My HSBC 2nd mortgage negotiations round 3

70GTO · Jul 28, 2015

DaveFred said:
Trouble
I decided to give them a call again today and check to see if a Lien Release had ever been processed on my loan. I talked to a rep who looked up my account and said no but it should have been done by now and put me on hold. she then transferred me to a lady named Gaby who identified herself as a lien release specialist. She told me that my loan had been closed more than 90 days with a 1099 and apologized for the delay in the release. She then said she was going to put in for an expedited lean release with her legal department and it should be done in 15 days or less. I asked how I would know if it got done and she gave me a direct phone line to contact here in in about 5 days to get a reference or docket number. She said with that I could search the county records and request a copy of the final release for my records.

So it seems that this is all going to end shortly for me.

Dave

Same here.. got my lein release in about 45 days.. house is up for sale

Western Belle · Jul 28, 2015

DaveFred and all...who is your servicer and is the loan a fannie mae loan? Im trying to settle on my second. ..bk7 and discharged. I supplied my servicer with a full cma showing the house underwater by 45k. I offered them a lowball amount of 2%. They asked for my financials...which i supplied because i have absolutely nothong to hide...and it stalled the fc threat a bit. Anyway a few wks went by and i just received a package from them which included their own appraisal of plus 15k vs mine. Still underwater. Still not calling them.... does anyone know the banks next move? Any guidance for me? Thank you in advance

troubleinriverside · Jul 30, 2015

DaveFred said:
Trouble
I decided to give them a call again today and check to see if a Lien Release had ever been processed on my loan. I talked to a rep who looked up my account and said no but it should have been done by now and put me on hold. she then transferred me to a lady named Gaby who identified herself as a lien release specialist. She told me that my loan had been closed more than 90 days with a 1099 and apologized for the delay in the release. She then said she was going to put in for an expedited lean release with her legal department and it should be done in 15 days or less. I asked how I would know if it got done and she gave me a direct phone line to contact here in in about 5 days to get a reference or docket number. She said with that I could search the county records and request a copy of the final release for my records.

So it seems that this is all going to end shortly for me.

Dave

Great Job. Let us know when you have it in hand. As for me, as I stated they told me my account is with HSBC Bank in New York. I have no idea what that means and I'm not going to poke the bear. Values are increasing rapidly in my neighborhood, and I just might be in the money now or very close to it. Dumb as it sounds I really hope the market tanks soon .

spike9999 · Sep 9, 2015

Well I decided its time to force the issue and see what I can get done on my lien release. In my state if the note is beyond the SOL- the lien can't be enforced and hence should be released. With that said I found a pretty good real estate attorney who is filing the lawsuit for the quiet title action. I thought about calling GT and just asking them- but I have a feeling that is not the best route with them. They have a history of being difficult to deal with. I really feel I need to move on this before some new court ruling comes out and clouds up past rulings/opinions. I have been told this should take between 30-60 days.............

troubleinriverside · Sep 13, 2015

DaveFred said:
Trouble
I decided to give them a call again today and check to see if a Lien Release had ever been processed on my loan. I talked to a rep who looked up my account and said no but it should have been done by now and put me on hold. she then transferred me to a lady named Gaby who identified herself as a lien release specialist. She told me that my loan had been closed more than 90 days with a 1099 and apologized for the delay in the release. She then said she was going to put in for an expedited lean release with her legal department and it should be done in 15 days or less. I asked how I would know if it got done and she gave me a direct phone line to contact here in in about 5 days to get a reference or docket number. She said with that I could search the county records and request a copy of the final release for my records.

So it seems that this is all going to end shortly for me.

Dave

Hi Davefred. Is it over yet ?..............................

troubleinriverside · Sep 18, 2015

DaveFred said:
Its Over !!!

I received a full Re-conveyance notice in the mail yesterday. It was stamped and signed by the Riverside County Clerk . The date on the document was actually stamped on 8/24/2015 but my mail is forwarded from Riverside County where the Home is located to my new home in Lassen County, Ca.

It has been a long an stressful journey from the time I decided to stop paying HSBC because I could no longer afford too and was hopelessly upside down on a second mortgage that they refused to offer any help on. Now about five years later its a rental home with positive cash flow and about 100k in positive equity. Who new this was even possible back then.

