I purchased my home December of 2005 with a 3 year interest only loan which expired Feb. of 08'. The increased payment has caused me to over extend my budget and heavily use credit cards. With no luck in refinancing my mortgage or modifying my loan with HSBC, I put the home on the market in April for the purchased amount. After many weeks of no movement or offers I lowered the price and started to purse a short sale. After 151 stressful days on the market we finally received an offer this past weekend. I forwarded the short sale package and financial information as well as hardship letter to HSBC yesterday and confirmed they received it.
I've read some other posts and any advise would be greatly appreciated on how to move things along, negotiating the short sale and how to be forgiven for the shorted amount. I have not contacted a lawyer and wasn't sure if I needed to.. If anyone has dealt with HSBC and has any helpful tips please let me know.