Anyone had to deal with Chase Mortgage on a Short Sale?

By
Real Estate Broker/Owner with RE/MAX Metro Associates & K2 Property Management
http://actvra.in/5Zp

I am dealing with them for the first time, in a short sale situation.  I have a client/seller, who has asked for my help in negotiating a short sale with Chase.  Fair enough, but I've had 4 offers now for going on two months with NO RESPONSE from Chase. 

I call EVERY day, I fax the 40 page short sale package EXACTLY to their standards, once a week.  I ask to speak to supervisors.  I leave voicemails, all to NO avail.

Sigh.

Anyone else have experience with Chase?  I've done short sales but NEVER have I had such a lack of follow up or follow through.

They did extend the foreclosure date for me for 3 months but the sale date is now scheduled for April 18th and still no response from them on our offers.

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Anonymous #77
Anonymous
Adrienne Camacci

We are current on our mortagage with Chase. We want to move because our neighborghood has become unsafe for our child AND we owe $50K more than we can sell for. How do we start the short sale process with Chase??

May 23, 2011 07:45 AM
Anonymous #78
Anonymous
Kat

Same situation....mortage with Chase is 122K property is worth 90k.  They did not approve my mortgae modification even though my husband, the main earner lost his job.  Mortgage is 31% of my income and you need to be at 33%!  WTF so I can pay my mortgage so I have somewehre to live & make my car payment so I can drive to work to make the mortgage payment, but everything else that is left I can't afford.  They won't refinanace or take off the PMI either.   I'm trying my hardest to keep my loan up to day but I feel strongly that Chase would have approved me had I been late with my payments...guess it's time to work the system.   I too got transfered around about 100 times before getting to someone.  Bad customer service.

May 23, 2011 12:39 PM
Anonymous #79
Anonymous
Help?!?!?!?!

I am a buyer who put a short sale offer on a house in May and was guaranteed that they had it by 05/31/11. Since this point it has been said by Chase due to the amount of turnover in the company, that it would be forwarded to a supervisor, that was two weeks ago. Today, I'm told that the seller's realtor has been given another contact person and it may take a while. I really want this house but I'm not going to wait months to get it. Does anyone have a timeframe that it took them to get the contract accepted? I don't want to go look at other houses but this is completely insane. I work for a credit union and we don't take this long on our short sale offers. It's not fair to let a big bank decide the fate of my life. DOWN WITH CHASE!

June 28, 2011 03:59 PM
Anonymous #80
Anonymous
Josephine

to my experience, if Chase actually owns the loan, then the process is very smooth and they are the ones contacting you almost every week for updates!!!!!  And the file is approved within 10-30 days!  But if they are only servicing the loan and the investor is a 3rd party, then OMG! Good luck with that.........months and months of waiting...I have a few files with chase and sometimes I wonder how One bank can be so different in processing the files!

July 08, 2011 03:16 PM
Anonymous #81
Anonymous
EJB

Wachovia Bank was my lender who sold/changed to Chase who then became my mortgate lender.  I've never been late on payment, and as of this date the mortagage payment is current and "underwater." Due to the sudden death of my spouse I can no longer afford to pay neither do I desire to keep the house. I would like to avoid forecloseure, which will ruin my credit..., short sale seems to be an alternative that I am interested in. I need some assistance and advice, unfortunately, Chase does not respond in a timely fashion if at all in addressing my need. Chase almost NEVER returns calls even when it's a return call from me following up a previous call from them. Where do I go from here???    

July 27, 2011 09:07 AM
Anonymous #82
Anonymous
Lee Only

What is your city and state?

July 27, 2011 10:07 AM
Anonymous #83
Anonymous
Lacy Williams

I am a Realtor In Richmond VA trying to find the short sale negotiator to talk to me about a property that I have listed. It has been almost 2 weeks and I cannot get anyone to talk to me. I have sent out faxes and tried to call a number of different phone numbers. IS there any phone numnber at Chase where a human actually answers the phone?

