HSBC as second lien holder --- how can we get a new loan negotiator?
First lender is American Home Mortgage. They were easier to deal with.
But second is with HSBC whose negotiator has been unreasonable, unbending, unreliable, unresponsive.
Buyer wrote great offer that seller accepted in August. HSBC balked at first pay off by American. American came back with revised payoff of 15% of HSBC loan.
No response from HSBC.
Buyer walked. We were able to bring him back. But Buyer revised offer downward. Provided new HUD.
Buyer even willing to contribute to help payoff HSBC, and American is willing to compronmise --- but until we hear back from HSBC, we don't know what they're willing to accept.
Who are the managers at HSBC, and how do we get hold of them
Replies to This Discussion
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Permalink Reply by Kynse L. Agles CDPE on
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I closed one with HSBC, my negotiator was Carol Benforardo. There was $35,000 owed on the equity line (not including penalties and interest, seller had not paid in over 3 yrs). HSBC took $3500 for a ful release of mortgage, note and lien. Turn around was very quick, 1 month from contract to approval. I would offer 10% and then go back to the first to get that amount approved after HSBC issues their approval.
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Permalink Reply by Pacita C Dimacali on
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Nice to hear that at least ONE negotiator is responsive. I must have the worst one of all: Luz Tapia.
Been trying to get another one assigned --- and tried to contact her supervisor Michael Ground, but no response from him either.
Does anyone know how I can get hold of someone above these folks?
Kynse L. Agles said:I closed one with HSBC, my negotiator was Carol Benforardo. There was $35,000 owed on the equity line (not including penalties and interest, seller had not paid in over 3 yrs). HSBC took $3500 for a ful release of mortgage, note and lien. Turn around was very quick, 1 month from contract to approval. I would offer 10% and then go back to the first to get that amount approved after HSBC issues their approval. -
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Finally getting some ground......Seller was able to get hold of HSBC who agreed for payoff of $20K (over 15% of loan balance). Buyer offering to pay the difference between what AHM will offer HSBC. Had to resubmit updated financials for AHM review. But at least we're communicating.
Guess it depends on which negotiator you're lucky or unlucky enough to get.
>SIGH/body> -
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Permalink Reply by Stephanie Jarman on
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Hi Pacita, Wondering if you can share your final result from the above deal? I am heading into one where HSBC is the 2nd and want to arm myself accordingly. Thank you in advance!!
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