My last blog regarding Chase seems like an eon ago. I've been jumping from asset manager to asset manager as I've got one located in California and one in Texas on the same property. Both purchase money on the same home.
The 2nd (Texas) is sending out their collections department big time since they've learned we are negotiating a short sale and are days away from approval. I've had my Seller email me on several occasions idicating that they used her short sale package (pay stubs) to hunt down her work phone number and are now calling her at work.
The problem with Chase (and I can name some personal ones as well) is typical in that one department doesn't talk to the other, etc. I'm certain you've heard it all before. But what is so distressing is when you're told you have 1st approval via telephone and then it's followed up in an email that the actual approval letter will come by the following week...and then zippo happens. You start to lose faith. Several phone calls were initiated by not only myself chasing Chase, but Chase chasing my client down.
Again, non-recourse loans here but the debt collectors think intimidation is key to getting what they want. More than one collector on the phone calls to my client indicated that the "short sale will go more smoothly" if she were to make another payment. Seems they'll try anything to squeeze blood out of a turnip to gather just a few bucks before they the 2nd is willing to call "uncle" and take what the first offers.
The saddest part of all is they're losing money while they're playing these games AND they run the risk of my at market value all cash offer walking away.
Who's running that show anyway?
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