Join Our TweetUp To Learn About Chase Bank's Short Sales, REOs and Foreclosure Process

We are pleased to announce our very first TweetUp! During our road show with Chase Bank, on Tuesday March 13 from 11:30-12:00 we will be tweeting the latest information on Chase processes and programs with Chase's VP Western Regional Relationship Manager, Deanna Murphy. Posts will include the most pertinent updates on Chase Short Sales, REOs and Foreclosure Process.

Topics include:

*Chase Foreclosure Review Process-details on how decisions are made
*Chase Accelerator Program ¡V portfolio product
*Issues to avoid with your Short Sale Package
*How to Escalate and Contacts
*How Realtors benefit from the Homeownership Centers
*Foreclosure Avoidance Program-helping homeowner¡¦s reach their ultimate goal
*Chase REO & Realtors

Understanding the inside track on Chase's processes and programs will help you better determine the best opportunities to pursue, make your time more efficiently spent and help grow your business!

Join the TweetUp! We will be answering questions and responding to comments on both Twitter and Facebook. Post your questions and comments on Facebook, or tweet them using #shortsaleescalation.

BONUS: We will be holding a contest for this event! Each Tweet or Facebook post will be entered into a drawing to 4 Suns tickets for April 18th Suns vs. Oklahoma City game.

You won't want to miss this unique event. We look forward to chatting with you online!

Wells Fargo Home Mortgage SVP Shares Market Insights

At November’s Crystal Ball event, our esteemed panel shared with us their insights regarding the current market and what their respective companies are doing to aid consumers in this challenging time.

JK Huey, Wells Fargo Home Mortgage Senior Vice President REO and Short Sales, is a 29-year veteran of the mortgage industry. Huey cited many positives at Wells Fargo, regarding the current market:

- WFHM maintains a strong performing loan level; about 94% of loans they service are not delinquent.

- Over 700,000 WFHM loan customers have been helped to remain in their homes and not lose them to foreclosure. This has been accomplished with loan modifications, including principal forgiveness and deferral. Huey cited that WFHM has forgiven about $4 billion in home loans, and deferred about $2 billion.

For the other 6%, the delinquent accounts, WFHM continues to make concerted efforts to help home owners keep their homes. Those 150 or more days delinquent are most at risk of liquidation. WFHM works with these homeowners to find an alternative to foreclosure, such as short sale or deed in lieu. Huey cited their Home Preservation events and centers that help educate homeowners about all available options and opportunities to avoid foreclosure.

Unfortunately, there isn’t a viable alternative to foreclosure in every situation. However, some good news for Arizona residents, Arizona is no longer in WFHM top ten states for late stage delinquency and REO. Additionally, WFHM’s REO inventory is down 71% since the first part of 2011. Huey feels strongly it is die in large part to WFHM’s strong commitment and effort to help homeowners keep their homes, as well as more and more being liquidated through short sale as agents become more knowledgeable of and utilize that option for their clients.