Hold the press! 
Foreclosure work-outs by the big bank? If you are a homeowner and in serious trouble with your lender, Chase, and even about to get foreclosed on, news just came out for JP Morgan Chase Bank will stop any new homes being put into foreclosure status. This J P Chase Bank moratorium on foreclosures for the next 90 days is the smartest thing I’ve heard a bank do lately!
Chase will hire loan counselors to work with the homeowners facing probable foreclosure to avoid the bank from foreclosing. It is expected from this announcement that Washington Mutual customers should be helped as well since the acquisition.
What do YOU THINK?
Comment below if you think that is a far smarter thing to do for a bank than raking in the legal fees and costs to foreclose and then sell the home at a loss…instead - this announcement if J P Chase will follow through, keeps their CUSTOMER in the loan and the house, moving a bad asset on their balance sheet into a performing asset with a re-worked loan.
To Your Success! Tammy Powell
P.S. Check out my upcoming Foreclosure Fast Cash Mastery if you Are you looking to make money in pre-foreclosures.
Tags: enlightened wealth institute · how to invest in foreclosures · jp chase · marketing · real estate18 Comments
18 responses so far ↓
It is about time the banks started to negotiate with the homeowners rather than just talk about it…don’t they see how most homeowners in foreclosure would love to do a loan modification instead of foreclosure, ruining their credit and moving out of the house?
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[...] unknown wrote an interesting post today onforeclosure real estate investingHere’s a quick excerptThis is just because there is a lot more to being a good real estate investor than is immediately apparent. How can you be succesful in Real Estate Investing ? First of all you need some experience and you will have much more success in … [...]
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[...] unknown wrote an interesting post today onforeclosure real estate investingHere’s a quick excerptThis is just because there is a lot more to being a good real estate investor than is immediately apparent. How can you be succesful in Real Estate Investing ? First of all you need some experience and you will have much more success in … [...]
If you have the money, now is the time to invest in foreclosed properties. The market will inevitably right itself, and when it does, all those foreclosed properties will increase in value. With a little foresight, you could make a lot of money!
[...] tammypowell wrote an interesting post today onWinner Winner Chicken Dinner - Do you Have a Chase Mortgage and …Here’s a quick excerptForeclosure work-outs by the big bank? If you are a homeowner and in serious trouble with your lender, Chase, and even about to get foreclosed on, news just came out for JP Morgan Chase Bank will stop any new homes being put into … [...]
[...] tammypowell wrote an interesting post today onWinner Winner Chicken Dinner - Do you Have a Chase Mortgage and …Here’s a quick excerptForeclosure work-outs by the big bank? If you are a homeowner and in serious trouble with your lender, Chase, and even about to get foreclosed on, news just came out for JP Morgan Chase Bank will stop any new homes being put into … [...]
If banks don’t start to negotiate, then sue them…how many homeowners have gotten the runaround from the mortgage company when they try to negotiate their loans instead of foreclosure.
When the homeowner sues the bank…then all of a sudden you bypass the $10 or so per hour person and get to talk to a decision maker in the bank so you can start negotiating!
JPMorgan is a leading financial services firm with global scale. this is a great post ! Thanks for sharing the useful information. Hope to see your new posts.
I think this is just because there is a lot more to being a good real estate investor than is immediately apparent.
I think this is just because there is a lot more to being a good real estate investor than is immediately apparent.
I agree with your idea but, there are different school of thoughts producing different ideas that has to brought into consideration.
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I think JP Morgan has its own internal problem themselves. I hope that this is still on-going and helping home owners.
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