| Re: Looking for clarification--short sale on investment property
Fortunately the amount owed Chase is not as large as many of the seconds we see in this forum. My sense is the appropriate thing to do is to see if you can follow a short sale path for your investment property. The benefit to you is that even if Chase accepts a relatively nominal settlement to agree to cooperate in a short sale, that amount will reduce the balance you will owe to Chase. In conjunction with the short sale, Chase will want you to sign a personal not for any remaining balance that is owed would be my suspicion.
Chase cannot lien your other real property without either resorting to a pre-judgment attachment (unlikely) or waiting until they have obtained a judgment against you after filing an successfully concluding a lawsuit (more likely). So I wouldn't worry too much about them filing a lien against you in an immediate timeframe.
Take care,
Daniel |