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  • Requesting a HSBC Loan Modification  -Steps Which Must Be Followed

    HSBC Loan Modification

    HSBC Loan Modification

    Are you struggling to make your HSBC mortgage each month? If so, programs are available to help. Anyone who has suffered a hardship of temporary duration that can be resolved is eligible and the same is true of those who need assistance getting back on track to start fresh. Four programs are offered. Once a program has been selected, the application process begins and certain steps must be followed. Here is how to request HSBC hardship assistance.

    Determine which hsbc loan modification program bests meets your personal situation.

    Loan modification or temporary payment modification-The hsbc loan modification is a formal written agreement between the borrower and lender which reduces the monthly payments for an established period of time. If the situation persists when this time period is up, additional options may be offered. This hsbc mortgage modification allows the borrower to make a reduced payment for the modification period without the need to pay additional fees or refinance the home.
    Reinstatement-This process prevents the property from going into foreclosure by bringing the account up to date, including all fees and cost.
    Repayment plan-As with the loan modification or temporary payment modification, this plan involves a formal, written agreement. Here your regular mortgage payment will be made each month along with a portion of the past due unpaid balance. This plan is for a pre-determined time period and brings the account current over time to avoid or stop foreclosure.
    Restructure-This program allows you to avoid foreclosure by deferring payments to bring the account current. This agreement between the borrower and lender allows you to get caught up on payments that got behind without having to come up with the funds up front.

    What state are you in? Please select an item.

    Behind on your mortgage payments?: Please select an item.

    Estimated mortgage balance owed? Please select an item.

    Who is your lender? A value is required.

    First Name: A value is required.

    Last Name: A value is required.

    Primary Phone Number: A value is required.

    Secondary Phone Number:

    Your Email Address: A value is required.

     

    Once you have selected a program you must contact an HSBC Mortgage Servicing Professional to discuss the options and whether or not the selected program is right for you. These professionals may be reached at 1-800-395-3489.

    Documentation must be gathered so the lender can assess the request and this documentation must be provided within 15 days from the date of the payment assistance request. If the documentation is not received in this time period, the request will be denied. Types of documentation needed will include:

    Two subsequential pay stubs which must be dates within 60 calendar days of the modification request.
    For those who are self-employed, three months of the most recent bank statements must be provided. These statements must show all transactions details. If these aren’t available, the prior year’s tax return must be provided along with the Schedule C or K.
    Those who have no income must complete a written statement attesting to this.

    Florida State Mortgage Help-So You Can Stay in Your Home
    Florida State Mortgage Help is available for those in danger of losing their home. A number of Florida mortgage aid programs are offered along with emergency housing assistance and public housing. Bankruptcy and credit counseling are offered for those in this situation along with other resources. No matter what type of help you need when it comes to your home, look no further than Florida Prevention Resources to help you get your life back on track.

    Read more about the programs

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    Are You Eligible For The Homesafe Georgia Program?

    Getting Help With Your Georgia Mortgage
    Like much of the rest of the country, Georgia is facing high unemployment rates and increasing foreclosures on homes. To counter this, the Homesafe Georgia program has begun, offering a home-equity type loan to homeowners, providing temporary help for the homeowner who is was unemployed or underemployed due to layoff.

    There are two types of assistance available: Payment and Reinstatement. Payment assistance occurs when you are still out of work or underemployed. This plan will make your payments for up to 18 months, along with your contribution to the plan, too. Reinstatement is for those who have once again found work, but still owe substantial unpaid mortgage payments, up to six months. With reinstatement assistance, one lump sum is paid to your lender, catching you up so that you can continue with your mortgage payments on your own.

    Who Can Qualify For This Program? (more…)

    Citimortgage Offers Mortgage Relief to Homeowners

    Citimortgage, a division of Citibank, is reaching out to homeowners who are having trouble making mortgage payments.  Some homeowners have fallen behind, others cannot continue to make payments and some are facing foreclosure and the loss of their homes.  Citibank has multiple programs to suit any mortgage relief need.
    For those whose homes are in the foreclosure process, Citibank offers Deed in Lieu as well as short sale programs.

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    Costco Mortgages available in an Aisle Near You

    Yep.  You can now shop at Costco for just about anything.  True story:  a man ran into Costco for his weekly supply of nutri-grain bars and potato chips in bulk packs, and saw a brochure for Costco’s new Mortgage Lending offering.  He went home, researched it, filled out an application online, and received a few replies from the data base of lenders involved.  He ended up refinancing his 170,000 15-year fixed loan into a 30-year fixed at a lower interest rate, saving him a whopping $500.00 a month on the payment.  All from his need for potato chips!

     

    After a year of testing, Costco now offers mortgage and refinancing financial services, as the marketer, for New Jersey based First Choice Bank.  Costco does not make a profit from the borrower either from an origination fee or percentage of loan amount of the lender;  they only make money by offering and marketing the product, however they maintain the rights to oversee the process and have some strict guidelines that participating lenders must adhere to.

