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short sale super stars need help with Chase ss in active BK-

Posted by Adda Pina Renner on July 24, 2013 at 10:05am in Short Sale Discussions

I called Chase BK dept and was told all I needed was a permission to speak letter from client's attorney so I can move forward with short sale approval, once I have approval from ss bank I can sent to trustee for approval.  Is this the correct process?  Every time I call, I get different information...I would greatly appreciate input , thanks in advance  Adda R 

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Replies

  • Wendy Mendez July 28, 2013 at 4:16am
    Hello Adda, I'm a Speciality Real Estate Paralegal within the Bankruptcy and Foreclose arena who assists several agents with these types of situations. Either in a Ch 7 or Ch 13 bk, the Debtor and Debtor's atty will need to prepare a Motion to Authorize Short Sale Regarding the Subject Property. The motion needs to include pretty much the shortsale package minus any personal identification numbers. There will be a hearing if nobody objects the order is entered. Chase or any bank will proceed w/short sale. Also a letter authorizing Debtor's agent to talk to Chase will not work. Its not sufficient approval. Additionally, if Debtor does not have an atty, the motion still needs to be prepared.. I can assist either the attorney, a borrower w/no attorney or agents who need the help. Also, I work close with Ocwen who is a big servicer for probably many properties you may come across. If you need additional info, call me Wendy (Temecula, CA) 951-358-9942. Hope this helps.
  • Jonathan Katz July 24, 2013 at 10:09am

    Adda,

            They are requesting a letter from the BK attorney allowing you to speak on behalf of this file. Depending on the status of the BK they may require additional paperwork to move forward with the short sale. Some servicers do not proceed forward while there is an active BK on file.

    Brett@ishortsalenow.com

    310-564-6389

    www.ishortsalenow.com

  • Jeff Payne July 24, 2013 at 10:08am

    Permission to speak from the clients attorney?   Most likely you need an authorization to release information signed by the borrower.  Once you get approval, yes you will need to get trustee approval and that is usually very easy as the trustee is more than happy to approve it. 

    Why would you not be working with the Chase short sale department?

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