Yes, it is true...Chase has launched a new program that they will pay home owners to participate in a short sale.

I had a meeting this last week with one of the VP's at Chase and we discussed this program and how they want to do Short Sales vs. Foreclosures.

This is how the program works....You have to have your primary loan with Chase and the property needs to be upside down (there are other qualifiers but we will keep it simple here).  They send letters to the home owners usually prior to a 90 day late...(So, it is CRITICAL that the home owners open all their mail from CHASE).  The first letter will ask you if you would like to participate in a Short sale, and if so you have 10 days to complete the tasks as outlined in the letter.  The first letter will offer home owners up to $45K at closing to participate.  If you let the 10 days go by then that offer is off the table.  See why it is important to open all that mail.

Then Chase may send you another letter asking you if you would like to participate in a short sale and to complete the tasks in the letter within 10 days but now the offer is going to be up to $35K...

So far, this is the only lender to my knowledge that is doing this program.  So, if you or anyone you know is getting letters from Realtor saying they can get the home owner $30K or whatever if they do a short sale through that Realtor that may not be correct.....beware!

Please forward this information to everyone you know.  And if you or anyone you know has any questions about Short Sales and what the different programs that are being offered to home oweners to keep their homes please contact me!

We don't want any of our friends, family, co-workers to be taken advantage of and given miss information.

Also, please visit my website www.robinhelpshomeowners.com for the latest information report.

Have a Powerful Day!

 

 
Posted by Robin Young Alain Pinel Realtors on 06/23/2012 11:00 AM   Comments (0)   Mortgage in the ActiveRain Channel  
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Robin Young Alain Pinel Realtors

Livermore, CA

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Alain Pinel Realtors

Address: 2300 First St. Ste. 316, Livermore, Ca, 94550

Office Phone: (925) 583-1111

Cell Phone: (510) 757-5901

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