Hi all, I've got Chase on the 1st and Real Time Resolutions on the 2nd. RTR is not allowing the seller to receive the $20k Chase incentive, but the seller needs the $20k to help pay off what RTR is demanding to release the lien. I talked to a Chase supervisor, and he suggested that we leave the $20k Chase incentive off the HUD-1, complete the short sale, and Chase would cut a check to the seller directly after COE. Has anyone heard of or better yet experienced this?!
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HI Cricket, Can you tell me who is eligible for the $20k incentive from Chase or where can I go to get information on that?
Thanks,
Ludora
Chase "Prime Loans" meaning loans owned by Chase and not an investor
I read up on this and it is being offered on Chase Portfolio loans such as the one's they bought from WAMU.
He was sent a letter by chance-- I believe it is "invitation only."
If Chase is willing to do that then I would go for it. It doesn't need to be on the HUD because Chase is basically just refunding the borrower some of the principle.
I just has this exact same scenario with BofA as the 1st. They were not willing to send a check after closing. I escalated to the BofA social media team and they had their RTR liason contact RTR and within 12 hours I received an approval form RTR allowing the seller to receive the incentive form BofA.
The incentive is $12,000. So RTR CAN make exceptions. Remember RTR is a debt collector and are trained to play hardball. My negotiator had placed in big large bold print 100% NON_NEGOTIABLE!!. Well of course I just went around him and the deal was approved the way I needed it approved.
Stating something is non-negotiable is an amateur negotiator mistake. Once he said it I knew he was mine to control :)