Oxford Management for Chase

Hi everyone I need some help. My short sale first is GMAC, second is Chase. Chase charged off and Oxford management is handling the file. They want 30% of the loan which is around $25,000. GMAC has approved everything leaving Chase $3,000. Oxford management told me today they guess the house is going into foreclosure if I can't get closer to the $25,000. The house is scheduled to go to sale the 18th of next month and the buyers are threatening to walk now because they have been waiting since November. I need any suggestions you may have. I am asking the first again if there is any way to get Chase more money but I have been unsuccessful so far. Thanks, Amanda

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Permalink Reply by Lori Young on January 28, 2010 at 2:55am

Call Chase and tell them to pull the file back from Oxford. I know they can because they did that on one of my files. Oxford is a joke. 30% of zero is what they will get. You may be able to get Chase to assist you if you call and make your case.

Permalink Reply by Amanda Lynn Smith on February 1, 2010 at 11:44am

Thanks Lori, Who did you talk to? They keep telling me they have contractual obligations with Oxford and cannot go around them.

Lori Young said:

Call Chase and tell them to pull the file back from Oxford. I know they can because they did that on one of my files. Oxford is a joke. 30% of zero is what they will get. You may be able to get Chase to assist you if you call and make your case.

Permalink Reply by Stephen B. McWilliam on February 6, 2010 at 12:32pm

The Seller's may want to consider a BK now rather than in 1 to 2 years from now when the lenders will come to collect on any deficiencies created by the foreclosure. In the BK the junior lienholder will get wiped out and the first will authorize the short sale. Additionally, the Seller will avoid any later deficiency claims by the first lender if they seek a BK now rather than later. The average simple BK should cost around $2500 maximum and take about 3 months to get this approved.

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