Comment

Comment by Marcy Moyer on April 18, 2011 at 12:41pm

I call them every week for updates.

Comment by Karen Mathers on April 18, 2011 at 12:09pm

Just got a Chase short sale approval.  All I can say is follow-up . . . follow-up . . . follow-up.  I think I faxed in parts of the short sale package 9 times.  They even gave me an email address once and then they said not to use it as it did not work.  Do not assume that the fax you send is getting there.  Parts of the fax would arrive and then I would have to send the missing parts to the negotiator again and again.  This was to her direct fax number!  I have a first and a second with Chase and the same thing happens to both loans.  Things like this would happen to my short sale packages 3 years ago but it surprises me that a big company like Chase should have this problem.  I guess I should not be surprised . . . it is all part of doing short sales.  Anyway, I have found sending a fax with your questions gets a better response than the phone messages.  I think they look at those faxes more often. All in all, I have not had a bad experience with Chase . . . just follow-up!

Comment by Kari A. Battaglia on April 18, 2011 at 10:27am

This is a valid offer.  I have a customer who Chase reached out to and their single family home is worth about $50,000 or less.  Their program offers customers anwhere from $30,000 to $10,000 to move forward with short sale.  I believe this is for "in house" loans and they call it Fast Track program.  Wachovia has a simular program but they do not have the same dollar incentive as Chase does.  I guess the lenders are figuring out that a short sales are better for everyone involved.

Comment by Kevin - Greenville, SC on April 18, 2011 at 10:13am

Michael,

From some info I've seen this a cash bribe to clear up their errors for property they will have a difficult time foreclosing upon.

 

Comment by Michael Schneider on April 18, 2011 at 10:10am

A couple of us on this blog received these offers.

I have one in process.  It's for real, no question.  It's not finalized, so I haven't written the happy ending to this story.

WAMU stuff?  Bad loans they want to clear? Foreclosure filing errors?  Not sure.

I don't think they have any better idea of the market direction than anyone else.

Comment by Maria Evans on April 18, 2011 at 9:57am

Hi everybody.... I have a client that was offered by Chase to do a short sale and they will pay her $10,000. She hasn't paid the loan for one year. The condo will sell for $100,000/110,000. Does any one knows about this? I saw the letter, it is true. Also a lady at Chase called me and said that as soon as they get the listing agreement they will assign a negotiator. And the condo is not even listed! This client has a friend with a $400,000 mortgage that received the same letter (I dind't see this one) offering $25,000 for the borrower to do a Short Sale. If this is what a bank is doing - and knowing they don't do anything that is good for us - I am sure they are confident that the market is going down. Any thoughts?

Comment by Nancy Fung Martin on April 14, 2011 at 4:56pm

I have a 2nd with Chase.  I have 1st lien approval from Indymac. IndyMac is offering $549 to Chase. I had approval in February from Chase with a $3K payoff, now the negotiator will not answer my calls or emails about the adjusted payoff amount. Indymac said according to Fannie Mae's policy the $549 is the max. I tried contacting the Executive office, Roger Conner, and he was of no help. When I finally got a hold of him, 6am my time, he told me to contact the Home Finance executive offices 888-310-7995. They gave me a file number and I have not heard back. Indymac's approval letter is good till April 28 and the foreclosure date is May 2nd. Does anyone have a contact that can help me with Chase?

Thank you.

Comment by Sameer Punjani on April 8, 2011 at 2:28pm

I was on hold for Chase about a short sale, and when the rep came on the line, she said, "Can I have the loan #" I said, "Hold on, let me wake up, that music put me to sleep" Next thing I know she hung on me.  How rude.  I guess she wasn't in the mood for jokes?

Comment by Kevin - Greenville, SC on April 8, 2011 at 2:26pm

Maria,

I too have had many issues with sending faxes to the negotiators @ Chase.  No problems with their direct fax # 866-220-4130

Comment by Cami Pinsak on April 8, 2011 at 6:01am

Congrats Bronda!

 

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