In January I am now planing on retiring something I thought was not even possible 5 years ago.

Thanks to all here who have followed my story and hoping you to can have a positive outcome.

Dave

Good for you Dave, finally a success story. And best of luck on your retirement. I am 60 and working on my exit plan. I'm thinking on moving to Arizona on a larger parcel of property and putting a couple of manufactured homes on it. I'll have a pretty good pension coming, unless the 91 freeway kills me first.

momofboys · Oct 6, 2015

I received a statement showing Ditech instead of Greentree. Checked my credit report to see if anything had changed and it shows in one spot that Greentree was removed in March then shows Ditech showing up with a status of "charged off as bad debt" "profit and loss write off" I'm assuming this just means nothing has changed. Any new advice to try to get this settled? Or should I still try to wait them out? Also it shows "conventional real estate mortgage" but it was actually a second mortgage. Does that mean the same thing?

kellyaw · Oct 8, 2015

DaveFred said:
I don't have any new updates but I have been searching the forums here and elsewhere an and have found it very difficult to find much information about HSBC. I get this uneasy feeling that those of us that have Mortgages with HSBC are just bastard step children of the industry. No one really knows or has much information on our parents.
I would welcome any input or information on success or failures in dealing with HSBC. I am really at a loss as to the best or most logical way to proceed. I get this uneasy feeling that in the end our only solution will end up being to file BK and walk away. I have yet to find one story about anyone successfully dealing with HSBC other than temp mods and one widower getting a mod.
Dave
<input id="gwProxy" type="hidden"><input onclick="jsCall();" id="jsProxy" type="hidden">

I never thought I would write these words but I just had a huge success with HSBC. I am three months behind and my dedicated loan specialist, who I actually love, called and said she has no idea why or how this happened but my account was placed under review and they are waiting for me to send in two paystubs. I figure what the heck so I did it. Today I called her to check the status figuring a modification was not going to happen and then she stunned me by saying that HSBC has permanently modified my loan and reduced the principal balance by $73,900 which will lower the payment and give me some equity in the home. I was in such shock that I actually asked her to verify the loan number that she was looking at. Surely it had to be a mistake. I never even asked for a modification let alone a principal reduction. Honestly, the only thing that I can attribute this to is divine intervention. I have been praying a lot, going to church and volunteering my time for those less fortunate. I just gave up fighting and gave my situation to God and He delivered in a big way. Even the loan specialist seemed baffled because she could not figure out who put in for the modification. I'll be in shock for awhile but apparently the paperwork is being mailed out to me today. Now all I have to do is figure out how to deal with the devil himself - Greentree. They have my second mortgage which was charged off but are relentless in wanting payments. That will truly be a battle of God vs. the Devil. In closing, please do not give up hope. Miracles can and do happen everyday. I never thought it would happen to me but it did. I was at the end of my rope and was ready to call it quits.

spike9999 · Oct 22, 2015

spike9999 said:
Well I decided its time to force the issue and see what I can get done on my lien release. In my state if the note is beyond the SOL- the lien can't be enforced and hence should be released. With that said I found a pretty good real estate attorney who is filing the lawsuit for the quiet title action. I thought about calling GT and just asking them- but I have a feeling that is not the best route with them. They have a history of being difficult to deal with. I really feel I need to move on this before some new court ruling comes out and clouds up past rulings/opinions. I have been told this should take between 30-60 days.............

Update-Well GT cashed the $5 check for the quiet title statutory fee but never sent over the quiet title. I guess they need the money...... Filing the lawsuit against them shortly, will be interesting to see how or if they are going to fight me on this. If they lose, they are responsible for my attorney fees. My assumption is they will give it up- they just want me to work hard for it.

troubleinriverside · Mar 6, 2016

Thought I would check in here and see if anyone has anything new to report. Its now been 6 years since my bankruptcy discharge, and HSBC charge off. I still haven't heard a thing from HSBC, or received a 1099-C. Home prices in my neighborhood are climbing and very close to pre crash values.

