HSBC Can Kiss My Azz!

[Believe]

I've been posting comments on loansafe.org and loanworkout.org for many months, but I haven't shared many details, because it's the same story as everyone else. After two full years of attempting to get a loan modification from HSBC, I've been repeatedly denied. Also, during those two years, I've sought help from all the politicians, regulatory agencies, and homeowners advocates that I can think of. I attempted one last time to request a modification a few weeks ago. I called them today to find out the status of my request, and I was told it was denied. I then asked to be transferred to customer care (or lack of it, I should say) and I instructed them to discontinue my semi-monthly automatic payments from my bank account. HSBC, you can kiss my azz, because the September payment was the last penny you will receive from me. Not only that, I'm not paying another penny towards my HSBC credit card, either. They can do what they want - kick me out of my house, destroy my credit (who gives a sh!t?), sue me, or throw me in jail. I don't care anymore. At least I'll now be able to afford to pay my utility bills and buy groceries to feed my family. Now I can go out and buy real groceries, like meat, fruits, and vegetables, and the stuff rich people eat. And I can buy my children and grandchildren each a birthday present. I won't have to worry about getting notices from the utility companies any more and juggling funds to avoid disconnection. I'll have the money to pay those bills. HSBC will undoubtedly start calling, but I don't have to answer. If they do get through to me somehow, I will respond with, "F-ck you," and hang up. If it gets too bad, I'll disconnect the telephone. At least I can live somewhat of a normal life for the next several months. We are senior citizens, and between the two of us we work over 100 hours a week just to try to save this house for our family. Besides work, loan modification has consumed my life for the past two years, but those days are over. I'm not willing to live in this hell anymore. HSBC can have the house. I'm no longer participating in their criminal and immoral activities, and they can kiss my azz.

[Evan Bedard]

Hi Believe,

I don't care anymore. At least I'll now be able to afford to pay my utility bills and buy groceries to feed my family. Now I can go out and buy real groceries, like meat, fruits, and vegetables, and the stuff rich people eat. And I can buy my children and grandchildren each a birthday present. I won't have to worry about getting notices from the utility companies any more and juggling funds to avoid disconnection. I'll have the money to pay those bills. HSBC will undoubtedly start calling, but I don't have to answer. If they do get through to me somehow, I will respond with, "F-ck you," and hang up. If it gets too bad, I'll disconnect the telephone. At least I can live somewhat of a normal life for the next several months. We are senior citizens, and between the two of us we work over 100 hours a week just to try to save this house for our family. Besides work, loan modification has consumed my life for the past two years, but those days are over. I'm not willing to live in this hell anymore. HSBC can have the house. I'm no longer participating in their criminal and immoral activities, and they can kiss my azz.

I'm truly sorry to hear this but you need to make the best move for you and your family. Feeding your family and having working utilities is a MUST and without it life would be hell. I do not see why these lenders choose to foreclose a majority of the time instead of just modifying the loan to a more affordable rate.. You may want to just pursue a short sale so you can go through this process in the least harmful way and also start saving money until the home is sold...

[Believe]

I appreciate your kind words, Evan. I'll update my post as new events happen. I don't know that we've ever been able to document a timeline for HSBC here on loansafe, so I'll try to do that to help others. Feel free to move this thread if it should be in the "stories" folder. Thanks again.

[Evan Bedard]

Your welcome Believe and we are all her for your support. Please keep us updated on you happenings.

Good luck and god bless you and your family.

[bloominga]

Believe, my hear goes out to you. I haven't filed my loan mod yet and I'm wondering why this has to be and if there will be a way for me to save our home. We are senior citizens too and I have serious health issues. We have all on this forum worked so hard for our homes and we get this??????

I am so very sorry for you and hope that you will eventually find some peace now that you have made the decision.

I am so MAD!!!! This should NOT be happening!!! I will pray for you and your family.

[Opus09]

Believe,

I've been following your posts here on LoanSafe for quite sometime, as you are one of the few who consistently discuss your experiences with HSBC. It is much appreciated.

We're currently waiting to hear from Beneficial and HFC if our primary mortgage and HELOC modifications will be extended another six months, which would help but what we really need is something permanent, as the stress has really been too much and taking a emotional toll on our family. HSBC has made it perfectly clear in all of our recent conversations that they don't do permanent modifications and they don't participate in any government sponsored programs. Yep, they're azzholes alright.

