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About HSBC Mortgage Reviews
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HSBC (NMLS #399799) is an international banking and financial services institution that offers home loans as well as other financial products and services. As a mortgage lender, it specializes in conventional loan products, including multiple options for jumbo loans and low-down-payment loans. You can apply for a loan online, in person or by calling the company directly.
Pros & Cons
- Offerings include affordable loan programs
- Competitive interest rates
- No credit check for rate quotes
- Loan program for noncitizens and permanent residents
- No FHA, VA or USDA loans
HSBC has a variety of conventional loan options, but it doesn’t work with many popular government-backed loan programs. Some of its affordable loan options may be appealing to first-time homebuyers, though. Also, borrowers that have existing relationships with HSBC can qualify for jumbo loans with more favorable terms.
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Reviewed Feb. 16, 2016
M&I bank held our loan for 1 month, then selling it off the HSBC. Since that time we have had nothing but trouble. From missing payments that were sent and cashed to the latest. HSBC has not filed one credit report since the day they took over our loan. NOT ONE! M&I bank is the last creditor shown for a mortgage. This was in 2008! So in the last 7 years my credit report is devoid of any type of mortgage reporting. When I called to question this, they told me that they "had the option to opt out and they had". Not only do I owe $20,000 more than my home is worth, it is not Freddie or Fannie so I can NOT refinance, no other bank will even touch this loan because it is riddled with unsecured debt and our interest rate is 8.450.
We are currently in the process of securing a construction loan to build a new home. This credit issue has provided significant issues with obtaining our loan and NOW our bank has requested a Verification of Mortgage, which we were told would take 7 business days. We are currently on week 3 and when I call in no one can give me any information as they claim this is being handled by a department that no one is able to call or contact other than through mail or fax. I am getting frustrated beyond belief and in the meantime my construction loan is being put off, the sale of my current home is being put off and my builder is being put off and will eventually have to fill my build schedule in order to make his own money. Why can't ANYONE step in and help?
Reviewed Feb. 12, 2016
I did a refinance with this bank in 2015. Together with the companies they chose to complete it made it a horrible experience. I was lied to and deceived on numerous occasions. Their employees either don't respond or when pushed transfer you to a different person prolonging the anguish. My loan has been a complete nightmare. PLEASE! PLEASE! PLEASE! Do yourself a favor and do NOT do business with this bank.
Reviewed Feb. 11, 2016
Like most folks on here I am not unique. Same job 33 years with the same company. I am in sales and 100% commission. When the economy went sour I pulled money from savings to stay afloat, waiting for it to improve and things to return to normal with my income. Eventually I ran out of savings to stay afloat and fell behind. I offered partial payments to HSBC as a good faith attempt and they would not take them and demanded full arrears. I did send in a couple thousand dollars and they put in a holding account and would not apply it to the mortgage. I kept calling and worked with an adviser to save my home and HSBC continued for 6 months plus to saying they were reviewing my paperwork and would get back to me in two weeks. It never happened and I slipped further into the red.
They played games with the mediation company I was dealing with and gave them the same run around. This went on until we got a court date and the lawyers for HSBC would show up unprepared and blamed it on HSBC for failure to comply with court mediator request and dates for decisions. The only way this stopped was by threats of the judge deciding my case and what my modification would be. Then they came with a modification which included me paying about $34000 in additional legal expenses for them and the bill they ran up with their attorney. I also gave them another $10000 as good faith that I could pay the modified mortgage. I was desperate to save my home and agreed.
My home is now over market price by $50000 dollars and there is now way that will ever improve in my lifetime. How do I get HSBC to reduce the principal and remove me from servitude? They have me paying for their attorneys because they were trying to squeeze me out of the house and walk away. I did the right thing and how I have been current on my mortgage ever since. This feels like I am in servitude to this bank.
Reviewed Feb. 8, 2016
Have lived in our home for ten years plus and question why we were never allowed for a refinance. After first several years in contract, I became disabled and asked HSBC for modified loan with lowered interest, but denied. My wife lost her job and again I asked for consideration, but was denied. The story goes on and on. Struggling continues. Nov 2015 statement had a home appraisal fee added to our mortgage, then we were notified our contract was being serviced by a new agent. I'm lost in all this and that. We have paid ten years mortgage payments and owe the same we borrowed originally. Where can I seek help or answers?? Thanks.
Reviewed Feb. 2, 2016
For the past three months I have been attempting to pay my mortgage online and each site that HSBC Mortgage gives me has a message that "This site is temporary unavailable, please try later." If this is an option available to customers, why is it not being made available? I have to call each time I make a payment, instead of paying online.
Reviewed Jan. 11, 2016
They ruined my life!!! I am the sole provider of a family of five. I've been a homeowner for fifteen years and paid two mortgages off with HSBC. My family and I were pre-approved to move to Florida from New York. First I was told I would close by Nov 24th so when my house in New York was sold I was homeless because for weeks I was lied to and told an appraisal was ordered and half the time my loan team was on vacation. So at this point I was homeless for the first time in my life which felt just terrible for my kids and pets... So luckily my sister allowed me to stay with my pets in the garage. Next I was told I was in underwriting with a four day turnaround.
A week later they told me my application could not be found that someone named Jerry signed for it who no one knew and now had all my personal information. After trying to talk to a supervisor I was transferred to different people everyday who were of less help than my dumb ass loan officer. Finally on December 7th I was told verbally and through email my loan was approved so I spent 5000 dollars moving across the country. Upon arrival I was told I had to start process over but no one knew why.
So after three more weeks of sending these negligent idiots the same exact information over and over they say I can't purchase home because I don't have enough employment time in Florida which of course not - I just got here from New York and held the same job since I've been 21... 16 yrs employment same place. And also have three small minimal deposits which they said "Fill out a gift letter - that's all you need. Trust me again." At this point I can't provide resources to show where the 400 deposit came from. I am sick to my stomach and my poor kids are bouncing school to school and once again I'll be homeless because of these lying scumbags. Beware!!!
Reviewed Dec. 27, 2015
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.
Reviewed Dec. 17, 2015
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.
Reviewed Dec. 11, 2015
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.
Reviewed Nov. 28, 2015
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.
Reviewed Nov. 24, 2015
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!
Reviewed Nov. 21, 2015
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.
Reviewed Nov. 18, 2015
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.
Reviewed Nov. 18, 2015
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.
Reviewed Nov. 6, 2015
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.
Reviewed Oct. 19, 2015
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.
Reviewed Sept. 30, 2015
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.
Reviewed Sept. 24, 2015
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.
Reviewed Aug. 20, 2015
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.
Reviewed Aug. 6, 2015
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. $48,000 in interest. I paid on time for 8 years and then in 2010, I lost my job and was unable to find new work. My income was cut by 2/3 and of course my credit was wrecked. I did HFC's appeal for help process and found out they don't really have a process for help. They also lost my loan modification documents which I faxed four times and then realized they were intentionally making it difficult for me to request help. They agreed to reduce payments for a few months but would not consider reducing the interest rates, even though the market rates were 2% or lower.
Each time I asked for real help in terms of lower interest rate to reduce payments, they referred me to HUD and refused to consider lowering my interest rate or working with me for a long term solution. I am 70 now and have only social security plus a small amount of self-employment income. I will never be able to pay off this equity line of credit and there is no one to help. HFC also has no physical offices and no staff who can work with you. Every time I called (hundreds of time over 4 years) I would have to start over and spend 20 minutes re-telling the circumstances. I would be on the phone 45-60 minutes but help or options. They should be barred from providing loans in the US as they are predatory and inhumane.
Reviewed Aug. 1, 2015
In 2007, Beneficial (HSBC) took over our Mortgage via a local branch. Our payments were high to start with, but the branch campaigned to us, "Oh just do this for a year and we can reduce your payments then." Well the branch closed and began dealing with the main office. My husband was laid off for 6 months while I footed the bill and when he finally got working again I started having trouble with not receiving my pay for 3 months via my Contract Co was not collecting their money fast enough. So 9 months of only 1 income and house payment of 2600$, 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.
Reviewed June 25, 2015
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?
Reviewed June 22, 2015
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.
Reviewed June 15, 2015
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. **.
Reviewed June 12, 2015
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.
Reviewed June 2, 2015
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...
Reviewed June 1, 2015
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.
Reviewed May 18, 2015
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.
Reviewed May 15, 2015
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.
Reviewed May 10, 2015
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.
Reviewed May 6, 2015
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.
Reviewed April 14, 2015
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.
Reviewed April 14, 2015
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.
Reviewed April 1, 2015
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!!!
Reviewed March 13, 2015
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.
Reviewed March 12, 2015
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?
Reviewed Feb. 19, 2015
Several years ago I had a small video production company, I traveled extensively around the world filming hunting and fishing videos for major sponsors. I had a platinum American Express, Diner's Club and several Visas and Mastercards. I used these cards extensively to the tune of several thousand dollars a month. One day I received a call from HSBC, one of my card companies. They told me I had qualified for a signature loan of $15,000. No collateral and it could be in my checking account tomorrow. I agreed.
Over the next 3 or 4 months I not only made the payment but paid more than the required amount, I now owed them $10,000. One day I found a deal on a camera and called HSBC to re-borrow the $5,000 I had just paid off. Not only did they refuse, he told me I should not have received the original loan and told me he was calling the note immediately for the remaining $10,000. I did not have it and I told him that he called me, I didn't apply to him.
I refused to pay the balance except in the originally agreed amount. Three months later I was in a book store, put down my American Express card to pay and it was rejected. Diner's' Club, same thing and so did the Visas. HSBC had placed such a bad entry on my credit that all credit cards immediately cancelled me, even though I had never even been late on a payment.
They left me with no credit cards, unable to travel for my job and shortly after, I was forced to declare Bankruptcy. HSBC, I found out later, owned a couple of the cards I was carrying and has a reputation for shady business practices. I have never recovered from that incident and now have a couple of low limit Visas to try to work with. They are the worst.
