HSBC Approval Expires and New Approval is $2500 More - affecting closing!
HSBC is third lienholder. We had a $3000 approval in October 2009. It expired Jan. 15.
First and Second are BofA - just received BofA approval Feb. 12.
Called HSBC for new approval letter; sent updated financials.
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New negotiator assigned when approval expired.
New negotiator and supervisor are stonewalling at $5200.
They don't care if it goes into foreclosure. When Frank mentioned the OCC to the Supervisor, she said he was threatening her and hung up on him.
Sellers are tapped out with bringing cash to table; we agents are already contributing funds just to get it closed. We need to make some money.
Does anyone have numbers for Executive Offices of HSBC?
Replies to This Discussion
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Permalink Reply by Keith Turnbull on
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I am at this very moment having the same problem with HSBC, They are the second and BofA is the first. I got approval from HSBC back in August of 09 but didnt get Approval from BofA until JAn 2010, HSBC had given two extentions waiting on Bank Of America however this last time, in January it gets assigned to a new negotiator and now WE have to provide them with Updated hud, Full Payoff from Bank of america AND an appraisal, yes they made us get the appraisal. Now they are arguing the appraisal amount and wanting more than the 3000 that BofA is allowing them. and the property goes to sale in 3 days.
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Permalink Reply by Stephanie Jarman on
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Hi Keith and Sharon, Can you help me by updating your stories--were you ever able to get HSBC to cooperate as the 2nd lienholder? I am entering into a similar situation and trying to arm myself. Thanks in advance!!!
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