Forum

Chase / Freddie - Will they pursue the deficiancy.

Posted by Miriam on October 5, 2011 at 4:18am in Short Sale Discussions
In a short sale where there is $30,000 deficiency on a Freddie backed Chase loan. How likely are they to pursue a deficiency? Has anyone had luck having Chase/Freddie put into writing they will not pursue a deficiency. We have no money to bring to closing.

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

Email me when people reply –
Follow

Replies

  • Carmela Jacobs October 5, 2011 at 1:33pm

    I recently closed an escrow where the lender was Chase, they gave the seller a $25,000 incentive to short sell their home in addition to the $3,000 HAFA relocation funds.   The 1st & 2nd was through Chase and the short sale approval states they will not go after the seller to pursue a deficiency. I hope that will be the case with your seller but then again it's all on a case by case basis.

     

This reply was deleted.
********************************** like buttons ************************