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This group is for information, tips and solutions for Chase short sales.
Website: https://www.chase.com/chf/mortgage/hrm_otheralt
Members: 1166
Latest Activity: Oct 27, 2022
Chase Short Sale Information
Click The Button Now To Hire A Short Sale Superstar To Support You.
Call 1-866-233-5320
Call 1-877-838-1882
Call 1-888-369-2301
Call 1-866-222-5920
Fax Short Sale or 866-220-4130 **** NEW FAX March 2014 866-282-5682
Letter of Authorization fax(904) 462-1925 **** NEW FAX March 2014 866-282-5682
TWITTER: https://twitter.com/ChaseSupport
New Number for Chase Executive Office Resolution- 888-310-7995
888-310-7995 (Executive office for Chase)
Call 1-800-848-9136 Chase Foreclosure Department
Hint: If you need the direct Number for your Loss Mitigator (Prime Loans Only), just use their extension as the last 5 digits of the number below:
Phone Direct: 858-60x-xxxx
So...
-this>> Phone 888-369-2301 x12345
-becomes>> 858-601-2345
Chase Prime and with Chase Equity(2nd). Try these numbers for Chase Equity.
Short Sale Equity 1-866-233-5320
888-765-2849
866-316-9218 loss mitigation longer hours and weekend hours
Email format [email protected]
Number to fax HELOC packages to is (614) 422-7171.
Our Commitment to Treating Customers Fairly:
If you feel you were not properly evaluated for foreclosure prevention alternatives or inappropriately denied a foreclosure prevention alternative, or you are concerned about fraudulent servicing practices, or other actions you believe may be a violation of delinquency management or default prevention guidelines, including a violation of policy time frames, please call 1-866-209-1720. We will use best efforts to acknowledge receipt of your complaint within three business days following receipt via phone, e-mail, fax or mail and will strive to provide a resolution within 30 days. We will communicate the proposed resolution to you in writing and next steps, if applicable.
Mail packages to Chase 3415 Vision Drive, Columbus OH 43219
Listing and selling agents must sign under their typed names in the purchase contract.
https://www.chase.com/chf/mortgage/keeping-your-home
WAMU (Now CHASE) missing document Fax 206-494-4666
Walk Department (before charge-offs) 866-346-6132
Recovery Department (more than 120 days past due, charged off) 877-836-3040
Chase Short Sale Forms
**On the package IRS FORM 4506T - Check boxes 6A and 6C and on blank line 6 write "1040"
Discussion Forum
Community state rules in AZ: Help for homeowner who wants a short sale but is now married.
Started by Joyce Freese. Last reply by James Franko Sep 7, 2021. 3 Replies 0 Likes
CHASE HELOC pay commission to buyer's agent related to buyer?
Started by Bob Helmig. Last reply by Tony Morales Jul 25, 2018. 1 Reply 0 Likes
New CFPB Guidelines for Short Sales
Started by Tony Morales. Last reply by Minna Reid Oct 31, 2017. 9 Replies 1 Like
Comment Wall
Comment
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Comment by Katerina Gasset on December 3, 2009 at 8:42am
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Anna- Thank you! I am not allowed to solicit, LOL, but maybe Bryant and Wendy won't mind me saying, you can always subscribe to my Active Rain blog- activerain.com/blogs/wellingtonhomes to keep up with what I write about. I will be doing a series on the new HAFA rules that I spend 9 hours studying and questioning and discussing with attorneys.
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Comment by Kent Dills on December 3, 2009 at 3:16am
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Thanks Katerina. The 8%-20% of BPO validates my own general "rules of thumb" for investor ranges. Willingness to discount increases as you progress from VA, to FHA/HUD, to conventional.
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Comment by Bryant Tutas on December 3, 2009 at 1:48am
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I have had much success with Chase. BUT they are very slow. My files average about 4-5 months. You just have to keep pushing them. Also, make sure your seller keeps updated financials handy. Chase will ask for them and you need to be able to get them over quickly.
As Katerina pointed out, the price is very important when it comes to short sales. The higher the better. Don't be shy about having your seller reject offers. If it doesn't make sense to you it certainly won't make since to the investor.
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Comment by Anna Mackey SDHS on December 2, 2009 at 6:51pm
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Katerina, you are awesome! Do you have a fan club and how do I become a member? Thanks for sharing all your experience and wisdom here, you rock!
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Kent- I do know that for Chase loans that it only costs them for Florida files, only $3500 a file to go from start to finish for a foreclosure. The formulas are different for different investors. We use this formula for our pricing- the net they are looking for seems to be around 8% to 20% off the market value of a BPO. I am not a very good numbers person, more right brain stuff for me:) so I don't quite understand when our contact is explaining the Chase formula for investors.
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Teresa- Unfortunately we can not disclose our contact at Chase. We could lose him by telling who he is. I will tell you this though: Call Chase, complain about the file to the loss mitigation department and tell them you need to talk to the assigning manager over your file. The loan number you have will also tell them whether this is a freddie or fannie file. Do you know who the note owner is? If you do, and you tell me, I can most likely tell you where the problem is.
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Katerina, that's good stuff. Would you happen to have a "generic" foreclosure formula that you could share for all our edification? ;-)
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Almost all investors/note owners require more than one BPO if the loss is more than 125K. Fannie is not the one that usually denies the short sale, it is the servicer because the formula does not work for the loss and the net. That is why you will get a counter sometimes above the BPO. What that means is that the investor will make more money on a foreclosure formula than a short sale loss. There is a lot that goes into the formulas. But mostly it comes back to the PAS agreements the servicers have with the investors that creates the biggest head aches. Fannie will strip the delegation authority from servicers that do not keep within their value guidelines. I was on the phone with Ken Lewis' assistant while he was in a meeting with the execs from BofA the day after Fannie stripped BofA of all their delegation authority. Freddie stripped Chase of their delegation authorities also. Yet, if you go to Freddie or Fannie they will pass the buck back to the servicer.
It is all a lot more than meets the eye.
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Anna, gotcha! Thx.
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Kent, on many files Fannie requires 2 BPOs, and then they run "their own values" and sometimes disregard those 2 BPOs and counter with the price above the BPOs... Even had some files declined because of that!
On the bright side, when they approve, they do pay 6%... LOL
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