Reaffirmation Modification Agreement---HSBC

[sjungman]

I have read many threads here but I am very confused on what to do next. I have been trying for months to get a modification through HSBC. I was hoping to accomplish that and then file bankruptcy, unless my husbands job situation changed. We faced many, many issues with HSBC losing paperwork and other problems and finally had to go ahead and file bankruptcy--final on Friday 7/27/2012. Our number one priority has always been to save our home. We do not want to walk away. We would reaffirm, but we are behind on payments. HSBC has verbally offered a minimal reduction if we reaffirm. We are scared and don't want to lose our home. In order for us to honor the reaffirmation, we need our account to be changed to a current status and we would pick up the payments they offered. The problem is, how can we be sure they will follow through with making our account current if we sign the reaffirmation agreement? They say they won't modify unless we do, but we can't sign unless we know they will follow through.

Help please!

[troubleinriverside]

I woulde't trust HSBC. They are notorious for not offering permenant mods. Most likely they will get you to reaffirm, and then not offer a mod, which now leaves you on the hook legally for a deficiency judgement if they foreclose. BK is your ticket to be debt free. It is never a good idea to reaffirm a loan

[Evan Bedard]

HSBC has verbally offered a minimal reduction if we reaffirm. We are scared and don't want to lose our home. In order for us to honor the reaffirmation, we need our account to be changed to a current status and we would pick up the payments they offered. The problem is, how can we be sure they will follow through with making our account current if we sign the reaffirmation agreement? They say they won't modify unless we do, but we can't sign unless we know they will follow through.

I definitely agree with the member above, HSBC is extremely difficult to work with and they hardly ever provide permanent modifications to borrowers. If you truly cannot afford your home I would not bet on HSBC to modify the loan to an affordable amount.. Personally I would not agree to reaffirm the mortgage because in actuality, lenders modify mortgages all the time that have not be reaffirmed just as they do to those who did reaffirm after BK.. This should have no affect on whether or not they agree to modify the loan.

[sjungman]

We did not reaffirm the loan. We fell further behind because they would not accept partial payments. HSBC moved ahead with a sale date. We got them to reinstate our loan by making a one time payment of $9000. We paid that at the end of December. They were still reviewing the modification. Our loan now shows to be current, but they just denied the modification because of the past due payments being put at the end of the loan. They say we have to wait six months to reapply. Nothing in our income has changed, we still can't afford the payment.

I have been looking for contact numbers for HSBC. I feel like I am always talking to a robot--you get the same answers no matter what. Is there anyway to speak to someone at the next level?

Thanks!

[Evan Bedard]

We paid that at the end of December. They were still reviewing the modification. Our loan now shows to be current, but they just denied the modification because of the past due payments being put at the end of the loan. They say we have to wait six months to reapply. Nothing in our income has changed, we still can't afford the payment.

I have been looking for contact numbers for HSBC. I feel like I am always talking to a robot--you get the same answers no matter what. Is there anyway to speak to someone at the next level

I'm glad to hear you were able to bring your account. From my understanding you should be able to apply for a modification immediately and should not be required to wait another 6 months. I'll try to locate more but here are a couple numbers posted from other members here in the forum.

Default Resolution Team (800) 338-6441

(888) 648-3124 Loss Mit

[evytucker]

We did not reaffirm the loan. We fell further behind because they would not accept partial payments. HSBC moved ahead with a sale date. We got them to reinstate our loan by making a one time payment of $9000. We paid that at the end of December. They were still reviewing the modification. Our loan now shows to be current, but they just denied the modification because of the past due payments being put at the end of the loan. They say we have to wait six months to reapply. Nothing in our income has changed, we still can't afford the payment.

I have been looking for contact numbers for HSBC. I feel like I am always talking to a robot--you get the same answers no matter what. Is there anyway to speak to someone at the next level?

Thanks!

what's GOING ON WITH YOU NOW.... I AM IN A SIMILAR BOAT WITH A TRIAL MOD FOR 3 MTHS ENDING IN JUNE I have never been late....

[sjungman]

We are back in the same crazy cycle of sending documents that they can never seem to find!
We have never been able to even get a trial modification. I wish I knew how to get that far. Any suggestions?

I also read in another thread about HSBC offering some type of workshops. The one I read about was in New Jersey, which is too far for me. Maybe there will be more.

[evytucker]

We are back in the same crazy cycle of sending documents that they can never seem to find!
We have never been able to even get a trial modification. I wish I knew how to get that far. Any suggestions?

I also read in another thread about HSBC offering some type of workshops. The one I read about was in New Jersey, which is too far for me. Maybe there will be more.

First call the HSBC mortgage company tell them they have denied you but you are having extreme difficulty paying your mortgage (since 2009) I was applying got denied every time until last year when we had the disaster sandy and our roof tore off which the cost to fix was comparable to our mort. I called them I told them-- heat is escaping, I have a 7 yr old and at present I am in a situation of mortage or my child's comfort-- and I am going to put my family first. They offered a 3 mth suppress report to Credit bureau and 1/2 mortage pymts. After Jan-- I would have to pay back >8K in full-- I would not be able to do so-- then they offered me a 3mth trial of mod and 4% interest x 40yrs on 1st mort. and 2% x 40 yrs on 2nd. Also who ever you speak to request to speak to their boss that's what I did, ask for email and phone number. Fax things to both boss and the person you are working with always put the mort. number on EVERY SINGLE paper you fax. Right now my credit is ruin due to they reported me as 109 days deliguent. I have sent them (both boss and person I am working with) my credit report-- I received a letter in the week stating they have fixed it and expect in 30 days this BS to be cleared up. Bear in mind I was never ever late but we lived from hand to mouth with absolutely no savings with a 7 yr old-- how terrifying to live this way and I also re-iterate that we both our jobs does not allow overtime-- nothing will change, my husband retires in 10yrs if God's willing and I would be the sole sary earner so for us either they modify it or we walk away and this is not our intention... my letter also showed a long with receipt that from the day we got this house we had a lemon which all our savings went into repairs....they told us to send EVERY receipt we had showing all work and we did including the roof repair for 3k +