In October 2012 HSBC sent me an offer for a Deed in Lieu of Foreclosure, and I accepted since my account was in arrears and I could no longer make the mortgage payments. They offered a very attractive "relocation" payment. I accepted the offer, and immediately set out to get a HOA lien released. I borrowed and paid a lot of money, but got the release in December 2012 (less than two months after our first contact). Ever since then they have stalled, and stalled, and stalled some more. I have a whole pile of letters from them, faxes I sent (including a copy of the Release of Lien 3 times!), and detailed notes of telephone conversations. They assigned me to several different "specialists" over the year 2013, and their letters contradicted each other and once I received 3 in one day all saying something different. I thought everything was on track in October 2013, but then exactly a week before Christmas HSBC filed foreclosure. I spent January trying to get the DIL back on track, and again thought it was all set (after I faxed the Release of Lien the last time). But then ... effective February 1, they sold my loan to another company! So now I'm back where I started, with the foreclosure clock running.
I am writing this letter to you hoping that you will be able to help me or refer me to someone who can. I am a homeowner who has been misled, lied to, and greatly taken advantage of by a lender, HSBC Mortgage Company. I have recently confirmed through an attorney that the actions that HSBC have taken against me are illegal. Unfortunately, what I do not have are the financial resources to fight my case against such a giant corporation.
I am confident that is what this bank is counting on; beat the consumer out of their home because they cannot afford to fight for it. It is frustrating; I am at my wits end. Simply put, I need help. I need someone who is willing to represent me or point me in a direction to someone who can help me to recover from my loss. I am a person who is employed. I am a person who has never missed a payment in my credit history. I am a person who never missed a mortgage payment until I was advised to stop paying by the lender I am writing about, HSBC Mortgage Company. This is where my nightmare begins.
To summarize it best; I went through a divorce in 2008 and when she left and filed for divorce she did not make any claims on our home. She moved out and told me she would take on her own credit card debt and that I should keep the house; she had no interest in it. After our divorce was final I learned that during our marriage she put some credit cards in my name without my knowledge and I assumed responsibility for all of the payments on them because I did not want any default in my credit history. Shortly thereafter she filed for bankruptcy in 2009 to cover her own personal debt. What I did not know is that she also included our home in her bankruptcy.
Following the divorce I did the responsible thing and continued to pay my mortgage payments, living expenses and the credit card debt I inherited. It was a struggle and my debt to income ratio was not in my favor. After 2 years of making payments and depleting all my resources including my 401k and personal savings I was barely able to make ends meet. I finally contacted HSBC in April of 2011 for help. Not only was I making a mortgage payment that was becoming unmanageable, the value of my home had dropped and had a negative equity of about $80,000. I spoke with a representative at HSBC and explained my situation.
I requested a loan modification or the option to re-finance and ultimately remove my ex-wife from the title since she no longer resided in the home or took responsibility for the payments. HSBC told me they would get back with me and shortly thereafter I received a letter stating that they did not recognize divorce decree or offer loan modifications. I could not re-finance because the property was upside down. Ultimately, there was nothing they could or would do for me. I continued to make the payments on time every month for another year. That last year was my breaking point. I absolutely could no longer afford the payment.
I decided to call HSBC for help one more time. I made this call in April of 2012. When the representative took my call they said they needed to advise me that they could not discuss my loan, collections,or payments because my home loan was in “discharge status” due to my bankruptcy and that my payments were “voluntary.” I was very confused. What did they mean my loan was in discharge due to my bankruptcy? I never filed bankruptcy! The representative went on to tell me that the home was discharged in a bankruptcy and that all payments were voluntary.
I explained that this was not a bankruptcy in my name and that I have been maintaining payments on my own since my ex-wife moved out in 2008. I asked what I could do to fix the situation. The HSBC rep advised me that I was no longer responsible for the loan because it was discharged in my ex-wifes bankruptcy and the best thing for me to do was to let the home go. They told me to move out because there would be no action against me or my credit because the loan was discharged in her bankruptcy. I begged for an explanation. I asked for help. I asked why I was never informed that my loan was in discharge and could never get a straight answer. I was even more puzzled because I contacted HSBC one year earlier in April 2011 and did not receive this information disclosure at that time but the home would have already been in discharge status for 2 years.
Now my home was discharged in a bankruptcy from 3 years ago and I was not informed? How was this possible? The rep asked me why I kept making payments this long. I explained that I had my payments automatically sent through my bank bill pay as I had always done. The person told me, “Sir, you should stop making those payments since you are no longer responsible for the home. That is my best advice. We cannot modify or help you with the loan and we cannot collect on it because it is in discharge status. You can simply walk away.”
I took their advice out of desperation. I stopped payment on my mortgage check in April 2012 because I simply did not have the money. I still tried to initiate a solution with HSBC. I filed a hardship and submitted all the requested paperwork. HSBC denied it. I documented several conversations with HSBC as I tried to come up with a way to fix the situation and manage my mortgage. All those conversations went the same; they advised me to move out of my home with no penalty because the home was discharged due to her bankruptcy. Finally, in October 2012 after 6 months of trying with no end in sight and feeling terrible for living in a home I wasn’t paying for, I took their advice and moved out and found a rental home with a much lower payment. Of course, everything they told me about not being responsible was a lie.
