Comment

Comment by Lydia on November 7, 2012 at 4:51am

Thanks for the info Kevin!

Comment by Kevin - Greenville, SC on November 6, 2012 at 7:10pm

Lydia,

 

You first fax in your package like usual, then a Chase rep 'intiates' the Short Sale in EQ like GMAC does.

Comment by Lydia on November 6, 2012 at 2:00pm

I could not believe it. I even took a screen shot of the drop down list and Chase is now where to be found but the negotiator is telling us that we must go through EQ.

Anyone have a specific contact for me at Chase to get this moved along? We've been in short sale transaction for the past 4 months.

Thanks,

Lydia

Comment by Sheila Vardakis on November 6, 2012 at 1:45pm

they are not showing up on my bank list yet in Equator?   surely this isn't market specific?

Comment by Lydia on November 6, 2012 at 1:35pm

I just had my Chase short sale booted out of manual and was told that I need to go through Equator. When I go to initiate a new short sale my drop down menu doesn't even show Chase as one of the identified lenders. Am I have a blonde moment?

Please advise.

Thanks,

Lydia

Comment by Richard "RJ" Kas on November 4, 2012 at 11:49am

Located in Beverly Hills, Los Angeles County, Ca... For the past 8 years have completed ++++ with Chase.  I currently have 21 or 22 I am working on with Chase.  Completed these short sales for Los Angeles, Orange, San Diego, Riverside, San Bernardino, Ventura, Alameda, Contra Costa, Kern and Santa Barbara Counties... Yes.. I do travel. 

Comment by michael j blue on November 4, 2012 at 4:55am

I haven't done a chase short sale since they went to equator. But for my experience with them is a pretty straightforward process, If it's a WAMU loan you will not need lots of documentation, Seller cash incentives are predetermined by Chase as we all know but it's not the luck of the draw it is strategic, For some reason in San Diego my sellers get a lot of information, maybe it's online. They do not want to move or do a short sale, they stay wait for the home to be foreclosed and then collect cash for keys 30 days after that. Not uncommon for Chase to pay the $3000 cash for keys or relocation assistance. If the homeowner has rented out a room and has a bona fide tenant they now fall under the protecting tenants at foreclosure act. It's now a 90 day stay before eviction or the term of the lease, again if it's a bona fide tenant with a valid lease. I find most of the tenants in a room are friends or other family members and by the letter of the law do not have a bona fide lease inplace but it's rarely contested. I think there's some body or some group here in San Diego that spreads this time type of technique with owners in foreclosure. Prequalifying the seller before listing a short sale for me has been key and I have not run into the trouble other agents experience. I have not used or paid for a short sale negotiator it's too easy to do myself. I would not use one in my area as most are agents and their businesses listing and selling real estate and I find out a conflict of interest as far as future businesses concerned, CRM With these people and they will be a buyer one one day.

Comment by Real Estate Strategy Lab on November 3, 2012 at 9:30pm

Great tips guys. Especially yours Robin!

Comment by Leticia Arteaga on November 3, 2012 at 1:31pm

I am in Northern CA and I too have closed many short sales with CHASE

Comment by Cami Pinsak on November 3, 2012 at 12:09pm

I am in CA and have negotiated many successful short sales with Chase...

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