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    Georgia State Government Programs that offer Mortgage Assistance

    There are many agencies and programs in the state of Georgia that want to help their citizens fight foreclosures on their homes, retain their homes and also to help purchase homes.  Georgia not only has these agencies that provide counseling, workshops and guidance, but they also have grants that support the state economy and increase access to better jobs and education by offering financial assistance that has loan forgiveness.

    Georgia’s Department of Community Affairs helps prevent foreclosures, offers bridge loans in the form of mortgage assistance and other aid to those who have lost work because of circumstances not their fault, through a program called “Homesafe Georgia,” that is funded by the United States Government’s “Hardest Hit Fund (HHF).”

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    Texas Mortgage Help Programs

    Today, there is more need for families to refinance their mortgages for financial reasons, and it is harder for younger buyers to secure enough cash for the down-payment of their first home than a couple decades ago.  There are some federal programs that can assist first-time buyers such as The American Dream Act, Home Owners Emergency Loan Program, FREE HUD (department of Housing and Urban Development) Counseling and websites like FindHelp.org.

    Many states have also implemented their own programs to help people buy affordable homes in their communities, and refinance to lower interest rates, which also strengthens their economies and improves the quality of life.  In the third quarter of 2012, the percentage of Americans that did not own their own home decreased 7% nationwide from just a month ago, and 16% from one year ago.  These sizable decreases are attributed mostly to five states: California, Georgia, Texas, Arizona and Michigan.

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    California Mortgage Help 2012

     

    Quite honestly, the economy is still in the recovery mode. Because of this – there are people who continue to have problems making their respective payments on their mortgages each and every month. This is especially true in the state of California. Well, the good news is – there is help. California mortgage help is available for those finding it difficult to make their mortgage payments. The key will be to know exactly where to look, and what to look for in terms of your specific financial difficulty.

     

    In the paragraphs that follow, you are going to learn some detailed information that pertains to help with your mortgage. After reading through the information provided below, you’re going to have a better understanding of the steps you need to take to get back on track, as well as the programs available that will help you do so.

     

    The Different Forms of Financial Hardship and the Programs available to Help you Deal with Them.

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    Wells Fargo Mortgage Help

    It’s no secret that the economy has hit many people hard.  Families who used to be able to pay their bills on time are falling behind on mortgage payments; some are even facing the loss of their homes through foreclosure.  There is hope, however, for those who have their mortgages through Wells Fargo.  Wells Fargo offers several programs to help those who have fallen behind on their mortgage.

    Wells Fargo, founded in 1852 in San Francisco, is estimated to have insurance, mortgage, and investment dealings in one out of every three households.  Wells Fargo’s commitment to help its customers succeed financially has allowed the company to offer the following mortgage relief programs.

    1. Debt consolidation: Debt consolidation allows a homeowner to combine many higher interest credit card payments and loans into one lower payment.  While not eliminating your debt, it makes payments more manageable.  A debt consolidation loan will free up more money to bring a mortgage current and maintain timely payments on it.  Wells Fargo will study a homeowner’s payment history, credit history and ability to pay before extending this form of mortgage help to homeowners.

    2. Refinancing:  Refinancing a mortgage can allow a homeowner to lower monthly payments, get longer term loans, and change mortgage types.  Wells Fargo cautions that there may be origination charges, including processing and application fees, as well as discount point that can be used to further lower interest rates.

    3.   Repayment plan: It may be possible through Wells Fargo to redistribute back payments and repay them in future loan payments.

    4.  Attorney General’s Settlement:  Wells Fargo entered an agreement with the Attorney General’s office that permits them to help homeowners with their mortgage woes.  It allows the expansion of first or second loan modifications.  For homeowners with no equity in their home can qualify for an n extended first lien program.  The extended first lien program will not lower the principal, but it can help to lower interest rates for struggling homeowners.

    In order to qualify for the Attorney General’s settlement, homeowners must:

    In addition, the Attorney General’s agreement will allow a modified short sale of the home if necessary, with debt forgiveness to qualified homeowners.

    5.  Independent Foreclosure Review: IF the homeowner was involved in a foreclosure during 2009-2010, Wells Fargo promotes the Independent Foreclosure Review that will help to determine if the foreclosure was a legally valid one.

    Wells Fargo at https://www.wellsfargo.com/ offers many types of relief to a struggling homeowner.  They have a team of experts ready to answer any and all questions regarding any of the above options and can guide a homeowner in the direction of the relief program most appropriate to their circumstances.

    DSHA Mortgage help

    The premier state organization providing mortgage assistance in Delaware is the Delaware State Housing Authority. The Organization was established in 1968 and was later incorporated into the Community Affairs Department in 1970, and the Delaware Economic Development Office in 1987. Finally, it was incorporated in 1998.

    In 1968 the DSHA started with a working budget of $100,000. Those initial assets have since grown to $500 million, mainly thanks to the issuing of tax-exempt revenue bonds.

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