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HSBC joins Bank of America and J.P. Morgan Chase among major U.S.
lenders who have been forced to suspend foreclosures.
After a joint review by the Office of the Comptroller of the Currency
and Federal Reserve, Europe’s biggest bank, HSBC Holdings has
suspended foreclosures in the United States pending the correction of
deficiencies in the processing, preparation and signing of documents
supporting their foreclosures.
In its annual report, HSBC Bank USA stated “We have suspended
foreclosures until such time as we have substantially addressed noted
deficiencies in our processes.”
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After doing a stipulaion agreement with HSBC for 6 months and making all the payments, I then did a loan modification with them. They told me my payment would be about the same as what it was in the stipulation agreement. When I received the modification papers it was about the same. However, I got a letter a couple weeks later telling me that my payment was going to be substantially more due to misc. charges. How could they do that? If my budget that they had me submit stated what I could afford to pay, and they had my financial information, how did they think I was going to be able to come up with substantially more every month? I went to a housing specialist who told me to make the payment that was stated in the modification document. So I did. HSBC charged me late fees and interest on the difference and raised my payment again. They called me every day and I had to explain the situation. Then they would call me the next day and it would start all over. It was like one hand didn’t know what the other one was doing. I asked them if there were notes on my file they could read and I asked them to stop calling me every day. I told them I was making the payment I agreed to. It did not matter to them, they started foreclosure proceedings again. It went to sheriff’s sale in Nov. 2010 and HSBC bid on it and put a down paymet on it, but they have not paid it off (5 months later). Since the house is still in my name and they have stopped foreclosure proceedings, what can I do to get my situation reviewed? I really want my house back. I have lived there since 1990.
HSBC SUCKS! No one should pay them anything! They laugh at the law and screw good people when it comes to modifications.Maybe when enough people get screwed by HSBC They will be forced to follow the law.
I paid the “trial payments” that was supposed to be for three months, to BOA. It ended up being almost eight, not including all the lost paperwork re-sending. Lol. Sound Familiar? Then I had to call the HOPE program because they said we didn’t qualify, which we had filed ch. 7 so they couldn’t collect from us unless they had good intentions which they claimed they had, and that we did qualify. After re-sending the paper work a couple of times. We were sent a letter on a weekly basis saying they never got our paper work and the three bosses would never return my calls. I left a nasty message and emptied my account with them for the most part without canceling it. A month and a half later not only did we find out another bank had taken over due to a law suit, but we got our paper work. In the same week we got a lost paper work letter too. The offer was for us to send over 1200 upfront, our new payment was over 1584.00, higher than our last payment, and to top it all off we now owed 25,000 more on our house with interest. So our house is worth 177,000, we would owe 224,000, and the houses have been going for about 100,000 or even less. This one needs lot’s of work so I’m thinking, 64-84. My husband never finished the kitchen floor, the living room floor or put back on the molding when he lost his job. We just ran out of money. Plus the kitchen was in disrepair. It’s not like we’re going to put money into something we were going to lose. I’ve been in and out of the hospital with a total of 4 surgeries and 3 procedures. Had gotten so sick I thought for sure this was it when I was down to 90lbs. I’m still not sure I’ll be here in five years. I can’t just move out in 90 days. I don’t know if medicare can help me if I need longer if I’m sick.
hsbc told me they couldnt help me unless i was at least 3 months behind.when i was 3n months behiond they wouldnt help,then when i tried to make partial payments to keep my home they said thery wouldnt take partial payments,they wanted the whole 3 months plus a bunch of charges.and when i first got the loan the3y had me have 2 people sign a paper stateing they rente3d rooms to qualify for the mortgage.and they were supposed to refi me in 2 years,which theybnwouldnt do.then they wouldnt modify.i couldnt refi with anyplace becfause the house dropped 40.000 ion value.so i lost my home i bought in 1993.i dont know why they wont give me the house back for what they are goiung to sell it for.the crooks should all be arrested!!!
Dennis… just curious… what state was your property located? How long was the process before it actually foreclosed? During any of the court precedings was the judge pushing to try to get them to work something out with you?
I go to court on Tuesday, 10/25/11. I have been scammed twice by loan modification companies as well as HSBC. They sent me a letter through my 1st loan mod company and stated they would “cut my monthly payment in half” but I would have to come up with $10,000 first. It ended up being $10,900 and after I Western Unioned the money, 5 days later they sent me a letter saying their “investors” reconsidered and pulled the deal off the table. I’m tired but will fight forever. I am not a lawyer and can’t afford one so I’m doing this myself. I’m in California so here I go. I just won’t them to be held to the same standard as everyone else and I will not stop until that happens. I do believe that one vioce can be heard, that will be mine.
my house was forclosed on in may of this year. Hsbc promised me that if i cught the loan up they would fix my rate to sometimg we could live with. i caught it up 3 different times i was given a 6 mo modifaction at the end of the 6 months my new payment was bigger than it was 6 mo ago. i applied for another mod but papers were lost they never got them, ect. this went on till i was behind again then guess what i was told u have to catch this loan up then we can fix it to someting you can live with. they are liars and thieves they sucked every penny they could from me then took my house. is thetre anything i can do?
I HATE THIS UN-AMERICAN BANK !!!
THIS BANK DOES NOT PLAY BY THE LAWS & RULES BECAUSE THEY ARE NOT AMERICAN OWNED PEOPLE !!!
HSBC raised my mtg payment for escrow $300 PER MONTH !! I IMMEDIATELY CALLED like WTF she said escrow raise for current raise in taxes (OK) but then they needed $1500 in ADDITION TO BE THE THE WHAT IF. Dumb woman says well to oliviate the raise in mtg then pay it up front I just went bankrupt (closed mo B4) so I had no money to…. JUST PAY UP FRONT !!! She put me in for a 2 yr escrow payoff they renegged 4 mos later& went back to original $300 raised payment (now I’m 2 months behind on mtg & I don’t want to talk/deal with them !!!
I NEVER went to them for my mtg & yet they bought me out 2x (original & my re-fi )
I was a RE AS-broker/agent I had the 1st graduate out of their 1st TIME HOMEOWNER PROGRAM based only in Nyack, NY ( Rockland County)
long story as quick as possible they FORECLOSED (start to finish 8mos) on this couple. Hubby was Disabled had emphysema & on oxygen 24/7 wife had hour cut at Social Service job her daughter returned pregnant they put this family in street end of Oct 2010 in the COLD going into the winter with a 2 yr old BABY !!! HSBC would not do anything to compromise/help & renegged on deal (like above) what little bone they threw out GET HSBC OUT OF AMERICA !!!!!!!!!!!!!!!!!!!!!!!!! SPREAD THE WORD
Close/transfer you bank accounts SUPPORT YOUR AMERICAN HERITAGE !!!