Chase Shortsale – APPROVED !

Here is a recap of events on this 1+ year listing that CLOSED this week.
Condensed process of my recent SHORTFALL with CHASE SHORTSALE with Carrington Mortgage for the buyer

Listed 12/13/13
12/31/13 1st offer
2/26/14 Release 1st buyer
3/1/14 2nd offer
5/18/14 2nd offer release
5/19/14 3rd offer
6/2/14 Release 3rd buyer
10/20/14 4th offer
11/17 Bank APPROVED SS
Multiple time SSA expired
3+ extensions on the approval trying to get the buyers loan approved

Th last 2 weeks of this process the buyer bank ( Carrington) and SS bank ( CHASE ) played hardball slashing CCA for the buyer on the hud and refusing to give PRELIMS ( Carrington or an extension to the SS (CHASE) until on or the other give in. Chase would not submit a new SS approval letter with an extended date until Carrington gave a Prelim HUD. Arrington would not do a PRELIM hud with out the extended SS letter. It was a CHICKEN and EGG feeling ……who is going first.

The Chase negotiator seemed to have it out for us and was not playing fair. Asking for some things that were already giving as well as slashing terms from a previous approval.

We had been added to an email loo for the buyers bank. I had access to them as was communication trying to assist in getting all the updated doc and extension. The unbelievable thing was when
Carrington mortgage the buyers bank called me and was giving us run around, even said he was pulling the loan because I stated I was TIRED AND DONE… Mind you IM NOT THE CLIENT for them.

There were up to 75 emails to all parties trying to resolve details to get the Hud approved by Chase ( shortfall Bank) and Carrington ( buyers bank)

Friday 1/9/14 we had what we thought was a HUD approval from the SS bank but at 4:55pm the negotiator approved the hud and neglected to send the new SS approval letter with an extended date. Buyer bank refused to release the closing package. All banks were closed and we were not able to speak to anyone about it.

Friday 5pm 1/9/14 I started tweeting CHASE begging for someone to call me.
Monday 1/12/14 in the later afternoon I get a call from the person who monitors TWITTER. He asked what the situation was. He looked in Equator and saw the SS approval extension and was confused at why the negotiator would approve the HUD and not send the letter. THIS WAS MY POINT …. we felt that this negotiator was new, or had it out for us. He uploaded the letter to equator for us to review.

Close 1-13-15- BUYER CLOSED at 5pm !!!!!!!!

This deal was SAVED impart by Social Media in my opinion. Thanks to reaching out to Chase on TWITTER and FACE BOOK we were abel to explain the issue and get someone to take a second look.


Tags: , , , ,

Leave a Reply