Chase help

Hi All,

 

I have a Chase file that has an offer on it all the paperwork is in and the hardship is divorce and the BPO has been done and now chase is declining the file due to the homeowner not missing a payment.

My client wanted to do damage control to his credit, he has now decided to miss a payment as the negotiator is saying he has to be delinquent. The file is now on a soft decline.

Has anyone had this problem before with the Chase investor declining a short sale due to homeowner being current on payments even though very soon payments will be missed due to the divorce.

Any solutions and reccomendations to this problem would be great...

 

Regards,

Julian

Views: 129

Replies to This Discussion

Permalink Reply by SE Davis on May 7, 2012 at 9:13am

Yes this is one of the unfortunate inconsistencies in large banks short sale processes.

This is probably an under the surface condition from an investor or PMI specific company decline.

Your borrower seller is probably recieving something more specific in the mail from your lender. Be sure that they send you a copy of it so that you can analyze it more carefully.

 

Permalink Reply by Satar Naghshineh on May 7, 2012 at 11:04am

Have the seller not pay on the first. On the 16th, now that the seller has missed a payment, see if the negotiator can then move the file forward. If the negotiator can, then wait till the end of the month to make a payment. That way the file gets moved to investor and hopefully approval and your client doesn't have a mortgage late on their records.

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