Anyone deal with Household on a shortsale before?
Anyone deal with Household on a shortsale before?
Has anyone ever had luck doing a short sale with Household fin. However the house dose not need work done. it's a good shape. Balance is 175,000 worth 230,000 . Rate 14%. 5 payments behind. has anyone ever deal with household before and if so how did it turn out?. I have a feeling they won't do a shortsale on it.. just wanted some feed back...
thanks
Mark
I've closed a few with HFC, but there was no equity and they took forever. Based upon the numbers in your scenario, I wouldn't expect any discount at all. That doesn't mean that you shouyldn't try. It'll be good experience, and a way to make contacts in HFC. Who knows, maybe they'll throw you a bone and turn you on to an incoming REO.
Thanks for your info. and your so right about making some good contacts in inside. I done the same thing with Homecoming and they do send a bone over now and then.... i am closing on this one next Monday that they sent over,, did not put a dime in. and going to net 22,000. they came down 15,000 from there own BPOP
Mark
Why don't you just pay the loan off? That's a nice profit, you won't have to wait for them to decline your offer and leave you in the same situation that you are in now. A bird in hand...etc.
hope this helps,
clear2close
[addsig]