Need help with a Chase short sale going to foreclosure!!!

I received short sale approval from Chase.  On a Friday we found out the buyer couldn't get the loan.  That following Monday we submitted an all CASH offer so we could expedite the close.  3 weeks later, via Equator, we were told a new approval letter would be issued.  Another week later we were told they reordered a BPO.  That was supposed to happen yesterday.  Today, via Equator, the message was that Chase no longer services the loan.  The NOD was filed with an auction date of Oct. 9.  Could not get ahold of the negotiator today after numerous attempts.  What can I do???  My seller qualified for the short sale and now Chase is not servicing the loan anymore?  Can the auction date be stopped?  I have no idea who the new servicer is(?)  This is crazy as we could have had this closed over 2 weeks ago.  Is there a way to escalate this again (even though that hasn't worked previously)?  BTW this short sale originated 9 1/2 months ago.  Any advice??

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Permalink Reply by Short Sale Superstars LLC on September 26, 2013 at 6:28am

Kathy,

     You need to find out if the loan has already been sold and if so who is now servicing the loan. I'd be reaching out to the presidential office in regards to the service release and the pending foreclosure sale date. Have you checked with the attorneys office to check the status of the FCL sale date? You are in a very sensitive situation and you need to find out exactly what is going on as soon as possible in order to proceed in the best manner available. If the loan has been service released, you need to get the package to them and reach out to escalation contacts/departments.

If you have any questions or need assistance please feel free to contact me as my door is always open.

Warm regards,

[email protected]

310-564-6389

www.ishortsalenow.com

Permalink Reply by Wayne Brooks on September 26, 2013 at 10:09am

You have a sale date of Oct 09?  When was the NOD filed, months ago?

Here, our foreclosures are judicial, and we can usually get to court with a defendant's motion and delay a sale, IF we can show we have legitimate short sale negotiations going on.  Sounds like maybe you're non-judicial, don't know the possible procedures from the court/trustee side there.

Permalink Reply by Wayne Brooks on September 26, 2013 at 10:20am

It appeared the auction date is Oct 09, and that the NOD would obviously have been filed months before...but it's not perfectly clear.

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