JP Morgan Chase is setting out to close short sales in less than 30 days, Bill Carr, vice president of short sales, told participants in a recent HousingWire webinar, â€œShort Sale Process with Chase Bank.â€
"We are doing everything we can to avoid foreclosure," Carr said.
Carr said the bank is using initiatives such as the Short Sale Accelerator Program to offer cash to borrowers to complete short sales, over letting the home fall into foreclosure.
Carr said during the webinar that the company was looking to recruit more qualified short sale agents to handle the large number of â€œpreapproved buyers waitingâ€ to buy these homes.
Source: â€œJP Morgan Chase VP Wants Short Sales Closed in 30 Days or Less,â€ HousingWire (March 5, 2013)
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