If you are thinking about a short sale and your original mortgage was with Washing Mutual and is now with Chase Bank, they are looking to remove those mortgages off their books and they may have the exit strategy you may be of interest to you?
Chase bank has been offering up to $30,000 cash at closing to people that are behind in their mortgage (underwater is a good term ) but you have to qualify. Yes you read this correctly up to $30,000 cash at closing and they will wave any future deficiency to you!
You will never owe then another dime again! Here is the catch:
(1) Home owners who initiated their mortgage with the now out of business Washington Mutual home loans are qualified.
(2) The home owner must truly be underwater. meaning their home is worth a lot less today then what is currently owed on the home.
(3) Your cash amount paid at closing is based on your size of your loan amount and what your currently owe them.
(4) You must show you are under some type of hardship and no longer can afford your current mortgage payment.
I am not really sure how many Washington Mutual Loans where written in Southwest Florida, but it will be interesting to see if these big incentives have an impact of our real estate market in southwest Florida.
I have successfully closed short sales with JP Morgan/ Chase Bank. So if your decide or have questions about doing the short sale with Chase bank give me a call and I will help you with the process. I do not charge anything to the home owner my commission is paid by the lender at closing.
I look forward to talking to you.
Joe Kendall, Broker Associate
Right Choice Realty
Phone 239-560-0726
Email joek4realestate@aol.com
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