HSBC Finance Corporation is among the largest consumer finance companies in the United States, and operates under the names HFC and Beneficial.

Beneficial - [ID: #0001]

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Before

• 1st Mortgage – Rate of 8.40% and mortgage payment of $1,504.54 (principal and interest).
• 2nd Mortgage – Rate of 9.25% and mortgage payment of $280.37.

After

• 1st Mortgage – Rate of 5.25% and mortgage payment of $1,128.95.
• 2nd Mortgage – Rate of 5.25% and mortgage payment of $201.84.

Beneficial - [ID: #0002]

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Before

Monthly payments of $2,529.10 with 9.140% interest rate. Borrower had been granted a 6-month modification, but the borrower failed to make payments. Further modification was denied 3 times.

After

We performed a Forensic Mortgage Audit and obtained a modification. New 6-month forbearance plan, monthly payment is $1,697.03 principal and interest.

HSBC - [ID: #0001]

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Before

13 months past due and in active foreclosure. PITI payment was $1,913.45 with 7.625% interest.

After

Approved for a special forbearance plan into a final modification. Three monthly payments of $1,182.46, saving $730.00 per month, and foreclosure is suspended during this time.

HSBC - [ID: #0002]

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Before

Previous payment was $1,533.90 PITI, 9.04% adjustable interest rate with a scheduled sale date.

After

New monthly payment is $895.02 PITI with 4% interest for 5 years, 5.5% for the sixth year and 7% fixed for the 7th year and the life of the loan. First payment is due in 2 months.