Chase Short sales: Will Chase pay you to do a short sale?
The answer is MAYBE! Chase has targeted tens of thousands of loans all over the Bay Area to be part of their Chase short sale incentive program. This Chase program may enable you to streamline a short sale AND receive a Chase monetary incentive in the process.
How much is the Chase short sale incentive? Could be $10,000, $30,000 or up to $40,000. In fact, you can even combine this Chase short sale incentive offer WITH the HAFA program and get a $3,000 relocation allowance in addition to the thousands of the Chase short sale incentive.
As a Chase preferred partner agent in the East Bay Area, we’ve heard that these letters will start going out to the targeted Chase borrowers soon. While details on who exactly will be eligible, and who will receive these letters is a bit unknown, it is known that they will target those that are most delinquent on their loans. If you are a Chase borrower, and delinquent on your mortgage payments – OPEN ANY MAIL that comes from Chase. A client recently thought this letter was a “scam” as surely Chase wouldn’t be paying people to do short sales, but yes, yes they are.
If you wonder if you qualify for a Chase short sale, and a Chase short sale incentive AND are already delinquent on your loan payments, feel free to call Chase directly to see if they’ll let you know if your loan is one that is targeted to receive the incentive.
The letter will start out something like this:
You could sell your home, owe nothing more on your mortgage and get $30,000.
The phone number offered for Chase short sales on letters I’ve seen is Chase short sale incentive program phone: 877-496-3820. Again, if you are seriously delinquent and contemplating a short sale, call Chase and see if you may be eligible.
Or, if you receive a Chase Short Sale Incentive letter, you may notice there may be a couple of names of Chase preferred agents for homeowners. I wrote about my acceptance into the Chase Short Sale Priority Partner program a while back, but we are agents hand picked by our local Chase representatives and have documented experience with Chase and with short sales in general. I’ve attached a partial sample of such a letter here.
In other news, maybe only exciting to other short sale agents, Chase will be migrating to the Equator platform, probably some time during the 3Q of 2012. So stay tuned!
To speak with a local Chase lending representative, contact Joanne Berson in Walnut Creek. Or to discuss the possibility of a loan modification or other home retention options, i..e mortgage modification programs, check out the Walnut Creek branch of Chase Homeownership Center.
Contact Catherine Myers, Real Estate Broker for all your Contra Costa short sale needs and questions. Free and confidential consultations for all situations. Experience with all local and national lenders.
Windermere Bay Area Properties
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