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Latest Activity: Oct 27, 2022
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So...
-this>> Phone 888-369-2301 x12345
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WAMU (Now CHASE) missing document Fax 206-494-4666
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Chase Short Sale Forms
**On the package IRS FORM 4506T - Check boxes 6A and 6C and on blank line 6 write "1040"
Started by Joyce Freese. Last reply by James Franko Sep 7, 2021. 3 Replies 0 Likes
Started by Bob Helmig. Last reply by Tony Morales Jul 25, 2018. 1 Reply 0 Likes
Started by Tony Morales. Last reply by Minna Reid Oct 31, 2017. 9 Replies 1 Like
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Also, did the listing agent state that the buyer must pay a negotiator fee?
The question is ..Is the seller giving any credit/concessions to the buyer for closing cost or anything else?
Has anyone had an issue with chase wanting fees removed from the buyers side of the final HUD after an initial approval was received. The buyer is paying a neg. fee and Chase is say the investor "USDA" will not allow (it is not being pd by concessions). We call USDA and they say as long as concessions are not paying the fee they don't care. Chase will not back down. Any ideas - this closer and supervisor and going to cause this short sale to not close. Legally the buyers can pay anything they want to on the buyers side of the HUD as long as the sellers concessions are not paying them right?
Melissa that is not correct there is no specific percentage. The net is determined by the investor, not CHASE. Investors have different guidelines on the net they require and they consider more than just the value in their counter. If it is an FHA short sales than they use a percentage usually 88%. If your property is in a market where prices are increasing then the bank knows that and they want an offer at or near current market value
Does anyone remember the % to "bpo/appraised" value Chase likes to get, in order to approve a regular conventional/jumbo short sale? Example: offer 650K, bpo came in at 690K, so they "soft countered" asking if buyers would come up at all...think they used to want 92% of value...but possibly 88-90%, anyone remember or have good intel? Thanks
"Highest and Best" in Chase Equator form by buyer closing costs.. interpretation?
The 2nd is with Chase and Nationstar now has the 1st it was with B of A that's what started the delay in the 1st place when B of A serviced released the loan last year. They are in a Chapter 13 with a 5 year plan that they are now 4 years into it and have been making payments to the trustee. We got the motion to sell in May, since Chase has been part of the BK as it stands now on the HUD there is $2500 allocated to go to them since they will continue to receive payments for another year. The problem has been Chase has just let the file sit and when they assign it to a listassit the file continues to sit. I've gotten their twitter team involved and the file has been reassigned 5 times. It's crazy. It still not with a negotiator. Nationstar just submitted the file today for approval which I told them is a bit premature since we aren't getting any where with the 2nd. Even though the social media team seems helpful this process is taking way too long. I've closed many short sales with Chase and have had to go up the chain before but this is getting to be a joke. What I need is a lien release short sale approval so we can finally get into escrow.
So is this a 2nd mortgage with CHASE? who holds the first? Is it HAFA or traditional short sale? Are you asking them to release with no proceeds? Also even after discharge of the debt, the lien remains unless the attorney filed a motion to remove it which normally gets an opposition from the secured creditor. I'm in Calif. let me know if I can assist you I am licensed
Tony Morales
TM Short Sales Consulting
We have the motion to sell have had that since May.
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