Realtor Short Sales Training and Resources
I have a HAFA short sale where BoA is the 1st and Chase is the 2nd. We have an excellent offer and HAFA approval. Chase has agreed to participate in HAFA short sale and release the 2nd for $6000. Everyone is in agreement. Sounds great right? Wrong.
Chase will not provide a release letter without formal approval letter from 1st. BoA cannot give the formal HAFA approval letter without 2nd release letter. We have provided a BoA watermarked "unofficial" approval letter to Chase, along with other documents showing the homeowner is in the HAFA program. BTW, our file at Chase is being handled by ACG (Ascension Capital Group).
I have worked this file all the way to the president of Loan Resolution (who handles HAFA files for BoA). He assured me they cannot send the official HAFA approval letter prior to receiving the 2nd release and remain within the Treasurey Dept guidelines. He has offered to do a conference call with someone at Chase to try and resolve the issue.
Does anyone have an executive level contact at Chase or contact information for a resolution dept, etc.? I have found the best way to get action at BoA is to go through their twitter resolution team, but have not been able to escalate effectively within Chase.
Any help would be greatly appreciated.
Thanks.
Tags: America, Bank, Chase, HAFA, of
Permalink Reply by Jill Eastman on August 15, 2011 at 2:09pm Tonda,
I take my files to the CEO, Jamie Dimon. His email is:
Of course he will not call you, however you will get a call from their corporate resolution team who will be able to help yhou from there. The last time I did this, I received a phone call within 2 hours of sending the email.
Good luck!
Regards,
Jill
Permalink Reply by Debbie Parkans, CDPE, CSSG, CRS on September 8, 2011 at 11:32pm
Permalink Reply by Phyllis Ballew on August 15, 2011 at 2:30pm Contact CEO Jamie Dimon's Executive Team at 212-270-1111.
Permalink Reply by Debbie Parkans, CDPE, CSSG, CRS on August 15, 2011 at 3:30pm Hi Debbie,
Sorry to hear your HAFA is suddenly having the same issue as mine. If I get anything resolved I will fill you in.
I just spoke with someone at Chase and they are saying BoA has self imposed the guideline where they won't issue an official letter. Both BoA and Chase continue to point the finger at each other and no one will get this resolved.
Very disappointing. The poor seller and buyer deserve better than this.
Permalink Reply by Jill Eastman on August 15, 2011 at 3:35pm Tonda,
Do you know who the investor is on this loan? I have had good results going to Fannie mae and Freddie Mac directly when having issues like this.
Hope this helps!
Permalink Reply by Debbie Parkans, CDPE, CSSG, CRS on September 8, 2011 at 11:32pm
Permalink Reply by Kim And Kristine Halverson on September 21, 2011 at 1:43pm 
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