Chase Home Finance Slow Short-Sale Process

[asnalick]

Quick Summary; I live outside of Detroit, Michigan. Over a year ago I was laid-off from one of the big three car companies as a Manager non-union worker. I found myself searching for jobs out there and was coming up empty. I found a great job out-of-state but it demanded concessions on my families’ part as well as my lending institution. We were forced to either foreclose or do what's right for our bank, our state and country which would be to go through the short-sale process. Our house went on the market May 1st, 2009 and we had our first offer June 2nd. Since that date we have had three buyers back out and now we are left with one potential buyer. The reason the buyers backed out was the time-line or lack thereof. As I stated we started this process back in June and now it’s been 180-days and still no response from anyone at Chase regarding our short-sale. We literally call everyday to hope for a response or letter that was mistakenly mailed out to someone else. When we call and ask for timelines all we get is a response that we are just a name in a list a mile high. We have a hard decision to make shortly and I am hoping your company will come through before foreclosure is immanent.fficeffice" />>>

[Evan Bedard]

Hi asnalick welcome and thank you for joining.

Our house went on the market May 1st, 2009 and we had our first offer June 2nd. Since that date we have had three buyers back out and now we are left with one potential buyer. The reason the buyers backed out was the time-line or lack thereof. As I stated we started this process back in June and now it’s been 180-days and still no response from anyone at Chase regarding our short-sale. We literally call everyday to hope for a response or letter that was mistakenly mailed out to someone else. When we call and ask for timelines all we get is a response that we are just a name in a list a mile high. We have a hard decision to make shortly and I am hoping your company will come through before foreclosure is

It is wise to consult with an Attorney or Real Estate Agent who is familiar with Short Sale negotiation and has significant experience working with lenders. Keep in mind that Attorney’s fees or Realtor fees come out of the lender’s net proceeds, therefore, you should not have to pay out of your own pocket for an Attorney or Realtor to assist you with the transaction.