I just tried my first short sale with HSBC. They were friendly & easy to deal with but very tough negotiators. They only wanted the BPO price and nothing else. I think my problem was that the property was in great shape, it was way over mortgaged and other properties in that neighborhood are selling quickly and sometimes above asking price.
Hope this helps,
Brian
[ Edited by Eastpointe on Date 04/01/2005 ][ Edited by Eastpointe on Date 04/01/2005 ]
My SS with them
1st(homeq) - $110k
2nd(HSBC) - $9k
1st took $77k
2nd took $2.9k to release the lien from the property and they would have to continue paying.
I could have gotten HSBC to take $1k to release or even $500 but my HUD showed me getting a 7% commission and they only allow a 5% so they stole my 2%.
Quote:
On 2005-04-01 09:45, Eastpointe wrote:
I just tried my first short sale with HSBC. They were friendly & easy to deal with but very tough negotiators. They only wanted the BPO price and nothing else. I think my problem was that the property was in great shape, it was way over mortgaged and other properties in that neighborhood are selling quickly and sometimes above asking price.
Hope this helps,
Brian
<font size=-1>[ Edited by Eastpointe on Date 04/01/2005 ]</font>
<font size=-1>[ Edited by Eastpointe on Date 04/01/2005 ]</font>
Yes.
How was the process? Are they investor loans or pooled loans based, and anything else thats helpful.
I just tried my first short sale with HSBC. They were friendly & easy to deal with but very tough negotiators. They only wanted the BPO price and nothing else. I think my problem was that the property was in great shape, it was way over mortgaged and other properties in that neighborhood are selling quickly and sometimes above asking price.
Hope this helps,
Brian
[ Edited by Eastpointe on Date 04/01/2005 ][ Edited by Eastpointe on Date 04/01/2005 ]
My SS with them
1st(homeq) - $110k
2nd(HSBC) - $9k
1st took $77k
2nd took $2.9k to release the lien from the property and they would have to continue paying.
I could have gotten HSBC to take $1k to release or even $500 but my HUD showed me getting a 7% commission and they only allow a 5% so they stole my 2%.
Quote:
On 2005-04-01 09:45, Eastpointe wrote:
I just tried my first short sale with HSBC. They were friendly & easy to deal with but very tough negotiators. They only wanted the BPO price and nothing else. I think my problem was that the property was in great shape, it was way over mortgaged and other properties in that neighborhood are selling quickly and sometimes above asking price.
Hope this helps,
Brian
<font size=-1>[ Edited by Eastpointe on Date 04/01/2005 ]</font>
<font size=-1>[ Edited by Eastpointe on Date 04/01/2005 ]</font>