HSBC

HSBC is one of the few lenders who did not opt in for the Government loan mod program, but they do offer their own proprietary loan modifications to qualified borrowers.  The lender follows a similar underwriting and eligibility review process as other banks and HAMP, but the terms that they can offer borrowers are slightly different than under HAMP.  Here is some brief information on the programs and basic guidelines that may help you learn how to apply.

HSBC Loan Modification Programs

1. Repayment plans:  if you have fallen behind on your mortgage and cannot get caught up, you may be eligible for a repayment plan.  HSBC will make arrangements to divide the past due amount into monthly payments for up to 6 months.  This means that you have to make your normal payment PLUS this prorated additional amount.  This may be a solution if your financial hardship was just temporary and you have the means to make the higher payment for a short while.
2. Forbearance:  IF you have a temporary financial hardship, say due to job loss or medical issues but feel confident that within a few months you will be able to resume making the normal HSBC mortgage payment, the bank may allow you to miss up to 6 payments.  This missed payments are added to the back of your loan and are still due.
3. Loan Modification: the terms of your original note are modified to a more affordable monthly payment so that you can avoid foreclosure.  The interest rate may be lowered, the loan term may be lengthened, you may be offered an interest only payment or sometimes HSBC will reduce the principal balance.  Your home must be underwater-meaning you owe substantially more than it is currently worth-in order for them to consider this option.  Usually, the amount is deferred and not completely forgiven.  This means that when you sell or try to refinance, that amount is still a lien against your home.

WHO QUALIFIES FOR AN HSBC LOAN MODIFICATION

1. Homeowners who are facing a legitimate financial hardship, situations like loss of job or income, excessive high debt, lack of financial reserves, and increased expenses.  Loss of equity alone is not a valid acceptable reason for a loan mod.
2. Borrowers must be able to document their income with paycheck stubs, bank statements, award letters, etc.  They must complete a financial worksheet which details the household monthly income, monthly expenses and assets.  This information will then be used by HSBC to determine if the current mortgage can be modified to an affordable payment.
3. HSBC requires that the home be your primary residence, and rental or second homes are not usually allowed under the loan mod program.

HOW TO APPLY FOR AN HSBC LOAN MODIFICATION

1. You will be asked to complete an application which includes your monthly budget information, detailed on the financial worksheet.  Your household income,
   

   Budget Requirements Displayed

   expenses and assets will all be carefully reviewed and based on what you report on this form, you will either qualify for a loan workout or be denied.

2. You must be able to prove any income you report to HSBC, room mate income is allowed as well as rental income.  The bank uses a standard formula to determine if your income, expenses and assets fit into the approval guidelines.  IF you show too much or too little income then you will be denied.
3. You must write a brief explanation of why you need a loan mod, this is called a Financial Hardship Letter.  It is best to keep it to one page, and hit the major acceptable reasons, such as loss or reduction of income, increased expenses, lack of reserves or high monthly bills.
4. Complete the application form carefully and legibly, sign where needed and provide proof of income.  Make a copy package for yourself before you send it in.  Follow up one week later to confirm that HSBC has received it.  Follow up once a week and keep a written log of every contact you have during the review process.

Find out if your financial situation qualifies for a loan modification-use the #1 selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Calculator.  This program was designed specifically to help homeowners apply and qualify for a loan workout.  The Calculator automatically computes and displays

Calculator Incl-Download immediately!

your own specific income, expense and asset requirements.  Make sure your financial worksheet is completed accurately and shows acceptable budget figures.  Visit MyLoanModificationCenter.com today.

Apply Correctly

When you apply for a loan modification, HSBC will ask you to complete the borrower financial form-this is really a detailed breakdown of your household budget.  You must list your monthly income, your household expenses and your liquid assets.  Be careful, this is trickier than it first appears.  Remember that the numbers you write down on the HSBC financial form will be used by the bank to determine if you meet the rules for approval-you don’t want to make a mistake that will cause denial.

What does the bank need to see on your application form?  Keep in mind that HSBC uses a standard approval formula-and depending on your specific situation, including your current mortgage payment and loan balance, you need to show them the right amount of monthly income.  If you show too much or too little, then you will not fit into the program.  You can use a system designed specifically to help you figure out how much income you need-the loan modification calculator shows you instantly if your budget is passing or failing.  Then you can make the necessary adjustments before you submit it for review.

