When you contact HSBC about a Loan Modification, you will be referred to the Default Resolution Team.  One of their counselors will initiate a review of the loan workout options.  Some of the retention options available to distressed homeowners seeking an HSBC Loan Modification include:

• Special Forbearance/Forbearance Agreement:  payments are reduced or suspended for a pre-determined length of time
• Repayment Plan:  A portion of the arrears are paid each month in addition to the regular payment
• Stipulation Agreement:  A payment plan to bring the account current after foreclosure action has begun-designed to bring the account current
• Loan Modification:  An agreement to adjust the term and or reduce the interest rate to a more affordable payment

The Loan Modification option is the most effective, long term solution for most homeowners to avoid foreclosure and stay in their home.  HSBC requires the homeowner to submit a Loan Modification application package for review.  You will have to provide HSBC with certain information so they can decide to approve your loan modification  or deny it.  Here is what they will need:

• Hardship Letter
• Copies of income documentation
• Completed financial form
• Borrowers information form
• Copies of Bank statements
• Copy of listing agreement if home is for sale

BEWARE!  Before you contact HSBC, you need to understand how the Loan Modification process works, what HSBC needs to see in order to approve your loan modification application, and how to complete the financial forms properly.  You must be able to present a compelling and acceptable snapshot of your current financial situation, and explain how you will be able to afford the new, lower payments if the HSBC Loan Modification is accepted.  You have one shot to get it right and save the family home, make sure you are educated and informed before calling the bank.

The Complete Loan Modification Guide will give you the information you need to present a winning Loan Modification application to HSBC.  You will learn the 7 Steps to a Successful Loan Modification, as well as insider tips on how to negotiate with the bank.  The Complete Loan Modification Guide also provides all the necessary forms, with detailed instructions on how to complete them properly.  This easy to read and easy to follow Guide will give you a fighting chance to fix your loan and save your home.

HSBC Contact information:

888-648-3124

www.us.hsbc.com

If you would like more information about HSBC Loan Modification, please visit us at:

http://www.myloanmodificationcenter.com

A Loan Modification Company is a third party who is paid to represent your interests with your lender. Borrowers who are seriously delinquent or facing foreclosure are desperate for help to save the family home.  The Loan Modification Company will ask for a large upfront fee to contact your lender on your behalf to try to modify your existing loan into a more affordable payment.  Unfortunately, since your lender decides whether to accept or deny your application for loan modification, you will not get any guarantee of a successful result from the Loan Modification Company.

Loan Modification is a relatively new aspect to the home mortgage industry.  The truth is that none of these companies have alot of experience with negotiating loan modifications.  To make it even harder, lenders are constanting revising their guidelines and procedures.  The most successful Loan Modification Company will work with an affiliated attorney.  Their legal expertise can assist in putting pressure to bear on your lender when evidence of RESPA or Truth In Lending (TILA) violations may have occured.

However, most Loan Modification Company fees range from a minimum of $1500 all the way up to $10,000.  That is not a typo, I have actually had someone with a million dollar mortgage be quoted that price!  Isn’t that another financial burden the already struggling homeowner can not afford?  Saving the family home is worth the time, effort and money if you have at least a fighting chance of success.

The first thing a distressed homeowner needs to do is to get informed about their loan workout options-including loan modification, also forbearance, deed in lieu, and short sale options.  There is alot of good information online on these subjects for homeowners.  I have spent alot of time and effort utilizing over 25 years of finance experience to put together The Complete Loan Modification Guide.  I believe this is the most informative and comprehensive resource for homeowners available today to help guide them thru the many retention solutions available now.  This is a low cost way to get educated and informed before you make a decision costing thousands of dollars and affecting your family and your home.

So, whether you decide to pay a Loan Modification Company, or deal with your lender directly, do your homework, get informed, and know how the process works, learn what to expect along the way, and how to get the very best modification you can qualify for.  It’s really not rocket science, you can learn the insider tips and negotiating secrets.  The Complete Loan Modification Guide will teach you the 7 Steps to a Successful Loan Modification.  It is an easy to follow and easy to understand guide that every troubled homeowner needs to read before contacting their lender.

If you would like more information about loan modifications, please visit us at:

http://www.myloanmodificationcenter.com