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On November 9, 2010 my in-house short sale negotiator, Patrick Aladadyan, submitted a short sale offer to Chase! The offer was for ALL CASH for $210,000. On December 3rd, I received a call from the assigned negotiator that the "investor" did NOT want to entertain the short sale offer and would proceed to foreclose on the property. I politely said thank you to the negotiator and stated that we would be contacting Freddie Mac to see what they had to say about the file. My negotiator, Patrick Aladadyan, has a handful of contacts @ Freddie Mac that have been helpful in the past and decided to send them an email along w/ the complete short sale offer.

Here's the email that was sent to the contacts @ Freddie Mac on Dec 2, 2010:

"Hello…

I'm currently working on a short sale with Chase; which is a Freddie Mac owned loan, and was notified today that the "Investor" has declined to extend the sale date of 12/13/2010. I currently have a ALL CASH offer to purchase this property for $210,000. This offer will net Freddie Mac, $179,185.44. I've attached a Foreclosure vs. Short Sale Calcutions showing the the benefit of a short sale; which is currently @ 0.74 on the dollar as apposed to 0.68 on the dollor on a Foreclosure. I've also attached the offer of purchase and proof of funds showing the buyer has the funds to purchase the property ALL CASH. Furthermore, I've also attached the online printout verifiying that this note is owned by Freddie Mac along with the HUD reflecting the net to Chase/Freddie Mac. Please let me know if you can assist in this matter…it's a mutually beneficial transaction for everyone involved.

Thank you in advance…!"

Received an email back from our contacts on Dec 3, 2010:

"Thank you. We will reach out to you today to better understand these issues. Let me know what time is good for you. Someone from my team, who works directly with Chase on a daily basis will work with you on this issue."

Received another email correspondence back from our contact on Dec 14, 2010:

"We met with Chase today and your short sale issue is being researched...T., will you be on point to keep Patrick posted this week since our teams work through this issue behind the scenes"

Received Short Sale Approval from Chase on Dec 23, 2010:

Please see attached approval letter w/ the initial fax cover sheet verifying the date of short sale submission to Chase!

Fax Cover Sheet: Di4701101061459.PDF

Chase Short Sale Approval Letter: Di4701101061458.PDF

The point here is that you should "NEVER" give up and think of ways outside the box to get these short sale transaction successfully negotiated and closed!

Thank you...Jennifer Escobar @ Qwest Real Estate

My BLOG: www.Glendale-ShortSales.com