Need input on dealing with a bank on 2 short sales!
I am working 2 short sales with the same bank (Chase). Unlike other institutions, Chase is very hard to get through to. I have completed their short sale applications and on Property #1 have faxed a 29 pg pkg. to the attention of the person who I was told was the processor on the account. Apparently, the processor sets up a file which then gets sent to someone else who oversees the short sale process. But, I can’t get her to return my call to verify that the fax has been received. Any suggestions?
On property #2, I have not been given a processor name and so do I just fax the complete pkg. to the attention of no one in particular? Apparently, they have a mail room dedicated to just receiving in and logging in faxes. Would asking for a supervisor help? When I call, I always get a different rep answering the phone.
Any help/suggestions anyone could offer would be greatly appreciated. On Property #1 there is a 4 June auction date set so I need to move.
Also, their hardship pkg contains forms about HUD counseling. Can anyone comment on these? Is it necessary to give them everything they ask for or just our standard pkg?
Thanks. I will be looking forward to hearing from the pros!
I would definitely call and ask to speak to a supervisor in the department of short sales and explain your situation and also have her give you a specific person to fax your second package to. In regards to the Hud counseling, I have had some dealings with Hud and they usually require you to fill out everything ...although I could be wrong in this instance...again I would get ahold of a supv. and ask them that as well.
Good Luck
As far as FAXing documents, I always recommend that a hard copy is sent via certified mail. Not just the boilerplate application, but the Proposal, as well.
For additional information about the Proposal, you can email me at: TheShortSalePro@foreclosurefocusNJ.com
#2. If the loan is an FHA insured loan, the short sale application might require that the Homeowners receive HUD counseling. A certificate of completion is awarded to the Homeowner from a certified HUD counseling location and must be included if the application is to be considered.
Got to give them what they ask for... and a whole lot more. There is a major difference between completing and sending in an application, with preparing and presenting a compelling Proposal.
Thank you for your replies. I have followed Dwan and Sharon's format for my complete package. The Chase hardship application/package is just one portion of the whole proposal. Both of these are FHA loans. What does the HUD counseling involve and how long will it take?
Another side note, I can't seem to get an e-mail to send pictures to (the fxed pics do not turn out well). They tell me they only have inter-office e-mail but I guess a certified mailed package would get them there.
Thanks again for your input.
HUD Counseling
The mortgagor must call for an appointment, show up, and be counseled.
The Counselor set up a file on the mortgagors, describe the (jurisdiction) applicable foreclosure process, discuss viable options/alternatives, and determine if there is a HUD program that will help the mortgagors reinstate their mortgage loan.... or recommend bankruptcy, &/a preforeclosure sale.
As you can imagine, there is quite a backlog. Figure a couple of weeks to a month for the appointment, depending upon your area.