New Chase Incentive. $10,000 to $20,000 to the Borrower and NO deficiency!!
Hi folks. I had a seller call me earlier this week needing a Short Sale agent ASAP!! He hasn't made payments for many months and had actually already moved out of the property expecting to be foreclosed on any day now. Chase sent him a letter and fortunately instead of just throwing it away thinking it was another collection attempt he opened it.
Inside was an offer he couldn't refuse. Stay in the house, maintain it, bring them a contract at FMV (fair market value) and they will approve the short sale within 10 days and give him $20,000 at closing for moving expenses!!!
AND...he doesn't have to provide any financial information. No back statements. No financial statement. No tax returns. No hardship letter. Just a listing agreement, contract and a HUD. At least this is what I was told. Should be interesting to see how it plays out
Comment
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Comment by Dawn Barrier eXp Realty Vegas on January 5, 2011 at 12:22pm
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Wow, I have heard of maybe $3k, but 10-20 wowowo1!
Hope it pans out keep us posted~!
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Comment by Mike Pence on January 3, 2011 at 3:22pm
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Similar situation for us, and we got the same letter from Chase, except for $10k. We called and they assured us the same thing, no hardship docs or financial info. required and we are pre-approved for short-sale. We kicked things off with an agent, but then someone from Chase called and said we had to do the hardship letter/send financial info. and that the first person had told us incorrectly (three times on the phone btw).
So as of now, they said they were going to cancel…
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Comment by Thom Colby CA Brkr 888-391-5245 on December 30, 2010 at 5:13pm
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Bryant - Good luck on that ! That's the way all of the Wachovia deals are being done here in CA. AND, there's a 1% bonus to the Listing Agent if it's closed by 2/28/2011 !! Now that's what we need - get the inventory moving and embrace the REALTORS.
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