August 02, 2011 04:34 PM
Anonymous #84
Anonymous
Janean

This is only the latest stunt Chase has pulled during our Short Sale purchase. I could write a book on our adventure but I'll keep this one short, it stands strong all on it's own.  We are over 90 days into the process.  The Chase Agent Jessica McKelvin (that cant seem to be found to accept the listing agents phone calls for weeks), she faxed the counter bid over to the listing agent.  Sweet Jessica called the listing agent to tell her that the deadline to respond to their counter offer had expired and the file has been closed.  WHAT!!   This ignorant piece of work, Jessica faxed the counter offer using a fax number that had been disconnected for over a year!!!  It was clearly their fault and the right thing to do would be is to fax the document to the correct fax and let us respond to their new price request.  Are you kidding, that's what a human being would do.  These agents are not human.  Their suggestion was to resubbmit our offrer and see what happens.  Are you freaking serious.  I didn't mention this but this is a CASH SALE, so all they have to do is say ok and they would have their money the same day.  I swear It is taking all of my will power to keep from calling them and completely going off.  But I love this house, so I'm left with being very depressed and madder than hell.  Not sure if there is anything we can do about it, If some one knows what we could charge them with, please share.  I know they would want this to just go away, but they went to far, it was their error and they know it.  After over 90 day of waiting, what a waste of time and money.  I hate them, I don't "hate" but with them, that's all I feel, pure hate.  Something needs to be done to keep them from doing this to families, both sellers and buyers, it's just not fair to put people through the hell this process.  The poor sellers have had the house listed for over a year and a half, it's got to be getting to them.  I feel so  bad for them.  I'd like to go and hand them the cash and leave the banks out of it, but I don't know what the total owed is on the mortgages.  Any suggestions?  Anything at all?

August 09, 2011 07:26 AM
Anonymous #85
Anonymous
Anonymous

Update on the above purchase.  It only took a week for a human being to surface at Chase.  They actually called the listing agent and said they want to work with us.  And of course they are trying to squeeze thieir commission out of us and added another 10,000 to the cost.  Which is still not a bad price at all.  5 years ago the house was assesed at 600,000.00 so we are still getting a good deal.  They hold both loans on this property, they are old Countrywide mortgage loans they aquired with the purchase of WAMU so they are covered.  Thei incresase means I'll have to put any thoughts of a new kitchen on thye back burner, sort of speak.  The house is 97 years old, a new kitchen is a big deal, but I think I can deal with it for a while and count my blessings.

But it's not over yet, we could be faced with a deal breaker once the inspection is finished.  Ugh...  August 27th will be the 5 month mark.  It's unbelieveable that a cash sale has taken 5 months.  What a broken system, it's prue torture. 

I'll update as it goes.

August 09, 2011 03:58 PM
Anonymous #86
Anonymous
Carol

Chase is the worst!  We have faxed paperwork to them 5 times and they still say they haven't received it.  They changed the locks on my house and said they have never spoken to a realtor.  I know they have because I was there on one occasion when the realtor spoke with them.  

October 15, 2011 02:09 PM
Anonymous #87
Anonymous
Yvonne

I have an offer on what I just found out was a short sale my agent never told me. Can I call chase myself to find out when it might be approved. I already sent them proof of funds.

Thanks

February 17, 2012 03:29 PM
Anonymous #88
Anonymous
CC

CHASE IS HORRIBLE. We were pre-approved. Turned all the paperwork in they requested. lock in our interest rate...... The seller had a current survey so we were told it should not take any longer then the 30 days. Well 75 days later and a million phone calls with a thousand different people no one seemed to know why it wasnt wrapped up yet. They came back after all that time and said they didnt like the way my husband got paid. He made around the same for the past 6 years. All the stress and time was not worth dealing with Chase. Went to another bank and they had us signing papers in 2 weeks.

May 16, 2012 05:20 PM
Anonymous #89
Anonymous
Ann Adams

Chase is difficult to work with on short sales and getting worse!

My client tried a loan modification and was denied, then we have had 3 negotiators for the short sale and finally an approval.  They are terrible to work with.  I suggest getting an efax and stalking the negotiator daily with faxes that go to their email as a tactic.  I will try to avoid Chase in the future they are too hard to work with.

June 05, 2012 03:01 PM
Anonymous #90
Anonymous
Anonymous

I am a Realtor Broker Owner in Philadelphia working on a short sale. It's been an absolute NIGHTMARE dealing with Chase. I have three contact numbers for short sale processing. I have called 57 times since 4/12/2012 and faxed 6 requests to speak with any service worker. It is now 7/26/2012 and I have has 3 communications only with their service workers. I have had to fax identical paperwork 2x and have not progressed any further. IF I I RAN MY BUSINESS IN THE SAME MANNER I'D BE BANKRUPT. Is anyone watching the store? I will never recommend  or work a short sale again. Bank service mismanagement is certainly a factor increasing number of foreclosures.

July 26, 2012 06:36 AM
Anonymous #91
Anonymous
HOWARD JONES

ON 6/5/2012, I MADE $20,00.00 (CASH) OFFER  TO (SHORT-SALE) PURCHASE HOUSE LISTED FOR $21500. WITH ($500 DOWN). i WAS TOLD (ORALLY)  BY REALTOR  ON 8/6/12 THAT MY OFFER HAD BEEN ACCEPTED AND CLOSING EXPECTED IN A FEW DAYS.  HOUSE APPRAISED AT $57,000. (AND WORTH IT).... CHASE BANK HAS MORTGAGE.   I DO NOT BELIEVE CHASE IS GOING TO SELL TO ME FOR THIS PRICE.  IF THEY WANT MORE THAN THE $20K OFFER,  CAN I GET MY $500 DEPOSIT BACK .  THANKS

 

August 06, 2012 07:13 PM
Anonymous #92
Anonymous
ritag

Chase bank,you are the worst. If David Rockerfeller had his wits about him you would all be fired.

