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Northeast OH Short Sale: I’m having a hard time negotiating with a HELOC



“What is your experience with Chase Heloc’s? I have a HELOC that is a 2nd mortgage. Citi (the 1st) will give them 6% or approximately $3000. Chase’s collection agency is saying that they want 30% ($30,000.)

They won’t budge. They want this in CASH, not as a promissory note (in case the seller does a bankruptcy.) They are telling me they will just let the house foreclose because that is Chase’s policy now. What do you recommend that I do?”

Get my Free, Step By Step Loan Modification Guide by clicking here.

Here was our answer to the question. Most third party collection agencies are very tough to negotiate with. They are completely unreasonable.

They are so trained to give ultimatums that they will not budge, no matter how much logic and common sense you bring to them. Here is what you can do.

Go around them. Contact Chase’s CEO. We have been able to contact the CEO of Chase, Jamie Dimon’s Office on other Chase files. Show them that they will receive less in a foreclosure than the $3,000 available now.

Hopefully they will tell the collection agency to approve the $3,000 deal. If that doesn’t work, then ask to speak with a supervisor at the debt collection agency.

Show the how they will actually net zero when the property is foreclosed upon. Tell them that they have to either approve the $3,000 or take zero.

Tell them that rejecting the $3,000 means their client will net zero. Then, tell them that after the property is foreclosed upon, that you will contact their client and let them know how the collection agency’s actions caused them to lose $3,000.

Thinking about a loan modification?Our Northeast OH loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at to request a Free Copy. Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH Ohio. Northeast OH Loan Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Rocky River Short Sales. Rocky River Loan Modification Help, Rocky River Short Sale Realtor, Bay Village Loan Modification Help, Bay Village Short Sales, Bay Village Short Sale Realtor. Avon OH Loan Modification Help. Avon OH Short Sales. Avon OH Short Sale Realtor. Avon Lake Loan Modification Help, Avon Lake Short Sales, Avon Lake Short Sale Realtor. North Ridgeville Loan Modification Help. North Ridgeville Short Sales, North Ridgeville Short Sale Realtor. Sheffield Lake Loan Modification Help, Sheffield Lake Short Sales, Sheffield Lake Short Sale Realtor. Columbia Station Loan Modification Help, Columbia Station Short Sales, Columbia Station Short Sale Realtor. Grafton Loan Modification Help, Grafton Short Sales, Grafton Short Sale Realtor. Northeast OH Short Sales. Northeast OH Realtor.

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