In fact, since then they offered me a deed in liu; then they declined it. In my absence they sent a company into my home who removed several locks and door handles, put a lock box on the door, turned on utilities, mowed the lawns and performed inspections but never advised me of this. This company left a sign in sheet on my kitchen counter which is how I knew someone had been in my home. How could they be in the home and making alterations when they haven’t taken legal possession? They had been coming and going freely from November 2011-February 2012 until I advised them not to enter the property until HSBC filed for legal possession.
HSBC sent me a 1099 in the amount of $80,000 for “abandonment of property” which I had to claim on my taxes but they still have not released me of liability. They never even took necessary steps to take legal possession of the property after they sent the 1099. It is still in my name. I found a buyer to buy the home on a short sale and in the middle of the negotiation process they sold the home to Caliber Home Loans who is now trying to collect $229,000 from me. What happened to the $80,000 I was 1099’d for in 2012? It seems to me they have been paid and bailed out on this home 3 times, 1st when my ex-wife filed bankruptcy in 2009 and the the loan was discharged, 2nd when they sent me a 1099 for $80,000 in 2012 and a 3rd time when they sold the home to Caliber for $229,000.
The fair market value for the home is roughly at $150,000. How can they 1099 me for abandoning the property but still hold me responsible for the loan? At this point I have moved out of state and have no interest in ever stepping foot in this home. HSBC has not reported a thing on my credit history since 2009 including the payments I made on time until 2012 when I moved out at their advice. In fact, HSBC denies ever giving me the advice to move out or to stop making payments. The story changes with every conversation! I was told in 2012 by their “bankruptcy department” that they did not have to inform me of my ex-wife's bankruptcy or the change of my loan status to discharge because it was none of my business.
Really? A mortgage in my name is none of my business? I have this $229,000 mortgage lingering on my credit that I cannot sell, write off or get out of. I am stuck. I have now been informed by Caliber Home Loans that any history with HSBC is not their problem and that I will be 1099’d again by them if I should continue the short sale process. Can I really be 1099’d twice for the same property? I am afraid to short sell it to the current buyer due to the potential liability. Now, not only do I have lingering debt that my ex-wife was nice enough to leave me but I also have an IRS debt to pay on top of it. I have documented every conversation, kept every letter and interaction to back up my story. I have confirmed with an attorney that HSBC has done several illegal things throughout this process. What I do not know is how to fix it. How can I be compensated for the home I lost, the debt I’ve accumulated and the credit mess I am in as a result of this banks lack of communication and negligent behavior? How does a consumer like me protect himself against such a giant corporation? This home is located in Fresno, CA.
In November of 2016 I applied for a HARP refinance of my coop apartment with HSBC. After 13 months, my refinance was cancelled due to "lack of documentation." Over the course of the 13 months, all documentation was submitted promptly and there was never a point that documentation was asked for and not given. I continued to ask HSBC what if anything I needed to do to close the loan because it was still in limbo. My lock in rate was missed four times and they needed to rerun credit four times over the course of the process - thereby creating 4 credit inquires on my credit and dropping my credit score in the process.
I still had not heard from HSBC about approval so I contacted Natasha Bucks who is my Premier Relationship Manager. After she got involved, I was immediately told on On October 25th, 2016 that my loan would be approved. Nevertheless, I wasn't contacted again or repsoded to for over a month. Sunsequently, my loan rate was going to expire again. I could not afford to have them run my credit for a fifth time. I then got an email stating that "my manager (Eric Zoldos) has requested the file to be cancelled. The cancellation will most likely occur sometime today. Very sorry for any inconvenience."
After 13 months, my loan was cancelled.
It should never take over a year to close a loan. If there aren't processes and procedures to ensure that loans are handled promptly and properly - there should be. If they do exist, they were not followed in this case. I'm that if there were a huge loan generating a lot of income for HSBC, it would have been handled much differently. Instead, I am a middle class client, trying to refinance a small loan to help make my payments smaller. It may not be "a big deal" to a major bank like HSBC, but it is to me as it is to so many other American homeowners. I can luckilty afford to continue to pay for my mortgage at the old rate, but for other people struggling to make payments, having been essentially put on hold for 13 months could have forced them into foreclosure and losing their home all because someone did not manage their refinance properly.
To make matters MUCH worse, right when around the time that I was told that we were ready to close, HSBC apparently sold my loan to Nationstar. Despite the hundreds of emails going back and forth about the refinance, no one told me that my loan had been transferred. Additionally, the address they sent the notification letter to was an incorrect address. Nationstar also sent notification to the wrong address. I only learned about the transfer when it showed up on my credit report as 60 days late. My credit immediately dropped over 130 points!
