Why Be Responsible When You Can Get A Bailout?

Orlando Short SaleWhy 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 tom.mack@exprealty.com. 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 407-359-2220

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

Thinking about a loan modification? Our Orlando 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, Tom Mack.

Tom is a Real Estate Agent at eXp Realty. Orlando Short Sales Realtor:

Phone: 407-359-2220. tom.mack@exprealty.com.

View My homes for sale at Orlando Short Sale Homes.

Tom Mack specializes in loan modification assistance and short sales in Orlando Florida. Orlando Loan Modification Help, Orlando Short Sales. Orlando Short Sale Realtor. Altamonte Springs FL Short Sale Realtor. Casselberry FL Short Sale Realtor. Lake Mary FL Short Sale Realtor. Longwood FL Short Sale Realtor. Oviedo FL Short Sale Realtor. Sanford FL Short Sale Realtor. Winter Park FL Short Sale Realtor. Winter Springs FL Short Sale Realtor. Apopka FL Short Sale Realtor. Eatonville FL Short Sale Realtor. Maitland FL Short Sale Realtor. Ocoee FL Short Sale Realtor. Orlando FL Short Sale Realtor. Windermere FL Short Sale Realtor. Winter Garden FL Short Sale Realtor. Kissimmee FL Short Sale Realtor. Orlando FL Short Sales. Orlando Realtor.

Important Notice

Tom Mack, eXp Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Tom’s personal views and do not reflect the views of eXp Realty.

This information on Why Be Responsible When You Can Get A Bailout? is provided as a courtesy to our viewers to help them make informed decisions. Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.