now the first and 2nd is with HSBC now can I try to short both of these or I can only short the 2nd because if theyre with the same bank I dont understand why they would be willing to short the 2nd because theyre the ones in the strong position or am I wrong and I can try to short both the mortgages or should I go after the 2nd only please let me know fast
thank you
Saad
No offense but you might try using punctuation occasionally. Your posts are nearly unreadable.
dont worry. Even though the lender appears to be the same, the investor is most likely different. Place an offer just as you normally would.
the owner of the house called me he said HSBC asked him for $2000 more or they said they will go into foreclosure. I adviced him not to pay did I do the right thing because he has no money at all to afford that and once I start negotiating will that stop the foreclosure for a few days?
Never advise the homeowner on what todo. You can only give them options. THey must come to the conclusion that the short you are going to do is the only solution. The only thing i let the HO know is that the worse things look, the bank will be more motivated to do the short because if it looks like the house next door, the bank will be less motivated to work with me. So I let them decide how they want to proceed.
steve