REALLY CHASE?? Oh No You DIDN'T Screw My Short Sale!!!

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Real Estate Agent with Keller Williams Realty | Northern Virginia | 703.635.0388 0225 189802

Unbelievable.  It's been 16 hours and I'm still sitting here stunned. 

Did I REALLY just have a short sale approved...all contingencies removed...walk through done...and at 4:14pm on the AFTERNOON BEFORE a 9am CLOSING I'm notified that our buyers' approved CLOSING COSTS were CUT IN HALF?  AND additional line items PULLED as UNPAID?

I cannot believe that ethical issues are not at play here. Am I incorrect?

I am preparing to get the assigned attorney engaged and a 3-way call going with myself and our negotiator authorized to represent the seller with Chase. We have the name and direct line of a supervisor for starters.

Is this common practice to have 11th hour changes that can affect closing???  Bear in mind moving trucks are loaded, walk throughs have been done, arrangements for school transfers have been made, leases signed for temporary housing.  How can they DO this to people???

If anyone out there has had a similiar experience with Chase, I am all ears to hear how you went about resolving!

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Ambassador
489,585
Kristin Moran
Owner - RE/MAX Access - KristinMoran@Remax.net - San Antonio, TX
San Antonio,TX - Real Estate - 210-313-7397

I have not had a similar experience but am working one now with Chase.  I cannot believe this is happening.  Please keep us informed of the outcome & good luck!

Mar 08, 2012 09:33 PM #1
Rainer
234,647
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Pretty hard to believe - I have not had this happen but have a Chase short sale closing next week with Buyer paid closing costs and will be on the alert. Good luck.

Mar 08, 2012 10:35 PM #2
Rainer
110,916
Leslie G. Rojohn
MoonDancer Realty - Sylva, NC
GRI, ABR ~ MoonDancer Realty

Good grief!! Have not had this experience but it does not suprise me in any way.  This is what happens when the banks rule the country.

Mar 08, 2012 10:40 PM #3
Rainer
77,960
Mike Morrison
Will & Will Real Estate Brokers, The Woodlands, Texas - Houston, TX

Why should you be surprised? The Big Five banks and Goldman rule the world. These pirates can do anything they want to do. You're forgetting they are Too Big To Fail. Contract law has been thrown out the window and we let them do it. Now, we have to live with the result.

Cut your losses and move on and stop doing short sales. You'll sleep better.

Mar 08, 2012 11:14 PM #4
Rainer
278,088
Lisa Moroniak
Keller Williams Realty | Northern Virginia | 703.635.0388 - Leesburg, VA
SFR - Short Sale & Foreclosure Certified

Okay - sarcastic and condescending remarks aside - I would like for this to be a LEARNING and SHARING experience.

RESOLUTION - my negotiator (we use FRT - Foreclosure Response Team) was actually able to get this resolved on the front line with the call center.  We learned our assigned negotiator who posed the problem in the first place was out on vacation.  For whatever the reason the gentleman at Chase who was filling in agreed that Chase was in the wrong to not honor the approved terms and APPROVED the HUD to close.  We settled at 4pm yesterday!

Rather than "cutting my losses" - we fought.  And WON.

 

Two other links for reference I found useful - thank you to those who made the time to publish and share their experiencesl:

http://indianapolisinshortsales.com/short-sales-explained/you-have-to-push-on-your-short-sales-to-get-things-done-for-your-clients/

http://shortsalesuperstars.com/group/chase

Mar 09, 2012 09:20 PM #5
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Rainer
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Lisa Moroniak

SFR - Short Sale & Foreclosure Certified
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