At this point, we are considering a short sale (if they'll let us), rent for a few years (we can actually rent a much bigger house in our area for significantly less than our current mortgage), build our credit back up and try home ownership again and hopefully do it right this time. Right now this isn't home ownership at all, its a joke.

Looking forward to reading your HSBC timeline.

[Big Booger]

Believe, blessed are you with your childrenand grandchildren beside you - its a shame that you have worked so hard for so long and raked acrossed the coals all to save the home you've been paying on, but hurray for you for deciding what it is you need to do for you and your family and your piece of mind. I hope that the coming days brings you many more blessing, peace and tranquility. There are far greater fates out there than letting the bank have your home back.

[tlbaker74]

I would cancel that monthly withdrawl through your bank. We had to cancel our account and open another because once they have permission to take from it, they don't have to stop.

[Believe]

Evan, Bloom, Opus, Booggs, and TL: thank you very much for your support and valuable suggestions. I am going to take your advice TL and call my bank right away. In regards to my credit card account, I already received a call yesterday from a non-American HSBC representative asking for a $59 payment. I told her I don't have the money to pay it because HSBC won't modify my mortgage. She said, "Well, we have a customer service department to help you with that," like she was revealing a secret. Yea, I know all about their help. For once in my life, I was speechless, but I managed to mutter, "I've already tried that." She then asked if I could pay $16. What the hell? Thirty seconds ago she wanted $59, and now it's only $16. Either way, I don't have it, so I hung up.

[alex098]

Hey guys! Where can I read more about HSBC experience? Sounds scary so far...
I am about to file a HAMP with them, but my loan is owned by Fredie Mac - does it make a difference in their eyes?

[Believe]

Alex, the last I knew HSBC was not participating in any government programs, nor were their loans owned by Freddie Mac. This is news to me. I also read your post on another thread where you asked if it's better to buy and old beater car or a new car while working on a modification. Let me say this - if you are even considering buying a brand new car, then I can just about assure you that your financial hardship will not qualify you for any type of modification at HSBC, or anywhere for that matter.

[nativelasvegan]

Oh Believe. This breaks my heart.
I hope you were not discriminated because of your age?
Wow, I hate to hear your story. It makes me sad. I wish you nothing but the best. If I can do anything, just ask.

[Believe]

Thank you for your kindness, Native. We are all on this journey together. All of us here were discriminated against and taken advantage of in one way or another - some, like us, are older and have limited financial skills. Thank you so much.

[alex098]

Thanks a lot, Believe. As for Fredie Mac owning my loan - they told it to me themselves.

[Melanie702]

Thank you for your kindness, Native. We are all on this journey together. All of us here were discriminated against and taken advantage of in one way or another - some, like us, are older and have limited financial skills. Thank you so much.

Hi, you're absolutely right, we have been discriminated in one way or another. I don't think age has anything to do with it. I'm 35, my husband is 30 and we can't get a modification. These pr!cks are not giving anyone modifications for who knows what reasons. I'm tired of this crap too. Good luck to you and your family. I'm closing my checking account on the weekend with BofA, and I am not going to make another payment on the only credit card I'm paying on. A$$holes!

[Catherine]

Oh Believe I just found this thread. My heart truly goes out to you!! Please know how sorry I am your at this point. I HATE hearing for how hard you tried it will end this way. Hold those babies. They seem to put a smile in my heart when nothing else can. Take care of YOU too, Catherine

[Opus09]

Thanks a lot, Believe. As for Fredie Mac owning my loan - they told it to me themselves.

Alex - I'm curious, who told you HSBC or Freddie Mac?

[Believe]

Hi again, Opus. Have you looked on the Fannie Mae and Freddie Mac web sites for your loan? In addition to talking to HSBC, I also searched for my property address on the FM twins' web sites. You can get an answer there, if you're unable to get an answer from HSBC.

[tc4gold]

HI,

I feel for you but keep fighting, once you stop paying they will most likely start working with you. Pleae don't cuss at them but be really firm, keep good records of every call. I too am going through similar situations, winning on some, not on others. One thing I learned from a friend who used to work for B of A is that once you tell them that you are stopping the automatic payments (Put it in writing) they cannot by law take money out of your account. If they do after you have requested it be stopped they can be fined a lot of money. This goes for the credit card companies also. Keep us posted, our thoughts are with you.

