I have a short sale that was supposed to close on January 24th. Wells Fargo is the 1st lien and Chase is the 2nd. I have an approval from Chase dated January 7th, 2014. When I sent the HUD in for final approval they informed me they would NOT approve the HUD because this loan was charged off. After making multiple calls to the escalations department and speaking with several managers, they informed me that all charged off loans have been put "on hold" and they cannot approve any until further notice. I told them they issued their approval on January 7th so someone has obviously made a HUGE mistake at Chase! Does anyone have any suggestions on how to get this approved? Chase said they are having the review board take a look at it, but my fear is they will still not approve it. Any input on how I can get this moved forward to closing would be appreciated!
It was charged off Dec. 2013 and they issued their approval January 7th. I currently have the VP involved so they are working on it. Hopefully we can get a quick resolution! Thank you for your input!