Reviewed Feb. 19, 2015
I too had difficulties making payments a while back. Tried to get modification, denied!! No reason given. Luckily we were able to catch up and get current with no help from HSBC, they added payments that weren't correct. Now I want to pay off my loan and I now have deferred interest added to it. I always paid full payments and still do not partial payments! What the hell is deferred interest!! I think everyone who has loans with HSBC should have a class action law suit against them for unfair loan practices!!!!
Reviewed Feb. 12, 2015
This bank refused to work with us. When the economy crashed back in 2009-2010 we ran into financial problems like the rest of the country, losing our jobs because of companies going overseas and were late on a couple payments. When we were finally able to get caught up we sent a check in and the bank returned it and put us into foreclosure. We were late only 3x and never did we NOT pay. It was a NIGHTMARE to say the least....
Words cannot explain what we suffered in the following years trying to deal with this bank. The next year the banks were bailed out and we nearly lost our home from the dealings of this bank. Everyone in America was feeling the crunch and there was no relief, no help. Just constant harassment and threats of foreclosure. The pressure the banks put on us caused so much stress on my family that we ended up divorced.
This bank employed ruthless people who laughed at us and belittled us at our efforts of trying to keep our home ... They used extreme tactics and threats. After complaining to the boards they finally withdrew and offered a modification. I was told to pay up the taxes which were in arrears and I did send them a check for nearly $4,000. They gave me a new modified mortgage and it has been paid faithfully on time every month including the escrow. I even received a letter at the end of each year stating that they will credit my account 1,000 for being on time every month. ..
And now after just 2 years they send me another bill for nearly the same amount CHARGING ME FOR ESCROW? HOW IS THAT POSSIBLE WHEN MY ESCROW IS CALCULATED AND INCLUDED IN THE MONTHLY PAYMENT. I called my town tax office and found out that they did not pay the 2nd half of last year. So where is my money going? There is something very wrong going on here and I hope that this bank gets shut down. Not only did they ruin my family, my health has suffered and I am now considering legal action to get my mortgage out of their dirty hands. They are trying to ruin the American dream. Who runs this place? If any people of power are reading this please do something to help us little people. How did my mortgage end up with this bank?... Thanks to Quicken loans who gave us a sub-prime mortgage and THEN sold it to them.
Reviewed Jan. 26, 2015
I have a mortgage HSBC. I told them I wasn't working so I applied for modification but they denied me all because they wanted me to pay 900.00 dollars but I didn't have the money. So now I'm behind of my mortgage cause I explain everything that I was out of work. I got hurt so I didn't have any money coming in. I'm really worried I might lose my house. I'm now back at work.
Reviewed Jan. 13, 2015
We purchased our home in 1999 in Vine Grove KY. My wife & I are both veterans. HSBC purchased our note in 2001 & arbitrarily change our mortgage rate from fixed to adjustable without our knowledge. After long fight we walked away in 2010, after paying over $140,000.
Reviewed Dec. 30, 2014
My husband's late wife (deceased 2002) took out the mortgage on our house through HFC at an extremely high rate as was normal at the time. When she first passed away HFC gave him a hard time with administration letters because in NY a raised seal is how the legal document is stamped as opposed to other states that have stick on golden seals or inked seals. They refused to talk to him most times and when they did, always refused to work with him. Most recently (long after HSBC took them over) we were told that we cannot refinance since HSBC closed HFCs mortgage department. The mortgage is still in her name even though she is deceased 12 years, as we have been told, it is illegal to change the name on a mortgage even with letter of administration and my husband being her widowed spouse. Is this correct?
We have between $60K and $100K equity in the house, my husband is self employed and I have a steady job. Although we currently carry high balances on a few of our credit cards we still have available credit lines and credit scores that saddle the line on both sides of Fair/Good. We have been completely unsuccessful getting a refinance and, most recently, a home equity line of credit. We are not sure if this has been more to do with my husband being self employed and showing extensive expenses on our tax returns (sole proprietorship, not a corporation) or because his name is not on the mortgage or better yet because no lending institution wants to go through the red tape HSBC had created around its acquisition of HFC and its closing of their mortgage concerns.
We would appreciate any help or suggestions you can offer. We have been quoted a monthly payment ranging from $880-$1,300 depending on whether our taxes are included on the various times we started the refinance process and were turned down. This baffles us because we can show we have managed to pay $1,900 a month PLUS the $9,000 annual property and school taxes. If we can pay that why can't we get a refinance?! Does anyone have trick on how to deal successfully with HSBC/HFC? Feel free to email me at ** - if you think you can offer me any help and it is much appreciated. Thanks!
Reviewed Dec. 29, 2014
I called them today to see about reducing the mortgage payment they gave as I had a reduction in income. Was told that because we added a past due principal balance to our mortgage they could not help. Now they are saying we need to come up with $3883.48 to afford loss mitigation. What can be done? I want to keep my home but this mortgage company will not work with me. Anyone know what I can do?
Reviewed Dec. 16, 2014
I have had a good dealing with this company. I pay online weekly and am way ahead of the game. But when I ask for one month of relief for the holidays, they told me "to let it go into default, get reported to credit bureau and then we can help you".
Reviewed Dec. 16, 2014
A couple of things have happened with HFC over the last year. I have been trying to modify my loan with them for almost a year now. Their attitude is "we will not help you. Go find someone that will.” Also, in June of this past year, my wife and I bought a used vehicle and contacted our credit union for a loan. When the credit union rep called me back, she said that it looks like we have not made a house payment at all this year. I pulled up our account online and printed it out to show our credit union that we were current on our mortgage. When they (my credit union) contacted HFC, they were told that they are behind in updating payment information for their customers. We also received a letter from them stating that we owed about $10,000 in back taxes. When I went to our county treasurer’s website and typed in the property ID number from HFC's letter, it was not even our property. I contacted them and was told they would have to investigate it, which would take about 4-6 weeks. Totally terrible company.
Reviewed Dec. 11, 2014
I opened an account with HSBC back in 2004 and owe more than the original loan. What can I do about it? I feel this to be a total farce taking advantage of the American public thinking they're helping you when they are making millions on our money that we are struggling to pay. Anyway I've thought our government should take over and make them A Fire Company instead of letting them rip off the American public. Someone needs to stop what they are doing and forcing people into bankruptcy.
Reviewed Dec. 10, 2014
After a making a mistake on my end for October Payment, I thought it was taken care of, only to find out that they have now told me I am two months behind on my payment. I have never been more than 26 days late. I called and they said I had not paid October which I had. I told them I was thinking about talking to an attorney and they immediately told me they would no longer talk to me about my account if I were to go this route. OHHHH, that was a surprise!!! My account... So I asked for a copy of all my payments starting in January to date but I won't get those until January of 2015. So, I am at my wits end. I am going to pull money from my 401K, pay off small credit cards, get my debt to ratio down and try to refine and get HFCBeneficial out of my life for good.
Reviewed Dec. 10, 2014
I call HSBC to see what I needed to get my loan current. I was told after an hour on the phone that 3400 would bring my mortgage current. I paid that then paid September's payment. They sent it back saying we were in default. Sent us foreclosure papers in October. We got a lawyer and HSBC lawyers won't talk to her. It has been over a year now and nothing done. My Husband is Active duty in the military. He has been since all of this has been going on. He is a 30 veteran. They would not talk to us when this happened. We tried several times to talk to a rep to see what we had to pay. Now they are sending me info saying they are going to foreclose again. Already there!
Reviewed Dec. 1, 2014
We had damage to the house in November 2013. Damages were repaired and because of a bankruptcy (that they forced us to do), they (HSBC) have to approve every move that happened concerning the work done on the house. When the work was finalized, they requested that our contractor sign a waiver, which had already been done. Then they requested that The contractor actually call them to tell them that the work was done. Then they would release the check to me without the contractors name on the check. Then they asked to have a final inspection report. I had to inform them that the report had been filed, by their inspector. After many lies, they sent the check to the chapter 13 trustee, which they should not have done. (According to my Lawyer.) The check then took over a month to be sent back to them (HSBC).
Then they said that it had to be reprocessed and then they asked for another copy of my husband's death certificate. Then they asked for a letter from the Chapter 13 trustee telling them that the check should be sent to me, not her. Now they are giving the runaround with that check. They now said it had to be reprocessed to have my husband's name off the check. Which (by the way) they had already said that they were doing in an earlier phone call. Now they are saying that the check would be delayed if because they had to have a different department take his name off the check. So now as it stands, they still have some of the insurance proceeds and say that the check has to approved by the check processing dept. and will take another two weeks. This has been going on for five months now. They know that I am surrendering the house, which is why they are messing with me. In the mean time, I have lost my husband to cancer and I fallen and broke my arm. I do not understand how they can get away with do these things to so many people and the government allows it.
Reviewed Nov. 21, 2014
Presently, I have a second mortgage with HSBC. Several times I have called to refinance this mortgage. It is not a large amount; however, the loan is one that gets the interest upfront so the principal rarely seems to move. Approximately 12.5% of the amount paid goes on the principal. My mortgage is underwater and getting it refinanced difficult. I pay every month and can't get a break. It's not fair that when I refinanced the total mortgage, the mortgage expert!!! told me that the mortgage would not refinance unless I consolidated. Biggest mistake in the world. It has had devastating results. I can't be the only one in this leaky boat. I am a taxpayer. When will I get help from my government?
Reviewed Nov. 9, 2014
We were paying our payment every month, paying the same amount. They send us 4 checks back to us. I call them, the guy was rude and told me that the amount was wrong, I told him that the same amount we have been sending. We send in $4,500 and thought everything was o.k. They added all these fees, we were back sending payment, they took our payment and use is for the fees, added late fees, saying we weren't paying our mortgage. We send them $3,300. They still added fees, later on when I call them, they told me our payment was the same that was on the 4 checks they send back. If anyone is thinking about a mortgage with this company, don't do it, run, run fast.
Reviewed Nov. 4, 2014
I have been trying to get a modification from HSBC for a year and have been denied because of income, and just recently because my hardship don't meet their requirements. Our income has changed drastically. We are upside down by $150,00 or more. I am not current on my mortgage and do not want to lose my home. What can I do, they are the worst and no one wants to work with them on helping me get a modification.
