Chase Short Sale Negotiations

Chase Short Sale Negotiations

Chase Short Sale Negotiations

"Major banks are coming up with more efficient and user-friendly processes for short sales in a bid this help more homeowners out of foreclosure. JPMorgan Chase, for example, has taken steps to educate borrowers on the short sale process and help them get approval. The short sale Chase process can still take time, but borrowers now have better control over it. Here are some tips on Chase short sale negotiations and how you can improve your chances of getting approved.

Obtain A Short Sale Packet

Chase offers an online information packet detailing the short sale process both for new short sale Chase applicants and those who have previously applied for loan modification or have a pending short sale. It also includes the basic forms you have to fill in, plus a checklist of supporting documents you have to provide. Simply fill out the forms and send them along with other short sale Chase requirements by fax or post.

Hire A Short Sale Agent

Borrowers are allowed to represent themselves in a short sale, but an agent can help you get better results and offer tips on Chase short sale negotiations. Since they know the market better, they can lend some credibility to your case and explain your situation to the bank, as well as deal with potential buyers. Make sure to write an authorization for your agent so they can handle your personal and financial information during the short sale Chase process.

Make A Proposal.

Your short sale proposal should be as detailed as possible, so that the bank can see how much the short sale will cost them. Your agent can help you get market information and other data that can support the terms you're proposing, and give you an edge in Chase short sale negotiations. Make sure to take into account your home's value, your mortgage balance, and estimated selling costs including agent's commissions and processing fees.

Prepare Backup Documents.

Some of your documents may be lost during processing, and this can extend your short sale waiting time. Make copies of all the documents you submit, so you can furnish them as needed and avoid unnecessary delays in Chase short sale negotiations. If you have any documents that can help your case, such as a medical certificate or divorce papers, don't hesitate to include them in your packagechances are the bank will ask for them later on, and you'll cut the short sale Chase process by a week or two."

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