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        <title>Minna Reid's Blog</title>
        <link>http://www.homesbyminna.com/blog/hsbc/</link>
        <description>The Blog of Minna Reid, CT Realtor, short sale specialist. All about real estate and short sales in Connecticut from Minna Reid - CT's #1 Short Sale Realtor.</description>
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            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>A Connecticut HSBC Short Sale Success</title>
            <description> <![CDATA[ 
When this Bloomfield CT homeowner first called me, she sounded rather hopeless. After a fruitless 6 month listing with another agent (who blatantly lacked short sale expertise), her home had just expired unsold. To add insult to injury, this agent then told her to give up, go do a deed-in-lieu and even bought all her home furnishings at a discount.


Thankfully my seller did not follow this misguided advice.


After some online research led her to me, we corrected the price on the home and re-listed it for sale. It took just over 2 months to secure a buyer for this unique home. HSBC was fairly quick to respond...although they were not on board with our purchase price. A slight change to our purchase price and a few weeks of convincing later - HSBC sent over an approval letter. A month later this HSBC short sale closed and my overjoyed seller was finally able to move on with her life.


OWED: HSBC Mortgage $360,000


APPROVED AND CLOSED: $225,000


TOTAL TIMEFRAME LIST TO CLOSE: 5 MONTHS
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            <pubDate>Mon, 01 Oct 2012 11:50:19 -0500</pubDate>
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            <link>http://www.homesbyminna.com/blog/another-ct-short-sale-success-with-bank-of-america-and-hsbc.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>Another CT short sale success with Bank of America and HSBC</title>
            <description> <![CDATA[ 
Another CT short sale success with Bank of America and HSBC


This short sale could have been easy and straightforward, but unfortunately Bank of America doesn't know the meaning of those words yet.


After being denied for a loan modification my sellers faced an unusual turn of events with their property. What was once their pretty wooded backyard came down over the course of a few weeks, and in its place was built an oil delivery company -a  retail store, oil storage, and huge dirt lot for the delivery trucks.  A barbed wire fence and dumpsters just a few feet from my clients backyard deck completed the transformation. Needless to say, the already upside down property took a huge additional value hit. My clients had no choice but to short sell or foreclose. They decided to short sell.


A proper price tag on the property delivered a cash buyer in two short weeks. The second mortgage with HSBC was quickly approved as well and then Bank of America started in with their silly games.


Ther appraisal was a tad too high ($10k) and had to be disputed. Despite a value correction, Bank of America continued to go round and round for weeks with silly counters and different promissory note requests. At last a compromise was reached and we were awaiting final investor approval.


Instead of approval, the investor backtracked to round one of ridiculous counters. When told NO, the negotiator said he would simply close the file and force us to go back on market to seek a "better" buyer. Better apparently than a cash buyer at market value, and with the sellers agreeeing to a small note.


Fed up - I told the negotiator to shove it...(maybe in some better chosen words). I received no response.


The next day I was surprised by an approval letter in my inbox and a few weeks later this short sale closed.
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            <pubDate>Mon, 28 Nov 2011 14:14:34 -0600</pubDate>
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