Reviewed Oct. 28, 2014
I have been fighting with HSBC for about 3yrs to get my credit bureaus to report correctly. Last year for about 9 months they reported about 70% accurate information on my account and as of December 2013 stopped reporting my credit as well as everyone else that has a mortgage with them. The excuse was they were upgrading their computers. This lasted through August 2014. Then I noticed the trade line for HSBC had been removed from all reporting agencies. Have complained and got nowhere with them and today received letter stating that they are not reporting because of FACTA fair credit reporting act. THEY HAVE WRECKED MY CREDIT AND I CANT GET REFINANCED BECAUSE NOW MY 10YRS OF LOAN HISTORY IS GONE. Have not been late for over 3yrs on my mortgage. It is horrible what they have done to me. PLEASE HELP.
Reviewed Oct. 23, 2014
How can this be happening? They are cheating everybody. They will not modify anyone's loan. This company is a rip off. The people at this company is so rude and working for con artists. They would get more money and recommendations if they would help people with their loans instead of ripping us off. All I can say is Karma is a ** and you will get yours back.
Reviewed Oct. 22, 2014
My loan is close to being paid off. I received a bill increase of $550 per month. My loan is a fixed rate. I have been calling since 17 September 2014 trying to get this corrected. I receive at least four calls a day, which I don't answer. I have asked for the number to the legal department, but always get a number where I have to go through the entire story again and am assured it will be corrected within 10 days. It is now over 30 days and nothing has been corrected. Who can I contact to make these people do their jobs and quit giving me the run around?
Reviewed Oct. 10, 2014
I have been having a rocky time with payments over the past couple of years. I need 3 operations and was out of work for a long time, but I paid my mortgage but it cost me my saving since they would not work with us on the payment. After returning to working I now have taken a $500 a week pay cut and I cannot pay all the bills in the home anymore. HSBC has only offered me plans to catch up where we are behind that required double payments! If I cannot make regular payments how could we make double? They would deny any modification we requested! now they want $4000 in payments and say the only thing they will work with us on is a short sale! We don't know what to do! The house needs a lot of work and we are 50 years old. Should we file bankruptcy and try to get a new start? I don't know what to do or who to talk to! I need to find a way to keep 7 people from becoming homeless! Can anyone help or advise?
Reviewed Oct. 8, 2014
Also reported them to CFPB but they simply reply:
"We are unable to report this account to the four major credit repositories of Innovis, TransUnion, Equifax and Experian. When the Chapter 7 was filed in 2005, HFC made a business decision to delete this trade line from the credit bureaus. We have confirmed that this account is not reporting to the above listed credit repositories, and as such, are unable to submit any updates to resume reporting."
Client is paying 10.79% interest with a simple interest loan with them showing a ridiculous amount of deferred interest causing them to currently be upside down. HSBC refuses to send any documentation to prove this is owed despite sending a lifetime payment history with no explanation of what payments were applied and why. Clients thinking about filing class action suit if enough people want to sign up.
Reviewed Oct. 3, 2014
I got a equity line of credit from HSBC over 9 years ago and started with a balance of $37000.00 and 9 yrs later I still owe $37000.00. Asked to change from the line of credit, refused since I did not live in the home. Every time I called to get the payment owed for the month, got conflicting information causing an additional call to straighten out the error, never corrected properly. I am finally fed up after the last 2 months of calling and trying to fix the last mess of charging my account double payments and refusing to apply the extra payments to the principal because once again they claim I was behind in payments and still I have seen no documents despite asking for them to substantiate their claim. I feel forced to accept what they claim to be my payoff to get rid of this nightmare. If there is some sort of suit out there associated with this type of deceptive practice I would like to be involved. I will also continue to pursue this issue.
Reviewed Sept. 30, 2014
Dealing with this bank HSBC is a nightmare that you can't wake up from. It took our insurance ANPAC 4 weeks for assessed and pay for the damages. The check was paid with HSBC name on it. They put it on the "escrow" account and kept asking for receipts and contracts and each representative gave a different suggestions, requests and different answers. 4 weeks later, they still did not pay us so we could pay the contractors. We do not recommend getting mortgage loan with this bank. They are so unprofessional and horrible. Horrible.
Reviewed Sept. 10, 2014
HSBC has been obstructive, misguiding, negligent, and down right uncooperative in my attempts to: Pay Off, Close, & obtain a Release of Lien document. Each step of their process that you complete, there is misinformation provided to the consumer. You are constantly advised to "call back in a few days" to verify a step was completed. Then when you call back, you find it has not been done. The representative that you speak with that day, will ask for more of the same information be faxed to them. Then you are advised to expect your fax to take 15 days to be entered into their system. At that point, they want you to call back and confirm, then start the process from that day, which will be a minimum of 30 days. It's a vicious cycle.
They also advise that you can fax in a third party authorization. They will conveniently not find it in their system. A conference call can be arranged. You will get transferred, once they realize another bank is on the line. They seem to be more willing to cooperate with the banking representative on the line. However, they refuse to provide them any paperwork - they insist that the consumer did not follow their instructions. They continue to move the expected date of Release of Lien out by at least 30 days.
I paid my loan off in June of 2014. It is now September 9, 2014. I'm no closer to getting my confirmation of account closed, and Release of Lien, even after multiple faxes, multiple phone calls, and third party conference calls. I had already entered into a contract to refinance the mortgage on my house. HSBC's misdirection has caused me to lose $500, that I paid to lock in my interest rate. I have filed a complaint with the Federal Reserve. In so doing, I also asked for them to notify my state Attorney General, and include them in the investigation.
Reviewed Sept. 5, 2014
In 2011 I requested a loan modification through them. For over a year I had been sending requested documents. I had even contacted four different companies that specialize in loan modifications as soon as they found out I was dealing with HSBC Beneficial. They said they could not help me because HSBC would not work with them. I got notice from HSBC that they were foreclosing on my house. I contacted a lawyer and ended up filing for chapter 7 bankruptcy during the proceedings. The loan was turned over to Caliber home loans which I understand is associated with Beneficial. So now my house is going up for sheriff's sale.
Reviewed Aug. 30, 2014
I too have had a hard time getting anywhere with these stupid people, I am really disgusted that MY money that was paid for my home was used in laundering drugs and terrorism. I have tried to modify my loan only to be told my 2 second practice payment wasn't received and that that I STOPPED PAYMENT on it, when that was a lie. I even had MY personal BANK send them a letter confirming I did not, it didn't matter to them. I hurried to my bank and withdrew the money and Western-Unioned it to them. I was still denied the modification, but was told my account was brought current and all is good. So, I paid them almost $5000.00 in 2 months to catch up everything and $500.00 was applied to my principal. Then I get a statement with all of these bogus charges on it and when I called to find out what they were, they were for returned checks that had bounced (had not written a check and had no return payments) from 2006 and 2009...Really? Just now waiting to collect this bogus money in 2014?
I am divorced from the other name on the house, can't get it refinanced or his name off. They said they no longer refinance anymore. So, I am stuck... I have cussed, I have yelled at them and although it makes me feel a little better, it has gotten me nowhere. I am sick of the 7.85% I am paying in interest. Have had this loan since 2005 for $99,000 and 9 years later, I am at $89,000. I would love to get out from under these corrupt people, but I am stuck, just like the majority of everyone that has complained on here.
Reviewed Aug. 26, 2014
My wife and I applied for a HELOC at HSBC. We have been banking at HSBC for almost 10 years and were told the HELOC process would take about 30-45 days. We are now approaching 120 days and about to give up on the process. We have put in countless hours trying to complete the loan, but to no avail. Last week, we were told by the mortgage consultant (Jason **) that all we needed to do was have a certain amount of assets in the account to move forward and close on the loan. We transferred assets into the account and then we heard that we need a certificate of occupancy (C.O.) from the city in order to close the HELOC. This can take up to 6 months to obtain. We never heard about a C.O. throughout the entire process. It only came up at day 120 once they had additional assets at their bank.
Our premier client relationship manager (Kevin **) told us several times he can help out but he has been absolutely no help. To make matters worse, when the HELOC took too long, we asked the bank to help us out with a short-term line of credit to tide us over until the HELOC was complete. We had several people tell us they would be able to help us out (Kevin**, Jason ** and Brian **), all of them lied and told us we would need to turn elsewhere. This has been the worst financial process that we have ever had to deal with. HSBC has lied throughout the entire process and the individuals that we dealt with were completely incompetent. Now we have to deal with it as we were left in the lurch.
Reviewed Aug. 22, 2014
HSBC Mortgage Services has not reported or updated my credit report at all 3 bureaus since Dec 2013. I sent them a letter in July 2014, asking that my account be updated. Nothing back. I sent a second letter with the same request in August 2014, now mentioning my account is reported as "closed" with Equifax (probably because it hasn't been updated for so long). HSBC responded this time. Their reason my account hasn't been updated since 12/1/13 - "HSBC Mortgage Services has been suspended from reporting to credit agencies."
Why? For how long? My excellent credit and score will be negatively impacted, as already at Equifax my account is labeled "closed" with HSBC. Eight years and counting with HSBC Mortgage Services, with never a missed or late payment, never had an issue until now. I also sent Equifax, TransUnion, and Experian a letter, requesting that my account be updated and corrected with HSBC Mortgage Services, maybe they can do something on their end. My question is WHY? I wonder if they'd notice if I stopped making payments? Might as well with no credit reporting!
Reviewed Aug. 22, 2014
I am another one whose interest rate is well over 7.5% (it fluctuates every 6 months, up and up) and with any other loan I could get HARP help, but not with HSBC loans. They refuse to work with their customers and will not, under any circumstances, refinance or modify a loan. I just want a fixed rate! I wish they would get investigated, it is clear this company is corrupt - more corrupt than your average huge mega company.
Reviewed Aug. 1, 2014
I have had my mortgage with them for 9 years. They have not applied my payments properly. For the first few months of my mortgage I received 56 was so towards my principal. Then for nearly two years my total payment was applied to the interest. This company has unethical business practices. If you are an attorney that would handle a class action lawsuit like this please contact me.
Reviewed July 23, 2014
This is the most awful company as mortgage loaners that I have ever known of. My friend has had a loan with them since 1992, never missed a payment, been charged hazard ins and already had it then to top it off they added late fees on their own. Help.
