Beneficial Bank frequently asked SHORT SALE & FORECLOSURE questions
What are some Beneficial Bank foreclosure alternatives?
I am upside down on my mortgage with Beneficial Bank, what should I do?
What is a Beneficial Bank short sale?
Beneficial Bank denied my loan modification, what's next?
What is the Beneficial Bank short sale process?
How do I choose a Beneficial Bank short sale company?
How do I qualify for a short sale with Beneficial Bank?
Where do I find a Beneficial Bank short sale expert?
How do I hire a Beneficial Bank short sale REALTOR?
How to find short sale agents who work with Beneficial Bank?
What are the documents required for a Beneficial Bank short sale?
How do I write a Beneficial Bank hardship letter?
What are some Beneficial Bank FORECLOSURE ALTERNATIVES?
If you are wanting to avoid foreclosure with Beneficial Bank , consider a short sale. Beneficial Bank has alternatives to a foreclosure. With record high defaults (foreclosures), a great solution is a Beneficial Bank approved short sales. There are a large number of people behind on their mortgage payments and upside down on their home that want to avoid foreclosure. Banks are allowing you to sell your home for less than what is owed. If you want to stop your home from going into foreclosure , a short sale may be the right solution for you. We provide this service at absoletely no cost to you and have great working relationships with Beneficial Bank to help you in your time of need.
I AM upside down on MY mortgage with Beneficial Bank, WHAT SHOULD I DO?
If you upside down on your Beneficial Bank mortgage, there are options to avoid foreclosure . There are many options to either avoid a foreclosure or make your mortgage payment even more affordable. To avoid having a Beneficial Bank foreclosure, one of the best options you might have would be performing what is called a short sale.
What is a Beneficial Bank Short Sale?
Banks such as Beneficial Bank are not wanting to absorb the cost of a foreclosure . Foreclosures are very expensive and time consuming. Banks will typically work with home owners in hardship and allow you to perform a short sale. Our company specializes in helping homeowners working out a short sale solution with Beneficial Bank.
Beneficial Bank Denied MY Loan Modification, whats next?
Knowing exactly what a short sale is will help you have a better understanding. We work with Beneficial Bank to negotiate a short sale for you. Our team of Short Sale Experts have a great realationship with Beneficial Bank and show that your home is worth much less than owed, and to avoid the hassels and expenses of foreclosing, we can negotiate a short sale.
What is the Beneficial Bank short sale process?
- The lender acknowledges receipt of the file. (This can take 10 to 30 days.)
- A negotiator is assigned. (This can take 30 to 60 days.)
- A Brokers Price Option (BPO) is ordered. (This can take 10 to 15 days.)
- A second negotiator could be assigned. (This can take another 30 days.)
- The file is sent for review or to the PSA. (This can take 15 to 30 days.)
- The bank might request that all parties sign an Arm's-Length Affidavit.(Typically nortorized)
- The bank issues a short sale approval letter.
- Close the sale of your short sale
HOW TO CHOOSE A Beneficial Bank Short Sale Company
When your loan modification is denied by Beneficial Bank, you are an ideal canidate for getting the lender to approve you for a short sale. Lenders attempt to work with home owners to save their homes, but when you are denied a loan modification by Beneficial Bank, they will allow you to short sale 99% of the time. Call us, we will give you other options.
How to Qualify for a Short Sale with Beneficial Bank
There are many reasons a Beneficial Bank will allow you to sell your home for less than owed. Any of these situations may qualify you for a short sale. (Note: these are most of them)
- Job loss or unemployment
- Relocation or involuntary job transfer
- Loss of income
- Decrease in working hours
- Medical expenses
- Major repairs on existing home
- Increased living expenses
- Death of borrower
- Short term or permanent disability
- Death of spouse or family member
- Business failure
- Vacant investment properties
where do i FIND A Beneficial Bank short sale expert
Beneficial Bank foreclosure vs short sale . It could be the right solution for you. The lender short sale process can be a long and tedious task and negotiations could take months to complete. We strive to shorten this transaction timeline as a company by utilizing our relationships with Beneficial Bank.
HOW TO HIRE a Beneficial Bank short sale realtor?
Have a Professional Beneficial Bank Short Sale Realtor working for you. Our Short Sale Realtors are the top short sale Realtors to facilitate a effortless and smooth short sale. We are the Beneficial Bank Short Sale Experts . We have proven track record and can negotiate a short sale from beginning to end.
HOW TO FIND Short Sale agents WHO WORK WITH Beneficial Bank ?
We don't just want you to work with any Real Estate Agent, we want you to work with a Short Sale Realtor that is a short sale specialist . What is the difference between a short sale agent and a short sale Realtor who specialize in working with Beneficial Bank? They both have to be licensed by the Department of Real Estate and follow the real estate laws. They both specialize in facilitating with short sale transactions and negotiations. The main difference is that a real estate agent is a REALTOR when he or she is a member of the National Association of Realtors. A Beneficial Bank specialized Realtor has to abide by a stricter Code of Ethics and Standards of Practice.
Hire a local [State] Beneficial Bank short sale expert to sell your home. Not all short sales are successful because every lender and situation is different. A short sale expert can examine your circumstances and be very knowledgeable of your options.
WHAT ARE THE documentS requireD for a Beneficial Bank short sale ?
When qualifing for a Beneficial Bank short sale, most banks will require the following documentation to approve your short sale in .
- Recent Mortgage Statement
- 2 most recent months of paycheck stubs (if employed)
- 2 most recent months bank statements
- 2 most recent years W2's
- 2 most recent years Tax Returns
- Property Tax Bill (If it is not included in the mortgage)
- Property Insurance Bill/ Statement (if it is not included in the mortgage)
- Homeowners Assoc. Bill (If you have a Homeowners Association)
- Sellers hardship letter
- Complete financial statement
- Letter of authorization (which lets your short sale agent speak to the bank)
- HUD-1 or Preliminary Net Sheet
- Comparative Market Analysis or list of recent comparable sales
How do i write a Beneficial Bank hardship letter?
The Beneficial Bank hardship letter only needs to be about a page long typed out explaining your situation and how your circumstances have changed. The lenders want to know why you are not able to make your mortgage payments. Contat us today for a break down on how to write a proper Beneficial Bank hardship letter.
some history about Beneficial Bank
HSBC Finance Corporation is a financial services company and a member of the British HSBC Group. Operating under the HFC and Beneficial names, HSBC Finance Corporation is the second largest consumer finance company in the United States, with more than 900 branches in 46 states. It is the sixth-largest issuer of MasterCard and Visa credit cards in the United States. HSBC Finance Corporation was formed from the legal entity that had been known as Household International, and Household Finance Corp. was founded in 1878 by Frank J. Mackey of Minneapolis, Minnesota. In 2003, HSBC acquired Household International, which was merged in 2005 with a subsidiary company that became the HSBC Finance Corp. It primarily services middle-market consumers real estate secured loans, auto finance loans, MasterCard and Visa credit card loans, private label credit cards, personal non-credit card loans and specialty insurance products.