Chase Short Sale Homeowner Offered $20,000 Relocation Fee

By
Real Estate Agent with Rosa Agency 9591451
 

When we received our most recent Chase Short Sale approval on behalf of our Newark, NJ client, we weren’t surprised that the offer was approved.  Nor were we particularly caught off guard by the amount of debt being forgiven, approximately $136,000 worth, one of the smaller short sale amounts we’ve gotten approved recently.

What caught our eye about this Chase Short Sale approval was the seller incentive being paid.  $20,000.

Chase Short Sale

Yes, a $20,000 seller incentive was being offered on this Chase Short Sale.  We have had seller incentives regularly approved on our Chase Short Sales, most in the range of $1,000 to $3,000.  But we were absolutely stunned at the proposed seller incentive being offered by the bank in this Chase short sale.

We didn’t believe it, but it’s true.  If you don’t believe it, here is a link to the Chase Short Sale approval letter offering the $20K seller incentive.  The confidential information has been blacked out, but the important stuff is still there.

The Chase Short Sale approval was beneficial to this homeowner, not only because of the generous seller incentive fee, but also because:

  • There is no deficiency balance or judgment going forward
  • The homeowner is permitted to stay in the home while the Chase Short Sale is being processed
  • There is no tax consequence to the homeowner as a result of the forgiven mortgage debt
  • The homeowner avoided more serious credit damage that would have resulted from a Foreclosure

Anecdotal evidence by scanning blogs and speaking with other Short Sale agents has uncovered the fact that many homeowners are being offered these enormous borrower incentive fees with Chase Short Sales. If you’re Homeowner with an underwater Chase mortgage, thinking about a Deed-in-Lieu of Foreclosure or walking away from your home altogether, maybe a Chase Short Sale with a $20K incentive fee will change your mind.

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Contact Manny Rosa for More Information

Manuel J. RosaManuel J. RosaSFR, e-PRO, BPOR, CHS, CDPE
Owner/Broker
Devore-Rosa, LLC T/A Rosa Agency
18-20 Bloomfield Ave.
Belleville, NJ 07109
RosaAgencyRealtors@Gmail.com
Office: 973.751.1000 x. 529
Cell: 917.518.7861
Fax: 973.842.0837
Check out my new Website --> MannyRosaHomes.Com
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