Home Buying in 19709>Question Details

Sb, Home Buyer in 19709

Does anyone have experience with Chase bank as to how long it takes them to approve and provide closing?

Asked by Sb, 19709 Thu Mar 5, 2009

instructions once they have accepted a short sale offer and receive the final HUD-1? It has already been a 3-month process with them (2 months to give verbal approval, and another month to put that in writing). The written approval says they need to receive the final HUD-1 72 hours prior to the scheduled closing date, but I am wondering if they will actually send the closing instructions back in time to close on the scheduled date. I am concerned because our loan commitment will expire if they don't....

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You are at the banks mercy. A lot depends on the documentation already provided to the bank by the seller with respects to the short sale. If the bank has everything in place from the seller then I have had responses from Chase in a matter of weeks. They do have to review, appraise and then take to committee. Good luck, this can be a long process.
1 vote Thank Flag Link Tue Aug 11, 2009
I tend to ask clients to try the local mortgage companies over the big banks lately.
0 votes Thank Flag Link Wed Sep 26, 2012
The real answer is for Bank of America; 4 weeks for conventional, 5 weeks for FHA, 5-6 weeks VA. In special cases that need extra documentation or credit repair, the time is longer. Some of our lenders can close somewhat faster in emergency circumstances.

Please call me if you need assistance.
0 votes Thank Flag Link Thu May 13, 2010
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