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Can a short Sale be done in 30 days

May 21, 2008

Our property is in Georgia, my husband transferred with job Jan 07 while I stayed in Georgia with house on market.We had our house on the market for 11 months before we found a renter who made 4 payments to us and none since January.At the time of rental contract they said they would buy house when their house sold, they have been evicted. We are 120 days behind, Chase is giving us 30 days to shortsale, Chase says they do not do Deed in Lieu for a Georgia property.Originally Chase gave us the Deed in Lieu option. We would like a deed in lieu, if not short sale. I do not have a lot of time. Is it true Chase does not a deed in lieu for Georgia properties???

Comments

I might work at chase. Most likely no. They drag their feet. best of luck to you. The reps at chase home finance are all confused, none of us know exactly what we are doing, b/c they change the f'ing rules and regulations so fucking much. As much as i would love to go in there and actually help people, its not in the business's best interest at this time, so I say fuck it, get my check, and try to be honest with people b/c it's how I was raised. DIL will ruin your credit, a short sale will result in a 1099 you have to pay back every year, and negative credit reporting. My best advise is to get offers, send them in and keep calling. b/c i bet, when u send it in, after 30 days, your acct might just be being opened and actually looked at. sucks but its true. People need to come together and stop letting these fuckers run our lives!

Posted By no name on July 13, 2008 at 11:30 AM

Does anyone know of someone who will buy my home - in a shortsale- settlement letter is for $163,000.00 and then rent it back until I find a new place to live?

The home was appraised for 260K and the comps in the area go for 272K - 350K...or more. I know someone could make a good profit....just want to buy myself a couple of months until I find a place for my 6 yr old daughter and myself.

Catch is CitiMortgage wants the money by 7/25/08...asked for an extension, maybe could be done. Sheriff sale is listed for 8/4/08.

Any advice or help is greatly appreciated.

Thanks much!
Christine
414-534-3646

Posted By Christine on July 16, 2008 at 11:23 PM

Once you fill out the short sale packet online (both the borrower and co borrower) homeq can't do anything until we receive a signed purchasing agreement from a licensed realtor. Until then you are still obligated by contract to make your monthly payment.. sucks I know.

Posted By Homeq Employee on September 27, 2008 at 01:05 AM

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Can a short Sale be done in 30 days

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