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HSBC Thank You! Fast Approval of a Short Sale!

By
Real Estate Agent with Casta del Sol Real Estate / HomeSmart Everygreen Realty 01439520

I want to say thank you to HSBO for a fast approval. You hear so many bad remarks about the banks but they have been great.

I sent in an offer with the packet for a short sale on a Sunday afternoon, got a call Monday night 7:45 and had the BPO done Wednesday morning. The next Monday, they called to tell me  the file had gone to approval department and I would know in 2 weeks. I called the the Friday before they said to and they had it done. A total of 3 weeks and we are good to go.

Here is some other information that I didn't know about, Bank of America is working with Equator.com to get their approval of short sales done faster. The home owner has to ask to be put in the program and then most of it is done on line. You can see what papers have been sent in and what they need to be done. I am just getting started with it, but what I have seen, has impressed me.

 

Posted by

Valorie Stover , Specializing in YOU!

MaryBeth Mills Muldowney
TradeWinds Realty Group LLC - Braintree, MA
Massachusetts Broker Owner

thank you for the information on Equator.com I will check it out.

Feb 04, 2010 10:35 AM
Carol Skon
HomeSmart Island Homes - Princeville, HI
RB, Kauai, Hawaii Real Estate

Valorie,

I just got three short sale listings this week and two are with Bank of America.  I hope thisngs go smoothly for my homeowners (and me).  Equator.com should help!

 

 

Feb 04, 2010 10:39 AM
Christina ONeal
At Home Real Estate Group - Ripon, CA
Realtor - Ripon California

Thank you Valerie for sharing a good story!!!  I have a current homeowner that was extremely stressed & she has only one loan with HSBC & she was so hesitant to come to me because of all the horror stories on the internet.  Thank you for your beautiful story.  Gives us hope.  Can I have permission to reblog your post?  My client would so appreciate it.

Feb 05, 2010 07:29 PM
Valorie Stover, Realtor for Casta del Sol
Casta del Sol Real Estate / HomeSmart Everygreen Realty - Mission Viejo, CA
Mission Viejo,CA, Active Adult Community!

Marybeth, I was told about it from an agent wanting to put an offer on one of my short sale listings. We have to pass the word.

Carol, As I said I just started with it but we all know B of A can use all the help they can get. I know agents that won't even show the property if it is with B of A. I plan to add a comment in the agent remarks, that we will be using the Equator program.

Christina, Please go ahead and reblog the information. I want all of us to push this market and anything we can do to speed things along will help.

Feb 06, 2010 02:07 AM
Lynne Gibbons
Silver Key Real Estate - Portland, OR

Hi Valerie

Do you have contact phone numbers for HSBC?

Thanks in advance

Lynne Gibbons

May 12, 2010 01:33 PM
Valorie Stover, Realtor for Casta del Sol
Casta del Sol Real Estate / HomeSmart Everygreen Realty - Mission Viejo, CA
Mission Viejo,CA, Active Adult Community!

Hi Lynne,

Here is the number I used 1-800-365-6730. Hope it helps! They were easy to work with.

May 12, 2010 03:25 PM