Jamie Dimon should step up to the plate and address all his departments and see that the short sale departments are inept,nasty,rude,unknowledgeable. What happened to service and compassion for those people who are losing their homes I hope that someday they are not in the shoes of all those folks losing the American dream. How about the vets? No feelings for those poor souls who came back to nothing and can't use their VA benefits for a loan.          

 





 

August 28, 2012 04:12 PM
Anonymous #93
Anonymous
S

I AM JUST ABOUT TO BEGIN A SHORT-SALE W/ CHASE.  I WAS LOOKING AT A SS IN TX, AND WANTED TO KNOW WHY IT TOOK SO DAMN LONG.  SO, I CALLED THE NEW MORTG PRESIDENT'S OFFICE (WELLS FARGO).  ALTHOUGH THEY TELL YOU THAT THEY WILL HOLD THE MORTGAGE, THEY SELL IT LIKE A HOT ROCK!  MOST OF THE LONG TIME WAITING FOR THE OK FROM THE BANK REALLY ISN'T THE BANK!  THE BANK IS REALLY THE KID ASKING HIS PARENTS (INVESTERS WHO BOUGHT THE MORTG) TO GIVE THEIR OK TO ACCEPT THE LOSS ON THEIR INVESTMENT!  SO, ITS NOT THE BANK USUALLY WASTING TIME, ITS THE 1%ERS WHO YOU ARE WAITING ON!  IN MY CASE, IF THEY DON'T ACCEPT THE SS, THE HOUSE WILL DROP INTO THE FORCLOSURE BUCKET - I DON'T REALLY CARE!  SUCH IS LIFE...Few The Proud The...lol

November 27, 2012 06:46 PM
Anonymous #94
Anonymous
steve

All of the above comments have a common thread. No communication from a real live person from chase.

They give you some extension number to contact Mrs. or Mr. so n so, but you never ever get to speak to them. My house is in shortsale status, and had recieved a $60,000 offer, from a pre approved buyer. they countered with $80,000. they don't seem to understand if the house goes to auction, it might bring $30,000 on a good day. It's like they want to loose money on purpouse. Maybe the do? Write offs or something.

Anyway, if your considering shortsaling your house, might as well forget it. Chase will not help, you, all they will do is piss you off to the point you want to go postal. Just let them forclose and be done with it. Save yourself alot of grief.  Here ya go Chase, It's all yours, I'm done.

January 07, 2013 09:36 AM
Anonymous #95
Anonymous
Jessy

As a Chase short-sale survivor, I'm on my knees EVERYNIGHT not just with gratitude for me, BUT FOR THE REST OF Y'ALL still struggling!!!

If you put 20% down, & still were forced to pay mortgage insurance in your payments, HAVE FAITH! That was my case for a loan that went from Countrywide to Chase at my request. I had dealt with Chase before when I lived in Pa., & switched back when Countrywide & the ARM got lethal. 

Despite putting 20% down, being over 50, & a 780 credit score, I still had to pay PMI in my payments. When the job was moved, the unemployment couldn't cover the note. When Mama got Macular Degeneration, the focus got skewed. When the last national boards test in 1 profession was flunked(FOR LIFE!), & the license for the other practice was revoked (THRU NO FAULT OF MY OWN) the practice had to close. I contended alone with Chase for almost a year before I surrendered to a Realtor for a 'SHORT SALE. My note was $135k, & the sale price was $35k - BUT I COULDN'T EVEN BUY BACK MY OWN UNDER-WATER DEVALUED HOUSE!!!

My Realtor was disgusted, my family & friends were heart-broken for me, & I was damn-near ballistic!!! Then, & only then, did I decide to pack it in & GO HOME. Moral is - IF YOU PAID MORTGAGE INSURANCE, THEN THERE MAY BE RECOURSE THERE FOR YOU! Please, don't discount it, & get a REALTOR TO CHECK IT OUT FOR U!!!

BUT also pay attention to whether or not you need to keep fighting a losing battle to stay in a house/area/state that is becoming toxic for U!!! As my Grand Nana used to say - GODSPEED ON YOUR ROAD, & MAY THE GOD LORD & LADY TAKE A LIKING TO YOU!!!

 

 

February 05, 2013 05:33 PM
Anonymous #96
Anonymous
James Russell
Yes, we had a offer for $78,000. We and the realtor jumped through every hoop Chase set up. The offer was a bonafide offer. After approximately 3 months the buyer rescinded their offer and bought another home. Chase foreclosed on the home, bought it for $67,000. Some time later the home was sold for $75,000. Chase frequently changed customer specialists and would not respond to our realtor. In short let me say we did everything Chase asked and they were non-responseive.
May 08, 2014 12:33 PM
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