HSBC Mortgage Services, is that you Satan?

ComplaintsBanksHSBC Mortgage

Complaint

0
Me
Country: United States
Their mission statement stats that they are customer oriented & there to help, but have been everything but. Our mortgage was sold to them 5 years ago & since then we have had nothing but issues. When we made payments on time, they would call us asking for payments & when we fell behind, they give us a run around. They say they have short or long term options to suit your needs, but you can't get anything past 6 months. They always state that they are not refinancing at this time & we have tried 3 times in the past 3 years. You can never get a straight answer from them. Their are tons of programs to help home owners, but HSBC does not have to comply w/ any???? Something has to be done about HSBC, it is like selling your soul to the devil.

Comments

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  • 0
    tj
    | 4 replies
    Problems with HSBC when you were current indicate they are unprofessional, but it sounds like that was in the past.  You are implying that you are under current financial stress, and perhaps not current.

    If your home is underwater, there may not be much you can do to refinance.  Most of the programs you have heard of have been ineffective, and if you have heard any companies advertising to "help", most of them are just scams.  The only exception might be some non-profit financial advisors in some areas.

    The first thing you need to look at is your cash flow, to see if your current financial situation is sustainable until things improve.

    The second thing to look at is your home's market value relative to the loan balance, to see if it is even practical to refinance, and if so, what rate you could refinance into and whether that is within your cash flow capabilities.  There is no point to going down this path if you don't improve your financial position and avoid foreclosure.

    If you can't get anything out of HSBC, you might also run the situation by a competent and honest mortgage broker who will give you a straight answer.  Try to get a referal from other professionals you may know, or who others recommend.
    • 0
      Admin - hsbc_mortgage_nightmare@yahoo.c replies to tj
      Hello,

      Please consider joining the following group to gain political attention on HSBC practices:
      http://finance.groups.yahoo.com/group/HSBC_mortgage_nightmare/

      As a result we will be able:
      * to drive-away potential customers from this dangerous institution,
      * to convince citizens to support us through cutting their HSBC credit card
      * to gain media coverage,
      * to gain elected politicians support (especially in this electoral year),
      * to have HSBC management listen to us and change our loans.
      All together, we can.
    • 0
      Valorie m replies to tj
      | 2 replies
      HSBC is trying to do it to us right now we have 4 or 5 years left on our morg never late all the sudden we get a foreclosure letter in the mail that we r three months behind what happened to a letter for the first or second month we called collections number and cuts service both take you to a so called office in Milan they r rehearsed can't speak English well can't help. We faxes returned checks for the last 4 months that HSBC had cashed to show we r current 2times to 2 diffent fax numbers thet gave us we got confirmation. But according to them they did not get them they are at our door with foreclosure notices. Sending them as well and advised us not to make any more payments as they r foreclosing.   What a f-------- joke only in America
      • 0
        tj replies to Valorie m
        | 1 reply
        You will want to file a RESPA dispute to force verification of the "lost" payments, and also a HUD complaint.

