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Back in 2009, we decided to refinance our home loan and roll in our second mortgage and some other bills as well. We were told that if we made payments on time for 6 months, we would be eligible for reduction of our percentage which is 10.75%. After thinking about this for two days, we decided to refinance. Since then, it's been a nightmare. When we called near the end of 2010 to see about the reduction in loan percentage, they told us, they were not doing that program anymore or taking in any new loans. So, we are paying $1389.87 a month.
So, we were stuck. We tried to sock as much on the mortgage as we possibly could. Then in 2012 my hubby got laid off. Instead of paying our property tax on time, I decided to wait until I got my refund back from the IRS. HFC took it upon themselves to pay our taxes for us without our permission. They did this for 2012 and 2013. So, now my mortgage jumped from $1389 to $1589 and some odd change. With medical expenses on the rise, I had to break up my mortgage into two payments. $800.00 one time and $800.00 the next time - which basically is my whole paycheck after taxes and insurance, etc. is taken out. I have even dropped making contributions to my 401K. Well because my payments are late, I get charged the late fees. So, right now with late fees and paying property tax, I have a $3853 dollar mortgage payment.
I can't call them for they offer no solutions. When I do, they tell me to refinance but no one will touch us for our debt to income ratio is too high. We have student loans out of the wazoo because my kids were not eligible for financial aid even though I am working four jobs. We are not rich, we barely make the middle income bracket. I have not been able to make consistent credit card payments because of the mortgage. I was even told by HFC that since I cannot keep up on my payments, I should sell the house. What was once considered the American dream is now the American nightmare! Something needs to give. I should have stayed with Countrywide.
I am with HSBC Mortgage and just found out they are no longer reporting my payments to any of the credit reporting agencies. I called them about it and was told since November 2014 they stopped doing it because of the hard time people fell on in the recession and it was affecting their credit. I asked HSBC Mortgage, "What about the ones who were paying their mortgages, is that fair to us? And why should the good suffer for the bad?" They told me it was also costing the company a lot of money to do the reporting and it was no longer worth it.
I asked to speak to a manager, but got nowhere. All they told me was to send a fax or mail a letter about my concerns and that will start reporting it because it is on a as need basis. I send them a fax which I confirmed that they received it and to date nothing happened. I call them back and they told me I still need to wait a little longer, but this is now going on almost a month. The government needs to step in and fix these issues with HSBC Mortgage. They should not be getting away with it.
I have read at least twenty complaints about HSBC and everybody is saying the same thing. My complaint is like everyone else who has tried to refinance with this company. Our interest rate was 9.25%. We sent in all the necessary paperwork and were denied a hardship loan. This resulted in my filing for bankruptcy. HSBC is not giving me any information or statements from my payments that I am now making to them. I asked for a 2014 interest statement for my taxes in September. The statement was mailed on December 2nd. First HSBC told me they did not have a correct address for me nor a current phone number which is a lie because nothing has changed on my account. I feel that because they are no longer in the US they do not have to follow the laws. Is there anyone out there that can help with our problems? Please let me know ASAP.
When I refinanced my HSBC Mortgage in 2007 before I retired I was told to sign and the Mortgage Protection Insurance would contact me with new policy. The Office Mgr was gone! The New Office Mgr told me the letter of protest from not getting a new policy for Mortgage Protection. HSBC Home Office did not get my letters HAND DELIVERED to my local HSBC OFFICE in Missouri. When I returned the Office was closed permanently July. Asked for Loan Modification every month until November still nothing.
On Nov 25 I received a call FRAUD with HSBC home number as caller I.D. switched to a Fort Lauderdale number 954 278 7579 Jeff ** & Michael ** Identified themselves as Point of Contact, Loan Modification program. **ALL FRAUD** Heavy Pakistani or Indian accents told to send Modified Loan Payment via Walmart Money Gram to Lina ** in California. Finally HSBC Home Office answered their phones and I was told it was a fraud. They had all my HSBC loan information. FBI was informed.
