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Desperately need a contact in the WAMU or JP Morgan Chase REO department

By
Mortgage and Lending with REO Field Services of Texas

I ran into an unusual situation the other day with someone that is the tenant of a foreclosed home here in Houston that desperately needs to contact either the WAMU or JP Morgan Chase REO department.  The home was foreclosed on at Tuesdays auction. 

We both attended the auction and spoke to the trustee to see if anything could be worked out to avoid the situation but it was to late.  The trustee gave us his phone number and asked to call him later so that he could give us a contact int he WAMU REO department but has yet to return our call.

My understanding is that all of the WAMU REO portfolio is being transfered to JP Morgan Chase this week so a contact at either or both REO departments will be a big help.

They would like to purchase the home, but the tenant, his brother who is a Real Estate Agent, nor myself can figure out who to contact to work something out.

I'd really appreciate any help or suggestions anyone can provide.  This man is a mechanic, has five kids, and was making his payments to his landlord in a timely fashion but evidently the landlord was making the payments to the bank.

Show All Comments
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Try to zero out when calling the Trustee, if it is a direct number, try numbers very very close to that number.  Also reverse search that number and see what the address is that is tied to that address and get a main number and ask for someone in charge, an ombudsman, CEO, etc.  Look on business week for JP Morgan, find the top people in the company and start at the top.

Mar 05, 2009 12:09 AM
Matthew Kelly
REO Field Services of Texas - Houston, TX

I'd try that but he gave us a cell phone number and any other search I do for the Trustee or his firm comes up empty.

I know some of the Asset Management Companies Chase sources business to so am going to start blowing up their phones in a few hours.

Mar 05, 2009 12:25 AM
Roy Kelley
Retired - Gaithersburg, MD

The tenant will be contacted by the REO agent when they are ready to put the home on the market.

Mar 05, 2009 12:31 AM
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Someone representing the bank will be knocking on their door soon enough.  Just be patient.

Mar 05, 2009 10:35 AM
Rudy Detgen
Troop Real Estate Inc. - Moorpark, CA
Realtor, Real Estate Agent, Homes, REO - Moorpark, Simi Valley

Hi Matt,

Chase's cusomer service number is 1-800-848-9136

Try the link below. It has a property search feature and you can see if your subject property shows up. Ron and Roy are correct. Someone will knock on the door in the next few days. The problem is your tenant will have to move out even if he wants to buy the property. The lender will want to list it and sell it on the open market.

If nothing else you can register to be an REO Agent for them. 

http://mortgage.chase.com/pages/other/co_properties_landing.jsp

 

Mar 05, 2009 06:11 PM
Andrew Monaghan
The Monaghan Group - Glendale, AZ
CRS, GRI, EPro Associate Broker

If your tenant waits, someone from Chase will come to the hoe to determine occupancy and they will have the correct bank contact info.

Mar 07, 2009 02:39 AM
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and

I agree, the tenant will be contacted by the bank or their reps to determine whether the property has been vacated and is ready for market.

Mar 16, 2009 06:46 AM
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI
Providing the very best of service to Sellers and

I agree, the tenant will be contacted by the bank or their reps to determine whether the property has been vacated and is ready for market.

Mar 16, 2009 06:50 AM
Regina P. Brown
MBA Broker Consultants - Carlsbad, CA
M.B.A., Broker, Instructor

Thanks for raising this topic, it's important for tenants to know what their move-out date will be and not be anxious.

Mar 20, 2009 06:19 AM
Anonymous
Melissa

Hello, i am interested in a property that has been forclosed but is stating that it is not for sale.  It is owned by WAMU and JP morgan chase.  Please assist me in finding a point of contact to get more information on the property of interest.   

Oct 01, 2009 05:19 PM
#10
Beth Kellan
Windermere/Cronin & Caplan Realty Group Inc. - Portland, OR
(Formerly Proctor), Portland, OR

I too would love to talk to someone in WAMU's REO department - I have a client that would like to look into purchasing a specific home that was foreclosed on about 6 weeks ago.  Did you ever get anywhere with this?  Any tips would be helpful!  Thanks, -Beth

Nov 04, 2009 05:35 AM
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