Short Sales with Chase - Posted by Joan

Real Estate Investing
1

Posted by Branon MO on May 09, 2007 at 23:54:45:

Joan,

Email me in the morning. I do short sales for a living. I’ll be more than happy to help you.

2

Short Sales with Chase - Posted by Joan

Posted by Joan on May 09, 2007 at 11:35:07:

I have a short sale offer in for review with Chase bank, but it seems that their organization is so large that the Short Sale department and the Bankcruptcy and Foreclosure department don’t talk to each other. So basically, I’m in a race between the two, hoping that the short sale process will finish before the foreclosure process.

Three parter question:

  • Has anyone out there dealt with Chase?
  • Is it really beneficial for the bank to get a short pay versus foreclosing? Their position is that they are doing me a favor.
  • There is a first ($221,000) and a second ($41,000). Of course both loans are both with Chase, but handled by two separate organizations in two different states. If they short sale is accepted for the first, what are the potential scenarios for the second?

Any feedback would be greatly appreciated.
Joan

3

Re: Short Sales with Chase - Posted by Sam -MI

Posted by Sam -MI on May 14, 2007 at 09:47:53:

Hi Joan

Chase is only going to get rid of the second they will not discount the first because both loans are with them.