Chase won't approve a short sale that Im working on in Maryland because the MI Company Raidian said the mortgage has to be 60 days late. What can I do. They declined it at the last minute. What can I do? Who Can I call. I called radian with the homeowner on the phone. Raidian said they could not give any information on the MI policy because Chase is their client. Help Please!
It's likely you will be unable to proceed with a short sale while the borrowers are current on their mortgage due to the MI Company's guidelines. If the borrower is making their payments, many investors or MI companies feel that the borrowers can continue to make their payments. It's a sensitive situation and a discussion with the homeowners need to be had about their options.
If you have any questions feel free to reach out to me as my door is always open.
Thank you. I have escalated the matter through Chase Executive Office at 888-310-7995. I'll post what happens next.
Oh no this is terrible news. Thanks Brian.