Chase called ME to re-initiate Short Sale they had denied..Why????

File has been closed for 90 days.  Borrower was denied due to "no-hardship".  DIL was turned down as well.  Chase calls me approx. 4 weeks ago and says that "due to new guidelines, we are willing to re-open this file as a Short Sale..is your Borrower interested?"  I had to get them an offer within 24 hours..which I did..same buyers as a matter of fact.  Just a lower offer of course.  New Negotiator assigned.  He seemed sharp..Bill Tucker.  He's now telling me that "if your client has that much in her IRA-even though she's retired and living off of it with her SS, she will not qualify."  Good Grief!  NOTHING has changed for my Borrower! 

 

Anyone else had Chase play this game with them? 

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Replies to This Discussion

Kimberly. I would have this file escalated to upper management. Your borrowers IRA has nothing to do with anything. Be firm and get this deal approved.
I will do so on Monday Bryant..thanks.  Seems very fishy to me too..Kim

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