Foreclosure in Martinsburg>Question Details

Ladybird, Home Owner in Martinsburg, WV

how can chase forclose on a home that is not owned by them and it is owned by deutsche bank?

Asked by Ladybird, Martinsburg, WV Tue Jan 11, 2011

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Matt Clausen’s answer
The easiest explanation is that Deutxche Bank (the investor) purchased the loan at some point and Chase continued being the servicer of the loan. This means that Chase manages the loan....collection of payments and disbursement of principal to the investor, property taxes to local governments and insurance to the insurance company (and PMI if you have it). Hopefully this helps. If you are looking at a foreclosure notice hurry and explore your options regarding loan modification and short sale.

Matt Clausen, Broker
Clausen Group Realtors, LLC
Greater Nashville Area, TN
1 vote Thank Flag Link Tue Jan 11, 2011
Duetsche Bank is more than likely the investor that bought the loan within a portfolio of loans. Chase more than likely services the loan for the investor. If I can help you with anything please call me, I am a REALTOR in Martinsburg WV and would be happy to help you know your options for preventing foreclosure and keeping your home, but if not maybe short sale. Jeanne Kozak, RE/MAX In Action, 304-582-5215.
0 votes Thank Flag Link Tue Jan 11, 2011
Hi Ladybird, It seems in the age of paperwork, robo signers,mill lawyers,and securitized trusts that don't exist. We the People suffer the corporate greed bought upon us by the VP's of the world.
Fight it all the way, find a way, learn on the internet whats going on. If you can hold onto your home do it.
It's not Real Estate nor regular Good Guys in the Mortgage Industry that has cuased this upset, it's the Big Guys with the Big end of Year Bonus and they think they can't fall or fail, well they are, they can, if We the People fight it.
All the Best
Dave and Lisa

by the ladybird, Lisa's family are from WV, many still live there Great State
Again all the best!
Web Reference:
0 votes Thank Flag Link Tue Jan 11, 2011
Ladybird the answer provided by Matt Clausen is totaly complete. Deutsche Bank has a large mortgae portfolio but doesn't service it's holdings (Loans)
0 votes Thank Flag Link Tue Jan 11, 2011
It depends on legal paperwork which you may not be familiar with . They may have purchased the loan and another bank servicing the file.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Tue Jan 11, 2011
Was it possible the note was sold? Clearly, a bank can't foreclose on a property where they don't hold the note.

Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
0 votes Thank Flag Link Tue Jan 11, 2011
Hi Ladybird,

This is possible depending on how the deed was structured. Contact a local attorney to see what your options are.
0 votes Thank Flag Link Tue Jan 11, 2011
If this situation is happening to you, or someone you know, do consult with an attorney who specializes in real estate--most professionals do offer a free consultation; or if you cannot afford one, contact your local Legal Aid Society for a pro bono attorney, free.
0 votes Thank Flag Link Tue Jan 11, 2011
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