Comments on: News for People Who Have HSBC as a Lender http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/ - Free Mortgage, Auto and Student loan Calculators by LoanWorkout.org Wed, 28 Mar 2012 18:33:33 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Bob http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-19399 Bob Tue, 26 Jan 2010 22:17:21 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-19399 2000 got the house. 2004 refi with Ameriquest. Then HSBC sent letter to us they purchased the loan and is servicing since then. HSBC is a royal pain...and a master of misinformation... Now that we are requesting loan modification, they are claiming that my lender is private and will not further modify may loan.. Told them that what they gave me is not a modification, but only an instruction from them. We never signed any written agreement of the modification since we do not agree with this direction so this is not suppose for be binding. They gave us temporary 6 months 5.25% that will knock down about $80.00 off our original monthly payment...Wow!!! not even enough to buy my medicine and sanitary napkins!!! They are insisting they can not do anything... now my house is in default recorded in 11-25-09 and tentatively by 2-25-10 is the sale date. HELP!!! Thanks a mil! Bob 2000 got the house. 2004 refi with Ameriquest. Then HSBC sent letter to us they purchased the loan and is servicing since then. HSBC is a royal pain…and a master of misinformation…

Now that we are requesting loan modification, they are claiming that my lender is private and will not further modify may loan.. Told them that what they gave me is not a modification, but only an instruction from them. We never signed any written agreement of the modification since we do not agree with this direction so this is not suppose for be binding. They gave us temporary 6 months 5.25% that will knock down about $80.00 off our original monthly payment…Wow!!! not even enough to buy my medicine and sanitary napkins!!!

They are insisting they can not do anything… now my house is in default recorded in 11-25-09 and tentatively by 2-25-10 is the sale date. HELP!!!

Thanks a mil!
Bob

]]> By: Anonymous http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-14731 Anonymous Fri, 15 May 2009 02:09:04 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-14731 I used to work for HSBC Loss mitigation dept and can pretty much guarantee an HSBC loan modification. All I used to do is deal with modifications. I have since left and started my own modification company. If you want to contact me you can reach me at 800 975 3198 x 510. Trust me they don't care about their borrowers as much as they say when you call. They coach employees on how to deal with you physcologiacally and how to acknowledge you and deal with your emotions rather than bend over backwards to help you. I used to work for HSBC Loss mitigation dept and can pretty much guarantee an HSBC loan modification. All I used to do is deal with modifications. I have since left and started my own modification company. If you want to contact me you can reach me at 800 975 3198 x 510. Trust me they don’t care about their borrowers as much as they say when you call. They coach employees on how to deal with you physcologiacally and how to acknowledge you and deal with your emotions rather than bend over backwards to help you.

]]> By: Henri jean http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-14610 Henri jean Fri, 08 May 2009 16:03:07 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-14610 Instead of help those websites will make you more confuse ,than before .Too many predatory websites. Instead of help those websites will make you more confuse ,than before .Too many predatory websites.

]]> By: Henri jean http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-14609 Henri jean Fri, 08 May 2009 15:52:08 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-14609 it is just to confusing to find useful informations . it is just to confusing to find useful informations .