Same thing here. My payments increased dramatically and they won't give me a copy of anything I've asked for. I called and asked them for assistance - maybe a loan modification. They sent me a letter asking for certain documents to be "faxed" to them (fax only? What?), so I did and never heard anything from them except another letter requesting the same documents. I did this three times and still get the same letter in the mail every week. Now they want to foreclose without even talking to me. We need to SUE them!
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I truly understand all these dissatisfied customers. I am experiencing the same situations. There were several programs for mortgage companies to participate in that could have help people who were having financial problems but they chose not to. So that lead me to believe they don't want to help anyone. I would like to retire in two years but with $1800.00 mortgage I just don't see it. If anyone thinking about going with this company - bad choice. Very bad choice. I'm 64 years old. I owe more than the house is worth do I feel like I'm renting from them.
They sent me a past due notice over a difference of ten cents... I tried to phone them and was not able to get through... their phone system STINKS. I sent them 10 pennies.
I bought my house through Beneficial over 20 years ago at 65k and had gone through a divorce 5 years ago. The total on my house now is 84k with only 3 late payments total. The divorce agreements states that I had to refinance my home within a year to get my exes name off the property and loan. So here I am 5 years later pissed off after I had just been summoned to court by my ex wife because there is nothing I can do to refinance my home. Ive tried 3 times to refinance and have been turned down every time, even through other companies. When you call HSBC they automatically tell you to try HARP or HUD and they know damn well that they wont accept anyone through HSBC. They just want to get you off their backs.
So I tried to get a loan modification to try and get my interest rate down and went through hell with that. They said they needed 4 consecutive pay stubs which I faxed asap and was told to wait a month for an answer. So I waited a month and no one called so I called them. They told me that I needed 6 pay stubs and a copy of my divorce papers so I faxed all the needed paperwork and was told to wait another month. So I waited and still no call. So I called them. They told me that they still didnt have all the info they needed and they needed an itemized list of my monthly bills and the amounts I pay for groceries, gas and childcare for my 2 children.
So they added everything up and told me that all my bills put me -$200 monthly and they didnt see how I got by so they said it was very likely that I'd get approved for the modification and it would cut my mortgage payment in half. So I waited eagerly for another month to get my loan modification approval only to be told that I was denied and needed to foreclose on my home. I wrote them a long letter pleading to them to help me out so my kids and I dont lose our home and they still denied us. So now I'm being taken to court by ex wife (not my childrens mother) and hoping maybe the lawyers can help me out and everything goes in my favor seeing as how I tried so hard to abide by the law and get this house refinanced and was denied multiple times.
Ran into financial problems the past two years. HSBC put me on a six month forbearance agreement and told me after six months I would be caught up and then they would redo my loan. After six months I called and guess what? They wouldn't redo my loan because I was 3 more months behind on my mortgage. This has now been a 2-year struggle to try to save my house, they just refuse to help and are now threatening foreclosure. I had the house sold at one time they refused the deal, now I have sold it a second time in a short sale, said they would give me an answer in 30 days, guess what so far it hasn't happened.
In the meantime they are charging us crazy fees and interest because they are dragging their feet. Seems like they don't want me to get back on my feet. It would take three days to tell you all the other crap they have put me through. My credit is wrecked thanks to them. I don't know what to do now, can't afford an attorney. Anybody have any ideas? Stay away from the HSBC crooks. Why hasn't the government stepped in to do something? I know I am not the only one who is having problems with this bank.
In 2011 HSBC signed papers along with myself and HEMAP/PHFA, who were helping me and a few months later HSBC tried billing me an extra 1600.00 on an itemized bill that HSBC signed off on. HEMAP had me send them a copy and the 1600.00 disappeared off my monthly statements. Then Mortgage Services took over but they're still HSBC. The 1600.00 started showing up on my statements again. I tried resolving it again but am still being billed for it and I'm sure it's been adversely affecting my credit rating.
