Chase SS and Bankruptcy question
I have a very large deal in Palm Springs which I do not want to lose for the life of me. The homeowner had to file BK to postpone the foreclosure sale date which is now set for 12/22. She really does not not want to perfect the BK and I just need to make sure that the sale on 12/22 will be postponed to work out the short sale. If I get her to withdraw the BK, is Chase consistent about postponing the sale dates for the short sale workout?
Any help on this is much appreciated!
Any help on this is much appreciated!
Replies to This Discussion
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Permalink Reply by Thom Colby CA Brkr 888-391-5245 on
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Here's the deal..... none of the servicers are postponing trustee sales {any longer} unless there is a signed and accepted offer with an approved buyer in writing - in the servicer's hands (Chase). The buyer has to be solid-as-a-rock and you're just looking for aditional time to close the sale. If you are the Listing Agent, check with Chase to see if the TS has actually been postponed - they can tell you. Also, you might check to see if there is a Chase Homeownership Center there in the Desert. There are 10+ centers throughout Southern CA to help homeowners through this process.
Best of luck,
Thom Colby
Broker
Newport Beach CA -
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Permalink Reply by Timo Ketola on
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I apologize for leaving out that yes there is a solid ALL CASH buyer with proof of funds etc. They are reviewing the offer now and I just want to be sure that they will postpone the sale to review properly before having the seller withdraw the BK. Trustee sale has been postponed to December 22nd as of now and rather than having the homeowner perfect the BK (which she doesn't need for any other reason than this) I would like for her to withdraw it and we move forward with the short.
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Only her attorney can give her the advice to take it out of teh BK or not. If Chase has setthe sale date at 12/22 and they are reviewing an all cash offer now, you will either get a counter, an approval, or a denial by that date. If you get an approval, they may postpone the sale date in order for you to close BUT, they also may not. Wish I could tell you something more definitive.
Did you work with the Chase "List Assist" Group - they have full control of the TS when there is an offer pending. Chase List Assist # is 866-233-5320. I'm working with them on a couple of transactions in OC and the Desert.
Best of Luck,
Thom Colby
Broker / Negotiator
Newport Beach CA -
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