Juan Manuel's Blog (1)

Contribution to grant deficiency waiver

I have a SSA specifying that borrower is still responsible for the deficiency of the original loan.

I called Chase to get this removed and they are now requesting a contribution of 20% of the loss (close to $ 30K in my case) to grant the waiver. They also stated that will evaluate any "reasonable" contribution.

This is related to a primary home, one mortgage (never refinanced) and it seems really unusual that they are requesting this 1 month away of the proposed closing…

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Added by Juan Manuel on December 11, 2010 at 7:34am — 1 Comment

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Juan Manuel's Blog (1)

Contribution to grant deficiency waiver

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