Does anyone have an escalation contact at HSBC.
I have a deal where the 1st lien has approved the short sale and is giving HSBC $1,500. The balance owed to HSBC is $38K and the person I spoke to yesterday said they wanted $23K payoff!!!!!
If the seller had $23K in the Bank he wouldn't be doing a short sale... It didn't sound like I was speaking to someone at the short sale dept. so I just wanted to see if anyone here had a contact person that can push this deal forward at HSBC
Thanks in advance
Did you get any answer to your question? I sent in a package to HSBC (they are the 2nd lien) and without even a phone call faxed me an approval letter with an amount to pay at closing. Seller filed bankruptcy, no job, and can't give a dime. First lien, an FHA loan with BOA doesn't want to pay a penny towards the 2nd but I still added $1500 on the HUD. No reply from first yet. Were you able to negotiate the 2nd down to $1500? .
HSBC usually doesn't even ask for financials, but you might want to include them to prove the sellers inability to pay down the mortgage. Also a first lien approval showing the amount allowed to the 2nd might help also. You can also send a BPO if you need to prove value.