Comment

Comment by Kari A. Battaglia on January 22, 2011 at 9:48am

Thanks I will do that. Yes, I did not reveal all that was discussed but this guy was having fun with me.

Comment by Cami Pinsak on January 22, 2011 at 9:43am

Hi Kari, EMC is essentially Chase so you might stalk the Chase board for exec. resolutions numbers...That is horrible!

Comment by Kari A. Battaglia on January 22, 2011 at 9:41am

I am working short sale with EMC.  I have not received any communications from them.  I missed a call and negotiator called to leave message that they were countering offer at $10,000 $135,000 which is $10,000 above anything that has sold for the entire 2010.  I tried to call back and left a voice mail message for him each day for 10 days. Finally I called main number for Loss Mitigation and they tell me the file is closed because I did not submit counter offer.  When asked why my calls were not returned and guy I was speaking with could not tell me, he said may be negotiator is sick, on vacation or fell off the face of the earth. I should not judge him for not returning my calls. What? Can anyone tell me who I can call regarding the over priced counter offer?

Comment by Brian Wood on October 27, 2010 at 7:47am

Seen this before? I have the most experience doing short sales in our office so another agent asked me to short sale their home. Under contract at the BPO price and EMC is stating they will pay no commissions at all since work for the same company. I understand a reduction on dual agency, the buyer is the current tenant and I handled it for him, but nothing because we work for the same company? Seems extreme to me. Thanks.

Comment by Jeremy Eide on August 26, 2010 at 5:49am

thanks kyle!

Comment by Kyle Souza on August 26, 2010 at 5:01am

The ones on their website (Chase website) are probably the best. If you download their package it has the info on there.EMCShortSaleFull.pdf

Comment by Jeremy Eide on August 25, 2010 at 3:35pm

anyone have some concrete fax numbers for auth and package submission?

Comment by Ben Benita on August 23, 2010 at 1:10am

Jennie -- I believe EMC is now also Chase, contact the Chase executive office, send them a copy of BOTH approval letters and ask them about the language.

If you get nowhere, contact the Investor on the note directly.....you may have some negotiations and bluffs forthcoming, but, it is always possible to get language removed.

I would also "gently" remind your Seller that the same consequences ar epossible if they just let the home go to foreclosure.

I STRONGLY suggest any agent we work with go over the consequences of a short sale and ALL possibilities therefrom.

If your Seller takes major issue with any of the consequences, consider not taking the listing......we all know what "fun" short sales are, and, to get to approval then have your Seller REFUSE to close over deficiency language is just tragic.

You can contact me at [email protected] if you want a copy of the Pre-Listing Questinnaire I have agents use.

Comment by Jennie Blackburn on August 20, 2010 at 3:28am

We got approval letter from EMC good through end of July with language releasing the lien and forgiving the debt. Then there was a hiccup with the Buyer's financing (as there seems to be on all Short Sales these days) and we had to change the HUD some & push the closing date to the end of August, but EMC's net stayed the same. The negotiator was very helpful throughout the process and our hiccup. Problem: The new approval letter's language specifically states that they do not forgive the debt. I've asked nicely that we use the old language, but the negotiator says she couldn't if she wanted to, because it's a boiler plate document that the EMC system spits out automatically.

Any suggestions?

Comment by John Y. Hong on August 18, 2010 at 11:39am

I am about to initiate short sale with EMC. Thanks in advance.

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