Reviewed July 22, 2014
During the final steps of trying to re-finance through another lender, HSBC erroneously reported a late payment causing the re-finance to fall through. I was going through treatments for breast cancer and by the time I found out what had happened, I was a week late in making the next payment (thinking the re-finance had gone through and paid the loan off). Now my credit was ruined to the point where I could not refinance. I then asked for a modification because I could only return to work part-time and my husband was working and renting in a rural area 3 hours away to try to make ends meet.
They would not consider our circumstances as needing any special consideration. Because of this we tried to sell the house but were not able to without a substantial loss. We moved to another state for work and have been able to rent the house after 6 months, but at a rate much less than the mortgage payment. My husband lost the job in the new state, still no help from modification department, as our situation is considered "temporary". We have NO savings and have even used our entire retirement account to make ends meet. They call me on the 1st of every month demanding payment (before the grace period is even done).
Today, they called 3 times before 11:00 am, saying I had not paid this month, when I had. They finally found the payment in unapplied funds (where all our payments go until I straighten it out). They want me to pay for reports done during the modification process and the report is grossly inaccurate (was like a drive-by appraisal, but has a lot of wrong information) and I did not even approve this report. I am having anxiety and stress daily and no more money. I am 51 years old, lived in the house 20 years, no retirement, no savings and no hope of getting any money from this house.
Reviewed July 21, 2014
If I could rate no stars I would! We have done business with this company since 2008. Their service is horrible! They made it impossible to get a modified loan! But, this is the last straw! We requested a payoff amount in writing! We received a letter from them with the payoff amount, and mailed overnight with signature request to the address on their response letter! When I called to check on them receiving the check, I was told I mailed it to the wrong address! They said I should have mailed the payoff to the address on the second page. There was no second page! I sent the check to the address on the letter that was in Florida and today they tell me it should have gone to an Illinois address that they gave me on the phone today. Now I have to get the original check cancelled! If they don't receive a payoff check by 7/25/14, they will add another chunk of money to the payoff! I have never dealt with a company as horrible as this in my 61 years of life! They are hard to deal with and hard to get away from!
Reviewed July 9, 2014
In 2000 I was placed on disability after reached the age of 67. I was informed by HFC that the disability inc. ended at age 65. I ask for a copy of the inc. on 4 different phone calls and e-mails & faxes; did not receive any response at any time. I told them that I was still disable and they had paid themselves 48000 of my 20000 dollar loan, of which they had only paid 6000 on the loan and was wanting me to pay 14000. I said no, that they was not ripping me off.
Reviewed July 2, 2014
Well in October 2013 HFC file foreclosure ppw on our home. This after many times trying to get them to do a loan remod and then to be told no you have passed deadline etc., etc. Well I hired a lawyer. He stopped the foreclosure by filing bankruptcy ppw. I was then told by judge to start making the normal payments not the past dues. HFC cashed every check. I have also been writing them letters trying to get details on how they came up with all the strange amounts on my statements. Now take in mind that After October 2013 I never ever received any statements from them. I would mail in my payment with a copy of the coupon.
In January 2014 after they had cashed a couple of my checks they started answering a letter once in a while. I have been sending about 4 letters a week. Then In May I get notified they have sold to Caliber, So make payment to them. On June 23 I finally got a statement from Caliber. None of the amounts matched that I had. It even showed that I had not made a payment at all in 2014 which is wrong because I made a payment every 30 days. The only amount that was the same was the normal payment.
So I called lawyer and he said just pay the normal payment like I had been doing all year. So I mailed that payment yesterday. Then today some strange person came to our house wanting to look at it. They said they were going to bid on it at the Auction on July 2 at 10 am. What the Hell. HFC and Caliber had been rifling foreclosure. I have received nothing. I mean nothing - not one letter, not one notification, not even from the county. My lawyer called Medved Law and they stated that HFC said I had not made any payments.
So now after all this they have been scamming me to go behind my back and basically steal my home. What a disgrace. They are crooks and everything else I can call them. My husband is a Marine Vet and is now going to be on the streets soon if someone cannot put a stop to this stealing. I forgot the term my lawyer used but what they are doing is very wrong. Also there is already a bid on the home via the internet. And guess what? It’s HFC bidding on the home. Oh I remember is called cleansing the loan. And what about the county. How did they get them not to mail the normal letters. Did they not provide the correct info or what. Or is someone at the county in with them on this scam. Please any ideas - this is wrong!!!!!
Reviewed June 27, 2014
Let me start by saying I have NO idea how this company is allowed to do business in this country! We opened a mortgage loan with these idiots in 2005. We were told our real estate taxes were included in the payment amount which was way too high as we later determined we had an inflated appraisal. When we found out they were not included, I tried endlessly to get them to modify the loan. We were told they couldn't because they shut down all their local branches (as if that's not suspicious in itself).
So, we come to current day - - we were served with papers that they had sold our house on the courthouse steps, we retained a lawyer, determined all of the correct steps had not been taken and proceeded to drain my 401k to retain the deed. We have had our house on the market since late summer 2013, we went in to short sale status and actually had a written offer that was submitted to HFC by our realtor who has been in the business for 40+years. Our realtor was told they would get back to him within 5-7 business days. Well after three weeks of NO return phone calls, he called HFC only to find out they had SOLD the loan to Caliber. HFC has lied to our realtor and us from the beginning. First of all, what company buys a loan on a short sale listing if they are not in this SCHEME together? I am at a loss of words and absolutely stunned that this no good company is allowed to do business and ruin the lives of so many. We can't all be wrong here! So, Caliber claims they do not have the info on the short sale offer, any of our financial information, etc.
We have pulled our house off the market and are just waiting for the certified letter. We are DONE trying to do the right thing with these idiots. Does anyone know of an attorney that handles these kinds of issues? We have got to put these people out of business once and for all and I will do everything in my power to let everyone know the scam artists that they really are. It is shameful on all accounts. Everything I have found on Caliber ties right back to HFC. They are BOTH PREDATORY LENDERS!!!
Here's a good laugh, when we were served with the lawsuit and I contacted HFC, I was told they did NOT have a legal department! Are you kidding me?... They must really think their customers are as dumb as they are!
Reviewed June 13, 2014
I have had all the same things happen to us, as I see written by other consumers like me, whom are getting tremendously ripped off. There needs to be a class action settlement against this horrible "lender"!!!!! Where do we find help! These people have aggravated me so much, I am beside myself!! I do not know what to do.
Reviewed June 9, 2014
In a panic, we took out a $30,000 loan when my job and graduate school status (age discrimination) fell through. We had sold our home in California and bought our home with cash but we also had a daughter in college. Regardless of evidence and paying in person, they always claimed we had not paid mortgage or taxes although we give them proof and have proof from USPS or FedEx for overnight service, etc.
Today, after five years of protection in Chapter 13 bankruptcy, which they were a major factor in creating, due to their incorrect late fees and other "unknown fees," we have completed said bankruptcy. They literally wasted no time threatening foreclosure over taxes that have been paid, which I have sent to several addresses per their reps, who always give differing addresses, and our lawyer who started to use the address where the court sent payments. I am ready to commit suicide over this, it is all my fault for not realizing how bad they were and being in a panic as we had been used to a decent, non-poverty lifestyle in California as opposed to my (embarrassingly) home area of the midsouth near Memphis.
May God forgive me for ever coming home after 30 years to a bigoted area and for not finding a better way to deal with our sudden thrust into poverty back in 2009. I was an analytical scientist now organic farmer but I was an idiot and today, they plan to take our house despite evidence showing we are current on everything. Tell everyone you know that they kill people, at least indirectly.
Reviewed June 9, 2014
In 2009 I fell deathly ill. I had a Tumor and it was removed. I put in a claim since I bought The Out Of Work Insurance through HFC. I also was harassed everyday with several calls demanding payment. This was while I was and should have been Healing. It was not until after I went back to work, the insurance only covered one month. Then my sister lost her job. She put in a claim and it was denied. We did get a lawyer and we did go to court but the wrong party showed it was not HFC, it was Caliber. The rep from Caliber said that she did not work for HFC, so how was this a transfer and not a sale of the loan, and how could HFC sell the loan when we were to go to court? Now Caliber wants almost 1500.00 as a Modification amount. What more can I do to save My Home of 30 years??
Reviewed June 5, 2014
We have had nothing but problems with this company. They paid our real estate taxes without our knowledge, then showed the amount as an advanced balance on our statement. When we were experiencing financial problems, they would do nothing to help us. They would not redo our loan at a lower interest rate nor would they look at our financial statement to modify our loan. Now they have sold our loan and claim that there is a cease and desist order on our account and will not talk to us until we sending them a letter removing the order that we didn't even put on the account. They are the worst mortgage company to deal with on anything.
Reviewed June 5, 2014
I just need to know how or who can help me get out from them? I have had 3 modification done and my interest rate is still 7.5 % - been with them for 9 years. Fallen behind again and have 5 kids. Cannot afford to lose my place.
Reviewed June 1, 2014
HFC/HSBC mortgage harassed me for 4 years about mortgage payments that they claim were not paid but I have proof of every single payment made for 48 months from my bank. Yes cancelled checks. This company should be held responsible for deliberately scamming consumers by misapplying funds on purpose to create late fees, reporting negative payments on credit reports, increasing mortgage payments without written notice, not responding to written inquiries, falsifying mortgage statements and other terrible instances I have experienced with them. Not to mention the poor customer service.
We need to fight back! We need to join together against this company and collectively contact Our a Congressperson, the media, FTC and the Federal and State Attorney General's office. As I read the reviews posted, I am so angry and filled with tears by so many people reporting the egregious actions by HFCS/HSBC Mortgage. We have to do something about this company. Will you fight?
Reviewed May 22, 2014
They have all the required forms and papers and I cleared their inspection. They have the insurance check since may 6, yet they refuse to pay the contractor. They want the contractor to sign a lien waiver before he is paid. The contractor has refuse this. What should I do next?
