• Home
  • About
  • Our Listings
  • Search Homes
  • Mortgage Calculator
  • Blog

ReferralRealty.US

Serving Raleigh, Durham, Chapel Hill & The Triangle

ReferralRealty.US – North Carolina Homes

Browse All Homes for Sale in Raleigh and Surrounding Areas

‘Single Point of Contact’ Solution to Accidental Foreclosures

June 27, 2011 by PeterGreijn

Filed under: News, Foreclosures, Lifestyle, Refinancing

Single Point of ContactSome homeowners have difficulty holding on to their homes simply due to miscommunication: banks lose paperwork and fail to keep track of mortgage modification applications. The confusion is a result of multiple employees handling the same case.

Laws that require a “single point of contact” between the homeowner and one case-assigned employee are the answer to the problem. But so far litigation that would put an end to the mix-ups has stalled. Zach Carter reports about it at The Huffington Post:

Tim Collette’s son Aaron will get back from Iraq on Aug. 19. On Aug. 9, his bank, JPMorgan Chase, is taking his house in Bend, Ore. — unless Collette can get a mortgage modification first. But unlike innumerable other borrowers in similar situations, Collette now has a pretty good shot at getting one.
Collette first asked his bank for help in 2008 when his work as a home flooring expert slowed down dramatically. The result was a disaster. He said the bank told him he had to miss payments to qualify for help. When he missed the payments, the bank began pursuing a foreclosure. One day someone from Chase would say one thing, the next, someone else would say something completely different.

The process got a lot easier last week when Chase assigned a single person to follow Collette’s case and handle every single interaction that he has with the bank.

See the full story at The Huffington Post.

For more on mortgages, foreclosures and related topics see these AOL Real Estate guides

  • Mortgage Jargon in Simple Terms
  • Spot Foreclosure Scammers Before They Spot You
  • Foreclosure Help: What a Housing Counselor Can Do
  • Foreclosure: What it Means for Renters

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.

 

Permalink | Email this | Linking Blogs | Comments

AOL Real Estate – Blog

Filed Under: News on Real Estate Tagged With: 'Single, Accidental, Contact', Foreclosures, Point, Solution

Be Social – Follow Us

  • facebook
  • twitter
  • instagram
Request a FREE Foreclosure List
Foreclosure Subscription
Click on this Link or Photo to SUBSCRIBE

ReferralRealty.US LLC

For more information Phone:919-422-9677  Or, click here to: E-mail Peter. 

Copyright © 2021 · AgentPress Pro on Genesis Framework · WordPress · Log in

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange™ Program of the Triangle MLS, Inc. of Cary. Real estate listings held by brokerage firms other than ReferralRealty.US, LLC are marked with the Internet Data Exchange™ logo or the Internet Data Exchange™ thumbnail logo (the TMLS logo) and detailed information about them includes the name of the listing firms. Listing information is deemed reliable but not guaranteed. This web site is monitored for signs of third party scraping and any use of search facilities of data on the site, other than by potential buyers and sellers, is prohibited.