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Elizabeth,  in 37076

I'm working on a short sale that has a 2nd mortgage held by Household Finance. The first has already agreed

Asked by Elizabeth, 37076 Wed Oct 31, 2007

to a discount but I need a discount from Household as well in order to make the deal work. Household keeps sending me to the short sale department which tells me that we must send in the delinquent arrears before they will consider a short sale. That sounds rediculous since the homeowner would have sent it in if they had it. I believe that the problem is that I am not talking to the right person or department. I believe that I should be talking to a department that can approve a discount settlement but I'm not sure. Has anyone reading this ever completed a short sale with Household finance? If so, may I have some advise as to how I should approach them about this?
Thank you.

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Answers

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They have nothing to lose, they are not going to get much if any. So they are trying to get as much as they can.

Remember to extra nice to the person on the phone. They are not use to it and you will get a lot further. It is negotiation. There tatic is to tell you that and if you get them current then they call it a win.

So the question is, how much would it take to get the second current? It might be worth doing, or offer them half of that.
0 votes Thank Flag Link Wed Oct 31, 2007
Elizabeth,
Have you tried talking to the department head? I have never completed a short sale with Household Finance, I believe that you may be talking to the wrong people as well. Keep asking for their superior. See if that gets you anywhere.
0 votes Thank Flag Link Wed Oct 31, 2007
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