Experience With Chase Manhattan
Anyone have any advice or experiences they wish to share on proposing a short sale to Chase Manhattan? I'm working with a lady in Dallas who is struggling after her husband died last year and is 5 months in past due payments. She can no longer afford the house (built in 1958) and is looking to simply avoid foreclosure and get out with a few thousand in her pocket. The house is valued at $140K and is current balance is $126K. Have not seen the property yet, but it is presumed in good shape not requiring substantial repairs (will view property in person tomorrow). I have an authorization to release information signed from her.
Without a SS, it will foreclose for sure. Any advice on helping make this deal a success? Horror stories with CM? Comments greatly appreciated.
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