JP Morgan Chase Short Sales

[by Jason Ian Hector, REALTOR® Updated 03/01/16]
As a REALTOR® who has done quite a few short sales, I must say that JP Morgan Chase is one of the easier lenders to work with.  I say this because I was able to complete a recent one in West Hills where Chase was the first lender.  We were so close to the trustee sale and needed several postponements to get the deal done.  They were very cooperative in getting those postponement once we showed that progress was being made.  Also, I had another positive experience on a HAFA Short Sale in Simi Valley where after loosing a buyer because of the poor condition of the property and problems with the lender, they were willing to approve a lower offer from a cash buyer.  JP Morgan Chase is a participating lender in the Making Home Affordable Program so if the investor allows, they may allow you to apply for MHA programs such as the HAMP loan modifications and HAFA short sales if the borrower and property are eligible.
A short sale is a liquidation plan which is an agreement in which the mortgage lenders or other lien holders agree to accept a payoff on the loan for less than the current balance.  This option is typically used when a loan modification has been unsuccessful in making the payments affordable to the homeowner or when a hardship exists such as loss of job, decrease in income, divorce, illness, death in the family, and many other reasons.  Lenders will typically consider a short sale even when the loan is current if they feel it is in their best interest.  Many lenders agree to a short sale because they receive more of the loan balance in comparison to the amount from selling the home under foreclosure. 

A short sale is typically a very complex transaction and is definitely not your typical real estate transaction.  Homeowners should hire a qualified and experienced Realtor, like myself who has successfully closed complex short sale transactions. I am experienced in negotiating with multiple lienholders, managing and selling distressed properties and helping homeowners with the stress of the property.  As an experienced Realtor, I can set your expectation about the process and take the burden of managing the property and dealing with the lender(s).

To find out if you are HAFA eligible, call me so I can meet with you to discuss your options.  You may have already been solicited by your lender.  This typically happens soon after being denied for the Making Home Affordable Loan Modification.  This is the alternative program which is also sponsored by the US Treasury Department.  There are homeowner benefits which include relocation assistance, deficiency judgement protection, and protections against foreclosure while being reviewed.

Borrowers are encouraged to contact me immediately upon receiving the HAFA Solicitation since there is only 14 days to respond before they can proceed with foreclosure action.  Once enrolled in the HAFA program, the foreclosure can be postponed.  Once you are close to a trustee sale, there is less time to get the home on the market, find a buyer and submit all the paperwork making it more likely that the home will be taken by the bank.  I am a licensed broker with extensive short sale experience who will work hard for you.  It is my goal to help ease the stress of an already difficult situation.

Chase Short Sale Dept. Phone and Fax Numbers

Lender 1st or 2nd Phone Fax
Chase Short Sale Dept. First Mortgage 866-233-5320 866-220-4130
Chase Short Sale Dept. Second Mortgage 866-277-1348 866-220-4130
Chase Recovery Dept. Second Mortgage 877-836-3040 866-220-4130 
Chase Loan Modification Dept. Submission 866-550-5705 866-220-4130
Chase Loan Modification Dept. First Mortgage 866-700-0043 x3860820 866-282-5682
Chase Loan Modification Dept. Second Mortgage 866-307-8268 866-282-5682

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Jason Ian Hector, CalBRE LIC #01481898
11630 Seminole Cir • Porter Ranch, CA 91326
Cell: (818) 357-9658 •