Chase + HAFA incentive = $33,000 for my seller! Now RTR wants the $30,000.00

I have seen a like thread here and need to see if any other agents can offer some solutions.

Chase has approved my clients short sale with a $30,000.00 incentive from them plus $3,000.00

from the HAFA program. The second is with Real Time Resolutions. They also have approved the short sale. Real Time Resolutions put a condition on their approval. They will issue the approval only if they can get the incentive money ($30,000.00) they will not allow it to be given to the seller. They also offered a second solution. Have Chase remove the $30,000.00 off the table completely .

This transaction is in Calif and by law the seller can not contribute any funds.

The seller was relieved of this debt via a BK and the second has allowed $6,000.00 to RTR which is the maximum allowed.

 Angeline with Real Time Resolutions states that they have never allowed the Chase incentive to be paid to a seller. I can't believe her. 

Can anybody offer my some ammo to get back to Angeline at RTR with.

How can they afford to settle for ZERO if this short sale fails. $6,000.00 is almost 10% of the amount owed to them.

How about it,any ideas? Does this make any sence to you? 


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Contact the social media team on twitter at @BofA_Help  They will help you out.

But it's Chase?

Good luck to you.  This is why the Banksters continue to drive values down. They have no common sense..

Contact your negotiator at Chase. I am sure this is not the first time the Chase short sale department has run into this problem. Your negotiator may have some ideas on dealing with the second. Good Luck


That's odd.  If the first is short and they are still giving away $30,000, it's the first's money and not RTR's to begin with.  Chase is accepting less, not RTR.  Either way, it sounds like RTR's getting 10% by doing a short sale versus the alternative.  I haven't come accross that here in CT....  Pls let us know how it turned out and what you did to move it along...  Thanks in advance...Tom

I am in Oklahoma, but we were able to negotiate a payoff with them equal to 13% of what was owed on the second on three different loans, that seems to be the magic number. I don't the total amount of your second but RTR does negotiate even when they say they don't. Start at a lower amount and be firm with them. The lady should be sending your offer upstairs.Unfortunately, they are a glorified collection agency.

RTR is one of the most aggressive collators in the industry. They are servicers of nonperforming mortgage loans. Investing in non performing 2nd liens is a growing business. Post foreclosure they aggressively pursue the borrower for payment. Hedge funds are acquiring large portfolios of these types of loans and hiring companies like RTR and Wing Span to collect the debt. The debt is purchase for pennies on the dollar. The end game is to package the restructured loan into securities for long term cash flow.  



You said "The seller was relieved of this debt via a BK and the second has allowed $6,000.00 to RTR which is the maximum allowed" Is RTR the 3rd? Who is the 2nd?


I suggest you have the BK attorney craft a letter to RTR Legal Dept reminding them their debt was discharged in the BK (if it actually was).  I would also have an attorney write to RTR citing SB458 which does not allow for the lender to request a contribution or promissory note as a condition of short sale approval.  Of course the alternative RTR has is to not approve the short sale at all. 


Find a way to record the telephone calls (I use Ring Central).  RTR uses some pretty aggressive methods to collect and what they really want is the $30,000 and then they will come after some of your commission as well.  The "negotiators" are paid on how much they collect so they are looking for blood from a stone and that $30K looks very tastey to them.


I don't take any short sales with RTR as one of the lenders after losing $15,000 in commissions on one deal.


Good luck,


Thom Colby


Newport Beach / Palm Desert CA

What's the secret password to get the $30k Chase seller incentive?

Yes, I would also like to know how Chase decides who will get $30,000? I have completed several Shorts Sales with Chase but no $30000 yet. Yes one of our realtor got $30,000 for his client, That was initiated by chase itself.

I beleive Chase just sends out random lettters.  Almost looks like an advertisement. My client almost threw it out. I will upload a copy  It just says 






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