I've been posting comments on loansafe.org and loanworkout.org for many months, but I haven't shared many details, because it's the same story as everyone else. After two full years of attempting to get a loan modification from HSBC, I've been repeatedly denied. Also, during those two years, I've sought help from all the politicians, regulatory agencies, and homeowners advocates that I can think of. I attempted one last time to request a modification a few weeks ago. I called them today to find out the status of my request, and I was told it was denied. I then asked to be transferred to customer care (or lack of it, I should say) and I instructed them to discontinue my semi-monthly automatic payments from my bank account. HSBC, you can kiss my azz, because the September payment was the last penny you will receive from me. Not only that, I'm not paying another penny towards my HSBC credit card, either. They can do what they want - kick me out of my house, destroy my credit (who gives a sh!t?), sue me, or throw me in jail. I don't care anymore. At least I'll now be able to afford to pay my utility bills and buy groceries to feed my family. Now I can go out and buy real groceries, like meat, fruits, and vegetables, and the stuff rich people eat. And I can buy my children and grandchildren each a birthday present. I won't have to worry about getting notices from the utility companies any more and juggling funds to avoid disconnection. I'll have the money to pay those bills. HSBC will undoubtedly start calling, but I don't have to answer. If they do get through to me somehow, I will respond with, "F-ck you," and hang up. If it gets too bad, I'll disconnect the telephone. At least I can live somewhat of a normal life for the next several months. We are senior citizens, and between the two of us we work over 100 hours a week just to try to save this house for our family. Besides work, loan modification has consumed my life for the past two years, but those days are over. I'm not willing to live in this hell anymore. HSBC can have the house. I'm no longer participating in their criminal and immoral activities, and they can kiss my azz.

[syryn22]

Hello Everyone,

I have had three temporary loan modifications with HSBC, the most recent will carry me until 6/2010. I recently learned more about the FHA Streamline refinance. The reason I even started checking out refinance options was because I called HSBC about a month ago to find out if they could make my loan modification permanent, as I have never been late before on the payments (even when the interest rate was 8.74%). The rep I was speaking to basically said the only way to get something permanent is if I refinance. In the past, when I heard this suggestion, I would get upset, because I rationalized that property values have gone down, so how the hell am I going to refinance? Well, I've been checking with a few lenders and I qualify for a streamline at 4.50%, but there's a hitch. I have been told on a few occasions that they cannot do the FHA streamline refinance if I have a current modification. I tried to explain that this mod is temporary, but I actually have to try and get HSBC to lift the modification. Has anyone gone through this before? I would much rather have a fixed rate at 4.50% than to have a 4.25%rate until June of next year, but I'm scared. I'm scared that if I ask HSBC to lift the mod, the refinance may not go through and I'm stuck with a much larger payment again. I need to know if anyone has ever asked HSBC to lift a modification and how for sure is this FHA streamline refinance thing? Any input is greatly appreciated.

[Believe]

tc4gold, thank you for posting to this thread. You made some very helpful suggestions. Prior to the day the ACH payment was to be made, I called my credit union and asked about reversing payment just in case HSBC processes it anyway. She checked with the accounting office, and they agreed to reverse the payment without any cost to me if HSBC sent it through. They also agreed to reverse any overdraft fees that I may incur as a result. Now THAT is the reason we all should be banking with our local banks and credit unions! Much to my surprise, however, HSBC did what I instructed them to do, and did not debit my account. So, I am officially late as of 10/1. I haven't received any calls from HSBC in response to my non-payment.

syryn22, congratulations on your small successes with HSBC! The two temporary modifications I got from them only reduced my payments by $100 per month. Since then, my requests for modification have been denied. I have no experience with asking a lender to lift a modification, but it seems to me that HSBC would be all too happy to oblige you. PLEASE CONFIRM WITH FHA THAT YOU ARE ELIGIBLE FOR A FHA STREAMLINE REFINANCE BEFORE YOU DO ANYTHING ELSE! To be eligible, your current loan must be FHA-insured. Good luck to you!

[Believe]

We were unable to make our 10/1 mortgage payment, and I received the first (of many, I'm sure) "basically a courtesy call" from HSBC today. I instructed him not to call me at work again. So the calls begin.