]]> By: SICK AND TIRED http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-14598 SICK AND TIRED Fri, 08 May 2009 01:49:57 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-14598 HSBC is not part of the bail out programs as other banks. What the government has forced most banks to do HSBC was already doing. We all get into financial difficulties however don't wait until your so far behind before you request help. HSBC sends letters lending offering a helping hand...many letters are ignored..most people state they never receive them or just toss it aside and never open the mail. HSBC lowers interest rates without people's request. Every company has departments that have purposes and speaking directly to people you may want to is not at your discretion. The economy is bad... not just to you, not just your state and not just in America. HSBC is a global company so applications are received by the thousands. Applications are received from people who are unemployeed, spouses have died to people that make over 250,000 a year and still want a modification ...all are reviewed!!!! Documentation is minumal...non required if over 30 days past due past...taking your word. Even after approving the modification customers are called to inform and approval letters are sent out but most people don't find out...why??? your too busy trying to avoid the calls. Loan modifications are done to help save your home not reduce your mortgage payments so you can drive your fancy cars, go on your vactions and pay your credit card debt..Your mortgage should be your first priorty not your last... people are jumping on the bag wagon and no one is paying their mortgages because what the neighbor told you...the neighbor wasn't there when you signed your loan papers. Stop bashing the mortgage company's when most of you signed loans for big houses that you really couldn't afford anyway...you want to live outside your means, walk away with high intrest rate loans and then blame the mortgage company ...remember when you point one finger four are pointing back at you. HSBC is not part of the bail out programs as other banks. What the government has forced most banks to do HSBC was already doing. We all get into financial difficulties however don’t wait until your so far behind before you request help. HSBC sends letters lending offering a helping hand…many letters are ignored..most people state they never receive them or just toss it aside and never open the mail. HSBC lowers interest rates without people’s request. Every company has departments that have purposes and speaking directly to people you may want to is not at your discretion. The economy is bad… not just to you, not just your state and not just in America. HSBC is a global company so applications are received by the thousands. Applications are received from people who are unemployeed, spouses have died to people that make over 250,000 a year and still want a modification …all are reviewed!!!! Documentation is minumal…non required if over 30 days past due past…taking your word. Even after approving the modification customers are called to inform and approval letters are sent out but most people don’t find out…why??? your too busy trying to avoid the calls. Loan modifications are done to help save your home not reduce your mortgage payments so you can drive your fancy cars, go on your vactions and pay your credit card debt..Your mortgage should be your first priorty not your last… people are jumping on the bag wagon and no one is paying their mortgages because what the neighbor told you…the neighbor wasn’t there when you signed your loan papers. Stop bashing the mortgage company’s when most of you signed loans for big houses that you really couldn’t afford anyway…you want to live outside your means, walk away with high intrest rate loans and then blame the mortgage company …remember when you point one finger four are pointing back at you.

]]> By: Barbara http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-13397 Barbara Thu, 26 Mar 2009 18:36:45 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-13397 I have been trying to get a loan modification with HSBC and they keep saying they will help. Talk me into doing anything to keep current and say it is in my best interest but then they do nothing. I have credit card debt of 35,000 using cards to pay other bills so I can keep my mortgage. I now have no choice but to default. I owe more than the house is worth. I have been trying to get a loan modification with HSBC and they keep saying they will help. Talk me into doing anything to keep current and say it is in my best interest but then they do nothing. I have credit card debt of 35,000 using cards to pay other bills so I can keep my mortgage. I now have no choice but to default. I owe more than the house is worth.

]]> By: Kay http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-6266 Kay Thu, 15 May 2008 23:53:00 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-6266 HSBC will lose money if you lose your home that is not what they want to happen. However, the terms of the ARM loans are disclosed to the customer. We are talking about subprime lending here, meaning you have bad credit feel lucky they gave you a home loan at all. HSBC will work with you if you work with them! How can call your creditor and say help me because soon I am not going to be able to make my payments at all? That's not how the world works if you have a loan you have to pay it back no matter what happens to you unless it is insured, which is something HSBC offers to its customers when they open a loan. If you lose your job, go back to school, get in an accident, get sick whatever - you still have to pay your bills. The point is, it's better to send them something then nothing at all. Even if it does not meet the minimum. HSBC will lose money if you lose your home that is not what they want to happen.
However, the terms of the ARM loans are disclosed to the customer. We are talking about subprime lending here, meaning you have bad credit feel lucky they gave you a home loan at all.
HSBC will work with you if you work with them!
How can call your creditor and say help me because soon I am not going to be able to make my payments at all? That’s not how the world works if you have a loan you have to pay it back no matter what happens to you unless it is insured, which is something HSBC offers to its customers when they open a loan.
If you lose your job, go back to school, get in an accident, get sick whatever – you still have to pay your bills.
The point is, it’s better to send them something then nothing at all. Even if it does not meet the minimum.

