An agent in my office has asked me to step in and help try to save his short sale that is sinking fast and I need your advice. Only one mortgage (with Chase), Fannie Mae is the investor. Cash offer at a decent price was received May 5th and listing agent submitted all docs to Chase and was working it through Equator. Equator messages said BPO's were being reviewed and requested updated financial docs from seller. Listing agent and/or seller dropped the ball and didn't provide docs so Chase closed out the request June 5th.
I step in and get docs from seller and fax to Chase on June 14th. I called Chase who tells me that a foreclosure sale date has now been set for July 16. The first rep I talked with said he would send an email to the previous processor to see if she would reopen the short sale request that just got closed out, and she would call me (sure she will...). So I called back today, and the rep gets someone from the list assist dept who tells me she was emailing an escalation request to Fannie Mae as we spoke to get the file reopened but that it can take up to 7 days for that to happen. I don't have 7 days, as buyer says he won't extend past 6/30 without an approval. Any advice for who I should call at this point, and anything specific I should say?
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Go direct to Fannie Mae. Here is the link to the short sale assistance desk.
What he said... There are some Fannie escalation numbers, you want to get to level #2 asap...where are you located as in what state??? I would be working on a strong back up offer for the wings as well...email me at [email protected]
Thanks Fred and Jan. I've sent you an email Jan, and appreciate any other thoughts you can share. We are in Delaware.
Escalate the file ASAP on:
Call Chase executive offices ASAP.
If you email me - [email protected], I can give you some of our contacts (we don't post them on public forums).
We can also get authorized and step in to help......no "guarantees" on results, but I CAN guarantee if it can be stopped and taken to closing, we can make that happen for you!!!
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