Twitter Counter

One Lender That Is Fun To Work With On Northeast OH Short Sales

Northeast OH – We recently closed another short sale. This short sale lender was so much more fund to work with than most lenders. The loan was owned by Household Finance, which is a division of the international lender HSBC.

We were assigned a short sale negotiator about 30 days after we submitted the short sale application. The short sale negotiator responded to us quickly.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

If we sent her an email, then we received a reply within a day or two. Contrast that with waiting for a week or more for a reply to an email with other lenders.

The short sale negotiators at the big national lenders often take a week or more to reply to an email or voicemail. Now, I am sure you are wondering why this is happening?

Why can’t the big national banks do a better job on short sale? Here is what I think. I have noticed one big difference between the loans that the big US based banks have and the loans that HSBC has.

HSBC owns their loans. If they don’t handle short sale negotiations properly and lose money as a result, then that affects their bottom line. HSBC stands to make or lose money as a result of their actions.

Contrast this with the large us based banks. One large national US bank does not own 80% of the loans they handle. Who cares if things are being handled properly?

It’s no big deal when a short sale is denied and sells for 40k less a foreclosure. They aren’t losing the money. Someone else is. The sad thing is that usually that person is Uncle Sam.

This is because Uncle Sam owns or insures about 65-70% of all the mortgages in America. Fannie Mae and Freddie Mac own about 55% of all US mortgages.

The rest are insured against loss thru FHA, USDA, and VA. If an FHA loan goes bad, then FHA takes the loss. Many experts are saying that FHA will need a bailout soon.

They estimate that FHA could lose up to 50 billion in coming years. This means people buying a home today will pay more for an FHA loan.

Uncle Sam may have to bail them out. The big national banks could do a better job ad short sales and other aspects of loss mitigations.

That would substantially reduce the losses on bad loans and help Uncle Sam avoid another bailout. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500.

View My homes for sale at

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

Leave a Reply




You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>