Is Chase Really Giving Phoenix Short Sale Homeowners $20,000?
This was the question I received last week from someone who had received one of the now-famous letters (famous thanks to great blogs written by Tony Marriott, Bryant Tutas, and Katerina Gassett).
Unfortunately, I hadn’t heard of the program until receiving this phone call. Naturally, I didn’t get too excited. I asked him to send me a copy of the letter, and I’d take a look at it. So, he did, and here it is… (Simply click on the letter to make it larger).
Naturally, I was astounded when I actually read it. I thought to myself, “There must be a catch”. So, I asked my client to fill out a 3rd Party Authorization, and faxed it to Chase. Less than 24 hours later, I was contacted by a CS Representative at Chase, and she was very helpful.
According to her, the program is primarily targeting loans that were formerly held by WAMU, and are classified as “Neg-AM”, “Pick-A-Payment”, and/or “Option-Arms”. So, in other words, the really really bad loans.
After talking with her, I proceeded to call my new Phoenix short sale client, asked him to sign a listing agreement, less than 48 hours later, I was assigned a negotiator. Pretty cool huh?
As I advised my client, I am not holding my breath, but am cautiously optimistic that this might actually work! Obviously, someone at Chase has finally realized that foreclosures are actually more costly than short sales. If only the other lenders would take notice!
The home that I listed is in a very popular area, and I’m sure we will receive an offer shortly. Once received, I will report back each week and describe how everything unfolds. Hopefully, Chase actually follows through on their promise, and yet another Phoenix Short Sale homeowner can be saved from foreclosure!
Until next time….
P.S.-If you or someone you know is facing an Arizona pre-foreclosure situation and has a loan that falls into these parameters, give me a call. I’ll help you find out if you qualify. If you’re one of the lucky one’s that got one of these letters, call me today and let’s get it listed! We’d love to add you to our growing list of satisfied Phoenix Short Sale clients!
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Bob Hertzog
Summit Home Consultants
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Copyright © By Bob Hertzog 2011 *Is Chase Really Giving Phoenix Short Sale Homeowners $20,000?*
