Chase HELOC package submission and review

I have a sale under contract with the 1st and 2nd (HELOC) as Chase.  I faxed in 1 package with both loan numbers on each sheet and explained in my cover letter we were requesting review for both loans (provided 2 different HUDs also- 1 for HELOC and the other for the prime loan).

Negotiator tells me today he can only review the 1st and I need to submit the HELOC to a different dept.

Too late to call Chase today but I'm perplexed why Chase didn't bother to tell me this- and even more so what other package should I be sending- if not the workout package for the first but revised for HELOC #s.  Is there a different fax number for HELOCs- not indicated on workout package or in summary here. I cannot find one anywhere.

I was under the impression the negotiator would be working the 1st and 2nd since both with Chase but guess this is not case.

 

Thanks!

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Replies to This Discussion

Permalink Reply by Janie Howard on April 13, 2012 at 1:13pm

I have two different short sales with Chase where they hold the 1st on one and the 2nd on the other. The short sale where they hold the 1st they are absolutely amazing. It took a bit to get them the docs they wanted, but once I did, they had an approval in less than a week. But the one where they hold the 2nd (HELOC), I've gotten no response to the package I faxed in. So today I got a follow up call from them (for the 1st) and I asked about the other deal (HELOC), asked if I submit to a different department for the HELOC 2nd. Here's the number I was given to call for HELOCs which are 119 days or more late:  888-215-2800.  Hope this helps you too.  

Permalink Reply by Tara Samney on April 13, 2012 at 1:23pm

Janie,  Thanks- that was extremely helpful!

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