Chase/Wamu now wanting promissary notes

Hearing a rumor that the Wamu portion of Chase (still not integrated with each other?) is pretty much demanding promissary notes on all their shortages.

Anyone else running into this? Some kind of policy?

Steele

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Replies to This Discussion

Permalink Reply by ElizabethWeintraub00697006LyonRE on February 22, 2010 at 8:41am

I'm closing 3 Chase short sales right now without any seller contribution whatsoever. Two of those started out as WaMu.

Permalink Reply by Sandra Early on February 24, 2010 at 9:30am

It's true...and they are not going to budge. They may accept a settlement to release lien but it would have to be nearly 20%.

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