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Why Be Responsible When You Can Get A Bailout?

Northeast OH – Why does a British Bank do a better job than the American Banks?

We have always liked short sales with HSBC. They respond promptly and are easy to work with. The bottom line is that they do a solid, competent job handling short sales and loan modification.

I think the reason is because they never got a bailout from Uncle Sam. If they are incompetent, then themselves and their stockholders take the loss.

Menawhile, the large American Banks are awful to work with. I have countless stories of real estate agents working on a large national bank’s short sales for 6-9 months with no answer.

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

Want an answer to an e-mail? Be prepared to wait 1-2 weeks for that. The people are all overworked. In my opinion, the reason these companies don’t care is because they don’t own the loans.

For example, Bank of America only owns 20% of the loans they handle. And a lot of that 20% are probably guaranteed by the government because of their purchase of Countrywide.

Contrast this with HSBC. They own most of their loans. That means they are the ones losing money. I couldn’t find HSBC ever getting a bailout on the bailout search page. They have a well run bank.

All of their loan mods, short sales, and foreclosures are handled properly. Here is why. They are acting as a principal. If they do a lousy job, then they lose the money themselves.

On 80% of Bank of America’s loans, someone else is losing the money. That is why there is no sense of urgency at Bank of America. It’s like monopoly money.

Do you think a teenage kid is going to “hot rod around” in his Dad’s fancy sports car? Come on! We all know his Dad will treat his car a lot better than his kid will.

So, we can agree that people do a better job if their own money is on the line. The big banks are handling other people’s money. There is no accountability.

The investors just hear that the market is bad. They don’t know that that is only half the story. At HSBC, if the short sale department does a lousy job, then it affects HSBC’s quarterly statement.

If things go bad, then people are held accountable. In my opinion, there is nothing of the sort happening at American Banks such as Bank of America or JP Morgan Chase.

It’s kind of sad that a foreign company does a better job than an American Company. 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.

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