I'll answer it for you.
An act of contrition "as hope for God's mercy" is what the Roman Catholic church teaches as exceptable contrition.
It is called "interior repentance".
It is a radical reorientation of one's whole life, a return, a conversion to God with all your heart, an end of sin, a turning away from evil, with repugnance toward the evil actions we have committed.
At the same time it entails the desire and resolution to change one's life, with hope in God's mercy and trust in the help of his grace.
This conversion of heart is accompanied by a salutary pain and sadness which the "Fathers" called "animi cruciatus" (affliction of spirit) and "compunctio cordis" (repentance of heart).
This is found in the Catechism of the Catholic church, section IV, part 1431, page 399.
This sounds an awful lot like being born again.