HSBC & Short Sale

[Anonymous]

I'm short selling my home and I sign documents tonight.  In the escrow documents, HSBC has put the following:

"That upon settlement, the specific balance will be charged off and not required to be repaid by the customer and a $0 will appear on the customer's credit bureau as "account legally paid in full for less than the full balance."

Does anyone see anything wrong with this statement?

Thanks.

[Anonymous]

Sounds like a classic settlement statement anytime you settle a debt for less than the amount owed unless you prenegotiateto have it reported PIF which is doubtful with HSBC.