Now they're telling me that even though my escrow was paid in full in March 2015 and is paid in full until March 2016, I have a 90.00 shortage in my escrow account even though I have a surplus of 495.00. It is a law that that is the least amount of money that I can have in my escrow account. They alluded that this was an industry standard and all mortgage companies practice this.
This is just the tip of the iceberg I have suffered at the hands of HSBC. I need all the help I can get and I have past statements reflecting the 1600.00 disappearing then reappearing, correspondence, documents with HEMAP. I need legal advice as to why after paying on my house for 8 years, last month 48.88 is what was applied to my principal and although my homeowners insurance is paid in full and still has 5 more months of coverage, 108.30 was taken from my house payment, paid on my escrow, and I still have a 90 something dollar insurance and this has been going on for years. Please if you can help me, **. THANK YOU.
This is an awful company. My original mortgage agency was bought out after 2 years of me paying on time every month and suddenly I was receiving letters from HSBC that they were my new mortgage agency. I didn't mind, until they jumped my mortgage payments and insurance up 200 or more dollars, and I had great credit, then after a couple more years of struggling barely making ends meet my husband got injured and I had lost my job. I couldn't afford the full payment so we were negotiating payments every month and trying to catch up until we realized we needed a little help. They offered a hardship loan during his injury, which we thought was a blessing to help us recover, but it was a nightmare.
We made tons of small payments towards the loan, and none were recorded for 6 months. We discovered after we found out we were being foreclosed on. We called the company. They swore we were ok, that the hardship was going through, but the same day I found out I had to move. They not only lied but never recorded our payments and my family and I lost our home. To top it all off, 6 years later they've been sued and everything else, but still say I owe them money after they screwed me, and their lies and everything are messing my credit up to where I'm unable to get a new home still.
They don't care about us. We're money and just a number. Paying on time doesn't help with them, they'll take everything away from you as soon as something happens, and their insurance is a joke and costs a fortune. They need to be put out of business as they've put so many families out on the streets and no matter what everything is always your fault, don't fall into their hands.
I refinance my home with HSBC and I was informed that my interest rate would be 8 percent at this time. My interest rate is 10.99 percent. I have file for hardship several times and denied each time. I owe more than my house is value so, other finance company don't want to deal with me, because of HSBC.. At this point I'm living a nightmare. I can't pay this mortgage along with my other bills and take care of my kids on one income.
I could go on and on about my negative experience with HFC. The most recent was a lack of any assistance when going through a lower income period. Even worse years back the lies, the illegal charges, etc. It was so bad I almost had a nervous breakdown. There was never anything they could do and especially at a time when I would have qualified for another mortgage such as the harp program. They were not a lender that participated in anything but what they offered, which was NOTHING. I guess we took the mortgage...we suffer the consequences.
My home may be worth half of what I owe them, not to mention I have already paid the mortgage...just never get the balance to show it. If there were a lawsuit going, I would take the time to dig up those old records and join in FOR SURE. All the negativity out there about them, why can't any authority do anything about it? Why is there NO help? I was finally told when speaking with parent company HSBC that HFC no long exists, but found out that there is no improvement on any assistance requested. I guess it's time for bankruptcy for me.
My home was struck by lightning in 1999 and in 2000 I opened an equity line of credit with HFC in order to finish repairs. I was desperate and should have never agreed to a 12.99% interest rate on a $50,000 line of credit. I pay approx. $6000 (payments $608 per month) a year in interest so at this point had paid approx. $48,000 in interest. I paid on time for 8 years and then in 2010, I lost my job and was unable to find new work. My income was cut by 2/3 and of course my credit was wrecked. I did HFC's appeal for help process and found out they don't really have a process for help. They also lost my loan modification documents which I faxed four times and then realized they were intentionally making it difficult for me to request help. They agreed to reduce payments for a few months but would not consider reducing the interest rates, even though the market rates were 2% or lower.
