1st is Bank of America $532,000 with a Chase HELOC $100,000. HELOC is at Professional Recovery Service who I believe is a specialty servicer and did not buy the note.
We have approval from the 1st with $6,000 going to Chase. The 1st would not allow 3rd party contributions but we just got an exception.
The buyer is now allowed to contribute $5,000 to Chase so it will net $11k. Buyer is actually willing to pay Chase whatever B of A won't.
B of A has given multiple extensions and will not issue any more.
Auction is in May so should we say “Go and Foreclose” and see what they do next or do you have any high level contacts in Chase Recovery so we can escalate?
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