I am 14 months delinquent on a mortgage that is over 200K underwater. I was approved for a HAFA short sale through Chase at the end of March. Their documents to me gave me 120 days to sell the house. I would get 3000 dollars cash for keys.
An offer was submitted within a week and went to Chase for review. After 20 days I received a letter from Chase saying I was being dropped from the HAFA program. After many calls I found I was dropped because the buyer wanted Chase to pay closing costs.
The buyer submitted a new offer agreeing to pay their own closing costs. Chase will not re-enroll into HAFA and put me in an internal program without cash for keys.
I called Fannie Mae. They said I could apply for HAFA through them but would have to close my Chase account (there canít be two account open at once). I asked if Chase could then foreclose, they said no.
So has anyone closed an account with a bank and opened one with Fannie Mae?