Reviewed May 15, 2014
I'm in danger of losing my handicapped accessible and usable home due to death, illness, loss of job. I can't make a mortgage payment of $900.55 and insurance, and utilities on my disability. My Mother passed away eliminating her income. I had been using our combined funds to pay for her care and the mortgage. I'm under 13 bankruptcy, but still being threatened with foreclosure. I have been denied a reverse mortgage as my bankruptcy and the owed mortgage is greater than the house is financially worth. I don't know how to raise $98,081.54 to pay off the mortgage and more to pay off the bankruptcy. If you know how to help, please do. Please understand I can't pay an attorney as I have little left at the end of the month. I'm paid on the 4th Wednesday of the month.
Reviewed May 6, 2014
I refinanced my home in 2007 when I had some credit problems at a whopping 11.5% interest. I was hoping to fix my credit and refinance in the future. The economy went down and now I am stuck with paying 11.5% interest on a house that I owe $97,000 for and it is worth $61,000. I am not in hardship so they won't do a loan modification, not even a temporary one. I can't get it refinanced by anyone since property is under water. They did a couple of temporary modifications for me a few years ago, but I see that amount has been added on to the end of the mortgage, so that did absolutely no good. How are they able to keep screwing their clients? Something needs to be done.
Reviewed April 25, 2014
We have been honest in pay our mortgage debts, but due to HFC/HSBC unethical business practices precludes us to meet our debts obligation. We have exhausted our life savings, 401K and our children's college funds for the past 7 years to do the right thing, even after a successful temporary loans modification, even during loan mod HFC still reporting negative to three credits agency. Also failed to note our payment arrangement thereby keep our credit scores in the low 500, to keep us from seeking other avenue of refinancing with other financial institution for low mortgage rates. As evidence HFC were still reporting negative while we in litigation, and now switch tactics by transferring our mortgage to Calibers to escape possible legal action from this home owner for violating the FDCPA.
Not only our former lenders HFC /HSBC misleading loan mod frauds but also violated FDCPA Cease and Desist Demand, and continue to reports delinquent to the three major credits Bureaus while we in litigations including failed to report to our credit files as payment arrangements during our 6 and 18 months on time payments on temporary loans modifications. As a result of their action we could not obtain the needed refinances from any lenders, not even the We have been honest in pay our mortgage debts, but due to HFC/HSBC unethical business practices precludes us to meet our debts obligation, set this homeowner to fail with fees, when their real intention is to collect as much as they can then attempt to foreclose our home.
As the results superfluous loans mod programs, we have depleted our life savings, 401K and our children's college funds to complies with the threat Notices to Cure Defaults letters HFC/HSBC during the past 7 years. Each time we responded with sincere efforts and good intention to meet just our debts and paid the demands to save our home. We have endured many hardships, goes to great length do without and became one of many statistics of falling victims and lost thousand of our hard earned income to loans modification scams.
Our lender former HFC /HSBC failed to respond our QWR request, violated FDCPA-Cease and Desist request and continue to reports delinquent to the three major credits Bureaus while we in litigations and failed to report to our credit files as payment arrangements during our 6 and 18 months on time payments on temporary loans modifications. As a result of their action, we could not obtain the needed refinances from any lenders, not even the Department of Veterans Affairs would not consider us because our mortgage is not VA loans and of because of our credit scores. In essences the lenders hold us hostage and extorts thousands dollars in late fees, penalties, unapplied funds even when we are only several hundreds dollars shorts.
Even refused to accepted our bank’s certified checks which causes our mortgages to fall further behinds with their bogus fees, penalties, and threaten with foreclosure if we do not cure the defaults (in which we've done for the past 5 years). As the results our life savings, 401K depleted to honor our debts with our sincere effort to complied with our lenders demanded and hoping we would get a descents permanent loan modifications and lower interest rates and willing to whatever it takes to keep our, even with a 1493.23 a months payments if our request were granted.
We are into our 7th years of try be honest, made every sincere efforts and 75K + to saves our home! On January 2013 our decision to stopping paying this unethical and use that funds to obtained legal representation, but as of April 17, 2014, no significant progress because we were told that HFC/HSBC and the recent transfers to Calibers Home Loans on January 14, 2014. They also do not have complies nor obligates to offer any home affordable programs because they did not take the Federal Bail Out money's therefore they are exempt, and because HSBC is a Chinese base Banks, they are also above U.S. Laws and no one can touch them.
As we stated previously, 6 and a half years we have dealt with HFC/HSBC's fraud after fraud in handling the teaser loan modifications of our mortgage account. We were served with foreclosure noticed on October of 2013 and retained legal counsel to defend our foreclosure lawsuit. HFC/HSBC demanded that to be qualify for a permanent loans modification we have to come up with 40% of our arrears mortgage payments to be consider.
We now have a new servicer... Caliber Home Loans. But about as helpful as HSBC so far, unfortunately. They took over the loan servicing as of 1/14/2014. They are only a servicer, they do not own it. I got a noticed from my legal counsel that Caliber Home Loans also demanded the same 40% payments before they us consider for a loan modification as our previous mortgage servicer. We want keep our home, and Chapter 13 is another option if our Foreclosure Attorneys failed to negotiates for affordable permanent loans modification, but should have never get to this point. Help and intervention from our lawmakers are few in between, business as usual, while hard working Americans cry for help goes unnoticed and or fall on deaf ears. We just want to this travesty of justice to light, so some caring Americans can take back the Americans Dreams before it's became the Chinese Dreams. Thanks.
Reviewed April 24, 2014
My mother and father both thought they had this insurance. Their understanding that the pay on death insurance expired at age 75. Well, my mother died at age 74, in 2007, so we sent all that info to HFC. I spoke with them over the phone and one representative claimed the policy expired in 2001. Then a second call got the response that the policy expired in 2005. Well, we then got paperwork back from HFC it that stated the insurance expired February 2006. BUT both of my parents believed the insurance was good until age 75, which is the Missouri maximum age for this insurance. I know we were scammed but there is no way to prove it. Apparently, my parents were paying this but had no paperwork for it.
Reviewed April 23, 2014
HSBC continues to stall and give us the runaround. I have sent them three separate letters for documentation and proof and have not received anything. They are stating we have not made a payment since 2009!! But have yet to send any documents regarding our loan. Other issues seem to keep piling up with them and it's a never ending story. We are now facing chapter 7 and will lose our home of 20 years because of this company. Considering a lawsuit now against them yet, do not have money for a lawyer. We don't know where to begin or how to go about this process before they put us into foreclosure and we are forced to move.
Reviewed April 15, 2014
I've had a mortgage with HSBC since early 2008. The payment history has been rocky over the years due to a number of personal factors. However whenever the payments fell behind, I worked with them by tightening the belt and making higher or additional payments to catch up. I finally qualify for a VA refinance since I now have over a year of on time payments. I've been approved by one, possibly two mortgage companies. In an effort to keep their cash cow (me), HSBC now claims that I owe about 30K in "Deferred Interest" that has to be paid in addition to the principal payoff. They claim that on four occasions they "assisted" me by moving payments to the back of the loan.
First of all, I never asked for nor authorized a deferment. Secondly, I always made additional payments to catch up when behind, so why were any payments deferred in the first place. Third, they did it without my knowledge, and with no notification. Now it would take 40,000.00 for me to refinance out of this loan. The first so-called deferment moved 4114.00 to the back of my loan at a time when I wasn't even behind on my payments. Is this even legal? These people are criminals! I don't know what to do. I feel like a fish on a hook.
Reviewed April 11, 2014
How do I contact you? The same thing happened to me. In 2006, I applied for a home equity line of credit and was told I was getting a low introductory rate (I believe it was for three months) and that I could lock in a fixed rate at anytime. After the initial period, the rate went up to 6.75% and my monthly payment was doubled. I was then told that I must have misunderstood, as locking in a fixed rate was not an option.
Well here I am in 2014, making my monthly on-time payments. I just discovered they have charged me fees for a "drive by home appraisal" at $175. It is on my current statement in code, so it is very easy to overlook. Last year, there was a similar charge on a statement for $100, with no explanation. I have called them, and they said they are allowed to do this because it was stated in the original loan documents. They said they are doing a yearly drive by appraisal on my home, charging me for it, and that the original loan documents allow them to do so. Then they said they would do an investigation and I would receive an explanation in the mail within 30 days.
The letter came yesterday... There is no explanation whatsoever... Just a very generic type letter stating that they have given me the "Assessed Expenses" of a Broker, Price Option Fee of $285 that I must pay, although I am not required to pay this with my monthly charges and no interest will accrue. WHY ARE THEY CHARGING ME FOR ANY EXPENSES IN THE FIRST PLACE??? This was my initial question to them, and this was not answered.
My payments have been made on time. The property value has never decreased and the house is my primary residence. Why do I have to pay them every year for a drive by appraisal??? It is fraud! Where are the watchdogs to help the little people??? I am going to file a complaint with NYS this week just to do "something". I am outraged reading everyone's complaints here in addition to my own experience.
Reviewed March 28, 2014
I was also told that our loan would able allowed a refi after three months because the payment was higher than we could afford for long term and when I called was told I was (cannot think of the word) too much debt. The only thing we had was the mortgage. I requested mods and was given a few but when it started we were 1 month behind. Then they refused a permanent mod. They do not do those although I was told on the second trial that it was for a permanent mod. Ha ha. Shame on me for believing them my one month behind after the mod turned into to almost six months behind because the amount it was reduced was all due after the trial period.
We were told we could do a deed in lieu. We filled paper work out. Was approved. Given a move out date. Moved out then was told a lien hit the house (another branch of there company) so then when did a bankruptcy. Surrendered the house Aug 2013. We received the discharge papers. We were out of the house for two years. At this point they finally started foreclosure Dec 16 2013. Then on Dec 17 2013 they sold the loan to another company. It has been nothing but a ........!!!! Now here we go starting over with a new company but the loans they acquired from HSBC they are hearing the same thing over and over.
Reviewed March 11, 2014
In August of 2013. After 5 years with our Mortgage Lender HSBC Mortgage Corp, I inquired about a settlement on my 2 Helocs. We provided all the documentation required. Now it's been 5 months and they have done absolutely nothing. Someone in the government need to look into this matter. HSBC MORTGAGE are not cooperating. They have totally ignore my request for an settlement. I also requested copies of my notes in regard to my 2 Helocs 5 months ago and I keep getting the runaround. I place numerous calls to HSBC and all they do is tell me they are looking into the matter. They should not be allow to treat consumers this way. I want to blow the whistle on HSBC. Legislation should impose criminal penalties on residential mortgage lenders & servicers who intentionally engage in fraudulent or deceptive conduct.