[mom2jps]

Amen! (this is going to be long but I've been holding it in for a while) We have been dealing with a lot of problems from HSBC too. Have had our mortgage with them since Sept. 2006. Two weeks after getting the mortgage, my husband's place of employment went out of business with little to no warning. We struggled for a few months but managed to pay our mortgage and also try and feed three children and keep the lights on. I do daycare in my home for some of the neighbors and I still had that little bit of income and hubby had unemployment. He was called back to work (he's a union operator) off and on, a few weeks here, a few weeks there. Long story short, we got to a point where we just couldn't keep up. I always tried to stay within the 30days of being late and never got much flack. Last year I was told about a hardship modification and I applied. Easy as cake...no paperwork, etc. Didn't even know I qualified until I happened to call them about a late payment. Our payment went from 1609 to 1262. I was happy, but then my husband wasn't being called to work at all, unemployment ran out (extensions denied) and while the hardship helped and we struggled through it, we couldn't take on the bigger mortgage payment. I was told that as long as we completed the hardship, and we did, that we could reapply for another temp mod. that would be 18mos long. We never qualifed for that. Fast forward to April 2009, we fell behind...struggled continuously. But whenever I would call, and I called a lot, they always told me that it would be ok, they'd work with me. I was "proactive" and those are the people who get the help..blah blah blah. Come June, I was behind for May and they offered a modification again. I applied, got approved again, back to 1262 a month. In the meantime, hubby got a job making only half of what his normal pay is and I've called to see if they could extend out the modification and I get the run around. Some say, yes. Some say, no. Nothing concrete. On Sept. 24th I spoke with Mr. Perry from HSBC who said that he had good news for me, if I could make just one payment then they would defer my past due and it would bring me current, allowing me to finish out the mod. I scheduled that payment, having to stretch it out two weeks to be sure I'd have the money and it was posted on Friday 10/9. On Friday, 10/9 I received a registered letter...A Notice of Right to Cure. I panicked, called HSBC immediately and was told by a Mrs. Cooper that I could disregard the letter, that it is automatically computer generated and that it did not apply to me. I was relieved, while on the phone, I inquired about the deferment (As Mr. Perry told me to call on the day it posted to get details) and Mrs. Cooper put me on hold, came back a few moments later and told me that they put in for the deferment because I now qualified with that posted payment and to call back Wed, 10/14. I called yesterday and was told that 1. I would have to make another payment before I could qualify for a deferment. I told them of me & Mr. Perry's conversation where he told me to follow up and they told me that "I did not qualify for a deferment, they don't know who Mr. Perry is or why he would tell me that"....and that he put into notes that he told me that I would have to make 2 payments". and 2. the letter does apply to us..."no one would tell you to ignore that letter, it is a legal document".

So, now the story is that if we make a payment by November 18th, then I can put in for the deferment. If it goes through fine, if it doesn't then I automatically become due for all arrears of about 5000.00 and foreclosure begins because according to them, I'm been offered the best and only solution they can offer. BS because according to the hfc website, they have "options".

Today, I did housing counseling and the counselor and I did a three way call to HSBC and was told the same thing....the counselor was pretty much amazed at the lack of compassion, but understood it, I guess.

I also called and tape recorded another rep from HSBC who told me that I should ignore the letter I received. YES...got it on tape. So many lies and misleading information that I started to think I was imagining all of it. Not that the tape will mean anything, except that I'm not crazy.

Where do we go from here. Our credit is shot from all of this struggle, HSBC does not participate in any government programs...although for some reason they offer up the HUD hotline and sometimes even tell you to visit makinghomeaffordable.com website. I even asked why they do that if they won't consider participation and was told that "maybe you can get some ideas on what you can do!"

We have three young children...and like I said, our credit is shot....we have no savings or 401k left (even had to take from our children's savings) and do where do we live....rentals are credit checked now and we could never buy another house.

Thanks for letting me vent, I'm new here and I appreciated reading the stuff you wrote about your experience. Atleast I no longer feel alone.

[Believe]

Mom2jps, welcome to the loansafe community, and thank you for posting about your experience with HSBC. That will be very helpful to me and I go through the various stages. That is what this forum is about - sharing stories and ideas so that all of us can keep our homes. To be sure, some of us will lose our homes, but there is some comfort in finding a place where you can discuss all of this without feeling shame. The mainstream media is still sticking by the story that we were all given loans we shouldn't have been given, while we here at loansafe know otherwise. As new developments occur in my experience with HSBC, I'll post new comments to share with you and everyone else. When you get a chance, read some of the other threads and gain as much knowledge as you can. I'm sorry you're going through this struggle.

[jcallanan]

syryn22

The FHA Streamline only applies if you currently have an FHA Loan
FHA has a streamline with out an appraisal where of course no appraisal is needed
alot of banks now have minimum credit score requirements also , 620 or above
Just some things to be aware of

good Luck

[kcbmj8]

Thanks for all your posts about HSBC! We have them and my story is the same. One person tells you one thing ("you've pre-qualified for a loan mod") and then the next person tells you something else...("No, you've been denied for a loan mod.") It's enough to drive you crazy (as mentioned by others!!!!) I think we're at a point where we're ready to walk away too. It KILLS me and I've shed many a tear, but finding this website has reassured me that it's going to be OK and that there are so many normal, hard-working, responsible people who this is happening to.

