way of finding homes in their area without having to put in too much time and effort. But even if you know that these lists offer great advantages, you still need to know where to find them. This does not have to be a difficult task, and there are three places that you can start your search today.

1. The first place that many people look for bank foreclosure lists is with the lender; this is the obvious choice, right? These lenders know what properties they own, and will be able to send you a list so that you can find everything you need. The only problem that comes up when trying to find bank foreclosure lists this way is that it can sometimes be difficult to get a hold of the right person. In other words, not everybody at the bank will have this list; you will need to find the person that does.

2. Bank foreclosure lists can also be found online for free. There are many sites that offer this service to its visitors. Even though this may sound like a great deal, you will want to be very careful before you trust them completely. A lot of these free sites do not update their information which means that you will end up chasing homes that are no longer for sale. In addition, sometimes free does not mean free. These services will try to tack on additional fees a long the way.

3. There are also online services that you can become members of for a small monthly fee. The main advantage of using these services is that you will be able to find everything that you need in one place. Paid services update their listings on a daily basis, and also include pictures when they can. Even though you will have to pay a monthly fee, it is well worth it for many people. Overall, this can be the easiest way to find bank foreclosure lists.

Trying to find foreclosed homes without bank foreclosure lists can be a difficult task. By using these, you will know longer have to search for hours or take the chance of missing out on a great property. Bank foreclosure lists are easy to find, so why not get yours today?

About the Author:

Masni Rizal Mansor provide tips and review on rental agreement, bank foreclosure lists
and new construction home loans.

Article Source: ArticlesBase.com – How to Locate Bank Foreclosure Lists

197 STONHOPE DR, Delaware, OH HUD Home For Sale

Chase Bank Foreclosure Homes

Question: Has anyone else had this happen?

Has anyone else out there had an agent of Chase bank say they were helping them to get a Homeowner Loan Modification only to find out that the bank hadn’t even tried or submitted the paper work they were sent? Our experience has been that the bank agent has actually done everything they could to hasten the foreclosure of our home. I was just wondering if anyone else has had this experience with Chase.

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Answer: This is what I read in the newspaper last Sunday, except they were complaining about Wells Fargo. It seems both banks have so many mortgages that they can not handel the demand. I heard that wells hired
900 new people and Chase hired over 1000. Don't forget chase took over WaMu's mortgages as well. I would go some were else. Especially since they have done nothing for you. Somewhere down the line there has to be a class actions suit to make these banks do their job.

CHASE BANK IS STEALING MY HOUSE