        Get in touch with a good real estate attorney.
        If they are "losing" your payments, you could find yourself foreclosed on before you even know it.
        RESPA regs might allow you to recover attorney costs, but that's a question for your attorney.
        • 0
          Research For Yourslef replies to tj
          That's ridiculous. If they made payments and have the cancelled checks, they cannot be foreclosed on. It is a genuine fact at issue.
  • 0
    Jane Dow
    I think no one cares to help anyone everything is greedy and greedier. We bought a home five years ago in the desert part of California. We were first time home owners and we toke out from my husband 401k which we are still paying. Not knowing about the terms and different mortgage we got into an adjustable rate after one year our interest rate would change. We asked for a hold off so the interest rate doesn’t change which was giving to us.  The following year I lost my job and we called HSBC to help we where giving the round around. I found another job and called then again they refuse to help us and told us the just have payment plan and that they are not doing any Obama plan. That was there answer but to wait another month or so and see what else they would have. So we did wait they did not for us they just wanted to do payment plan then after six months later we can do another payment plan. There thing was that they had to see if we where commented could you believe that. We just walked from the house never refi and never toke any money from that property. We lose money and then the bank sold it for 90,000.00 and wanted me to keep it for 255,000.00 for what we paid for. What sense those that make to anyone so let the homeowner walk then sell the property for nothing. I had two credit cards from them I am hanging on a string and had to make hard decisions. Do I pay my credit cards that your one day late they are raising the credit to it’s limit or stop eating so I stopped paying the credit cards I don’t have it and for those who say I am wrong. To hell to you is what I say you don’t live in my home and you don’t know what we have gone through.
  • 0
    liz bryant
    | 1 reply
    I have had a morgage with hsbc for about 5 years now and my payment is 606.60 a month well I just got off the phone to them and they are taking 751.35 out of my account and claim that they are caring insurance on my house I already have home insurance and have for 29 years and they are giving me a run around on giving me back my 144.75 that they took that was to much I am going to have my bank investigate and get my money back I ran into a the same problem with my truck to start with I owed 42000.00 for my truck now that it is down to onlt 7200.00 they are trying to give me a hard time I think they need to go back were they came from you no they are from the phillipeens not the good old USA
    • 0
      [***] HSBC replies to liz bryant
      They are greedy chinese based from Hongkong, not phillipeens.
  • 0
    Anna Fernandes
    HSBC would rather auction off my home since I've been laid off instead of working with me on a loan modification. Two of my neighbors who are in the same exact position were able to get a loan mod with their lender BofA. HSBC could care less about trying to help out anyone in need!
  • 0
    Pam Higbie
    | 1 reply
    I bet there are enough of us who have mortgages with these "people" and are tired of the catch phrases "I understand your concern" and "we are trying to help you" to start a class action suit and get some recompense for all the aggravation and harassment we've had to endure  If there is a lawyer out there who wants to do this and take his fee from any monies we obtain, I'm in!!!!!
    • 0
      Rick replies to Pam Higbie
      We have been trying for 7 years to refinanace to get off our arm loan.  Being self employed we was not easy to go to another institution so this is why we stayed with HSBC.  In December 22nd, 2009 I was in a terrible semi-car accident, a brother and sister were killed causing me to miss alot of work for medical treatment.  This caused us to get behind.  Hsbc promised they would work with us.  We started to get back on our feet andthey said they would put all past due premiums on the back of our loan. At that time we started making the payments and everyday they harrassed us to let us know we were behind again.  Stating we did not make our payments which we had been doing.  We asked where these paymentas were going and they could not give us an answer.Since then we have discovered a investor that would pay HSBC market value of our home and pay it in full and we then would be paying the investor.  We are 140k upside down on our home and you would think HSBC would snap up on an offer like this.  We have contacted, faxed etc. this offer and we still have not heard a word.  We want so desperately to get allof us mortgage holders together and get a good attorney on a contingent basis and go after them.  This company has no right to be doing buisness in the United States of America.
  • 0
    Pam
    | 2 replies
    I have had 4 modification loans with HSBC and submitted paperwork in an application for my 5th which they received 6/1/11  They make me file every 6 months  They have been jerking around since 6/1/11 for the modification loan and since January '11 for another matter that is their error!!  They are working on the premise that they have all the power and do what they want - I am working on the fact that I don't really care if they foreclose on the hovel I live in  If every one - or even 25% of the people who are having a problem either walked away from their houses or told them to go ahead and foreclose we would bring them to their knees  I told one of the numerous idiots I spoke with to foreclose (I told him that word was in one of the letters I received, second paragraph as a threat) - to bring it on I was ready and willing to go to court - he backed right up and told me that was the last thing they wanted to do  Our problem is we don't present a united front and they are able to pressure and intimidate us on a one to one basis  With me I JUST DON'T CARE!!!!
    • 0
      Imnotpaying replies to Pam
      | 1 reply
      your right they have refused to work with me-the result no payments for almost 3 years.I now have a lawyer and they jerk them around also.They still call and say you owe $60,000 can you pay that today?.They are and always will be a bunch of idiots/crooks.I would certainly join a class action lawsuit against HSBC
      • 0
        Karie replies to Imnotpaying
        They haven't foreclosed in 3 years?
  • 0
    Sarah Robinson
    I'm in a similar situation. I had fraud on my account and my mortgage payment is due on the 27th but they are saying the funds are on hold until the 29th so I will have a deliquency note on my file. Firstly I'M THE CUSTOMER and this was THEIR mistake. A breech in security on their behalf because their due diligence didn't catch it should not inconvenience me or have my reputation compromised. I have friends that bank with HSBC also and they have been offered options however NOTHING has been offered to me at all. Funny thing is, they say I cannot file a complaint until the funds drop in one branch then in the other they say I can. I live in Bermuda and the branches are LITERALLY across the street from each other and they can't be consistent?! Unfortunatley we do not have a whole heap of options with bank's here so I'm stuck either way and to transfer my mortgage to another instituation I'd have to come up with 1% - on a mortgage over $900,000 - it's not going to happen!! Remember the banks etc. are the reason why the world is the way it is today!
  • 0
    Deb Besh - December 8 2011
    | 2 replies
    I too have had a Mortgage with HSBC for 7 out of 17 years I have owned my home - lost my job and got behind - they remodified my loan statig that I do not have any equity (after 17 years?) My payments went up a $1000.00 a month so I decided to fourclose on my house - they have killed my credit already anyway - the sherrif sale has been postponed for almost a year now and with winter coming and two kids I decided to rent a house and let them just take it.  By the way I have had 3 different companies including HUD try to buy my mortgage from HSBC and they would not release it - so I am out $4,000.00 for trying to get help.  Now HSBC wants to do a DIL but now I am finding out that my doing this will be considered income and I will have to pay the taxes.  I can't get away from them they are like leaches that won't get off my skin.  I wish I would of been smarter and sold my house when the got my loan.  50 years old - two kids - no credit - they have won I guess.
    • 0
      Admin - hsbc_mortgage_nightmare@yahoo.c replies to Deb Besh - December 8 2011
      | 1 reply
      Please consider joining the following group to gain political attention on HSBC practices:
      http://finance.groups.yahoo.com/group/HSBC_mortgage_nightmare/