Your HSBC financial form will also show the bank your monthly household expenses-items like your utilities, groceries, car payments, medical, insurance must be

Exact Requirements

shown.  The bank will use this information to determine if you are really in a financial hardship and also if a loan modification will be a big enough help for you.  You can double check your own expenses will be acceptable by running them through the loan mod calculator system.  Be sure you verify that you passing all these important categories!

The HSBC financial form also asks for your assets-only show liquid assets like checking and savings, retirement accounts are protected.  Furniture, jewelry, etc do not have to be listed.  You must pass the Asset Ratio approval category, so double check this before you send your paperwork in.

Unfortunately, almost 75% of homeowners who apply for an HSBC loan modification are denied-and the most common reason is that their financial form was not prepared correctly!  This is something you can avoid by taking just a bit of time to make sure that your figures are acceptable and fit the guidelines.  The final decision is always with the bank, but if you know ahead of time you fit the program criteria, you have a much better shot at success.

You can get the real answers you need-use the #1 selling resource for homeowners to help you get it right.  The Complete Loan Modification Guide kit and loan Mod

Calculator will automatically and instantly compute and display your very own specific budget requirements-income, expenses and assets.  You can avoid mistakes and save time and frustration-visit MyLoanModificationCenter.com today and get started right.

If you need an HSBC loan modification, you need to understand exactly what the bank is looking to see from you and what you can do to convince them to help you with a lower mortgage payment.  HSBC does not participate in the government programs, however they do offer their own version of the loan mod plan, and if you submit your application correctly, you will have a good shot at approval.

The HSBC loan modification requirements for approval are all about your monthly budget-meaning the financial information you provide to them on your application will be used to determine if you pass the guidelines.  It is critical that you apply correctly so that you can prove to them in black and white that you are the perfect loan mod candidate.  Here are some tips to help you convince the bank to help you.

HSBC LOAN MODIFICATION APPLICATION TIPS

1. Do not disclose your monthly income or expenses until you have had the chance to really work on your budget and are confident that you are fitting into the approval guidelines
2. Make certain that you do not show too much income or too little monthly income-your must prove to HSBC that while the current mortgage payment is unaffordable, the new modified payment be affordable and maintainable.  You can determine the exact amount of income you need to qualify by using the loan modification calculator-a system designed specifically for homeowner use.
3. Now that you know how much monthly income you need to show
   

   Exact Requirements

   HSBC, confirm that your household expenses will be acceptable.  Your cash flow before and after the loan mod must pass the guidelines-this is where using the loan mod calculator can help you figure out just where to fine tune your figures before you submit.

4. Your assets-bank balances, stocks and CD’s-must be disclosed-double check that you are passing the asset ratio criteria when you run your figures through the loan modification calculator.
5. Now confirm that your get a PASS on all of the approval triggers and that your fine tune figures shown in the loan mod calculator prove you are a perfect candidate for help.

The only way to convince HSBC to help you is to prove on your application-in black and white figures-that you fit right into the program guidelines.  Remember this is not about how deserving you are, this is about passing the underwriting guidelines-and that is about the math.

Calculator Incl-Download immediately!

Get the help you need with the best selling homeowner resource system-The Complete Loan Modification Guide kit includes the powerful loan mod calculator.  This proven program will instantly and automatically compute and display your exact budget requirements for you to follow.  Visit MyLoanModificationCenter.com today.

Work on your budget now

How can you prove to HSBC that you qualify for a loan modification?  The most important part of the entire loan mod process is preparing and submitting your application correctly.  This most important part of the application is the financial statement where you detail your monthly income, expenses and bank balances.  This is the information that the bank uses to decide if you qualify for a loan workout or not – so it is critical that you do it right.

The fact is that an HSBC loan modification will only be offered to those homeowners who can prove that they fit into the standard approval formula.  This formula uses the gross monthly income, bank balances, expenses and other information provided on the loan mod application and detailed on page two of the form.  If you get this part wrong then chances are good you will be turned down for any kind of loan workout.

