Great news for homeowners to have had foreclosures filed by Washington Mutual or JP Morgan Chase between Jan 1, 2009 and December 31, 2010 is that on [November 1, 2011 from the Office of the Comptroller of the Currency (banks regulator)] the 14 mortgage servicers covered by the enforcement actions began mailing letters to eligible borrowers that explain how to request a review of their case if they believe they suffered financial injury as a result of errors, misrepresentations, or other deficiencies in foreclosure proceedings related to their primary residence between January 1, 2009 and December 31, 2010.

Borrowers may also visit www.IndependentForeclosureReview.com for more information about the review and claim process. Assistance with requesting a review and answers to questions about the process are available at 1-888-952-9105, Monday through Friday from 8 a.m. to 10 p.m. (ET) and Saturday from 8 a.m. to 5 p.m. (ET).

Has anyone received this mailing from their lender? Has anyone requested a review yet? Please note that requests for review must be received by April 30, 2012.

Independent Foreclosure Review

Phone 1-888-952-9105

Monday through Friday from 8 a.m. to 10 p.m. (ET)

Saturday from 8 a.m. to 5 p.m. (ET).

Consent orders were issued on April 13, 2011 and taken out against the following list of banks:

  1. Bank of America
  2. Citibank
  3. HSBC
  4. JP Morgan Chase
  5. MetLife Bank
  6. PNC
  7. U.S. Bank
  8. Wells Fargo
  9. Aurora Bank
  10. EverBank
  11. One West Bank
  12. Sovereign Bank

Depending on which bank services your loan, a firm will be assigned to handle these reviews. Some of the firms include Clayton Services LLP, Ernst & Young LLP, Deloitte & Touch LLP and Promontory Financial Group LLC.

Since this a brand new program, please let me know if anyone received this mailing from their lender?  Has anyone received this mailing from their lender? Has anyone requested a review yet? Please note that requests for review must be received by April 30, 2012.

If you are having mortgage difficulties, you can take action to resolve things and move on by agreeing to sell the home and ask the lender to settle the debt for less than what is owed. This allows you to have the account show "Paid in Full for less than the full balance". This is much less damaging than a foreclosure or repossession by the bank. The fact that you have found my website shows that you are seeking to get information. Studies show that the most homeowners first contact a real estate professional, like myself to assist them with the property.

Most Homeowners are not taking any action to resolve things.  This is unfortunate because in most cases, a short sale lender will settle the debt for less than what is owed and report the account "Paid in Full for less than the full balance". This is much less damaging than a foreclosure. The fact that you have found my website shows that you are taking Action to get information. Studies show that the most homeowners first contact a real estate professional, like myself to help.

To find out information about a Chase Home Mortgage or Home Equity Account, visit the Chase Help for Homeowners page or Chase Short Sale Frequently Asked Questions.  Chase also has Homeownership Centers in fact there is one in the San Fernando Valley on the corner of Nordhoff and Reseda Blvd. on the Southwest Corner. 9055 Reseda Blvd., Floor 2 Northridge, CA 91324.  Preferably, however you should work with a Real Estate Broker like myself who is experienced in handling short sale transactions.

Chase Short Sale Dept. Phone and Fax Numbers

Lender 1st or 2nd Phone Fax
Chase Short Sale Dept. First Mortgage 866-233-5320 866-220-4130
Chase Short Sale Dept. Second Mortgage 866-220-4130 866-277-1348
       
Chase Loan Modification Dept. Submission 866-550-5705 866-220-4130
Chase Loan Modification Dept. First Mortgage 866-700-0043 x3860820 866-282-5682
Chase Loan Modification Dept. Second Mortgage 866-307-8268 866-282-5682

Homeowners are going through a tremendous amount of difficulty and have qualifying hardships. My expertise is in transfering the burden so that homeowners can move on with their life while we work through this issue.  A Chase Short Sale can be useful for homeowners who owe more on their home than it is currently worth.  If so, Chase may accept less than the amount they are owed.  Plus, you can control the timing and terms under which you move.

Also, if you qualify under the Home Affordable Foreclosure Alternatives (HAFA) short sale program, when you sell your home you may receive financial assistance of $3,000 to help with relocation expenses.  If you do not meed HAFA eligibility, Chase may still consider a regular or traditional short sale.  Sellers who are willing to do a short sale bring a lot to the table since lender stand to loose more if the property goes back to them through the foreclosure process.


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Jason Hector, CA Dept of Real Estate License #01481898
11630 Seminole Cir • Northridge, CA 91326
Office: (818) 626-6469 • Cell: (818) 357-9658
Fax: (866) 791-3290