Chase Short Sale Incentive – Roseville Seller Gets $25,000!

Chase Short Sale Incentive – Roseville Seller Gets $25,000!

A couple months ago, I got a call from a man wanting to short sale his Roseville home. He had just been contacted by his lender, Chase, with a letter stating he may be eligible to receive up to $25,000 if he short sales his home.  WHAT???  I’ve been a short sale specialist since the recession started but I have NEVER heard of a bank offering a borrower anywhere near that amount of money to short sale their home.

I asked for a copy of the letter from Chase which the borrower promptly provided. Here are the important points:

• “Upon the sale of your home, you will owe nothing more and will receive $25,000 to make a fresh start.”
• Choose a real estate agent who has experience selling short sales.
• List your home at fair market value.
• Send in your listing agreement,
• “Remember, we are committed to helping you avoid foreclosure and make a new start.  Contact a real estate professional today and return the signed listing agreement.”

The letter from Chase certainly looked legit. But I admit, I was a bit skeptical.  I had never heard of this Chase short sale incentive and didn’t want to over-promise the seller.  We decided to give it a shot and hope for the best.

I listed his Sacramento home and got an offer within a couple weeks. I followed Chase’s short sale process, submitted all required paperwork, and checked in with Chase regularly to make sure the short sale was moving along.

Last Friday, I got the letter all short sale agents wait for….an approval! An approval is exciting enough, but I was dying to know….what about the $25,000 short sale incentive from Chase?

Then I saw it, the $25,000 Chase short sale incentive was approved! It will be placed on the HUD and payed at the close of escrow.  WOW!  Chase truly is doing it’s part to avoid foreclosure and pump some money into the economy. The icing on the cake is that this short sale is also a HAFA short sale.  HAFA is throwing in its typical $3,000 for a total of $28,000!

I didn’t know how this Roseville seller qualified for Chase’s $25,000 short sale incentive and why others don’t. I did a little research and it appears Chase offers the short sale incentive to the following:

• Chase loan must be originated by Washington Mutual.
• Homeowners are behind on their mortgage.

I also found out that the Chase short sale incentive varies from $10,000-$35,000 depending on the specifics of the loan.

There may be more to the Chase short sale incentive however it is legitimate and if you are considering a Chase short sale, it is worth looking into.

See if you qualify for a Roseville short sale.

Chase Short Sale Incentive – Roseville Seller Gets $25,000!

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