“We would like to talk with you about the possibility of selling your home for less than the amount you owe. If we agree on a lower sale price and a few other terms and you sell your house for that amount before foreclosure, you will get $20,000.”
That is what it states in a letter sent from Chase to a homeowner facing foreclosure. On its face, this does not appear to be a bad offer for troubled homeowners. Of course, we, as attorneys, would want to know what the ‘few other terms’ are before advising a homeowner regarding this program.
We understand that short sales are not the best course of action for some homeowners facing foreclosure. However, If this is a legitimate program offered by Chase, it could make short sales a lot more desirable for troubled homeowners.
As always, The Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island at 217 Willis Avenue in Mineola, NY 11501. You can contact us at (516) 858-2620 to speak with an attorney.
Thanks for stopping by. All the best!