First short sale

I have a house with a first and second morgage. 1st is for 200,000 with chase. anyone who has had experience with chase bank would appreciate any advice in negociating with them

Done plenty with Chase. I would recommend shorting the second before touching the first. The second lienholder knows they’re in an inferior position so they’re more likely to discount the note…at least this is what we’ve experienced. In most cases when a 1st and 2nd are involved, the appraised value tends to be more than what is owed to the 1st anyway. Are you approaching this from an investor or real estate agent’s point of view?


I am approaching it as a investor ponit of view. How would you recomend that I approach the lenders? I comped the house and the value is about 275,000, but the house that I am looking at is the only one in the neighborhood with 5 bedrooms and a office. All the comps I looked at are the exact same house except for the fact that the great romm was walled up and turned into 2bedrooms and 1office.