http://www.asreos.com/blog/chase-reo-asset-management-info-for-investors-realtors.php - Chase has had a substantial amount of mortgages that went into default, resulting in an overstock of properties reverting back to the bank. Chase REO Asset Management is now undertaking the massive task of getting these properties listed and sold. This overstock of repossessed properties, along with the ability for some investors to purchase bank owned properties in bulk, sets the stage for pricing breaks sometimes as much as 50% under market value.