You can get help and avoid mistakes by using a sample monthly budget

Know the Guidelines

when you prepare your HSBC loan modification forms.  This can be your guide and you can use the information to fine tune your budget so that you know it is passing the standard approval triggers.  How do you know if your monthly income is too high or too low?  Are your monthly expenses out of line and need some adjusting?  The sample monthly budget will automatically display if your income is going to pass and also shows you where you may need to make any other minor adjustments to your own budget.

Millions of homeowners are struggling with their finances and adjusting their budgets each month in order to find a way to keep their home.  The secret is to adjust your own monthly budget so that it proves to HSBC that you are a good candidate for a loan modification.  This can be tricky if you do not understand how the formula works, and just guessing at how to prepare your figures will not get you the results you need.  The bank does not help borrowers figure it out, and so it is up to each homeowner to prepare their own paperwork.

Sample Budget-Automatically!

You can use an HSBC sample monthly budget to help you prepare your own loan modification application.  The Complete Loan

Download immediately!

Modification Guide kit and software program provides you with step by step directions, forms and a program that automatically figures your sample monthly budget for you.  This best selling kit has helped hundreds of homeowners – you can save time and avoid mistakes and increase your chances of approval.  Visit MyLoanModificationCenter.com for more information and get started today!

Did you know that even if you have applied for an HSBC loan modification and been turned down or are awaiting an answer, you can ask to be reconsidered for the new Obama federal loan modification?  Maybe you have been struggling, trying to find another solution, but are at your wits end-now is the best time to begin the loan modification process.  Why?  Because it is now easier than ever to apply and qualify for one of the loan workout options available with HSBC.  The lender is getting paid by the Treasury Department for every borrower they place in the federal loan modification plan-that is a big incentive to offer more help to struggling homeowners.  Before you contact the bank, make sure that you know how to have the best chance of success.  Read these 4 DIY Tips to help you get approved.

Do it Yourself Tip #1:  Spend a little time learning about the approval requirements before completing your application.  This is so important because until you know what is required, you won’t have a very good chance of completing your loan modification forms correctly.  Why take a shot in the dark when with just a couple of hours you can learn all the basics?  You don’t have to be a professional or expert-you can read the easy to understand, best selling handbook, The Complete Loan Modification Guide to find out what you need to know.

Learn how to determine your Target payment

Do It Yourself Loan Modification Tips #2:  Set your goal-you have to know what you are asking for-meaning that you figure out what your new target payment is and then work towards that goal.  The secret is to make sure that the new target payment meets your families budget and fits within HSBC’s approval guidelines.  This is not as hard as it sounds-it is just simple math that you can do yourself with the help of the step by step directions in The Complete Loan Modification Guide.

HSBC Do it Yourself Loan Modification Tip #3:  Obtain the required loan modification forms and complete them using the target payment and listing your income and debts correctly so that you clearly prove in black and white that you meet the approval guidelines.  When you order the best selling kit, The Complete Loan Modification Guide, you are provided with all of the required forms as well as given easy to follow directions for completing those forms correctly.  HSBC will base their decision in large part on the paperwork you provide-so spend just a little bit of time learning and preparing-it can make the difference between approval or denial.

DIY Loan Modification Tip #4:  HSBC is flooded with applications from homeowners for assistance-incomplete or inaccurate files are simply set aside-and that means no quick response.  A complete loan modification application that includes everything the bank needs to see the first time will get a quick review and you will get the help you need much sooner.  You can follow the handy Submission Checklist and stacking order included in The Complete Loan Modification Guide kit to make sure that your application is complete, accurate and acceptable.

You can be successful with an HSBC do it yourself loan modification-you do not have to pay thousands of dollars-keep your hard earned cash and instead invest your own time and effort into saving your home.  Don’t believe all those companies who say they can do a better job-it’s simply not true. That’s a scare tactic to get you to part with your much need money.

If you are ready to get serious about saving your families home-there is no better time to get started-the new programs do not require any negotiating-either you prove with your paperwork that you qualify or you don’t-simple!  So make sure that you have done everything you can do get your family back on the path to secure home ownership.

Get the help you need to prepare your Do It Yourself HSBC loan modification application by ordering and downloading The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly. The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own loan mod expert to make sure your application is completed correctly.

Home Edition Loan Modification Kit with Customer Assist

Get started today on the

path to secure home ownership, order and download The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.co