Chase Short Sale is a foreclosure alternative suited best for the homeowners having to pay more than what their home is currently worth. If you meet the eligibility requirements set under Home Affordable Foreclosure Alternatives (HAFA), you will receive an additional $3,000 also for relocation expenses.

If however you do not qualify for HAFA you still have the option to go for a regular Chase short sale process. The application starts with the submission of your request for a mortgage short sale. But before beginning the process ensure that you have explored loan modification and all other options under home retention program of the bank.

Chase Short Sale Package

Chase Short Sale Information Packet comes in two versions. The full package allows you to be considered for loan modification options also, if you have not yet submitted any request for these. The supplemental application packet, on the other hand, contains forms and guidelines necessary to initiate a home mortgage short sale procedure. Chase short sale package typically consists of application form, required documentation checklist, IRS form 4506-T and an authorization form for real estate agents. Both versions of application packet can be downloaded in PDF format from the website of JP Morgan Chase Bank.

Chase Short Sale Process

After downloading the desired short sale information packet get it printed and complete the different forms. Read guidelines and collect necessary documents as laid out in the documentation checklist. Now send the completed package via mail or fax to the address mentioned in your packet. Following the receipt of your application a loss mitigation specialist will be appointed by the Chase short sale department to look into your matter.

He/she will also ensure that you get the approval letter according to the usual timeline of the process. The general timeline for the approval process to get over is typically 30 days, but your approval letter may also get delayed on certain occasions. The letter contains the terms of short sale including issues like deficiency balance and the sale of property. Note that the bank does not pay for any third party negotiator.

Chase Short Sale Department

Chase Short Sale Department offers assistance in completing the information packet. You may want to seek the help of an officer to fulfill the application requirements and solve problems you might face during the approval process. The phone number to contact this department is 800-446-8939 for JP Morgan Chase customers and 800-848-9380 for WaMu customers. EMC Customers can call 866-483-0153. Here are mailing addresses to send your application.

By Regular Mail:
Chase Fulfillment Center
P.O. Box 469030
Glendale, CO 80246

By Overnight Mail:
Chase Fulfillment Center
710 South Ash Street
Suite #200
Glendale, CO 80246

By Fax: 866-220-4130

EMC customers can use the same address of the department as shown above but they need to replace Chase Fulfillment Center with EMC Fulfillment Center. The fax number for them is 877-601-2677.