Work smart, not hard by focusing on short sales you can actually close. Only ForeclosureRadar lets you search for potential short sale listings with only one open loan and an easy to deal with lender.
HSBC
Short Sale Report
| Time to Acknowledge |
Time to Approve |
Commissions | Full Release Available |
Comments |
| over 5 days | 60+ days | 5% | tough |
1sts - You can usually get someone to talk to. Experiences seem to be uneven - some o.k., many not so o.k. Not fast movers, budget over two months for an approval.
2nds - For some reason HSBC uses Century Credit to collect documents on junior liens - then Century Credit starts calling for file updates. Go figure. Watch out for the HSBC recovery department after a "charge off." Not very nice overall on 2nds. Frequently takes the position that if the homeowner doesn't give a pound of flesh they are going to punish them with a foreclosure.
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