7 Reviews of Restoration Hardware Warehouse Sale I've been here#times and while there are deals to be had here, the majority of the items are still over priced.
Why lenders love to foreclose......
“Foreclosures are a no lose proposition for a servicer,” Jerad told me during the interview.“The servicer gets paid more to service a delinquent loan, but they also get to tack on a whole bunch of extra fees and the borrower reinstates the loan, which is rare, then the borrower pays those extra the borrower loses the house, then the investor pays er way, the servicer makes big bucks.
INSIDE CHASE and the Perfect Foreclosure
Posted on11 September 2010. Tags: 2010, bank of america, Chair
“JPMorgan CHASE is in the foreclosure business, not the modification business’.”That, according to Jerad Bausch, who until quite recently was an employee of CHASE’s mortgage servicing division working in the foreclosure department in Rancho Bernardo, California.
I was recently introduced to Jerad and he agreed to an interview.(Christmas came early this year.)His answers to my questions provided me with a window into how servicers think and some of the he said confirmed my fears about mortgage servicers… their interests and ours are anything but aligned.
Today, Jerad Bausch is 25 years old, but with a wife and two young children, he communicates like someone ten years had been selling cars for about three and a half years and was just 22 years old when he applied for a job at JPMorgan ended up working in the mega-bank’s mortgage servicing area… the foreclosure department, to be had absolutely no prior experience with mortgages or in real estate, but then… why would that be important?
gets their money.”