Chase Short Sale Procedure in Palm Beach Gardens Florida

by Rodney Forbes on September 28, 2012

West Palm Beach Short Sale RealtorChase is one of the largest multinational banking corporations, and supply plenty of services to match their reputation: banking, investments, and now, short sales. Since branches of the company can be found in Palm Beach Gardens Florida, as well as across Florida, a homeowner can easily avail of a short sale from Chase, along with a variety of other financial and mortgage assistance services. You and your family can have a shot at a normal financial life again.

In fact, you may also be found worthy for generous cash incentives in Palm Beach Gardens, FL when getting a short sale with Chase. A fortunate San Diego family received $ 30,000 as a cash incentive after a Chase Short sale that closed in November 2011. This can be a good sign for many homeowners who are having a difficult time paying off mortgage loans; the cash incentive can be a great way to pay off remaining debts, or to start anew by relocating to a new home.

Applying for a Chase Short Sale

People who would like to apply for a short sale with Chase can simply do so, on their official website. On the appropriate page, two information packets for Palm Beach Gardens are listed: A full packet, which is intended for first-time short sellers who have not yet requested for a loan modification and a supplemental package for previous and pending applicants.

West Palm Beach Short Sale RealtorBoth packets are required to be printed out, filled out and signed by the appropriate parties in Palm Beach Gardens. Supporting documents also have to accompany these forms, and can be organized with the included checklist. The packet should then be submitted to the Chase offices through mail. Chase also proposes free FedEx shipping for short sale application packets.

The documents required from applicants in Palm Beach Gardens are as followed:
1. Borrowers and Co-borrowers
.Length of service with current employers
.A full and most current month’s bank statement
.Two most recent pay stubs per borrower
.Wage Earners who are employed

• Self-employed borrowers
o Audited or reviewed YTD income statement/ P&L statement
o Last two years’ 1099 forms
o All pages of recent personal bank statements from the last four months in Palm Beach Gardens.
o All Borrowers
.Purchase/sales contract
.Evidence for occupancy
.Complete, recent and signed tax return forms
.Listing agreements
.Detailed listing history
.HUD, or the Estimated Closing Statement
.3 comparable real estate listings/sales, complete with pictures of the property and surrounding neighborhood
2. Real Estate Agents

West Palm Beach Short Sale RealtorAlso included in the series of Chase Short Sale application forms in Palm Beach Gardens Florida is a hardship affidavit. In this section, a selection of hardships may be ticked in the appropriate check boxes based on the borrower’s hardship. A separate hardship letter can be written on the back of the form if necessary.

Chase Short Sale Cash Incentives

One of the most widely publicized cases of a Chase short sale occurred in November of 2011, when a representative of Battiata Real Estate Group helped a family close out a short sale deal, along with a generous $ 30,000 cash incentive. The home itself closed out at a sales price of $ 420,000. Some of the cash incentive also remained payable to real estate brokers, too.

Similar to many other real estate companies and financial institutions that boast about cash incentives, you will have to read the fine print in order to receive any at all. Some banks only hand out cash incentives in certain circumstances, like closing out a short sale in a set period of time in Palm Beach Gardens, in order for a homeowner to be eligible. These criteria can vary depending on the situation, even within Chase guidelines.

Chase advertises cash incentives of up to $ 35,000 for homeowners wanting a short sale. A cash incentive is a common way for banks to lure in customers in Palm Beach Gardens Florida who are on the brink of foreclosure, and Chase is no different. The amount you receive as an incentive may vary, and not be enough to pay back lenders in many cases, but a shot at a cash bonus is always something good for a financially unstable homeowner to gun for.

Chase bank will also pay cash incentives for older Washington Mutual loans in Palm Beach Gardens, due to Chase’s buyout of the company in 2008. Washington Mutual points can even be redeemed with a Chase bank online account for cash rebates, rewards, and other benefits.

Be knowledgeable that homeowners will not receive cash incentives from the proceeds of the actual short sale, and that the exact amount of cash incentives will be decided by Chase and your other lenders in Palm Beach Gardens. Make sure that you call up the Chase offices, or your debt holders and other banks if you would like to discuss the terms involved with a cash incentive.

About JP Morgan Chase & Co.

JP Morgan Chase & Company is a multinational banking corporation that deals with all sorts of finances in Palm Beach Gardens Florida. In terms market capitalization and assets, JP Morgan Chase & Co. is the largest bank in the United States, and ranks as Forbes Magazine’s #1 largest public company in the world. It is also known as a part of the Big Four banks, next to Wells Fargo, Bank of America and Citigroup.

West Palm Beach Short Sale RealtorThe company came as a result of a merger between JP Morgan & Co. and Chase Manhattan Corporation. The JP Morgan division manages investment and private banking, as well as asset management and securities services in Palm Beach Gardens. The Chase side of things continues to handle retail banking activities across the United States, including loans, mortgages, and short sales. With short sales, come Palm Beach Gardens short sale specialists who have far reaching training and experience in the short sale process. Contact an experienced short sale Realtor today and see if you qualify for a short sale!

Rodney Forbes is a Realtor® and registered broker with Forbes Realty of South Florida, based in West Palm Beach Florida. Rodney and his team work in Palm Beach, Broward, Martin and St. Lucie Counties. As a recognized expert on short sales, Rodney has been featured on radio and national web conferences for agents. Rodney has also authored the book “Should I Short Sale My Home?”

Forbes Realty of South Florida also specializes in REO asset disposition. Rodney works with several banks and asset managers in the Palm Beach County area. Rodney is the main author for the popular real estate blog South Florida Real Estate Report. You can find a wealth of information regarding bank foreclosures, short sales, real estate news and local real estate trends.

For more information, please call Rodney at 561-337-4810 or email Rodney@ForbesRealtyOnline.com

 

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