Foreclosure Loans: Chase Bank Clueless About What’s Happening with the Home Loans They’re Responsible For

To be fair, it’s not just Chase bank that’s out of the loop when it comes to what’s happening with foreclosure loans and modifications; it’s just that they’re an obvious target when they keep popping up in the news with major blunders, as was discussed in this prevent foreclosure post which featured the lender.

The latest example is of a California couple whose home was foreclosed on – unbeknownst to Chase – who owns the loan. The homeowner was actually on the phone with a Chase representative when the real estate agent knocked on his door to tell him his home had been foreclosed on the day before.

The homeowner’s response:

I literally handed the phone to him [the real estate agent= and said, ‘Why don’t you tell this guy from Chase?’

California has a pending law to help prevent foreclosures – and clear up some of the confusion around the situation.

Read more about this foreclosure loans legislation and how it is projected to help even more homeowners stop foreclosure.

P.S.: Start a Business Cleaning Foreclosed Properties. While the foreclosure crisis has been a nightmare for many, it has presented a perfect small business opportunity for others. Learn how to start a foreclosure clean up business. Read how one foreclosure cleaning business owner rakes in $40,000/wk (not a typo).

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Copyright © 2010 Yuwanda Black for Foreclosure Business News. Article may not be reprinted or reproduced in any manner without the express, written consent of the author.