Reviewed March 11, 2014
I have been dealing with HSBC? Beneficial since July of 2013. This Bank or so called Bank is a nightmare that I can't seem to wake up from. It all started when they bought my mortgage from Beneficial and changed over to another computer system, or so this what I have been told. The letters that are sent to me are from Brandon, Florida. However, they have another branch in Chicago. When I call in my mortgage payments I am put on hold for several minutes (15-20) to be exact then I get a person to whom I have to repeat the same story over and over with no one knowing what is going on.
I have not received a correct mortgage statement from them in 2 years and have received various threatening letters stating that I owe them outrages amount of money and that my home could be in danger of foreclosure and in the last two years I have had to fight with them to get a correct 1098 to file my income taxes. This year I have yet to receive a correct one and am now coming close to the date of filing to which I will receive a penalty due to their incompetence. Not to mention I have contacted them religiously to try and come up with a solution to these issue. I have even at my expense contacted my bank to get them all my payments to date which are current and paid (This cost me $3.00 a sheet at 90 sheets $270).
They have no answers other than their computer system has caused these errors and they will be corrected in 10 days, 60 days and it goes on and on. I am at the end of my rope with them and have done everything possible I could to get some resolutions with them but it is like beating your head against a wall. I am now at the point of filing complaints and will have to contact a lawyer, in which I cannot afford just to get some satisfaction in this matter. My heart goes out to anyone who has to deal with them. If anyone has an answer as to how to make them step up, please let me know.
Reviewed March 7, 2014
I too have been a victim of HSBC/HFC. I have paid over $30,000 on a $17,000 loan secured by my home and the maturity date is fast approaching. I may still owe $10,000 on this loan that I have paid over $30,000 on. How can that be legal? I would have had better luck with a loan shark... and I say may still owe because everyone you talk to tells me something different or doesn't know anything at all. I know I should not have signed something. I didn't understand 10 yrs ago but they explain it to you in such a way you believe them. I feel lost and hopeless and I can't understand how they continue to get away with this.
Reviewed Feb. 27, 2014
HSBC also inflated my mortgage by telling me "you had to have three things to make you better" and they kept adding little credit card bills on my mortgage and also they did not escrowed the property tax and the insurance correctly and want more money the following year for me so the mortgage changed again and then I can no longer refinance with them because I'm underwater and no one in this country will help us. Please somebody in this country help us get rid of HSBC 9.4% rate. $250 out of $1475 go to principal of the loan. What a joke help help help.
Reviewed Feb. 24, 2014
From the time we obtained the mortgage, I knew something was a little funny, but hindsight is 20/20. I wasn't supposed to even be on the loan, just my husband. After waiting 30 minutes for the appropriate papers to arrive at the signing we discovered my name was indeed on the loan application as a co-borrower. I only discovered that after the attorney excused himself from the room to check on another document that didn't seem to arrive with the others. Not wanting to delay this process any longer, I signed. What a nightmare it has been ever since!
When I discovered my taxes and insurance weren't included in my payment, I called to rectify the situation and was told they didn't offer anything like that! Not even an escrow type account. Who ever heard of such a thing? I went on paying everything separate. It was a struggle. It got even worse when I got sick. I have a pituitary brain tumor and breast cancer. My husband is out of work. We have two daughters and live in the lovely state of NJ. I called to get a modification on my loan or a hardship consideration. No dice!
My home is going into foreclosure and I am talking to an attorney about BK. The house is literally falling down. It isn't worth the $73K they want for it, and certainly not worth 13.85% interest they charging. What I find amazing is how they get away with this. Everyone is aware this is the same company the federal government fined millions for laundering, I believe drug money through their financial institutions. A slap on the wrist for companies like them! Where is the justice for the hardworking American people?
I guess that old saying is true, “Money talks, ** walks.” As long as the politicians in Washington are lining their pockets, who cares about the little people and where they sleep at night. Even these lawyers you go to for BK, it’s all about money. A fee for the courts, the lawyer’s fee, the court appointed person overseeing your payments even gets 10%. This country is circling the bowl. We are one flush from going down. If anyone knows of a law firm going after these ingrates, please email me with the info. I don't think I can hang on much longer.
Reviewed Feb. 21, 2014
My family and I suffered a house fire and lost everything. Our ins paid 169,000.00 dollars went into HSBC escrow and HSBC have yet to finish repairs to my house under contract... We've been fighting them since 2008, been through lawyers that wasted time, now I filed small claims but I could only sue for 6,000 dollars and HSBC owes us over a hundred thousand dollars. Our contractor BOB ** is involved as well... My house is just sitting there rotting away... Please help. We feel in due time HSBC is going to keep our moneys and our house! Without consequences. We have reached out to HSBC on several occasions and at one time a title company called them and they had sold our loan to 5 different banks. It's been brutal fight but I won't stop fighting with God's help!
Reviewed Feb. 3, 2014
I have been battling HSBC for the last 3 years on our mortgage. But every month it was the same story, please resubmit your paper work we need more info, but I never received any help. My husband and I tried everything we could to resolve this issue to no avail. I'm at a loss as what to do next. I want to keep my house but HSBC has no desire to help. Their customer service is horrible, the fact that this bank is not even in the United States makes things worse, there is no way to speak to someone face to face. This has been an enormous nightmare, I know the company has been sued so many times, and I just want this to end. The perfect solution would be to redo the mortgage at the current value of my home, not the over inflated value HSBC wants. This is just crazy!
Reviewed Jan. 29, 2014
Our loan at Ameriquest was sold to Household Finance in 2000. The first year they sent us a check for over $900 with an explanation that our escrow acct. had a surplus. I called them twice to confirm and was told it was a surplus. I also called my town tax collector and was told that my property taxes were paid in full by Household Finance. We cashed and spent the check, only to receive an updated escrow analysis showing a shortage of over $900. It was added to our payment and paid back over the next 12 months. For the last 7 years in a row they have miscalculated our escrow. This March our monthly mortgage payment will increase by $327.12 a month. We are afraid we won't be able to make our payments with that big an increase. When I called HSBC, they said they cannot refinance or restructure the loan because they no longer loan money. And I am stuck with a 9.7 % interest rate.
Reviewed Jan. 27, 2014
Our loan was bought by HSBC. We had no desire ever to see them in our lives. We had applied with them many years before and had had a terrible experience. It was downhill from the get go. Never had the same person twice to speak to and when we did get hold of someone they always had to get back to us with information. We applied for a modification was granted it after several months of sending documentation back and forth. Time would lag just enough that pay check stubs had to be resent and some even got lost.
Our latest one is that they are now reporting us delinquent in payments because we are in a modification. Yes a modification shows up on a credit report, but when you send in your payments and have documentation to prove it the credit bureaus still will not believe you. This is our 3rd modification with them. On the second one we were told that we could apply for a permanent one. That was a laugh. A week after that conversation I was told by another rep that there was no such thing. Who do you believe?
This is where life has gotten out of control and the only thing left is for "Lefty" to come up our driveway and break our legs. Our home owner's insurance was to be paid by escrow. It was due the 1st of Dec. HSBC ignored, yes ignored, the bill sent to them. We were not aware of this until a week before it was to be canceled. I called and I quote "We do not know when or how much we will be paying." It was finally paid on the 6th of January. It was through the wonderful nature of the insurance company that we were able to get the policy reinstated and the old premium. If we had said this to HSBC we would be out of the house before we could say boo.
How can a financial institution be allowed to treat hardworking people this way it be as legal as it gets. There is something wrong with the human race. I just recently asked for an extension on a month's payment. If the United States has not noticed the cold is destroying most of the budgets. I had to use the mortgage payment to get heat in the house in the month of December. Now they want to give a short sale. What idiot thinks like that? Oh that is right the investors only know us as dollar bills and no longer human.
Reviewed Jan. 23, 2014
HSBC ended up being my mortgage company when my loan was sold to them about 10 years ago. I contacted them about a year ago about refinancing my home at a lower percentage rate. They began the process and approved me for the loan, but then required me to pay them $500.00 in order to lock in the interest rate until closing. I was hesitant, but the loan officer assured me that I would get the loan refinancing. Well... that did not happen. The loan went through the entire process and when it came down to the underwriting process, they would not continue because my home was a manufactured home and then they decided that they would not finance manufactured housing. Hello... They have had it financed for 10 years now!! Then they would not refund me the $500.00 they took from me to lock in the interest rate!! Basically, they wasted my time, efforts and stole money from me. They knew the type of home I had when they began the refinancing process!!! RIP OFF... STAY AWAY!!!!
Reviewed Jan. 23, 2014
I, too, signed my new mortgage papers in 2006 with HSBC and was told that it was a fixed mortgage... However, I later discovered that it was an ARM mortgage. I've since tried to refinance with them to only be told they don't do any refinance loans. My mortgage is currently sitting at a lovely 8.5% interest rate.. 3 months after we purchased the home, my husband left and here I'm struggling to try and keep my home without any hopes of lowering this outrageous interest rate. I don't qualify for the HARP Program since the loan is not secured by Freddie Mac or Fannie Mae. What about those of us who have no chance of getting away from this company that is very greedy and won't allow those of us who are struggling any hope for the future? Why wouldn't the government step in and also help those of us stuck in this very sad situation??
Reviewed Jan. 3, 2014
We have been with HSBC for several years. We refinanced with them at a higher rate to pay off debt and renovate, we were told we would be able to refinance at a lower rate after two years. The market crashed and HSBC decided they would no longer refinance. Because of the market crash, we owe more than our home is worth and can not find anyone to refinance with. HSBC will not get on board with the HARP program or any other program because they are greedy. I recently lost my job but because we refinanced in my husband's name, which HSBC recommended, the company will not budge and continue to tell us that we can afford the payment. They are heartless. They train their employees to be rude as well. I have actually had a customer service representative yell at me over the phone when I called to ask for help with getting a rate reduction. I have never been treated so poorly by a customer service representative in my life. As you can see by other reviews this is NOT a good company!
