Foreclosure date set, escalation # obtained....What do we do now?
We are working on a short sale deal with Chase as the servicer. We were approved on 12/31/2009. The buyer did their due diligence and found numerous huge problems with the property. It was basically uninhabitable. So the offer had to be rewritten with a lower offer and with extensive documentation on the condition of the property. In the meantime, an auction date was set for March 1. With the info from this group, today the listing realtor called the exec resolution group and got a case #. He was told he would hear back in 5-7 days.
He is in the process of finding out who the investor is. So my question is what should we expect next from Chase?? Should the listing agent not wait and move forward with contacting the investor? any other base we need to cover?
Replies to This Discussion
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Permalink Reply by Melissa Colvard-McKinsey on
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I had to contact Chase's Executive Resolution group on my last short sale. I got a case number and a contact person and then never heard another word until three weeks after we closed (we were able to work everything out). They sent a letter to me and the homeowner basically saying there was nothing they could do. I hope you have a better experience. I would keep bugging them if they don't get back to you in the timeframe they gave you.
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Permalink Reply by Laura Rencher on
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Just curious....Did you have an auction date scheduled?
Sounds like we shouldn't count on their help and probably proceed with contacting the investor....
Melissa Colvard-McKinsey said:I had to contact Chase's Executive Resolution group on my last short sale. I got a case number and a contact person and then never heard another word until three weeks after we closed (we were able to work everything out). They sent a letter to me and the homeowner basically saying there was nothing they could do. I hope you have a better experience. I would keep bugging them if they don't get back to you in the timeframe they gave you.
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