Interest only loan.

ComplaintsBanksHSBC Mortgage Services

Complaint

0
Edmund
Country: United States
I'm on a interest only loan since 2006. They will not even consider anything for my family. All they want or has to offer is deed in lieu of foreclosure or short sale. All I told them is I owe $315k just to redo my loan with a fix 30 years term and with a 6 or 6.5%..so I can live in this home. But NO can do from HSBC. Their in house modification is bull [***] if you are already behind on you loan 40% upfront( in my case 22k) and 60% will be tact to back of the loan..Since they didn't take tarp money HSBC don't have to offer any program of help or assistance from government. So as an home owner what is my options.....

Comments

  • 0
    tj
    If the house is worth more than what you owe, refinance with someone else.

    If it's worth less than what you owe, deed in lieu and move on with your life.
    You don't own your house, it's owning you.
  • 0
    J. Sampson
    I am in a situation with HSBC.  They took over my loan a few years ago.  I had to stop paying on my mortgage in July, 2012.  I tried to get help from their company and they told me that my loan didn't qualify for any program, such as the new mortgage help programs.  They offered me a deed in lieu.  Is this my only alternative?

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