I hope you don't recommend J. P. Morgan Chase to your clients!

I listed a Chase foreclosure in January 2012. It was the worst REO I've ever taken. I've blogged about this one before. I actually turned the listing down initially, but the REO asset manager and I came to an understanding and I took it.

Ironically, that horrible place sold in 60 minutes after I loaded it in the MLS. How crazy is that? Then the second Chase nightmare began. Chase went back and forth asking for more and more signatures and initials on docs. It was reduncancy gone wild. It got to the point that I was sure the buyer was going to walk. I would have if I had been him.

The closing was supposed to happen today. Everything was ready. The title companies were ready. The buyer took the day off and had all of his money cut into certified funds. Everybody was ready to roll. Everybody but Chase.

At the eleventh hour, Chase decided they needed two weeks to sign the deed. Is it any wonder that some of these banks are in trouble? I'm really surprised the buyer didn't walk this time. This is without comparison the worst bank I've ever worked with. I can't imagine why any agent would recommend their clients to Chase.

Today, on top of not closing, I get an email that they are mad that I haven't done my weekly inspection report. Are you kidding me? The property was supposed to be closed. They're marking me and my asset manager down because I didn't do the inspection on time. Of course it would have been closed before I did it if the morons at Chase had closed like they were supposed to.

It's not like we sprung the closing on them last Monday night. It has been under contract for over a month and a half with the closing date agreed upon by all parties. Friends, I hope you don't recommend that your clients pursue a Chase loan. Unbelievable.