Spokanes's Best Real Estate Team
Phone: (208)880-6927
Fax: (208)472-8650
 



Spokane , WA - 25°

NEW: Developed with you in mind: a comprehensive Spokane Short Sale Information site. Discover trained, certified short sale experts who help homeowners avoid foreclosure and get results.

Your trusted source for investment property listings and resources, relocation help, short sale expertise, and home buying tools in the Spokane, Washington Area.


Welcome to Spokane's Best Real Estate: a full-service company that takes an innovative, team-based approach to meeting your Spokane real estate needs. Areas of expertise include real estate investment (including short sales, rentals and foreclosures), relocation services and residential purchases and home sales. Browse Spokane homes for sale, learn more about our real estate and marketing team and meet our licensed Washington Realtors.
Spokane_Short_Sale_Expert
Spokane_short_sale Understand Short Sales
Leigh Wilson is your professionally trained, Spokane short sale expert Realtor. Read our Frequently Asked Questions, browse short sale listings, and get tips on how to avoid foreclosure in Washington.
Click Here
Spokane Mortgage Calculator Calculators & Tools
Maximum Loan
15 vs 30 Year Mortgage
Mortgage Payoff
Rent Vs Buy
Compound Interest
Spokane Riverfront Park Spokane at a Glance
Get to know the Spokane WA area and all it has to offer. Browse events, venues, the outdoors, learn about Spokane's history and more.
Click Here
Relocate_to_Spokane_WA Relocating to Spokane?
We help you relocate to Spokane with ease. Read our FAQs about relocating and, if you are planning to relocate, request a free relocation packet full of maps and helpful information!
Click Here
Quick Search
Find Properties Fast!
City:
Beds:
Baths:
Low Price:
High Price:
(example: 125000 to 250000)
Spokane_Home_Value What is Your Home Worth in Today's Market?
Learn the current market value of your Spokane home or property by filling out this short questionnaire. Free and no obligation!
Click Here
 

Spokane's Best Real Estate Blog

visit our blog
Chase short sale incentive could mean cash to you

Most banks figure they're doing homeowners a favor simply by agreeing to a short sale and forgiving the amount they owe. But in some cases, Chase borrowers are getting that and cash.

Chase, one of the nation's largest lenders, is quietly offering some homeowners a deal many distressed homeowners think is too good to be true (we get calls all the time!).

Chase is giving borrowers $5,000 to $30,000 if they’ll agree to short sale of their house. A Short Sale is selling the home for less than they owe on the mortgage.

The program launched last fall, and information on who qualifies and who doesn't is still an insider secret as Chase is mum on the details. Chase is aggressively targeting its problem loans as some homeowners receive a letter before their property is listed on the market. By using our successful transactions in dealing with Chase, we have compiled a list of Chase's target loans. Here are a few of the common ones:

The homeowners have a Chase "portfolio" loan, or a loan owned by Chase but not serviced by Chase.

Or the homeowners have a bad loan (adjustable rate is too high), maybe they tried a loan mod, or did a quickie refi.

Investment property gets the nod as well.

The official name of the program is a mystery as well; some say it's the "Chase Incentive" program, while others call it the "List Assist".

What we believe has happened is that the original loan was bought by Chase (from companies that have dissolved such as WaMu, Countryside, IndyMac), and it was bought out for pennies on the dollar. Now the banking industry is being legally challenged to prove it has the right to foreclose. When asked to present original documents on these bought out loans they cannot produce them. So a quick and profitable fix is offer cash to distressed homeowners. Chase will make more money if a property goes away fast in a short sale vs. attempting foreclosure and being legally challenged to produce documents they will never find.

Bottom line so far is a win for everyone; homeowners are assisted with CASH, no soft notes, no risk of judgments, less paperwork. Chase cleans up its banking mess. Transactions are fast.

Call us and we will help you to see if this program will work for you.

Footnote: Wells Fargo just launched this and Bank of America is expected to go public this fall with a program as well.

This blog is relevant to:
Avoiding Foreclosure , Short Sales , Incentives
 




Phone: (208)880-6927 Fax: (208)472-8650

© Copyright 2012 Spokane's Best Real Estate. All Rights Reserved.    Keller Williams Spokane Real Estate