Replies to This Discussion

Permalink Reply by Danute Mazeika on November 4, 2010 at 11:53am

Occupancy vs non-occupancy has to do with the HAFA Shortsale Qualification that is now on their radar.
My Chase Primary & Chase Heloc was being moved out of and was approved. They are getting better at it.

Permalink Reply by Marc Litner on November 8, 2010 at 9:49am

I'm not sure if they will have a problem with it. However, I do know that one of their investor criteria when proceeding with a Foreclosure Sale or Postponement is weather the home is occupied or not.

Permalink Reply by Danute Mazeika on November 8, 2010 at 10:21am

The question occupied or non-occupied may have to do more with HAFA prequalification & HAMP mods.

Permalink Reply by Steve Early on November 17, 2010 at 1:54pm

Sometimes they do and sometimes they don't in my experience. However your seller should expect that if they did leave the home vacant (or even looking like it was vacated with a small number of furnishings left inside), lenders will often change the locks on the doors. (Especially if you are in an area where pipes could freeze like here in New England).

I have even had them do that on houses where an auction is pending and the seller has started to move some of their belongings out so they had less to worry about if the property ended up going to auction. The lender changes the locks to "protect their investment". If this happens you will then need to find out who they use to perform that service in your area so you can get a key to continue showing the property.

Permalink Reply by Stephanie Hart CA 310-930-2342 on November 18, 2010 at 8:37am

Just an FYI... Chase is considering the prop vacant though they still ahve items in it... Therefore they are "requiring" a cash contribution. Were from $3000 to 1000... still working on it.