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Need some advice

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Rocket33
New Member

Need some advice

In the final phase of underwriting and a BIG problem has come up...

In 2010 I had a 2nd Mortgage with Chase that after falling behind was offered a settlement.

Within in a short time I was able to come up with funds to pay settlement.  Here's the issue,

I am trying to purchase a new home and am told by underwriter that this is showing as a short sale

through Fannie computer.  The difference between balance and settlement was $13k.  I contacted Chase

and was told that a settlement and short sale are the same as far as credit reporting.  Chase stated I could

pay the $13k and they would mark account Paid as Agreed.  Any thoughts on any other options?

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