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Does anyone know

Discussion in 'Chase Mortgage - Tell Us Your Chase Story' started by jamin415, Jul 20, 2013.

  1. jamin415

    jamin415 LoanSafe Member

    I was offered 30k incentive to short sale my home by chase. Purchase contract fell through due to my 70k tax lien from 12 yrs ago. I then filed a chapter 7 bk (included house) IRS released lien after discharge a couple months ago so i re listed my house hoping that chase offered the 30k incentive again. I just got a letter stating chase will transfer the servicing to SLS effective 8/1. Does anyone know if there is any hope in getting the 30k incentive again with new servicer or is it just gone? wondering if that 30k came from chase the servicer or the actual investor?

    thanks in advance.
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Hello Jamin415,

    Unfortunately, the decision is typically up to the servicer and you will need to start the short sale process again with SLS once they have fully acquired your loan. That does not mean you cannot negotiate a payout with SLS, however the $30k incentive is quite rare and servicers typically offer around $3-5k for relocation assistance after a short sale.
  3. jamin415

    jamin415 LoanSafe Member

    So let me ask you. I just got an acceleration letter from chase 2 weeks ago and this week a letter from the atty stating they were hired by chase gave me 3o days to dispute debt etc. So i anticipated a sale date within 45 days of the chase letter. Does the new servicer have to redo foreclosure or does it just keep on going with this current atty? Which i would expect a sale date soon after the atty 30 days thing is up if not.

    Also, why would chase sell and why would SLS buy? I dont understand whats to gain. Its foreclosed and i bankrupted it.
  4. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Servicers transfer loans to others ALL the time, no matter what servicer you were originally with it's likely your mortgage will be transferred several times throughout the life of the loan.. The acceleration letter you received is typically the first notice you will receive before the servicer begins foreclosure proceedings. Depending on the state the property is located, it could easily be months before an auction is scheduled.

    Did you vacate the home after including the mortgage(s) in the bankruptcy? It does not sound like the property has been foreclosed on if you recently received an acceleration notice..

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