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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There must be an uderlying reason why they are doing it.  The approval and closing process in these transactions is also very easy.  It leads me to believe that they must have issues with the documents and may not be able to foreclose.  The letter is usually issued after the filing of NOD...

I have had 2 30K Chase incentives. Chase sends out the letters, it is not random. I was told that homeowner have to have certain requirements per Chase.I think it has to do with not being able to foreclose or to foreclosure it would take longer than to short sale. Both of my clients had not paid their mortgages for over 1 year.

My current Chase incentive short sale  has 2 BK discharged 2nd and 3rd liens with Wells Fargo. I am assuming I will be in the same predicament as this thread. I am taking notes.

Chase only offers that incentive on Chase Prime loans, which they actually own.

I have a Chase incentive right now with Wells Fargo 2nd and 3rd. Wells will be getting 6,000 from the maximum HAFA incentive. My client was offered 20K from Chase.  Wells does not want the seller to get any money from the sale. I talked with Chase and they will not allow any of the incentive to go to Wells.

I have asked Wells to escalate the file. By the way, my clients also did a BK in Ca. Wells will get nothing if my client forecloses. Stupid I know! I am pushing hard. My client will foreclose if she can not get any of the incentive. No one wins then.

Good luck to you. Keep us posted.


Get the BK attorney involved.  It's unlikely teh Borrower will get any of the money without an attorney reminding Wells they were likely wiped out in the BK.  Wells will simply not approve the short sale.

After much work on this short sale file I finally received the approval letter from Real Time Resolutions.
Escrow is set to close by the end of the month.

This has been one of the most challenging short sales I have worked. 

I am working with RTR on a BofA short sale. Do you know any one to escalate it or the procedure to escalate as BofA 1st wants the transaction closed by August 3rd. Please let me know. They have offer 5% of balance to RTR.

Hi Sidney,

You said RTR gave you the approval for the short sale but I didn't see the final figure for the incentive to the seller. Did they get $33,000? Thanks for sharing.

Tim Hyde

Coldwell Banker Studio CIty, 8184068032


I had to drop out of HAFA to make the deal work.
Seller ended up with a $30,000.00 check from Chase.

RTR is a bully.  The only leverage you might have to beat them at their game is to work out a deal with the negotiator on the first (I did this a few years ago when I had a second who would not approve) Have Chase foreclose and wipe out the second, they get NADA. The negotiator lists the property with you and you sell it to the current buyer. There was no 'incentive' when my deal went through, so I don't know if Chase can or would be able to give the seller incentive through the 'foreclosure' or not. Since your seller already filed BK, both those liens should be wiped out anyway.. I'd talk with an attorney and try the threat if nothing else- Tell RTR to 'either take what the first is giving or we let it foreclose and you get nothing- and can't go after the seller because the BK protects them'  Good Luck!

Ron in Calif the seller can not contribute or volunteer funds to make a short sale work.

In my deal Chase would not allow any of the incentive money to flow through to the 2nd RTR.
But I was able to get them (Chase) after much hard work to also offer a separate incentive of $15,000.00
to RTR. That did the trick and my deal closed with $30,000.00 going to the seller.




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