September 4, 2018

Short sales are usually never anything but short….but once in a while you get lucky! See how this CT couple avoided foreclosure and walked away from their upside down mortgage with Chase in just 2 quick months!

When my sellers first reached out to me, they had been trying unsuccessfully to work things out with Chase for a few years. After a period of unexpected unemployment, they had fallen behind and were never able to catch up despite many loan modification efforts. Now out of options and facing foreclosure, they had given up on trying to stay  in the home and were ready to move on. They decided to cut their losses by attempting a short sale.

foreclosure sign

It generally takes about 4-5 months from listing a home to locate a buyer, get the short sale approved and for the sale to close.  In this case It  took just three weeks to secure a buyer for the property and a short sale package headed to Chase. Chase Bank can be hit or miss, however in this instance Chase went right to work on the approval! It took just a few short weeks for Chase to seamlessly deliver a short sale approval letter, and a few more for the buyers to close!

Just two months after first listing the home, our Chase short sale closed, with the sellers walking away from their upside down home, with their mortgage debt fully forgiven and with a relocation assistance check in hand!

Last Updated on October 9, 2018 by Minna Reid

About the author 

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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