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HFC modification breach

Discussion in 'Mortgage Complaints' started by johncorn, May 31, 2012.

  1. johncorn

    johncorn LoanSafe Member

    I have been having a problem since I accepted a mortgage from HFC about 7 years ago. I joined NACA in January 2010 and received a very good modification in July 2010. My modification included lowering my interest rate to 5% from 9%. I was given two amounts to pay, either my PITI or PITI plus ancillary fee of $320.00. Ancillary fee is past taxes and insurance covered by lender during foreclosure. At time after modification I received calls from HFC asking for payment and I sent what was demanded. In August of 2011, I received a certified letter from HFC stating I was in default and behind three months in payments. I called and was told that my payments had changed six months prior making ancillary fee mandatory. My house payment went up to $2,022.00/mo from $1,750, plus late fees. I agreed to pay $2,500.00 per month until caught up. I had no other choice. I paid this amount til This month,May 2012. I was told I was current early May until I called yesterday when I found out my May payment was redirected by accounting. I was told accounting had right to do whatever they wanted with my funds. I had to pay again for May or fall behind again. I have complained to BBB and State attorney General. I cannot refinance because HFC reported my payments 60 days late for several months, no lender will speak to me. I have sent payments requested by HFC for 24 months and they reported me late. What recourse can I have to get away from HFC? I NEED HELP.
  2. Jeffrey L. Shurtliff

    Jeffrey L. Shurtliff LoanSafe Member

    Send a communication to them with a copy of your payment. Inform them they have exclusive control and the duty to act reasonably. Tell them they have breached this duty; by not applying your funds pursuant to the contract, of which has created an unsafe and unsound banking practice. Ask them to apply the funds as they are supposed to be applied and forgive any accumulated fees from their unsafe and unsound banking practice. Tell them "Please conduct yourselves accordingly." .................Jeffrey PS WELCOME to the forum!
  3. johncorn

    johncorn LoanSafe Member

    Beccause HFC has no offices to visit everything is done by phone and they do not always keep records of conversation, or that is what they say. All correspondence with them is billing and acceptance so any information sent to them other than payments are not processed. I have tried to complain thru mail. I am in process of obtaining email accounts of personnel in higher positioins however any email sent to them never gets addressed. Thank You for responding.
  4. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Next time you call in to loss mitigation request to speak with a manager/supervisor and ask them for their mailing address. Send your complaint certified mail return receipt requested (CMRRR) so you have proof that the complaint was received..
  5. johncorn

    johncorn LoanSafe Member

    I appreciate your help. I have asked during conversations many times to speak to a supervisor and so far I have been unsuccessful every single time. The responses are" You speak to me, there are no supervisors here" or they transfer me to an area where I am either hung up on or left on hold indefinetly. I am trying to find a way to get away from HFC, that is my main goal. I am filing complaints to whoever I can but another problem is HFC is an English company doing business in USA. I am cosidering litigation against company however I do not know the process yet. At this current moment I believe I am current on my payments because verbally that is what I am told but my statements show me owing over $8,000.00 when my payment is $2,022.00. I feel so stressed becuase at any moment I can HFC place me in foreclosure. When asked for explanation of charges i get different reasons from different people every time. Again I do not understand how a financial institution can operate in this manner.
  6. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Many banks have performed unscrupulous practices like they are doing on your account.. I would file a complaint immediately to your state senator, state AG, the OCC, etc. Hopefully that will help light a fire under their a**..
  7. johncorn

    johncorn LoanSafe Member

    I am in the process of doing all that you directed. The funny thing is that a had a successful modification two years ago, and I have been paying more recently than I did before my modification. If I did not have my family living with me at this time I would walk away from this house and mortgage.
  8. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    I totally understand where you are coming from, it is unfortunate that HFC/HSBC only generally offer temporary 1-2 year modifications on 2nd mortgages..
  9. johncorn

    johncorn LoanSafe Member

    OK, thats it. I contacted my credit union and asked if there was anything they can possibly do to help. They listened, took application, ran my credit then called me back. They said I have been reported to 3 credit bureaus late 30, 60 and 90 days in past 8 months. My credit report states my HFC mortgage payment to be $1,716.00. The C.U. asked what I have been paying and I told them between $2,022.00 up to $3,000.00 per month and they still reported me late. She advised me to try and correct credit report to get refi. I plan on addressing reported lates, sending copies of payments made, and having HFC prove my late payments. Don't the credit bureaus have a law forcing them to report the facts? Also what kind of attorney would I speak to for my particular problem?
  10. Jeffrey L. Shurtliff

    Jeffrey L. Shurtliff LoanSafe Member

    You need to call and make an appointment with a Real Estate Attorney.
  11. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

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