Chase Short Sale : Just Initiated Into Equator

We've been hearing it a long time, but today a Chase representative actually initiated one of our files into equator today. Chase files will be initiated into equator similar to how GMAC does it. One cannot initiate it into equator themselves and will need the assistance of the short sale department. Let's hope their equator system moves smoothly!

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Comment by Steven Angelil on October 16, 2012 at 3:29pm

No Brett that is the reason my borrower is ineligible for the HAFA relocation funds.  She moved out of the house a couple years ago.  Home is vacant so no eligible tenant either.

Comment by Brett Goldsmith on October 16, 2012 at 3:22pm

Does your borrower still occupy the property or is there a tenant in there?

Comment by Steven Angelil on October 16, 2012 at 3:20pm

Hi Brett, yes that was the last document my borrower completed.  Wish my buyer would have qualified for a Chase incentive as well.  I would have liked to see her get some money because I know she could use it.  But it still is going to be a good deal for her to be rid of an over $300k mortgage w/ no deficiency judgment allowed.

Comment by Brett Goldsmith on October 16, 2012 at 2:51pm


   I'm sorry to hear that. Did your client complete an ARASS? I actually had a file that went through HAFA with Chase, but they did not get the relocation incentive of 3,000. Luckily they qualified for the 20k chase incentive.

Comment by Steven Angelil on October 16, 2012 at 2:48pm

Good luck with your Chase short sale Brett.  I'm working on a short sale with Chase in Pembroke Pines, FL and was just waiting for Chase to send an updated approval letter.  During the whole transaction my client made it clear she did NOT live in the property.  All the while Chase was advising she still would be getting the $3,000 HAFA relocation assistance.  Now they need an updated HUD settlement statement showing she is NOT going to get the relocation assistance!  Even though I've prepped my client it is going to be tough to tell her she isn't going to be getting the $3k.


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