Chase Short Sale Negotiations
As more Chase borrowers fall into financial distress, the leading mortgage servicer has stepped up efforts to offer solutions such as short sales. The Chase short sale approach allows you to sell your home for less than the balance you still owe and turn the proceeds over as payment for your loan. With a Chase short sale, you get to eliminate mortgage debt and start on a clean slate without having to go through the whole foreclosure process.
Call Your Bank
The first step in the Chase short sale process is calling up the bank and telling them abo ut your situation. During the call, they can tell you outright whether or not a Chase short sale is right for you. If you qualify, you can get more details such as the papers required, their qualifications, and the typical Chase short sale waiting time. They can also offer you Chase short sale alternatives if you’re a better fit for other workout options.
Find a Realtor
Next, you’ll need to find a realtor, preferably one with Chase short sale experience. He or she will help you deal with your lender and potential buyers, fill out your short sale application, as well as list your Chase short sale home for sale. They’ll also help you put your Chase short sale package together, along with all the bank’s requirements. These usually include tax forms, a financial worksheet, bank statements, and pay stubs. You will also need to submit a hardship letter, where you explain in detail how you fell behind and how a Chase short sale can help you.
Get an Offer and Submit to Your Bank
Once your short sale is approved and your home is listed, you can start evaluating offers from buyers to see if they meet Chase short sale standards. When you get one that seems to fit the bill, your agent can send it over for approval. Your bank decides whether or not to accept the offer, so make sure to choose the best one to avoid wasting your time. Once it’s approved, you can finalize the sale and schedule a closing date. You can then turn your home over to the buyer, make the payment to the bank, and get rid of your mortgage debt.