Reviewed Dec. 29, 2013
In 2008 we had fallen behind on our bills, because of medical misdiagnoses my wife could not work for 2 yrs. That's when we received a flyer in the mail stating we were pre-approved for $5000. I went into the local office and the manager and his understudy convinced me to refi with them would be the best thing as our current mortgage was about to turn into an ARM. Reluctantly we went ahead, so they submitted our app. to the underwriters. Still wary it took us a couple weeks to decide. Meanwhile the manager called everyday, some days 2-3 times trying to hurry us in to sign the papers before it was too late, maybe the underwriters would not pass a second time.
Every time we talked, I expressed how the payments went up and we needed to have biweekly payments. Every conversation I told them 1-3 times BIWEEKLY PAYMENTS. I was told by both reps. yes, biweekly payments. Also we were to get enough money to pay off our other bills. When we were signing the papers, the lady in the room with us assured us everything we were promised was in the contract. When we got our first bill and it was the full payment I went right to the local office to talk to the manager. When I asked him why the payments were not biweekly, he told me he did not have time to deal with me because that office was being closed and he was losing his job. Then he turned his back and walked away.
We contacted the main office and they said it was done and the only way we could get biweekly was to get 2 months ahead. For the next year we struggled to do that neglecting other bills as no matter what we did we never seemed to satisfy the HFC reps. Every time we called we would get a different rep. saying we could not do it the way we were told by the last rep. Frustrated and behind with our other bills, we found out they had paid some on all our other bills but none were paid off as promised. Seeing how we were steady backing up, we quit making payments.
We hired a couple firms that said they could help at least get us a modification but everything we tried was turned down cold and now was being handled by HSBC. Chapter 13 did not work as we found out almost never does. After all that and fighting for 3 years, we were informed 2 weeks before Christmas, we have to be out of our home of 20 yrs. on the 4th of Jan. We were lied to, misled, laughed at and ignored by HFC-HSBC and their reps. and now they have the audacity to offer us $1050 to move out smiling.
When I asked for an extra 2 weeks, until Jan. 20th they deducted $210 down to $840 and entitled to deduct more at will for repairs, etc. We declined participation in their cash for keys as we would not sign another contract with them for any amount of money. They will rob me of my home not my self respect, integrity or dignity. How is it that greed and corruption has ruined this once great country.
Reviewed Dec. 26, 2013
I bought a home in 2003, had a mortgage with HSBC. 30 years fixed 7.50% int. The mortgage amount $185000, monthly payment was $1374 without tax, and ins. In about 2008 my home ins. lapsed. They went ahead, bought ins. in the amount of $1500 per year to cover the home. I guess it's the policy. So the $1500 was divided in to 12 mos., add to my payment amount. Then I had a hard time to keep up the monthly payment. Here came the Sheriff sale letter. Then they demand the payment over Western Union in the amount of $5000 to stop Sheriff sale. So I gave them $5000 but that did not stop them from foreclosure my home. I did that for almost a year - Western Union, fees, ins, and mortgage so it was too much to handled.
I've decide to filed bankruptcy in 06/09/2009. I surrendered the home. Bankruptcy was discharge 01/10/2009. 10/10/2010 they foreclosure my home after I surrendered. Now my credit is double negative for 3 years because the foreclosure.
Reviewed Dec. 24, 2013
I had a slab leak on which the insurance company paid me $28000.00 with HSBC name on it. I had to endorse it to them and then get W9/Releases and do not sue releases for four contractors before they would send me any money. They said first $10,000. You cannot pick it up "no real banks here". Anyway that said if I needed additional funds, I can send them a request (now four plus weeks) and what you think - Denied after they said they would. Ask to talk to supervisor and you get another low level person. Asked to send me a notification on what was said - "NO WAY WE DO NOT DO THAT." How do Mortgage company get away with that? Nov. 3 slab leak, Dec. 23 Now. They have no pecking order and could care less about anything you say. If you upload docs to them they say three day turnaround, if faxed one to three weeks. Then get this once a check is approved, they get it, send it on to another division then back to them and they send it out. How long does that take? 7 to 10 days. If you want it sooner, then pay up with a prepaid FedEx box.
This is in regards to the proceeds sent to HSBC from the Slab Leak and damage to the property at ** from Kemper Insurance and myself. This damage happened back on Nov. 1 and it is now Dec 11, 2013 and only one check has been sent. I understand that you only cut the first check for 10,000 dollars and that would have gotten the reconstruction started but not in this case. I am asking for an exception on this matter in the amount of 10,000 dollars so that I can move forward with construction. This will only pay for the materials not the labor. Please see enclosed contract for the major repairs. I look forward to a speedy resolution to this matter so that we can again enjoy the comforts of our home.
This is a most unprofessional group that I have ever dealt with and when I done with them, I will move my load out as I only owe 1/3 of the original loan.
Reviewed Dec. 24, 2013
That is all they are. When I refinanced with HFC, I was promised a refi after 6 months. They even borrowed me the money to make those 6 payments. The jagoff that wrote the loan showed me the new loan paperwork. There was no way I could afford the payment to begin with but I was a trusting person at that time. Called when it was time to do the refi and was laughed at. Missed a payment and then I received a loan modification for almost 2 years. My payment went from $2500 to $1350 each month. The only paperwork I received basically said what my new payment was. Nothing else. When the mod was over, I was told all the money that wasn't paid was due immediately, $24000.
When I called to ask what this was about, I was told the mod was to help me pay down other debt if needed but really I should pay all I could as close to my original payment. I was not told this ever. So my house went into foreclosure and has been for 2 years now. Filed chapter 13 and could not afford trustee payment and my original mortgage payment. Was approved through Hamp for a mod but need to pay $45,000 up front and then I get a 6-month mod. Are they just ignorant? Who in their right mind would do that. Bought my house for $209,000 and it is going up at the sheriff's sale for over $350,000. My house might be worth as much as $125,000. So they do not do permanent mods ever. Instead of playing their ** game anymore they can have it and lose their **. Do not listen to anything they say or promise you. Everyone should just up and leave their house if all hope is gone. It is not worth the heartache and worries they cause. Just a bunch of heartless LIARS and Thieves. Look up how much the CEO makes and his bonuses. Makes me sick.
Reviewed Dec. 22, 2013
I'm in the same boat as the rest of HSBC mortgage holders. My home is and was way over valued at the time I got a loan and not I owe $190,000 on a home worth 80 to 90 thousand dollars. On top of this, they can garnish my wages if I default. I am getting a lawyer next month and hopefully this will help. Oh and the only reason I can afford the lawyer is I will not be making my mortgage payment. My house is a mess with no money left to maintain after making my house note. 37% of my income goes to the mortgage.
Reviewed Dec. 18, 2013
We are and have been constantly on the brink of foreclosure with this Company. Since 2007 when we were trying to re-fi and get away from this Co., they have been ripping US, the middle class, off. I and my husband and many, many other homeowners are wondering where our Government is failing us, the people, in protecting us from such fraudulent lenders. We have lived in our home for twenty eight years. We also took money out of 401K this last summer and sent a 10,000.00 dollar check, at which most went to interest. Help. Lenders won't touch an uninsured (by our Gov.,) mortg. How is this legal? Here in this Great United States. It's Christmas and we are house/tax/medical/broke. Need a new roof and so many other home repairs, just can't repair things for lack of funds after paying HSBC their interest fees each month. Oh and by the way, we are underwater now, losing about 130,000.00 of value in the last 9 years. Merry Christmas.
Reviewed Nov. 30, 2013
We have HSBC as our 2nd mortgage. The first one is the big one with Select Portfolio Servicing which modified our 1st Mortgage with, and they brought it down from 11% interest. Yes, we have lived here since 2000 so we more or less have just been renting. Anyway they modified it down to I think 6.5% and we were trying to get the 2nd Mortgage with HSBC to do the same, but they denied us because they said we should be able to pay since SPS modified our first mortgage, so they won't and we are behind. And oh yes, we pay 10.5% on this one!
Reviewed Nov. 26, 2013
I have been arguing with this bank for nearly 2 months now, as they have "flagged" my account as 'Certified Check ' only, as they claim I missed 2 payments in the past 6 months. Only, the payments were not 'missed'. I pay online each month. Have 2 checking accounts listed with HFC, but one is an abandoned account. It has $8.00 in it for the past 18 months. My primary checking account has an average monthly balance of $18,000. On both occasions in the past 6 months, I received a phone call from my bank telling me that HFC was attempting to withdraw my mortgage payment from the account with $8.00 in it. On the same day, I called HFC, explained the above, and they took payment by phone and apologized.
Now I cannot make an online payment, nor pay by phone. Called multiple times. Instructed to write a letter and send copies of my bank statements showing payment. I did that. They're still 'investigating'. I have since filed complaints with the OCC and New Jersey Dept of Insurance & Banking. They responded to both agencies stating that I missed 2 payments in a 6 month period. Wondering what scam this is as any reasonable person could understand what happened. Reading all of the other posts on this site, I am convinced it's definitely a Scam! What are they up to??? No good obviously. Unlike many of the posts I read, I have more than enough money to pay my $2850.00 per month mortgage. It's actually one of my smaller bills each month but I am being treated unfairly. During the past 8 year recession I've actually been making $3500.00 per month payments at 8.5 percent interest. They lowered my interest rate to 4.8 percent 6 months ago without a refinance app, or even notifying me obviously due to changes in the law that I am not aware of but now attempting to ruin my credit ...And what, take my home??? I caution everyone from dealing with this bank! Up to No Good!
Reviewed Nov. 14, 2013
In June I filed an insurance claim due to damages to my home. In July I mailed the insurance check to HSBC loss draft dept. I have been trying to get them to release the funds so that I may have my house repaired. I had a contractor but they backed out of contract because it has been 4 months and I have not received the initial percentage of the insurance check. I have contacted another contractor, but before they begin repairs I hope that HSBC can let me know when the contractor will get paid or else it is going to be a problem getting house repaired. It should not take this long to get any information from the HSBC. The turnaround for any paperwork is too long. Does anyone know of anyone I may contact to speed up this process?
