Stuck on negotiations with Chase on 1st and Real Time Resolutions on 2nd-- HELP!!!

Hi everyone, what a great website! I am in an ugly situation with Chase on the 1st and RTR on the 2nd. Chase approved HAFA short sale in November, and RTR wanted $27k to release 2nd. Chase would not allow that under HAFA and would not allow any buyer/seller/agent contributions. Then we took it out of HAFA, RTR now wants $17k, but Chase will only approve $5820, and won't allow any buyer/seller/agent contributions. I don't know who the investor on the 2nd is, but I do know that RTR got the loan from Nationstar last year. How can I keep this deal going? Any advice would be greatly appreciated!!

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Permalink Reply by Cricket Yee on February 23, 2012 at 2:17pm

I don't know. How do I find out?

Permalink Reply by Jessica on February 26, 2012 at 5:25am

On line you can look it up: Fanniemae look up who ownes my loan

or freddie mac look up who owns my loan

 

David Rosas is the head of Short Sale A RTR 1-877 840-7794 ext 6546

Also Heather Jo is a supervisior her extension is 6546

If you can not through call the switch board 1-214-599-6363 and ask them to put you through

How close is the home into sale date of foreclosure...

Permalink Reply by Rita Cox on February 26, 2012 at 6:00am

Thank you Jessica. I hope I won't need it for my transaction with RTR but it is good to know.

Permalink Reply by Cricket Yee on February 26, 2012 at 8:21am

There's been no NOD filed, which is the good news. With RTR I can only email-- I've never spoken to the negotiator-- I have asked for the investor twice, and they ignore me. I suspect Chase actually owns the 1st, as they offered a large incentive to my client to do a short sale. Unfortunately, 2nd will not allow him to take it. Thanks for the links, I will check them out.

I did get a hold of our new negotiator at Chase on Friday, she was completely uncooperative and horrible. I am going to request another.

Permalink Reply by Joel Fajardo on March 23, 2012 at 10:04am

you wrote the same extension number for both Heather and David. Do they share the same line, or do you have a different extension for one of them?

Permalink Reply by Cricket Yee on February 23, 2012 at 7:59pm

OK, I will call and find out. Thanks!

Permalink Reply by Rita Cox on February 24, 2012 at 6:34pm

I have the same basic situation - Chase is the 1st and RTR is the 2nd. The house was originally purchased for $125k but will now sell for about $35k. Chase is considering the seller for HAFA which would work better for RTR because at least they will get about $4k with the balance going to HOA.

My  question is - how responsive is RTR; I can't even get them on the phone. All I get is voicemail. Did you have to have written approval from Chase before they would begin to work with you. Anything you can tell me would be greatly appreciated.

Permalink Reply by Bryant Tutas on February 25, 2012 at 12:30am

The first thing you have to do is go the RTR website and download the short sale package and get it submitted. Once you do that they will assign a negotiator within about 10 days. You won't get through to anybody until this is done. Then things should move OK. Warn your seller that RTR may not allow the seller to get any money at closing. HAFA may not be worth it for this reason.

Permalink Reply by Rita Cox on February 25, 2012 at 2:22am

Thanks Bryant. With the price point being so low, RTR will only get about $4k no matter what program the seller goes through. At $35k, there is only so much to go around. But it is good to know that someone has dealt with them before with some success.

Permalink Reply by Jessica on February 26, 2012 at 8:10am

You asked for assistance why would you not make the phone call

Permalink Reply by Rita Cox on February 26, 2012 at 8:15am

That was Cricket Yee that asked for immediate assistance and I am sure she will be making the call tomorrow morning. I have the exact same situation as she does with Chase as a 1st and RTR as a second. Your information will be valuable if I run into a challenge.

Permalink Reply by Jessica on February 26, 2012 at 8:33am

You just can not ask for a new negotiator..You have to go over their heads.

 

Chase is the serviser of the loan the note is most likely owned by Washington Mutual..if there is a NOD that was motioned by the bank that they most likey do not have the note. Check the docket, see who is on the servise list..Is there a HOA  are they involved in the foreclosure!!  That is the first time I have heard they will not take a seller contriubution.  They are also executive officers you can go to at chase.  Ask the neogiaiter to see the response from the lien holder!!  You have to be persitiant.

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