Sacramento Short Sale Seller Gets $28,000 from Chase Bank

Sacramento Short Sale Seller Gets $28,000 from Chase Bank

I just closed escrow on another Chase short sale in Sacramento. Usually that’s enough reason to celebrate but this time there is more.  My client received a check from the title company for $28,000!  $3,000 was because we sold his house as a HAFA short sale and $25,000 was from Chase for choosing to short sale instead of going to foreclosure.  A year ago, I couldn’t have imagined a lender paying that much money to a short sale seller.  Now, I’ve seen for myself that it’s true.

This all started over the summer. I was contacted by my client who received a letter from Chase explaining that if he sold his home as a short sale, he would receive $25,000 from Chase when it closed. I listed the house and we got a good offer.  As a Sacramento short sale agent I’ve sold 100’s of short sales and REOs.  I know how to submit a complete short sale offer to Chase so that they will grant a short sale approval.   When I got the short sale approval letter, I was anxious to know…did it mention the $25,000?  It sure did!  It also said the Sacramento short sale was HAFA approved and my client would get an additional $3,000!

This got me thinking! Why was my client eligible for the Chase short sale incentive while so many other Chase short sale sellers are not.  I did a little digging and here’s what I found:

• You must have negative equity in your home.
• Chase will contact you with the incentive letter if you apply.
• Incentive amount can range from $10,000-$35,000.
• It appears that the loans that qualify used to be Washington Mutual loans, now owned by Chase.

If you receive a Chase short sale incentive letter, it’s important to work with an experienced short sale agent in order to accomplish a successful short sale. The incentive is a big opportunity for a fresh start.  Don’t risk your incentive by using an agent inexperienced with short sales and the paperwork , negotiation, and follow-up that they entail.

Find out if you qualify for a Sacramento short sale.

Sacramento Short Sale Seller Gets $28,000 from Chase Bank

Posted by Sacramento Short Sale Agent – Allan Sanchez – www.AllansHomes.com