We've been offered a "forbearance" with the comment that it's the first step to a loan mod and "possibly a permanent loan mod, but there's no guarantee". EXACTLY!!! No guarantee is their way of covering their butts. Reading the HSBC stories on here has been good because I don't want to waste any savings on trying to make payments when nothing is going to happen in the end. I'd rather add to my savings and start rebuilding.

There have been so many times I've had to bite my tongue when the person on the phone makes senseless, incompetent statements. The other day I was discussing with a person from HSBC the fact that my house has dropped over 50% in value and how far underwater we are. His comment to me...."Well, if they went down, don't you think they are going to go back up?" I swear...if I could have, I would have reached thru the phone and slapped him - HARD!! Yes sir, I'm sure they will go back up...in about 20 YEARS!! Maybe we'll break even at that point - UGH!!!

[Believe]

kcbmj8, HSBC has been pretty consistent with me . . . denied, denied, denied. They don't waiver much from that.

I received a call from HSBC last night, and that was the first call since our 15-day grace period ended. He was calling to ask when we would be making a payment, and I told him I don't know and we need a modification. He looked in the system and said he could see that we were denied a modification because there were discrepancies in our expenses. For example, he asked, do you have grocery expenses and a car payment? Those weren't noted in the system, along with other expenses. I don't know why they weren't noted, because I quite clearly noted them on their worksheet, as well as being documented in the bank statements. Whatever! I told him I'd re-send my packet from a month ago to the Vice President of Customer Resolution and ask her to correct the system. He offered to try to get it straightened out over the phone, but I declined. He had just told me he was in collections, loss mitigation, and modifications. In other words, a jack of all trades, but he sounded like a fifth grader. And the games continue . . .

[kcbmj8]

Yep...sounds familiar. We met with a HUD housing counselor today to at least try one more resource before we walk. I don't think it'll do much good, but I figure it's worth a shot if she can get anything for us. She was very helpful and seemed to think she could help us.

She told me that one of the reasons the banks were so stubborn about working with people is because the banks were getting the insurance money for the homes that were being foreclosed on. So they didn't care if the home was foreclosed on b/c they got the money it was worth anyway. In CA, which is where we live, that is HUGE. Houses here in the Bay Area have had HUGE devaluations. I guess now the state is fighting the banks to make sure they don't get that insurance $ and b/c of that, the foreclosures have slowed WAY DOWN. And, banks are starting to work with people. (not necessarily HSBC - but others)

[Believe]

That's very interesting, kcbmj8. In HSBC's case, they received billions of dollars from AIG. So, HSBC is a secondary beneficiary of the massive US bailouts. It sounds like your HUD representative was very helpful. The first HUD representative we talked to told us to take in a renter and increase our income. The second one told us to consider a short sale. Maybe the tide is turning. Hang in there!

[kcbmj8]

Thanks Believe. I hope so, altho I'm not expecting it I'll keep you updated as things happen. I'm interested to see what HSBC will tell our HUD help when she calls to talk with them.

[Believe]

Thanks Believe. I hope so, altho I'm not expecting it I'll keep you updated as things happen. I'm interested to see what HSBC will tell our HUD help when she calls to talk with them.

Yes, please do keep us updated. I, too, am very interested to hear what HSBC tells HUD. Surely they won't give them the same song and dance they give us. We (HSBC victims) don't have the benefit of hearing testimonials from other HSBC victims on this site, because there just aren't that many of us. Why is that? I read articles and complaints about HSBC on another web site almost daily, and the mortgage mess is only a small part of the abuse they reap on Americans every day. There are volumes of complaints about their credit card practices. I don't think I'm allowed to post a link to the web site I'm referring to, but perhaps you could google Household HSBC Watch, or something similar to that, and find it. You won't believe the horror stories. It's also very interesting to read the news articles about the business end of things for HSBC at that same site.

