Chase Incentive Only Short on the 2nd
1st and 2nd serviced by Chase, Fannie Mae 1st. Initial BPO indicates there will be enough to pay 1st in full, closing cost, and approximately 20% of the 2nd
I was able to get $20,000 in incentives for my Seller on my last Chase transaction, but have been unable to get a definitive answer from anyone at Chase on this transaction. Has anyone competed a transaction similar to this and received an incentive for the Seller? Are the rules different if you are only short on the 2nd?
Replies to This Discussion
-
Permalink Reply by Wayne Brooks on
-
The $2k HIN is rare. But more importantly, no short sale on the first, no short sale incentive from the first.
-
-
Permalink Reply by Kathleen Sheridan on
-
No incentive with a 2nd. My experience in this situation is that the 2nd is happy to be getting paid something, will allow other liens to be paid if necessary,
-
-
Permalink Reply by Ben Benita on
-
ALWAYS and ONLY depends on who the Investor is on the note.
Chase WILL pay up to $30,000 in relocation money and also pay up to 8% commission on their portfolio loan short sales.
You can email me directly at - [email protected] if you need more info. on this, how to find out who the Investor is, and which other bank pays 8% and which big bank pays up to 30%!!!
FNMA apparently is the Investor on your first (they generally will only allow up to $3000 in relocation money).
-
© 2024 Created by Short Sale Superstars LLC.
Powered by
**********************************
like buttons