This week’s Preforeclosure Daily Grind is filled with new changes and updates from various lenders. One of the hottest and most recent changes is from HFC Beneficial and what they are now writing on their short sale acceptance letters: Are they reserving their right to go after our clients for a deficit judgment, are they asking sellers for a long term unsecured promissory note or are they waiving any right to go after the homeowners for the difference? Listen in as we cover this latest Daily Grind Tip of the Week! Also covered on this week’s Daily Grind is the importance of documenting and creating a running profile for each lender you work with and how to go about doing it, the latest and greatest, super charged new version of our ManageMyShortSale.com real estate management tool and much more.

8 Responses to “HFC Beneficial’s Short Sale Guidelines Exposed!”

1. Ross Kilburn says:

   March 17, 2010 at 8:04 am

   I appreciate all the information that you guys share.

   I just posted an HFC letter we received yesterday (1st lien position) if you would like to check it out. I have uploaded the last 18 approval letters that we received in the last 4 weeks.

   http://seattleshortsales.com/approvals.htm

   Best,

   Ross Kilburn
   Seattle Short Sales, Inc.

   Reply
   • Bob Lachance says:

     March 17, 2010 at 9:34 am

     Ross,

     Great job! This is a big help for a lot of people.

     Thanks,
     Bob

     Reply
2. Natalie says:

   March 17, 2010 at 10:09 am

   Good info Thanks for sharing

   Reply
3. Jonathan says:

   March 17, 2010 at 7:03 pm

   Hey Bob I just finished going through your short sale flagship system. Great stuff! I was wondering if i could get your updated lender profiles so i can set expectations with my clients. Thanks.

   Jonathan

   Reply
4. Donna says:

   March 22, 2010 at 5:47 pm

   Hi Guys, Great info! I am with Jonathan, it would be awesome to get your updated profiles also. Thanks!

   Reply
5. Bruce says:

   May 19, 2010 at 7:58 am

   Hi Guys, Great info! I am with Jonathan, it would be awesome to get your updated profiles also. Thanks!

   Reply
6. Adam Sutton says:

   October 1, 2010 at 1:51 pm

   I am writing to explain that HSBC bank and affiliate HFC Beneficial. I beg that anyone who wants to do business with this company stay away nothing good will come of it. I have done everything by the book with this company. i have in my hand the release of a deed from the Vice President and yet still they will not release this off my credit. I have been on the phone with every department and all they do is connect you to someone else. Anyone part of this company i urge you to stay away. anyone looking to any part of this company stay away. There is no customer service only employees that will forward you to an answering machine.

   Reply
7. Margie N says:

   February 7, 2011 at 7:05 am

   Hello Gentlemen,

   I am intersted in a home I found that was foreclosed on through HFC. I have spoken to the original owner. He is getting letters a year and a half later asking if he wants to still pay his back amounts. He is not interested in the home anymore. I am very interested in purchasing this house from HFC. WJhat is the best way to approach this? Can I call them directly or how do I do a short sale if the home has already been foreclosed. It has been sitting vacant for a long while. How do I find a negotiator? Thank you so much for your time!

   Margie N., Houston TX

   Reply