]]> By: Bill http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-6267 Bill Fri, 11 Apr 2008 13:19:54 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-6267 HSBC Loan Modifications are a scam to collect more money from you prior to forclosure!!!! Lost my job and got behind. Called them and tey agreed to work with me however would need a minimum $1000.00 check by phone to qualify..agreed "verbally" for the payment to be 1000-1200 for 6 months. Got the letter in the mail and it was 1950.00 per month...leaving us with $500.00 per month to pay other bills and eat?????? Couldn't do it....they called again and offered to hold off on forclosure if we could pay another $1000.00, and they would "come up with a better plan"..we did and they didn't! This is now April 11...sale date may 5....another offer....pay 3k stop forclosure...and 5 year plan at 1162.00/month? Not bad...send me the papers!!! never got them! called and it was now $1500/mo.....glad I waited and did no more cheks by phone!!!!!....GET IT IN WRITING!!! They just want to get as much $$$$$$ as possable before they take your home!! Sad, but true!!! They lie!!!! AND!!! This was their loan modification department doing this!!!!!! HSBC Loan Modifications are a scam to collect more money from you prior to forclosure!!!! Lost my job and got behind. Called them and tey agreed to work with me however would need a minimum $1000.00 check by phone to qualify..agreed “verbally” for the payment to be 1000-1200 for 6 months. Got the letter in the mail and it was 1950.00 per month…leaving us with $500.00 per month to pay other bills and eat?????? Couldn’t do it….they called again and offered to hold off on forclosure if we could pay another $1000.00, and they would “come up with a better plan”..we did and they didn’t! This is now April 11…sale date may 5….another offer….pay 3k stop forclosure…and 5 year plan at 1162.00/month? Not bad…send me the papers!!! never got them! called and it was now $1500/mo…..glad I waited and did no more cheks by phone!!!!!….GET IT IN WRITING!!! They just want to get as much $$$$$$ as possable before they take your home!! Sad, but true!!! They lie!!!! AND!!! This was their loan modification department doing this!!!!!!

]]> By: esther http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-6265 esther Thu, 07 Feb 2008 23:39:40 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-6265 I think the problem doesn't lie in people taking out mortgages that they can afford, it's the fact that ARM rates adjust to a preset amount with any lender...typically 3 full percentage points on the first round, and an additional 3 percent about a year later. When homeowners attempt to refinance their home to get out of this "teaser rate". they are finding that their home's appraisal is coming in significantly lower than the amount of financing they need. This means you're either stuck with the original mortgage and ridculous rate increase, or you lose your house. I personally worked wth HFC for a hardship program in which my interest rate dropped 4% for 6 months, saving me over $3,500 during the 6 month period. This saving is paying for our increased property tax...which skyrocketed due to all of the homes in the area that have been foreclosed upon, thus no property taxes were paid to this little New Hampshire town that basically has no other income for schools, programs, etc. than property taxes. Might I recommend to anyone having difficulties contacting their lender to try ACORN. If that doesn't work, go through the feds at www.hud.gov. If there's anything that a mortgage company doesn't want more than your house, it's a bad rep with the feds.... I think the problem doesn’t lie in people taking out mortgages that they can afford, it’s the fact that ARM rates adjust to a preset amount with any lender…typically 3 full percentage points on the first round, and an additional 3 percent about a year later. When homeowners attempt to refinance their home to get out of this “teaser rate”. they are finding that their home’s appraisal is coming in significantly lower than the amount of financing they need. This means you’re either stuck with the original mortgage and ridculous rate increase, or you lose your house.

I personally worked wth HFC for a hardship program in which my interest rate dropped 4% for 6 months, saving me over $3,500 during the 6 month period. This saving is paying for our increased property tax…which skyrocketed due to all of the homes in the area that have been foreclosed upon, thus no property taxes were paid to this little New Hampshire town that basically has no other income for schools, programs, etc. than property taxes.

Might I recommend to anyone having difficulties contacting their lender to try ACORN. If that doesn’t work, go through the feds at http://www.hud.gov. If there’s anything that a mortgage company doesn’t want more than your house, it’s a bad rep with the feds….

]]> By: Joe http://loanworkout.org/2007/08/news-for-people-who-have-hsbc-as-a-lender/#comment-6264 Joe Wed, 16 Jan 2008 22:39:33 +0000 http://loanworkout.org/2007/08/03/news-for-people-who-have-hsbc-as-a-lender/#comment-6264 How about taking out mortgages that you can afford, rather than breaching the contract that you signed with your lender and complaining about the repercussions? How about taking out mortgages that you can afford, rather than breaching the contract that you signed with your lender and complaining about the repercussions?

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