JP Morgan Chase Foreclosures

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JP Morgan Chase Bank is among the four best-known banks within the United States - in company with Bank of America, Wells Fargo, and Citigroup – and reported over $110 billion in revenue in 2011. JP Morgan Chase has definitely evolved over the years and is at number twenty-two in the list of the oldest banks.

As a result, an individual with a JP Morgan Chase mortgage is not uncommon. Just like any other bank with home mortgages, borrowers are going to default on their mortgage payments, which often leads to bank acquisition of the property. As a result, JP Morgan Chase foreclosures are often on the market and provide an opportunity for investors and potential homebuyers to purchase foreclosures at discounted prices  - often well below market value.

How Do J.P. Morgan Chase Foreclosures Works?

If you are considering purchasing a USA foreclosure home, it is essential that you understand the foreclosure process. When a homeowner is delinquent on their mortgage payments for an extended period of time (typically more than three months), the lender will start the foreclosure process. The homeowner is able to pay the delinquent payments up until the date in which the property is set to be auctioned off to the public.

More often than not, the lender will have an attorney at the auction that will place an opening bid, which is typically the balance of the existing loan. If there are no higher bidders, then the property becomes bank-owned.

How Do You Buy Foreclosures?

When it comes to JP Morgan Chase, these repossessed homes are added to the JP Morgan Chase foreclosure list and are often referred to as Chase REO properties. The great thing about REO Chase homes is that potential homeowners and investors can frequently purchase these USA foreclosures below market value.

When looking to learn more about JP Morgan foreclosures, you can start by contacting the US bank foreclosure department (in this case the JP Morgan Chase foreclosure department) to obtain US bank foreclosure listings of current foreclosure properties.

More often than not, the price of the foreclosure property will be set by the lender (typically in conjunction with a realtor) and will more than likely not be flexible. Furthermore, the property will be sold “as is” meaning that the lender will not make requested repairs to the home before closing day. Therefore, when purchasing bank foreclosed homes, make sure to take into consideration the cost of essential repairs when calculating the total cost of the home.

Why Buy Foreclosures?

If you are looking for a way to purchase a property below market value, then foreclosures are one of your best opportunities. The ability to obtain a home below market value is why many investors and potential homebuyers look into J.P. Morgan Chase foreclosures and other sources for discounted properties when purchasing a new home or investment property.

Find Homes up to 60% Below Market Value!

News about JP Morgan Chase Foreclosures

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    Some banks have a knack for always being in the news for the wrong reasons. For JPMorgan Chase, the latest news regarding its nefarious foreclosure and mortgage habits is par for the course.

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    Have you ever sent an email that in hindsight you regret sending? We are not talking about the kind of emails that are often written out of frustration where we say things we do not mean. In this situation, we are talking about work emails in which you say things that honestly probably should not be documented.

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  • JP Morgan Chase Foreclosures

    If you agree with just about everyone in the country – with the obvious exception of big banks – then you believe that a large part of the real estate market crash rests on the shoulders of big banks like JPMorgan Chase. In fact, this is such a well-known belief that these lenders have faced multiple foreclosure settlement agreements as a result of their unethical actions and inactions.

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  • JP Morgan Chase Foreclosures

    Throughout 2012, many banks – including JPMorgan Chase – hired independent contractors to review all of the foreclosures throughout 2009 and 2010 in an effort to uncover any missing documentation, wrongful foreclosures, and various other things that supposedly led to wrongful foreclosures. The overall goal of this independent foreclosure review process was for victims to be compensated for their losses and for banks to be held accountable for their unethical actions and inactions.

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  • JP Morgan Chase Foreclosures

    The real estate market crash was definitely detrimental not only to families, but also to the nation’s economy. Over the last few years, the real estate market has experienced declining home prices and a high number of foreclosures on the market. Although these circumstances are great for those looking for incredible foreclosure deals, a high number of foreclosures on the market drives down home prices and therefore the real estate market.

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