702-482-7739 - Chase Short Sale Agent in Las Vegas - http://www.shortsaleinnevada.com - The Ballen Group - Las Vegas Short Sale Specialists
CHASE Frequently Asked Questions answered
How long does the process take?
Once all required documentation is submitted a decision is typically completed within 30 days. Common reasons decisions may be delayed include low offers for your property which are under fair market value and junior liens held by other banks or individuals that also need to agree to a short sale. Depending on the type of loan, an investor and/or insurer may also need to approve the sale.
Will I have any tax liabilities?
Consult your tax advisor to see if you will incur any tax liabilities as a result of the short sale.
How will a Short Sale affect my credit?
The completion of a Short Sale may affect your credit rating. The final disposition of a completed Short Sale may be reported as "Account paid in full for less than the full balance" on your credit report.
Does Chase charge a fee for the completion of a Short Sale?
No, Chase does not charge a fee for processing or completing a Short Sale.
I signed up with a Short Sale negotiation service. Will Chase pay their fee?
No, Chase will not pay any 3rd party Short Sale negotiation or processing fee nor allow this type of fee to be deducted from the proceeds of the sale of the property.
Will I be required to pay back the amount of the shortage or the deficiency balance?
The approval letter will specify the terms of the Short Sale approval. Your Loss Mitigation specialist will be able to explain whether the deficiency balance will still be owed.
My loan is in Foreclosure. Can I still be considered for a Short Sale?
Yes, however the Foreclosure may continue during the process. Please contact your Loss Mitigation specialist for more information.
My loan is current. Can I still be considered for a Short Sale?
Yes, however the required financial documentation must be submitted along with a detailed Hardship letter explaining the inability to continue to maintain your loan payments.
I have two loans. Can I still be considered for a Short Sale?
Yes, however if the 2nd loan is with another bank they will need to approve the Short Sale separately.
My property is a rental. Can I still be considered for a Short Sale?
Yes, however you must include rental income documentation, which will include bank statements, rental agreements or an explanation letter if rents are not being generated.
Do property taxes need to be paid during the Short Sale process?
Yes, if your property taxes are not escrowed as part of your loan payment and they become due they should be paid.
I filed Bankruptcy. Can I still be considered for a Short Sale?
Yes, however consult your Bankruptcy attorney regarding the process of selling your property during a Bankruptcy.
I want to deed my property to Chase. I have heard this is possible through a Deed in Lieu of Foreclosure. Is this an option?
This may be an option however it is recommended the Short Sale option is reviewed first. Please contact your Chase Loss Mitigation specialist for more information.
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Short Sales are common in Nevada. You have nothing to be embarrassed about. You DO need to act Quickly though. We understand the Nevada Foreclosure Timeline and are here to answer your Short Sale Questions. Our Las Vegas Short Sale Specialists are standing by so call 702-482-7739 or GET SHORT SALE HELP IN NEVADA NOW by requesting help online. There are NO upfront fees to worry about so we can get your Las Vegas short sale started today. When you call 702-482-7739, a Las Vegas Short Sale Agent will schedule a time to meet and put you in touch with legal counsel should you want to discuss short sale vs. foreclosure options. WE CAN HELP - but you must act now. Call 702-482-7739 Now. |
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