Buyer wants to add a "co-borrower"

Conditional Approval letter just received, and now the buyer wants to add a "co-borrower", as the counter offers have left him a little short of funds. The Conditional Approval states "No substitution of the Seller or Buyer can be made prior to the close of escrow, or Chase will cancel this approval without further notice".

We're not substituting the Buyer, just adding another name to the HUD and contract. Anyone found this to be unacceptable to Chase?

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Permalink Reply by Donny Piwowarski on July 29, 2013 at 6:12am

Hi John Ive done in this in the past with Chase by doing a contract addendum and sending it over to them with an explanation. Adding a buyer happens all the time and I've hadn't had any experiences with them rejecting it

Permalink Reply by John Parr on July 31, 2013 at 3:33am

Thanks Donny!

We'll give it a go.

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