Each time I asked for real help in terms of lower interest rate to reduce payments, they referred me to HUD and refused to consider lowering my interest rate or working with me for a long term solution. I am 70 now and have only social security plus a small amount of self-employment income. I will never be able to pay off this equity line of credit and there is no one to help. HFC also has no physical offices and no staff who can work with you. Every time I called (hundreds of time over 4 years) I would have to start over and spend 20 minutes re-telling the circumstances. I would be on the phone 45-60 minutes but help or options. They should be barred from providing loans in the US as they are predatory and inhumane.
In 2007, Beneficial (HSBC) took over our Mortgage via a local branch. Our payments were high to start with, but the branch campaigned to us, "Oh just do this for a year and we can reduce your payments then." Well the branch closed and began dealing with the main office. My husband was laid off for 6 months while I footed the bill and when he finally got working again I started having trouble with not receiving my pay for 3 months via my Contract Co was not collecting their money fast enough. So 9 months of only 1 income and house payment of 2600$, we just needed HSBC to be more patient & helpful. They gave us a short term Modification but needed more time to catch up. In 2010 our Bankruptcy was finalized. Then the market crash and it was because of Mortgages such as ours. It's been 5 years and nothing is the same. Our credit is ruined and all we had needed in that moment was time & more understanding.
Last November during the huge snow storm we had damage to a detached garage at our rental property along with gutter and window damage. Our insurance company evaluated the damage and awarded us $23,000.00, check payable to HSBC and us. Since May I have tried to get money to start repairs but have been denied because they want a signed contract, lien waiver and substitute W9. Since we are doing the work ourselves they won't release any money. I put $2,000.00 down on new windows and they refused to reimburse me first because the window company wouldn't sign lien waiver and then because the invoice wasn't dated! OMG.
I was then advised to act as a General Contractor by filing a contact with my husband as property owner, a W9 and lien waiver. Two of the documents were accepted but the lien waiver was denied because I didn't put a company name on it, we'll I'm not a company! Now I was told they will send me new paperwork so that I can get $10,000.00 released to cover materials and labor money will be paid out once inspected. Who do they think will do the job for free? It's my insurance money, I only owe $31.000.00 on the mortgage I've have for 22 years and I always pay on time. How can I get my funds released so we can get our property fixed? Any suggestions?
Well they said get modification through HUD - so went, got all paperwork, and they said didn't qualify. Filed appeal, they said didn't qualify. Before this I tried everything, they kept changing what they call loan specialist. They all had weird names, sounded phony like one was **. I made arrangement for payments to come out my bank, so then they took money when wasn't suppose to. My bank got overdrawn, was a mess, so then changed accounts. So they got mad and accelerated the loan. Been trying to get help, but the lawyers want lots of money (1300 a month) then mandatory fee of 995 a month, plus extra to travel hotels and food, plus any witness all would cost. If I had that kind of money, wouldn't have this problem. I need to find out what my options are, need to see if can do Chapter 7 and still keep my home. If there is ever a lawsuit against them, I would join for sure.
My problem is that a letter of satisfaction was never sent and recorded in the public records as paid. I am in the process of refinancing my condo since April 1, 2015 but cannot complete the transaction without the Letter of Satisfaction. My title company is Action Title and they as well as myself been contacting HSBC for this release. As of this date HSBC/lien release at Mortgage Family has not responded with a status. Anyone I talk to and email all the necessary information tells me my request is in the research dept.
After three months trying to I have had to cancel two closing and another one is set up for July. The interest keeps going up which causes me to lose money I do not have. However, after many weeks of researching this resolve this I am at wits end. Do I have any recourse besides waiting for HSBC to complete the research that might take more months which puts me at standstill.with HSBC, the attorney, my Title Company (Action Title) and myself have been transferred from department with no luck.Here are all the numbers we have tried, with ABSOLUTELY no success in getting the Satisfaction Letter. 866-435-7089 HSBC Mortgage Satisfaction Section (spoke to **). 1-800-449-8767 ext: ** Lien Release Department. 877-826-8663 IA382866004 Home Equity. 866-435-7098 Ext. **. Reconveyance Services
Supervisor: ** 866-435-7098 Ext. **.