[Believe]

Just a quick update to my mortgage loan nightmare with HSBC Mortgage Services. I received a call from a lady on Saturday, now 37 days past due. She asked if I could make a payment, when could I make a payment, why am I late, etc. I responded with the usual, which they should well know by now. She explained that they had incomplete information when they denied our latest (5th) request for a modification and asked if I would be willing to take a few minutes to go over the figures. Since I was just getting ready to send a letter to the Customer Resolution Dept., I had the figures right in front of me, and I told her that would be fine. She made note of all of our income and expenses and told me to fax them a month's worth of paystubs and bank statements, which I will do. She told me that I can also include a hardship letter if I want to, and other documents that I feel are relevant. What kind of procedure is that? I'm supposed to figure out what is relevant to my request for a loan modification on my own? I have no freakin' idea at this point. She specifically told me NOT to send in another financial worksheet. Interesting. So, I'm going to fax the documents and follow up in a week by telephone, as she instructed. Getting suited up for Round 6 . . .

[Believe]

Received another collection call from HSBC last night. He didn't know we have submitted docs for yet another modification request, but he was able to find the details in the computer after I told him about it. He asked if the lady I talked to on Saturday told me I would need to make a qualifying payment. I told him "no". He told me I'd need to make a qualifying payment, and asked when I can make it. I told him I can't make any type of payment until I get a permanent modification. He said, "Oh! You want a permanent modification? You are only submitted for a 6-month modification." I told him that won't help one bit and explained why. He told me to call them in a week, after they have reviewed my documents. They clearly don't read what we send to them. They just pick out the numbers.

[Believe]

Just a quick update on my HSBC loan. I received a call Saturday morning from another HSBC representative wanting to know when I will pay, as I'm now 45 days past due. She said they'll need a commitment from me as to when and how much I can pay before they'll commit to a modification. What?! How can I commit to a payment or terms when I don't know what they'll be? They won't modify until I pay, and I won't pay until they modify. We're at a stalemate. She told me I MAY be eligible for a temporary 6-month modification, then they'll re-evaluate after 6 months. It could be denied at that time, or extended for 18 months, or be made permanent. I told her I can't and won't make a payment until I have a permanent fixed rate I can afford. She said that HSBC doesn't work that way; their procedure is to offer a 6-month modification, then review the hardship again. I know that's how it works - I've been doing this for over 2 years! And, at the end of the previous two 6-month modifications, I was DENIED! I'm tired of their games, and I told her that HSBC needs to change their policy and offer permanent modifications. She said, "Yes, we do. But, it is what it is." So, even the people at HSBC who are making the calls don't believe in their own programs. I really don't know what more I can do at this point. HSBC has no programs, and our government isn't holding them accountable. "It is what it is." She got that right. Azzholes.

[Opus09]

Stick to your guns, believe. As I said in another thread, they are consistent in their inconsistency. No one it seems, in the whole HSBC-Beneficial-HFC universe, knows what they're talking about.

[Believe]

Hey Opus, thanks for your support. It seems to me that HSBC is in a world all of their own. Does it seem that way to you? There are thousands of people on this forum every day talking about HAMP, etc., and here we are with HSBC - they have no homeowner assistance programs, and their CEO is moving to China at the first of next year. I feel like I would at least have a chance of getting a modification if B of A or Wells Fargo serviced my loan.

[jcallanan]

dealing with the same

went thru my first lod mod

got approved for my second one but they did not bring payments up to date like they said they would

now I just made a payment on the 27th of October and made arrangements for a payment on the 15th customer service rep said payments would be up to date

So on received a letter dated 11/03 Notice of right to cure

but then received a letter on 11/05 saying thank you for my payment scheduled for 11/15 authorized on 11/05

WTF can't get any kind of answer from HSBC

[moretrouble]

Just join the forum. I also have an HELOC , interrest only with HSBC, got mod dwon to 5.25% for 6 months then denied. Original notes was LIBOR+9% (rip-off). Just found out we are under ther water, houst @ 270,000 at most owe first 260,000 and HSBC HELOC 50,000. Will not make payment unless I can get a permanent mod, I will let them foreclose but they won't since they'll be doing first lien holder a favor. We'll see.

[Opus09]

Believe - HSBC is definately in a world of their own. I guess being a UK based bank has it's advantages .

Moretrouble - we're under water approximately $75K for both principle mortgage (Beneficial) and HELOC (HFC). Since they wouldn't approve us for a permanent mod, we contacted an attorney and he is helping us negotiate a short sale of our home. The only positive I can see in all of this is that both debts are under HSBC so may the negotiations will go quickly. We'll rent (we can get a bigger place for less than our current mortgage) take the hit on our credit and try home ownership again in a few years and hopefully do it right. We rue the day we ever signed our papers with these frauds.

[Believe]

Opus, are you still current on your loan payments, or did you stop paying?