Replies to This Discussion

Permalink Reply by Marybeth Mack on November 18, 2010 at 2:39pm

Dave,
I have been in this situation, not particularly with Chase, but I recommend trying to contact the attorney on the writ for the sheriff sale. Also, fax the offer you have to everyone and anyone in the bank. SHORT SALE DEPT., LOSS MIT., ATTORNEY ON THE WRIT, ETC... And then make constant follow-up calls, leave messages with everyone you get in touch with or voice mails. If the offer is good enough, i have had 2 short sales approved in less than a week by doing this, but the offer has to be a good price.

Permalink Reply by Greg Smith on November 18, 2010 at 3:19pm

[email protected]
This is a negotiator I am working with now on a deal...you could try her. Her boss is [email protected]
good luck!

Permalink Reply by joe beauchamp on November 19, 2010 at 11:54am

This has become a stickier position to be in over the last few months and seems to be getting worse - i.,e., bank/investor not automatically postponing.

It seems that if Chase "never reached a decision", you have that as a bat to hit over their heads as to why YOU are at this late point trying to keep this seller out of financial ruin. Find everything that Chase did to cause problems so that you can mention those when you call for postponement. Put as much of the problem on their backs for putting this person out on the street via foreclosure. That can have an effect, especially if you get to the higher levels of bank intelligent life.

The other thing, with this "what was that?" kicking around with a mod previously and all, could be to bring out the forensic audit. You ask the bank for a zillion things and pour through all the mistakes made in the loan, after the loan, etc. You might find things there, but my main point is to put Chase on the hook to help out instead of stand in the way.

The more you can show that they screwed up, are culpable, etc., (once you find someone with brain cells, that is -- clones don't count... hmmm... actually, literally, they have trouble counting... hmmm..) the more likely they are to flip the switch and give you some leeway.

[And, I like Marybeth's attitude - keep pounding that phone, everyone's phone - I'd also add that when you get on the phone, when you hit someone who is useless, do not hang up but escalate. Every time you hang up, you shoot a ton of time, are hitting reset, cut back on your power for your next call and made it easier for yourself to just give up. - I say this because I run across postings of "I'll wait and see what response I get from my email" - and that can be deadly.)

Something possibly worth a shot is talking to the MI if they are involved. I say this because I've had way better response from the MI's than the banks and the useless investor FNMA (main one I have to deal with). It is a long shot, getting their name will be tough, since they won't have the file, it would definitely be uphill, but I'm throwing it out there for when all else fails.

Permalink Reply by Dave Greek on November 23, 2010 at 5:33pm

Thanks so much for your reply. As of this morining I was able to get the foreclosre postponed and the BPO has been ordered. I just hope the offers good enough. Thanks again.

Marybeth Mack said:

Dave,
I have been in this situation, not particularly with Chase, but I recommend trying to contact the attorney on the writ for the sheriff sale. Also, fax the offer you have to everyone and anyone in the bank. SHORT SALE DEPT., LOSS MIT., ATTORNEY ON THE WRIT, ETC... And then make constant follow-up calls, leave messages with everyone you get in touch with or voice mails. If the offer is good enough, i have had 2 short sales approved in less than a week by doing this, but the offer has to be a good price.

Permalink Reply by Dave Greek on November 23, 2010 at 5:34pm

Thanks so much for your reply. As of this morning I was able to get the foreclosure postponed and the BPO has been ordered. I just hope the offer's good enough. Thanks again

Greg Smith said:

[email protected]
This is a negotiator I am working with now on a deal...you could try her. Her boss is [email protected]
good luck!

Permalink Reply by Dave Greek on November 23, 2010 at 5:37pm

Very good advice and I was prepared to do all that you suggested but surprisingly enough, Chase called me and simply asked for missing info, pulled the deal out of trustee sale and gave me a list of missing items needed. I produced that today and they verified they had everything, ordered the BPO and said this deal will go fast. Not consistent with my mod success as well as some of the posts on this blog but I'll take it. Thanks again for your advice.

joe beauchamp said:

This has become a stickier position to be in over the last few months and seems to be getting worse - i.,e., bank/investor not automatically postponing.

It seems that if Chase "never reached a decision", you have that as a bat to hit over their heads as to why YOU are at this late point trying to keep this seller out of financial ruin. Find everything that Chase did to cause problems so that you can mention those when you call for postponement. Put as much of the problem on their backs for putting this person out on the street via foreclosure. That can have an effect, especially if you get to the higher levels of bank intelligent life.

The other thing, with this "what was that?" kicking around with a mod previously and all, could be to bring out the forensic audit. You ask the bank for a zillion things and pour through all the mistakes made in the loan, after the loan, etc. You might find things there, but my main point is to put Chase on the hook to help out instead of stand in the way.

The more you can show that they screwed up, are culpable, etc., (once you find someone with brain cells, that is -- clones don't count... hmmm... actually, literally, they have trouble counting... hmmm..) the more likely they are to flip the switch and give you some leeway.

[And, I like Marybeth's attitude - keep pounding that phone, everyone's phone - I'd also add that when you get on the phone, when you hit someone who is useless, do not hang up but escalate. Every time you hang up, you shoot a ton of time, are hitting reset, cut back on your power for your next call and made it easier for yourself to just give up. - I say this because I run across postings of "I'll wait and see what response I get from my email" - and that can be deadly.)

Something possibly worth a shot is talking to the MI if they are involved. I say this because I've had way better response from the MI's than the banks and the useless investor FNMA (main one I have to deal with). It is a long shot, getting their name will be tough, since they won't have the file, it would definitely be uphill, but I'm throwing it out there for when all else fails.