Reviewed Nov. 14, 2013
My parents took out a loan on their home back in 2005 ( I think) to pay off some old bills and when they did this, they were offered a life insurance policy that would pay off the balance of their home should one of them pass before they paid the loan off. Well my Mom passed away in 2009 and guess who is still making a house payment? You got it, my Dad. He has talked with these people for over four years now trying to get this situation taken care of. HSBC claims the policy was cancelled two months prior to Mom's passing yet they can not tell him why it was cancelled or who authorized the cancellation. Not to mention they have not sent him a single statement showing him where the payments he has been making are being applied such as what is going to principal and what is going to interest.
HSBC has foreclosed on the house at least once that I know of. Prior to Mom's passing HSBC auto drafted on their checking account twice on the same check number and that caused a lot of problems as well. Thankfully their banking institution fixed that right away when my parents provided them proof of what had happened. I think this company is as crooked and dishonest as they come. Honestly I do not know or understand how they are still able to business in this country.
Reviewed Nov. 2, 2013
I have contacted HSBC Beneficial and they don't work with you for the long term. I wish they would sell my loan to someone else. I'm the only 1 working. I have a medical illness and don't need the added stress which gotten me sick from the beginning. PLEASE SELL MY LOAN!
Reviewed Oct. 30, 2013
I lost my home to HSBC Back in 2011. Went in to pay back taxes, and was told I was all caught up. HSBC had paid my taxes because they were going to foreclose on me. I tried to get refinanced because I was having trouble paying my mortgage payments, but was refused. They said I didn't qualify, and so they foreclosed on me and locked me out of my home before I could get out my belongings. If it were not for the kindness of a local realtor, I would have lost everything. I was paying 10.65 % interest rate and was not aware that I was making a mistake. Was too happy because I was accepted for a loan to purchase the home, not knowing what I was getting into. It ruined my credit and my life. I don't think I will ever be able to purchase a home again.
Reviewed Sept. 30, 2013
In July of this year 2013, my husband and I, just like a lot of folks, fell behind on our Mortgage but was advised that we would qualify for a Loan Modification if we submitted all the necessary paperwork required, i.e., pay stubs, past due bills, etc. and also make a total payment of $7,200 on or by 9/23/13. Well, we were able to submit a payment of $3,836 in July but unfortunately could not send the balance until 9/20/13 which fell on a Friday. Since they would NOT accept a Check, Debit or Credit Card over the phone, we thought we could go through Western Union, just to discover that our Account Number could not be found. It was not even in the system?
We called HSBC/HFC and advised them of the problem. The associate asked me why we could not get the payment in earlier. WE DIDN'T HAVE IT. We were advised to try adding (2) zeros in the front and back of the account# and if that didn't work to add (4) zeros in the back of the account #. Well, nothing worked. After going through every possible number variation, we were then advised to send a Certified Bank Check Overnight Express and we did. The office was closed over the weekend and on 9/23/13, the package that was marked Urgent to the Cashiering Department was signed for @ 12:22 PM. I called literally 7 times on that day to make sure that my payment would be posted that same date and was assured by 7 associates that it would be posted by 3:00 PM that same day.
I was a little relieved since the payment had to be in and posted by that day, 9/23/13, but felt a little uneasy. I called back on 9/26/13 just to follow up and was greeted with, "Congratulation Mrs. **, I see that you were approved for a Modification and it would take about 40 days to have the paperwork completed," so I took it at face value that everything we worked so hard to keep had somewhat of a positive outcome.
Today we received a threatening notice of FORECLOSURE!!!! We immediately got on the phone with HSBC, me on my cell phone, my husband on the Landline. As soon as the representative verified my account information, the first thing she said was, "CONGRATULATIONS MRS. **, YOU WERE APPROVED FOR A 24-MONTH MODIFICATION," and then asked me if I could hold. While on hold, I'm listening to the conversation my husband was having w/ another associate who advised him of the same but then requested that he hold because there was an issue pending that our Account Representative was handling and she would call him back.
Well when the associate I was hold for came back and advised the exact same thing??? Needless to say when our Account Specialist called back, she advised my husband that we were DENIED the Modification because our last payment was Not Posted until 9/24/13. However, she would work on trying to get the decision reversed and would follow-up with us on Monday, 10/07/13, with a decision. We gave this company all the money we could get our hands on, took hardship from 401k, whatever we had in checking and whatever we could borrow leaving our other bills to fall further behind to try and save our Home and now we are still faced with a Foreclosure!!! We have 2 children and have been in our home for over 15 years and they're still trying to take our HOME! PLEASE HELP! We don't know what we can do from here.
Reviewed Sept. 24, 2013
My mortgage payments for the past three months are not being applied to my account. I received a foreclosure notice tonight on my doorstep delivered from FedEx. I have been on the phone for hours... No one knows what is going on with my account. 2 people told me I am in bankruptcy. Not even close! And two of them told me the money has been sitting in an "unapplied funds" bucket and they don't know why. This company has done this to us in the past and we ended up paying them $10,000.00 out of my husband's 401K. I need professional help so bad. I am so scared they are going to take our home. I have perfect notes, dates, calls, and every receipt through my bank that we are not behind one payment with these people. Someone, PLEASE, PLEASE, PLEASE HELP ME??????
Reviewed Sept. 19, 2013
I have tried to refinance my loan twice (and sell once) to reduce the interest rate, lower payments, and remove my ex's name from the mortgage .His name and mine appear on the deed, but his alone is on the mortgage. He left the property 2 1/2 yrs. ago, and I have been maintaining and paying all the bills, taxes, mortgage, etc. since then. I have been denied twice by HSBC! I cashed in my 401K without choice, because they told me I needed money to close or else they would deny me. Well, they denied me anyway, and I lost my future savings, paid penalties and taxes besides.
6 months ago, I lost my job and have been unable to make the total mortgage payment. I have been paying as much as I can monthly. Recently, I noticed that 2 checks I sent them (for $1000. each ) were not being cashed. I was receiving several calls daily threatening foreclosure. After 4 or 5 phone calls to find out why, they told me they sent my checks back to my ex, but could take a payment over the phone, AND that it would cost me a fee of $18 to do so! What a scam! My checks were no good, but a payment with a debit card was okay? I'm sick and tired of being scammed by HSBC and PHH Mortgage services!
They refuse to help me! HUD can't help me because my name doesn't appear on the mortgage! I owe $116,00 and the home was appraised for $145,000. I have lived in this home for 5 1/2 years. Everything I own, every asset in my life, is in this home... I have no job, no savings, and no retirement fund. I am in over my head, but need to save my home, for my children and my future. I NEED HELP! I HAVE BEEN TREATED UNFAIRLY, AND GET THE RUNAROUND FROM EVERY SINGLE PERSON I HAVE TALKED TO IN 3 YEARS!
Reviewed Sept. 15, 2013
On 08/26/13, I called HSBC to establish a payment of $2272.15, and set up a debit authorization for the stated amount. On 08/29/13, I received an NFS for $2271.15 from my bank and noticed that on 08/28/13, a withdrawal of $1850.00 processed from my account by HSBC (This was not the agreed amount of 2272.15). I called HSBC customer service to inquire about the lower payment which debit from my account and the status of my account. I was informed that it was because I had partial funds that had not been applied to my account and that my account was in good standing for the month of August as the $1850.00 fulfilled my payment for the month of August. The customer service rep even checked the system to assure I would not receive another attempt to withdraw funds.
On 09/04/13, I received another NFS for $2271.15 from my bank. I again called HSBC customer service to inquiry about attempt to withdraw fund and the status of my account. The customer service rep informed me that she was unsure why it happened and assured me it would not happen again. Again, I was informed that my account was in good standing as she saw the payment of $1850.00 made on 08/28/13, which satisfied my payment for the month of August 2013.
I recently received a grace period notice; I called HSBC customer service twice to inquiry about the notice. I was informed that I did not submit a payment for August and my account was 30 days late. One rep told me the last payment made was in July, the other told me the last payment made was in Aug for $2020. Both reps agreed that a payment of $1850.00 was never made and that my account was never in good standing for the month of August 2013. I called several times to correct any mistakes that might have taken place when the wrong amount of $1850.00 was taken on 08/26/13 from my account.
Reviewed Sept. 12, 2013
I have my mortgage and taxes through HSBC Bank with a fixed mortgage rate that includes property and school taxes. I have had this loan since 2005. Since 2012, they have neglected to pay the taxes for property and school. The consequences of their negligence is foreclosure of my home. Is there any recourse I can take in this matter?
Reviewed Sept. 3, 2013
I have been trying to get a permanent modification for the last three years. HFC or beneficial have been very hard to work with. This past year I lost my full time job and now I'm working part time. I spoke with several people at their offices trying to get through to them that I don't have the income that I had last year. I have yet to have an answer, they have also moved my account to other company's and it's still messed up. I faxed in my information two months ago and nobody knows where it is for my do called modification. I am fed up with them. I'm trying to get help with HUD also. What can I do to get more help on this situation?
Reviewed Sept. 3, 2013
PLEASE DO NOT GO FOR A LOAN WITH HSBC. I was contacted proactively by HSBC for a home loan transfer from my current bank with a promise of a lower interest rate at 9.75%. I went ahead and approved and provided all documents to them. I even went to the extent of going to my previous back twice and clearing off my one loan proactively so the eligibility could be increased. Despite repeated assurances and daily followups, first they said that the interest rate had gone up. I agreed. Then they said that I don't have Khata A - which they knew from day 1 as I had been clear as a crystal in telling them the same. Then they said I was eligible for a lower amount than what I had requested. Even after agreeing for the same, they withdrew the offer and said that I could not get a loan from them.
I think it is an EXCUSE because the interest rates increased and the promotion that they were running was without any processing fees, which now is at 11000 is what prompted them to withdraw the offer. As a consequence, I lost out on other bank offers for the loan transfer, lost out on time, offer and most of all liquid cash which I had used to close one loan.. This is absolutely unprofessional of HSBC and I would not like anyone to go for a loan offer with them for backing down on their commitment and being highly unprofessional...