I have trying for over a month to get an updated satisfaction letter. The revise letter should show the recorded dated as Dec 1, 1989 not October 27, 1989. Also the page # should be 299, not 301. I have been discussing this with 5 HSBC staff members, 2 of which were supervisors. I tried calling them up after they promised to take care of this. But they have not returned my tel calls even after I left msgs on their ans. machines to call back. Right now I am very angry because the loan s/b closing on Jun 15. If I cannot close I will be charged an extension fee, plus the interest rates that I have locked in will increase. I am now thinking of taking legal action. Please let me know if HSBC will take care of this problem.
It started out with inflated appraisals for our property. We should have thought twice then. It has been a horrible ride since then. We obtained our loan in 2008 and now we owe an additional $20,000 in other interest and penalties! The interested in our loan is already 3x what the nation is paying. We have been scammed and cannot find a lawyer who can help! I was told we could pay twice a month and lower our interest.. But by paying twice a month they put the first half on hold until you pay the second portion of the payment then they charge $26.00 for late fees, this is even when you pay before the due date!!
They paid our taxes without notice and raised our already high mortgage 25% more to pay them back. We had already discussed a modification, lowering the interest rate and refinancing with no solution. No agency or bank will discuss HFC because the loans are not backed by Freddie Mae or Sallie Mae. It as if the only choice they want you to have is to walk away. It would take pages to go through all the details...
This has been the most stressful loan process or financial transaction that I have EVER been thru. Mortgage loan less than 20% with 80% down, 2nd time we'd had a mortgage with HSBC as well as accounts in HK, USA and UK... Loan has been approved and finalized but getting in contact with ONE OF THREE people on "our team" was impossible. Voice mail and unanswered emails. No accountability or care was ever displayed...No one ever at desk or in office.
Everything done but still HUGE chance of not closing as title company, myself, broker, and our lawyer keep trying to get final numbers sent to title company before closing as was indicated had already been done-but not. Radio silence, not to mention I have been up from mid-night to 3 am for the last 4 days trying to make contact? Too upset, distraught, and angry about how this was handled and how we have been treated to even articulate more than my experience was terrible, exhausting, and unprofessionally managed.
I had filed bankruptcy in 2007, but I didn't add the mortgage, but somehow HSBC included it under the bankruptcy. Now I can't refinance under a lower rate - I'm stuck in an 8.5% rate. Tried the Harp under Quicken but was turned down twice because what HSBC has done. The bankruptcy was a 7. If I knew what they did I would've included them and erased this debt. No one will touch the account.
I have been selling Real Estate full time in Rochester NY for 33 years. I have sold millions and millions worth of houses (mortgages). I have never had as bad experience as with this HSBC deal. Buyer is very well qualified. Excellent credit and income putting 20% down conventional and the processors have conditioned him to death with verifications and paperwork. It is more than one month past mortgage contract due by date. Still nothing. Very poor communication. Probably because underwriting is not done locally but in India. I will never accept an offer on one of my properties with an HSBC mortgage contingency. Both Buyer, Seller and Attorney's paralegals are all angry. Talk about word of mouth.
I like many others have been cheated by HSBC. I will not go into all the details here about their criminal like activity, but they illegally foreclosed on our home. I lost my job in 2010 and asked for a loan modification twice and was refused. I asked for a quick sale and was refused. I sent what I was able to afford on the monthly installment and it was returned. I contacted a company that instructed me to have HSBC show proof of claim. They said that in many cases the loan and the deed are separated in the transfer from one bank to another and this is a federal violation. M&I Bank was the originator of the loan.
Over a period of nine months we repeatedly asked for proof of claim. All they would do was send a copy of the mortgage which was unsatisfactory. We filed a legal document to cease and desist for lack of proof of ownership of the loan. The bypassed the law and foreclosed, forcing out of our house three days after my wife had neck surgery and was in a brace. I am looking for others that are interested in filing a class action lawsuit. This company needs to stopped. I had an audit performed on HSBC and found other illegal procedures they are guilty of.
