Chase letter won't waive anti defiency
Had quick smooth short sale with just one loan with Chase. Purchase money will seller having legit hardship for medical reasons. Approval letter comes back with form wanting seller to sign that they remain liable for any amount still owed on loan. Unreal. In Arizona we could let the house go and they would be fine. Try to do the right thing and they want to punish them. Caling resolution department. If anyone has better idea or has similar story, let me know.
Replies to This Discussion
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Permalink Reply by Michael Hayley on
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It's time for salesmanship. "Seller will only sell if released from deficiency. Otherwise it is in his economic best interest to defend foreclosure. Seller has found a buyer, for a good sale price and is willing to transfer ownership in a cost efficient way. Seller has a legitimate hardship... blah, blah, blah. It is in Chase's economic best interest to accept the short sale with release from deficiency. So, let's do the right thing, release him from deficiency and we'll close now".
One other thing, find out who is the investor and appeal to them also, but only if appeals to Chase have failed.
Good luck!
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