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anyone out there completed a Chase ss that is active in bankruptcy??

Posted by Adda Pina Renner on July 24, 2013 at 10:18am in Short Sale Discussions

I've negotiated tons of short sales, however none have been in "active bk". I am reaching out to anyone who has completed a chase short sale in active bankruptcy. Thanks in advance for your help.

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Replies

Wendy Smith July 28, 2013 at 5:27am

i have done two short sales with Chase, the borrower was in active CH13 bk. Chase was servicer as well as investor on each.
DAVID REEVE July 28, 2013 at 1:22am

I have closed 3 different units which were in different stages of the BK. 1.) The obvious is that you have to have the approval of the trustee. 2.) you need to make sure the attorney for your client sees value in this, otherwise he will talk his client out of it 3.) It is likely that the trustee will need to see the settlement statement to make a decision. It is possible that the trustee will even approve of a relocation assistance, but it is also possible that he will require on the payment of outstanding debt if it is a repayment program. Either way, you just need to have enough time with the buyer and seller cooperating.......it can definitely be done.
Becky Martin July 27, 2013 at 6:24am

Yes, I have. I am trying to remember but I think we just got a judge to sign a court order allowing the home to be sold and Chase accepted that .....

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