      As a result we will be able:
      * to drive-away potential customers from this dangerous institution,
      * to convince citizens to support us through cutting their HSBC credit card
      * to gain media coverage,
      * to gain elected politicians support (especially in this electoral year),
      * to have HSBC management listen to us and change our loans.
      All together, we can.
      • 0
        We are in a similar situation I just received a letter that they were going to start a motion for relief of stay I contacted them and asked for a modification of my loan and they took information they asked for and I'm suppose to fax them my last 2 pay stubs. I've been asking them to modify my loan for the longest since I have a high interests rate and they have told me they can't. my wife lost her job in 2012 and we had to file for bankruptcy, and I asked them to modify and they continue to tell me that I don't qualify for a modification, just recently my son had a medical condition while in college I didn't make several payments so I can go and see him and pay his tuition, all of this happened due to them not trying to help me oh and by the way I'm in the military service also and they wont help me they have a military service line and they ask you to fax your orders to them in which I have and they have done nothing for me. I'm in need of some help here because I really don't want to lose my house that I have worked so hard to get. Thank you
  • 0
    Julie
    | 1 reply
    I have been trying to get HSBC to remodify my loan since 11/11. Since then I have submitted and resubmitted the information and every time I do I am told they need "additional" information. This last time I was told Marva Libit ext.3154 was handling my case and they would direct me to her. Of course, I got her voicemail. I left a message with her and asked for a call back. Of course, no call back. I spoke with Ms. McCoy last time and clearly asked her if there was ANYTHING else they needed as everytime I had sent information to them they always turn around and ask for something more. I was told NOTHING else was needed after I send this last information to her. Then a week later I get a call, answer it as it was HSBC on caller ID, complete STATIC on the other end. No one ever called back so I called them just to find out they needed "additional information" Go FIGURE! I was not surprised of course, they are the biggest joke of a company there is in the US. I would NOT recommend them to anyone. What a complete failure! Not impressed, cannot wait to get a different company to work with me. They are a total JOKE!!!!!
    • 0
      Admin - hsbc_mortgage_nightmare@yahoo.c replies to Julie
      Please consider joining the following group to gain political attention on HSBC practices:
      http://finance.groups.yahoo.com/group/HSBC_mortgage_nightmare/

      As a result we will be able:
      * to drive-away potential customers from this dangerous institution,
      * to convince citizens to support us through cutting their HSBC credit card
      * to gain media coverage,
      * to gain elected politicians support (especially in this electoral year),
      * to have HSBC management listen to us and change our loans.
      All together, we can.
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