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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trying to help the neighbor with Chase foreclosure Posted by Kristine-CA on November 02, 2009 at 7:55 AM In Reply to: Trying to help the neighbor with Chase foreclosure posted by NewbieSue on November 01, 2009 at 12:07 AM I understand you are sympathetic to your friend, but you may not have all the facts. If there have been negotiations for a year on a short sale, it's quite possible that your friend was defaulted on his mortgage a year? So, unless the bank made a really bad mistake, the property was sold not because a short sale didn't get finalized, but for non payment of the loan. The trustee sale notice could be in your friend's stack of paper work from a year ago. The good thing here is that your friend didn't pay any fees upfront to a ss negotiator and then have the same thing happen. I've talked to more than one person that happened to. There is definitely some confusion about the short sale process. Those negotiations are not binding. The only thing one can do is check the sale phone line every day to make sure the property isn't going to be offered. There are way too many depts that don't know each other at the banks. I doubt that the trustee sale was held erroneously. Not because the bank is always right, but because many borrowers and agents don't stay on top of the process. : We are looking for anybody's help, so I'm fishing here too. : My neighbor just lost his condo last week to Chase and ended up on the street on Friday without any notice! We offered him to move into one of our rental properties for a month if needed while he's trying to find another place, we would like to help him, but I don't know what else we can do but to help him find some information that can help him find justice. : The guy lost his job over a year ago and has been trying to do a short sale since September of last year, since without work he wouldn't qualify for loan mod. WAMU was his first lender, and it was a nightmare trying to get them to communicate. Then they became JPMorgan Chase, and things got even worse. He submitted his whole hardship package to them at least five times, they kept losing it. His broker has been working as his negotiator, the broker showed me the emails from Chase, they changed negotiators at least 5 times, each new negotiator starts the package from scratch, no communication even inside Chase and no results. : All of a sudden, last week on Wednesday, Chase negotiator asked for a copy of the purchase contract to finalize the approval, supposedly. For two days the guy doesn't return any emails or calls again, then resurfaces on Friday and says: "I'm not giving you an approval, because we just sold your property on Thursday"!! : Then why was he asking for a purchase contract on Wednesday if the property was already moved to Thursday auction? There are several emails from various people at Chase stating that the file is in review with the investor and the approval is coming shortly, there was NEVER any mention of an upcoming sale. : There was no publicly posted notice of the upcoming sale, PriorityPosting.com shows no sale of the property. There was no mailed notification of the trustee sale to the owner. : Now the kid is on the street, nobody from Chase came to his door yet, but he doesn't want to wait, he wants to take some action. He's been negotiating in good faith with Chase for over a year, and this unexpected behind-the-back sale caused him huge hardship. : So, a question for the RE gurus here: can anybody recommend a sharp real estate lawyer who might be interested in taking on pro-bono work against Chase? Any other recommendations that can help this kid are appreciated. Property is in Califoria, by the way. : S Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I understand you are sympathetic to your friend, but you may not have all the facts. If there have been negotiations for a year on a short sale, it's quite possible that your friend was defaulted on his mortgage a year? So, unless the bank made a really bad mistake, the property was sold not because a short sale didn't get finalized, but for non payment of the loan. The trustee sale notice could be in your friend's stack of paper work from a year ago. : The good thing here is that your friend didn't pay any fees upfront to a ss negotiator and then have the same thing happen. I've talked to more than one person that happened to. There is definitely some confusion about the short sale process. Those negotiations are not binding. The only thing one can do is check the sale phone line every day to make sure the property isn't going to be offered. There are way too many depts that don't know each other at the banks. : I doubt that the trustee sale was held erroneously. Not because the bank is always right, but because many borrowers and agents don't stay on top of the process. : : We are looking for anybody's help, so I'm fishing here too. : : My neighbor just lost his condo last week to Chase and ended up on the street on Friday without any notice! We offered him to move into one of our rental properties for a month if needed while he's trying to find another place, we would like to help him, but I don't know what else we can do but to help him find some information that can help him find justice. : : The guy lost his job over a year ago and has been trying to do a short sale since September of last year, since without work he wouldn't qualify for loan mod. WAMU was his first lender, and it was a nightmare trying to get them to communicate. Then they became JPMorgan Chase, and things got even worse. He submitted his whole hardship package to them at least five times, they kept losing it. His broker has been working as his negotiator, the broker showed me the emails from Chase, they changed negotiators at least 5 times, each new negotiator starts the package from scratch, no communication even inside Chase and no results. : : All of a sudden, last week on Wednesday, Chase negotiator asked for a copy of the purchase contract to finalize the approval, supposedly. For two days the guy doesn't return any emails or calls again, then resurfaces on Friday and says: "I'm not giving you an approval, because we just sold your property on Thursday"!! : : Then why was he asking for a purchase contract on Wednesday if the property was already moved to Thursday auction? There are several emails from various people at Chase stating that the file is in review with the investor and the approval is coming shortly, there was NEVER any mention of an upcoming sale. : : There was no publicly posted notice of the upcoming sale, PriorityPosting.com shows no sale of the property. There was no mailed notification of the trustee sale to the owner. : : Now the kid is on the street, nobody from Chase came to his door yet, but he doesn't want to wait, he wants to take some action. He's been negotiating in good faith with Chase for over a year, and this unexpected behind-the-back sale caused him huge hardship. : : So, a question for the RE gurus here: can anybody recommend a sharp real estate lawyer who might be interested in taking on pro-bono work against Chase? Any other recommendations that can help this kid are appreciated. Property is in Califoria, by the way. : : S [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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