Chase / Freddie - Will they pursue the deficiancy.

In a short sale where there is $30,000 deficiency on a Freddie backed Chase loan. How likely are they to pursue a deficiency? Has anyone had luck having Chase/Freddie put into writing they will not pursue a deficiency. We have no money to bring to closing.

0 members like this

▶ Reply to This

Replies to This Discussion

Permalink Reply by Carmela Jacobs on October 5, 2011 at 1:33pm

I recently closed an escrow where the lender was Chase, they gave the seller a $25,000 incentive to short sell their home in addition to the $3,000 HAFA relocation funds. The 1st & 2nd was through Chase and the short sale approval states they will not go after the seller to pursue a deficiency. I hope that will be the case with your seller but then again it's all on a case by case basis.

▶ Reply

RSS

Welcome to
Short Sale Superstars

Sign Up
or Sign In

Or sign in with:

Members

View All

Badges | Report an Issue | Terms of Service

Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.