What are the chances of HSBC approving a short sale when the seller is not behind on payments. The seller has a hardship of relocation to a different state. Thoughts???

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That decision comes from the investor, not the servicer. HSBC does what it is told, more or less.

It will depend on the investor but both Fannie and Freddie will approve short sales when the borrower is current. I do a lot of these.

  • The new guidelines, which go into effect Nov. 1, 2012, will permit a homeowner with a Fannie Mae or Freddie Mac mortgage to sell their home in a short sale even if they are current on their mortgage if they have an eligible hardship. Servicers will be able to expedite processing a short sale for borrowers with hardships such as death of a borrower or co-borrower, divorce,disability, or relocation for a job without any additional approval from Fannie Mae or Freddie Mac.

Just completed one with no problem (non Freddie/Fannie or FHA). $3000 incentive. 3 week approval.

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