JPMorgan Chase Bank can help borrowers who find it difficult to make mortgage payments. Continued default and delinquency can eventually lead to foreclosure, which can be devastating for the homeowners. Even the bank doesn’t want this situation to arise; however it needs to maintain a foreclosure department in the case of eventuality.
You may need to contact this department to either stop a foreclosure process that has already begun or find out and buy a foreclosed property, also known as real estate owned or REO property. If you want to query about a property that is serviced by Chase, you can contact its REO department at 1-877-584-3290 from 8:00 a.m. to 8:00 p.m. CT, Monday through Friday.
How to contact Chase Bank Foreclosure Department for help?
Chase Bank Foreclosure Department, also known as Loss Mitigation Department, can be contacted at 1-866-550-5705. You can call this phone number for mortgage assistance and foreclosure help.
Is there a way to contact Chase Bank Loss Mitigation Department by fax or mail?
You can contact the mortgage customer service by phone, fax or mail. The fax number to send documents is 1-614-422-7575. The mailing address to reach the bank’s loss mitigation department is Chase, Attn: Customer Service Research, Mail Code: OH4-7302, P.O. Box 24696, Columbus, OH 43224-0696.
How Chase can help a troubled borrower with its mortgage assistance programs?
Calling the loss mitigation department or foreclosure department for help invokes the mortgage assistance procedure of the bank. You may be offered one or more options depending upon your present financial condition and the stage of your mortgage default.
The following are some of the options available at the bank for troubled homeowners.
- Mortgage Modification
- Forbearance
- Reinstatement
- Repayment Plan
- Short Sale
- Deed in-lieu Foreclosure
What is the process of foreclosure?
A foreclosure can be either judicial or non-judicial, depending on the circumstances and the will of the lender. The major difference between the two is the degree of law court’s involvement – the former being handled entirely as a civil lawsuit while the latter takes place without any formal court proceedings.
The process in either case differs from one state to another and so does the timeline for its different steps. At the end of the process, the house is sold at public auction and the proceeds are used to pay for the liens on the property and help the homeowner relocate.
How can I buy a property foreclosed by Chase Bank?
Chase lists properties that it has foreclosed on its website and sells the same through authorized real estate agents. You can contact the bank’s REO department for more information about a property that you know.
Only the properties that the bank has completed foreclosure are included in the online listings of bank-owned properties for sale. You need to contact the real estate agent listed with the property details on the Chase properties website.