1st Loan Balance 1,000,000

My seller received a letter from Chase stating that they don't qualify for the Home Affordable Foreclosure alternative because the loan amount is higher than the program limit of $729,750. What alternitive does the seller have? Anyone have any ideas? I called chase and they said they didnt know what we can do?

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Replies to This Discussion

Permalink Reply by Tony Morales on September 17, 2014 at 5:10am

that's simple.. They just do a standard short sale

Permalink Reply by Kevin - Greenville, SC on September 17, 2014 at 5:12am

Chase has non-HAFA SS programs available.

Permalink Reply by Kevin - Greenville, SC on September 17, 2014 at 5:13am

"I called chase and they said they didnt know what we can do?"

call back and ask someone else.

Permalink Reply by Tony Morales on September 17, 2014 at 5:24am

Just submit your short sale package with letter signed by seller that he is aware that he is not eligible for a HAFA short sale but he only is only requesting a standard short sale Do not complete or submit Making Home Affordable forms

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