Hi All,
I have heard many stories of clients getting $3000 - $35,000 from Chase in short sale incentives. Has anyone had success with this, and what is the best route to take to "apply" or get these incentives for our clients?
Thank you for any input that you have.
Best,
Tags:
Hi Alisa, we have completed 2 transactions where Chase paid the Sellers $20,000 plus they each received an additional $3,000 in HAFA funds. In one of the files, the homeowners received a letter directly from Chase informing them of the $20K. In the other, the homeowners were not aware of the money (they probably threw the letter away without opening it). In both cases, Chase advised us to include the $20K on the HUD-1 in the 500 section as a "Chase Incentive" payable to the homeowners. The negotiation process was fairly simple and straight forward.
It is ONLY for the Chase portfolio loans, where Chase is both the Servicer and the Investor (contact me off here, [email protected] to find out how to know who the Investor is).
Chase will also pay up to 8% commission on their portfolio loan short sales!!!
B of A, PNC, and several others have LARGE homeowner relocation assistance programs on portfolio loan short sales as well.
Even if the borrower doesn't have a portfolio loan, they can still potentially receive an incentive if the investor is a GSE or through HAFA.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.