Homes in Hollister CA – The Stop Foreclosure Institute recently received a question about short sales. Here's the question.
"What is your experience with Chase Heloc's? I have a HELOC that is a second mortgage. Citi (the first) will give them 6% or approximately $3000. Chase's collection agency is saying that they want 30% ($30,000.)
"They won't budge. They want this in CASH, not as a promissory note (in case the seller does a bankruptcy). They are telling me they will just let the house foreclose because that is Chase's policy now. What do you recommend that I do?"
Get my Free, Step-by-Step Loan Modification Guide by clicking here.
Here was our answer to the question. Most third-party collection agencies are very tough to negotiate with. They are completely unreasonable.
They're so trained to give ultimatums that they will not budge, no matter how much logic and common sense you bring to them. Here's what you can do.
Go around them. Contact Chase’s CEO. We have been able to contact the CEO of Chase, Jamie Dimon’s, office on other Chase files. Show them that they will receive less in a foreclosure than the $3000 available now.
Hopefully they will tell the collection agency to approve the $3000 deal. If that doesn’t work, then ask to speak with a supervisor at the debt collection agency.
Show how they will actually net zero when the property is foreclosed upon. Tell them they have to either approve the $3000 or take zero.
Tell them that rejecting the $3000 means their client will net zero. Then tell them that after the property is foreclosed upon, you will contact their client and let them know how the collection agency’s actions caused them to lose $3000.
Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (831) 636-8858.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification?Our Hollister loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail to israel@ighomes.com to request a Free Copy.
Or, click here to request a copy.
Thanks for reading this.~Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858. israel@ighomes.com.
View My homes for sale at www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Gonzalez's personal views and do not reflect the views of Beale Properties.
This information on "Hollister Short Sale: I'm Having a Hard Time Negotiating with a HELOC" is provided as a courtesy to our readers to help them make informed decisions.
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