I am hoping someone here can offer some guidance. I need to contact Fannie Mae about this as soon as they open today so if anyone has a contact other than the standard number PLEASE message it to me.
Closing was complete on January 7th. Wire sent to Chase, and one to PHH who was in second. PHH was playing games by providing multiple approval letters. They approved us to receive the 6K standard payment via a letter on 12/28, then miraculously another approval letter for 6K PLUS another 9K totaling 15K was sent to us two days before closing but dated on the 28th of December, the same as the other one. Unfortunately the title company closed with the 15K letter and wired 15K to PHH when it should have only been 6K. They realized their mistake and got the 15K BACK from PHH and corrected the amount, and re-wired. However in the mean time, Chase got a hold of the wire confirmation for 15K and subsequently declined the entire deal and sent our funds back. They have now sent them back TWICE and refuse to talk to us or offer any kind of resolution.
We have a family living in the home, children in school, etc... and the title company now want to "unwind" the deal? I realize that the title company is ultimately responsible for providing clear title but as the agent I am being threatened with lawsuits every which way. I need help and I need help quickly. I cannot allow Chase's arrogance and unwillingness to clear up the mistake to cost me tens of thousands of dollars.
**********************************
like buttons
Replies
the same situation is with my friend I'm also worried about him if your problem is solve please share it with us thanks.
My Hard Money School
I am a certified forensic securitization auditor. I work with several law firms and agents to help close their short sales by the use of RESPA, HOPEA, Chain of Title issues, invalid mortgage assignments, wrongful foreclosure actions and other violations. Chase is THE BIGGEST violator of this.
This applies to all servicers- not just Chase.
I have helped hundreds of cases in foreclosure defense, and close short sales and modifications through the use of these audits.
Please contact me to find out more.
Thanks
Will
Have you spoken to the closing officer at Chase who was assigned to your transaction? What figure was approved during HUD approval as a payoff to the 2nd lien? Was it 6k and then escrow/title still wired 15k to the 2nd?
There are a lot of questions, but I agree with Brian, you need to escalate the file hard at Chase and open a case up with Fannie Mae using homepath.
If you have any questions please let us know as our door is always open.
Brett@ishortsalenow.com
310-564-6389