UnderWaterInWA · Mar 6, 2016

I can't remember if I shared this or not so forgive me if I did. I did receive a 1099c from HFC for my second. And they did file a reconveyance at the county. But..... the reconveyance says 'without waiver of debt'. Here's a screenshot:

[/URL][/IMG]

The attorney I spoke with related to this urged me to keep a copy of the letter received from them as it could become an issue at some point down the road; of course, I keep everything.

momofboys · Mar 6, 2016

I am still holding out. Getting letters monthly from Ditech but still ignoring. I have been hoping and praying that they would just forgive this and send us a 1099c but didn't get one this year. I would be happy to settle but they won't budge past 50%. Still holding out!

moretrouble · Mar 6, 2016

Same situation as momofboys. Ditech starts showing up in credit report. HELOC past SOL. Got a letter telling call 800 number to settle but no specific. I am not in a hurry, may call later this year. Will not go above 10%.

donnac · Mar 7, 2016

moretrouble said:
Same situation as momofboys. Ditech starts showing up in credit report. HELOC past SOL. Got a letter telling call 800 number to settle but no specific. I am not in a hurry, may call later this year. Will not go above 10%.

i have not heard anything since my write off but did receive a form for my taxes. They wrote off 69,000

loansuccess · Mar 10, 2016

troubleinriverside said:
Thought I would check in here and see if anyone has anything new to report. Its now been 6 years since my bankruptcy discharge, and HSBC charge off. I still haven't heard a thing from HSBC, or received a 1099-C. Home prices in my neighborhood are climbing and very close to pre crash values.

Hi. Like you, I filed bankruptcy (chapter 7) in 2010. My second mortgage (HSBC) was discharged and I never heard anything else from them since that time. After reading one of the previous post, I decided to take a chance and call them (800)586-6668. I basically inquired about why I hadn't received a 1099-C and subsequent lien release. It took the rep a few minutes to find my loan - once she found it, she told me that it was charged off in 2010. She then transferred me to the bankruptcy department and they put in the request for the legal department to prepare the lien release. I was told that the process takes between 45 and 60 days. I called back yesterday to ensure that the request was completed and was assured that it was being processed. So, I would encourage you to call. The reality is they cannot come after you since it was discharged, and its already been charged. Thus, the only thing left for them to do is release the lien. The bankruptcy rep reiterated to me that they would send the release, because they were not going to accept any payments on the loan.

moretrouble · Mar 10, 2016

Got a settlement offer from Ditech for 80%, saying even if I pay and in case the collateral was sold I can not get the house back. They think I am stupid or what? how about maybe 8% for them to go away.

spike9999 · Mar 12, 2016

moretrouble said:
Got a settlement offer from Ditech for 80%, saying even if I pay and in case the collateral was sold I can not get the house back. They think I am stupid or what? how about maybe 8% for them to go away.

Yes they do think we are idiots. Ditech/GT is run by the biggest bunch of idiots. When you talk to them they are clearly confused and their "info" they give you is even wrong. My case with them is done, however I still should sue them for all the collection actions they broke when they were chasing me. Best wishes

troubleinriverside · Mar 12, 2016

loansuccess said:
Hi. Like you, I filed bankruptcy (chapter 7) in 2010. My second mortgage (HSBC) was discharged and I never heard anything else from them since that time. After reading one of the previous post, I decided to take a chance and call them (800)586-6668. I basically inquired about why I hadn't received a 1099-C and subsequent lien release. It took the rep a few minutes to find my loan - once she found it, she told me that it was charged off in 2010. She then transferred me to the bankruptcy department and they put in the request for the legal department to prepare the lien release. I was told that the process takes between 45 and 60 days. I called back yesterday to ensure that the request was completed and was assured that it was being processed. So, I would encourage you to call. The reality is they cannot come after you since it was discharged, and its already been charged. Thus, the only thing left for them to do is release the lien. The bankruptcy rep reiterated to me that they would send the release, because they were not going to accept any payments on the loan.

Hello,

Was this with HSBC Bank in Buffalo New York or was this with HSBC mortgage. My loan was with the Bank in Buffalo and not HSBC the mortgage servicer.

My HSBC 2nd mortgage negotiations round 3

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member

LoanSafe Member