chase short sale: A Great Result on a Very Hard Redwood City Chase Short Sale
- 07/14/12 07:41 AM
I have been working on a Redwood City short sale with Chase since last September. Now if this were 2009 this would be more like dog bites man rather than man bites dog. But it is 2012 and most short sales do not take so long. However, this one has a 3rd loan for a lot of money and it slowed the process down. Selling the property at market value was not that hard, despite being on a fairly busy street. We got an offer for $510,000 and a BPO for $510,000 so it started out ok. By December I had approval … (0 comments)
chase short sale: Sunnyvale Underwater Homeowners, Open Those Letters From Chase
- 05/17/12 11:25 AM
Many homeowners who are having trouble paying their mortgages will stop opening their mail from the lender. It is understandable to feel, what is the point? I can't pay and nothing they say to me will change that. However, if your lender is Chase you may want to open that letter. Chase is giving relocation assistance to some homeowners who are in default if they agree to short sell their home. The incentives can be anywhere from $2500 to $45,000. Not everyone will get this incentive, and there is no uniform way that these incentives will be offered. In other words, … (0 comments)
chase short sale: Chase Approves Another San Jose Short Sale
- 05/08/12 04:19 AM
Just got approval on another short sale in San Jose with Chase. They are getting to be one of my favorites! This was not straight forward. Client lost his job and was not able to make payments. He tried a loan mod but did not qualify due to having too much in retirement account. Client is close to retiring. Put condo on market and got 13 offers. The San Jose inventory for small affordable condos is quite low. Accepted an offer 30% over asking price, cash, with no appraisal contingency. Asking price was market value at the time of the listing. … (0 comments)
chase short sale: Chase Says Keep Trying For a Redwood City Short Sale
- 04/21/12 06:01 AM
I am helping out on a short sale in Redwood City where Chase is servicing the first and second loan. What this means is that the owner has first and second mortgages that were originally gotten from Chase. These loans were then sold to investors and Chase maintained the servicing. This means that ultimately Chase no longer makes the decision about whether or not to approve a short sale. The problem is there is also a third lender, and the third lender wants a lot of money to approve the short sale. The buyer agreed to pay the third what he wants, … (2 comments)
chase short sale: What I Learned About Chase Offering 3rd Liens From a Redwood City Short Sale
- 12/20/11 09:31 AM
I know a lot of you are going to think I am crazy but I really love short sales. I am sorry that the market is such that there are many people who need to sell their homes short, but that is the current reality. Given that reality there are many things about the short sale process that I enjoy, fewer things that I just tolerate, and even fewer I hate. I HATE PRIVATE THIRD LIENS ON SHORT SALES!!!! I can not emphasize this enough. 3rd liens are always tough, but private ones are the worst, because very often there is … (5 comments)
chase short sale: Menlo Park Short Sale and A Seller's 401 K
- 12/15/10 07:20 AM
I have a Menlo Park short sale listing that is in escrow. Chase was the original lender and is now the servicer of the loan. What that means is that after Chase made the loan they sold it to another investor. It could have been sold to Fannie or Freddie, Wall Street, another bank, or an individual. The important thing to remember is that this investor is The Decider. The wonderful negotiator at Chase does not get to make the final decision, the investor does. Now if you have a loan with Chase and have gone onto their web site to … (2 comments)
I have been working on a Redwood City short sale with Chase since last September. Now if this were 2009 this would be more like dog bites man rather than man bites dog. But it is 2012 and most short sales do not take so long. However, this one has a 3rd loan for a lot of money and it slowed the process down.
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