In 2003 we refinanced wth HSBC. We refinanced again in 2010. HSBC sold our mortgage to PHH Corp. in 2014. We are currently trying to get a home equity loan through our bank, SunTrust. Everything is done expect for our lien release from 2003. Apparently HSBC never filed our lien release with the Anne Arundel County. SunTrust contacted PHH requesting a copy of the release, but they did not have it. They said to contact HSBC. SunTrust contacted them weeks ago and no response. Our loan is on hold until we are cleared of this lien.
We have had a 1st and 2nd mortgage with HFC since 2007. At that time any existing small loans or other mortgages were rolled into the new one with HFC (would show as paid off). Our new mortgage process enrolled us in the "on-time payment to lower interest" plan (they neglected to even start it until 2012). In 2010 we did a Chapter 13, (which is the one that pays everything off by us making a lump dollar payment to the court trustee), but the mortgages were not included... we did a direct pay to HFC for both. We paid off the HF line of credit during this whole process and because of the way the HFC/HB paperwork was filed, they got paid by the bankruptcy court too! So they actually got paid twice!! And you say "illegal and crooks"?? In Sept 2015, we became debt free except for the house. Intending to refinance, we completely replaced the roof... no problem with financing.
We need a new heat pump for the furnace, now... here's the problem. After the roof process through another bank, our credit report no longer showed our current status with HFC. It now shows only the "paid off" mortgages that were part of the 2007 package through HFC and suddenly no payment history. No one will do anything with us since it shows we no longer have any mortgage. But we do! HFC says they don't have to do anything about it, they do not have to report any good payment history (we have NEVER missed a payment) and they do not have to participate in any refinance plans that we have.
HFC, and by way of connection, HSBC are crooks and no one in any government regulatory agency seems to have any jurisdiction over them. We need to find an attorney with guts who will do a class action suit to get this company to do right by their customers. In the "land of the free and the home of the brave", we are being held hostage by a financial terrorist who is not even a US lender.
I am at my wits end. My husband had to retired, my mother is terminally ill, I've asked and asked for help and what they provided is: Principal reduction where I still owed the same amount, pay the same amount 2300 a month and now I have a bill with the IRS of almost 20,000. After submitting about 20 packages and 100 of pieces of information I was served with a foreclosure notification. I have not asked for anything else except help in reducing the monthly amount, if they increase the loan term, and reduce the interest by just a few points I will be fine. Unfortunately this behavior is allowed and encouraged by our own system, they make more money on the foreclosure than if they help us.
My husband and I received a notice from HSBC that we under paid our property taxes last year and owe an additional $1300. I went to the tax office and our taxes have been frozen for the last two years and will go down this year because my husband is 65. Now I have to call them, and every time I call I get someone who has a hard time understanding me. Totally frustrated!!!
I recently fell behind on my mortgage due to circumstances beyond my control. At the time I was only two months behind on my mortgages. I decided to at least send them the monthly mortgage to avoid being behind any more but they refused to accept my payment unless they were the full amount that was owed (the missed payments). I decided to accept what I thought was help to re-modify my mortgage.
After accepting the offer and mailing the payment that I agreed upon I received a call from HSBC stating that my payment wasn't a full payment that it was lacking 84 dollars. I questioned the gentleman about the 84 dollars and was told that it was for money that they paid out prior to the re-modification agreement and that it was for equity that was still owed. It now instead of lowering my payment increased it back up to almost what it was before. They informed me that they were breaking up the amount past due over 12 months. They are in my opinion misleading and failing to inform the customer of certain things and then letting them know after the fact. I am a veteran and this is shady business as far as I'm concerned.
I have been paying on this mortgage for 13 years and have decided to switch to quicken loans. In the process I found out HFC has been charging me additional interest. My payment is due the 20th of the month. I was never late, never missed a payment. The man told me that they charge interest from the 20th till the date they receive a payment which is interest on interest. How do they get away with this? I need something done about this I need my money returned. Is there a class action suit against HFC somewhere that I can join?
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