I am sure many of you have experienced these horrible short sale stories, but this one needs to be told, and all of us need to know what this bank is up to. Perhaps we can even refuse to work with them in future? This might be boring to read as I will give you the chronological details of the process that took place.
It all started on March 10th when I contacted the bank and asked the specifics details on their short sale package. I collected all documentation for them, from the seller. Chase wanted me to "fax" the 102 pages? Are they living in the dark ages technologically? I then contacted them about every 2 -3 days to just get confirmation that they received the package. It took till March 26th before I received a confirmation.
On that date, a person confirmed they were entering the documents received in their "system". Not sure what that system is, but I can tell you now it is not working. Between March 26 and May 11, I spoke with 9 different people from Chase. I have no idea what they do, but the result was"nothing". On May 17th I spoke with a person who informed me he would do everything possible to process the file "urgently". He had "just " received the file on his lap. It is now June 1 and I still do not have an approved short sale from Chase, who was going to process this file in priority. I also found out on May 17th that the person I was referred to by one of those 9 people, was actually not working in that department anymore for the past 5 weeks???? They simply have no clue who is supposed to do what and when. So again, what "system" are they using?
Today, I am still awaiting a reply from Chase on this $14,800 second for which they will get $3,000. Chase even sent out a real estate agent to do a BPO on this property, wasting even more time. Knowing the first lender was going to sell at half the loan amount, and forgive abouyt $170,000, why even do a BPO on a second? It simply means that Chase is not interested in helping their client prevent foreclosure. What I discovered is a bunch of incompetent people, with no authority to make a decision anyways, and an incredible stupid business process at Chase, all leading to NOT accepting a short sale and help their client.
Chase might possibly be the worst bank to work with on short sales, eventhough they will get in this case $3,000 more than will get on Fridat when we foreclose.
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