HSBC Home Loan Modification Help: Yes, You Can Get a Permanent Modification and Even a Principal Reduction — Here’s How
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HSBC Home Loan Modification: A Success Story
HSBC Bank is one of the toughest around when it comes to getting permanent home loan modifications. We discussed this in the post, Stopping Foreclosure: Another Big Bank (HSBC) Suspends Foreclosures Because of Investigation into Robosigning. And, if you’re seeking something like a principal reduction on your home loan wih HSBC, you can practically forget it. At least, that’s the “word on the net,” so to speak.
But, that appears to be changing. With prevent foreclosure organizations like NACA (Neighborhood Assistance Corporation of America), it appears that HSBC, a European banking giant, is starting to soften a bit.
Post Continued Below . . .
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One homeowner wo got help from NACA reported that not only did she get a permanent home loan modification, HSBC reduced her principal balance as well, knocking over $145,000 off what she owed on her home loan and reducing her interest rate from 5.25%, which was interest-only, to a permanent 3% (for 25 years).
She wrote:
I stopped making mortgage payments in 8/09 from being unemployed and going through a divorce. I went to the Save the Dream event this year in June. . . . [In January 2012] after 5 months of constant calling and faxes.. I recieved a letter from my lender (HSBC) yesterday with an approved loan modification.
Now that’s HSBC home loan modification success!
Next week here on this blog, we will be discussing NACA in detail and how you can get the foreclosure help you need. This organization is truly one of the best — if not THE best — around when it comes to getting real help to modify your home loan, get a permanent home loan modification, get a principal reduction on your home loan, etc.
Benefits of Using NACA to Help You Stop Foreclosure
1. They’re Real: First, it’s a real bona fide, non-profit organization that helps homeowners not only qualify for (cheap) home loans, but prevent foreclosure as well.
2. Free: All help receieved from NACA is free. Tha’t's right, 100% free. You never pay a dime and they tell you this right up front and encourage you to report anyone who asks you for money to modify your home loan.
3. Courteous: All of the home loan counselors and agents at NACA treat you with the utmost respect. They truly get that being faced with foreclosure is a traumatic enough experience and they go out of their way to encourage you that, “It’s going to be ok.”
4. For You: NACA advocates for you, the homeowner. They are not an agent of the bank, home loan servicing organizations, etc. They tell you every step of the way that they’ll help you with any problem you may have when dealing with your lender. And, if you get turned down for a home loan modification, they’ll give you Plan B, C and D. Their motto should be, “Never give up,” because they don’t let you.
5. Immediate Help: If you attend a NACA event, you can get home loan modification help THAT DAY. The one conference we attended, we saw homeowner after homeowner get their home loans modified — saving hundreds, and in some cases thousands, per month.
Home Loan Modification Success — from $3,700 per to $2,200 per Month
One guy flew in from California to a NACA workshop in Atlanta and got his payments reduced from $3,700 to $2,200 — that day. He’d been working with NACA since November 2011, but got immediate relief that day.
So the testimonials you see on the NACA’s site from homeowners who have successfully modified their home loans are not fabricated; they’re real — we’ve witnessed them firsthand.
There Is REAL Home Loan Help Available: Never Give Up
The bottom line is, don’t give up your home. There is real hope if you need your home loan modified. NACA can help, and next week right here on this blog, we’ll discuss exactly how. We went to a NACA workshop, spoke with counselors and home loan servicing agents, and will reveal all the inside info you need to successfully get your home loan modified with NACA’s help.
Stay tuned!
Get Answers to Your Home Loan Modification Questions
Have a Home Loan Modification Question? Have a Question About NACA? Send it to us. We’ll get you the answers you need.
Related Posts
Home Loan Help: Documents Needed to Apply for a Mortgage Modification with HSBC (and Other Lenders)
Mortgage Loan Modification: Top 10 Questions About (Home) Loan Modifications
HSBC Bank Restarts Home Foreclosure Process in New York and Other States
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