So, in addition to not closing on the refinance, I now can't apply to refinance again until my credit is fixed as my new credit score is poor whereas it was 775 beforehand. I have communicated with Eric Zoltos, Natasha Bucks, Octavia Thompson, Marie Tomaselli, and the customer service department at HSBC. I was told that there is nothing they can do to help - it's out of their department or out of their hands. They are sorry for the inconvenience. I've also been told that I can go ahead and apply for another refinace.
Thanks but no thanks. Never again HSBC. You've lost a loyal customer of over 12 years.
To whom it may concern, I am sending this report because I feel I was treated some find on way by this mortgage company. My husband died in 2006, I have been paying on this loan by myself for over ten years now not being last on payments or anything like that. I called and asked to get a loan Modification or refinance and I was told No, they did not do that. I think it is a shame when you have been paying on a loan for ten years and all of the money is still going to interest except for a few dollars. I let them know my husband had died and everything is in my name now but they would not take his name off the paper. I am responsiable for the bill and I don't like having to see my husband's name on a bill and he is deceased. That is cold. I am still trying to get away from these high interest rates. They changed my mortgage over to a new company, but the rates are still high. I would be glad if whatever you can do to try to fix this ripoff. Thanks
In October 2012 HSBC sent me an offer for a Deed in Lieu of Foreclosure, and I accepted since my account was in arrears and I could no longer make the mortgage payments. They offered a very attractive "relocation" payment. I accepted the offer, and immediately set out to get a HOA lien released. I borrowed and paid a lot of money, but got the release in December 2012 (less than two months after our first contact). Ever since then they have stalled, and stalled, and stalled some more. I have a whole pile of letters from them, faxes I sent (including a copy of the Release of Lien 3 times!), and detailed notes of telephone conversations. They assigned me to several different "specialists" over the year 2013, and their letters contradicted each other and once I received 3 in one day all saying something different. I thought everything was on track in October 2013, but then exactly a week before Christmas HSBC filed foreclosure. I spent January trying to get the DIL back on track, and again thought it was all set (after I faxed the Release of Lien the last time). But then ... effective February 1, they sold my loan to another company! So now I'm back where I started, with the foreclosure clock running.
HSBC Mortgage Services Reviews
In October 2012 HSBC sent me an offer for a Deed in Lieu of Foreclosure, and I accepted since my account was in arrears and I could no longer make the mortgage payments. They offered a very attractive "relocation" payment. I accepted the offer, and immediately set out to get a HOA lien released. I borrowed and paid a lot of money, but got the release in December 2012 (less than two months after our first contact). Ever since then they have stalled, and stalled, and stalled some more. I have a whole pile of letters from them, faxes I sent (including a copy of the Release of Lien 3 times!), and detailed notes of telephone conversations. They assigned me to several different "specialists" over the year 2013, and their letters contradicted each other and once I received 3 in one day all saying something different. I thought everything was on track in October 2013, but then exactly a week before Christmas HSBC filed foreclosure. I spent January trying to get the DIL back on track, and again thought it was all set (after I faxed the Release of Lien the last time). But then ... effective February 1, they sold my loan to another company! So now I'm back where I started, with the foreclosure clock running.
I am writing this letter to you hoping that you will be able to help me or refer me to someone who can. I am a homeowner who has been misled, lied to, and greatly taken advantage of by a lender, HSBC Mortgage Company. I have recently confirmed through an attorney that the actions that HSBC have taken against me are illegal. Unfortunately, what I do not have are the financial resources to fight my case against such a giant corporation.
I am confident that is what this bank is counting on; beat the consumer out of their home because they cannot afford to fight for it. It is frustrating; I am at my wits end. Simply put, I need help. I need someone who is willing to represent me or point me in a direction to someone who can help me to recover from my loss. I am a person who is employed. I am a person who has never missed a payment in my credit history. I am a person who never missed a mortgage payment until I was advised to stop paying by the lender I am writing about, HSBC Mortgage Company. This is where my nightmare begins.
To summarize it best; I went through a divorce in 2008 and when she left and filed for divorce she did not make any claims on our home. She moved out and told me she would take on her own credit card debt and that I should keep the house; she had no interest in it. After our divorce was final I learned that during our marriage she put some credit cards in my name without my knowledge and I assumed responsibility for all of the payments on them because I did not want any default in my credit history. Shortly thereafter she filed for bankruptcy in 2009 to cover her own personal debt. What I did not know is that she also included our home in her bankruptcy.
Following the divorce I did the responsible thing and continued to pay my mortgage payments, living expenses and the credit card debt I inherited. It was a struggle and my debt to income ratio was not in my favor. After 2 years of making payments and depleting all my resources including my 401k and personal savings I was barely able to make ends meet. I finally contacted HSBC in April of 2011 for help. Not only was I making a mortgage payment that was becoming unmanageable, the value of my home had dropped and had a negative equity of about $80,000. I spoke with a representative at HSBC and explained my situation.
I requested a loan modification or the option to re-finance and ultimately remove my ex-wife from the title since she no longer resided in the home or took responsibility for the payments. HSBC told me they would get back with me and shortly thereafter I received a letter stating that they did not recognize divorce decree or offer loan modifications. I could not re-finance because the property was upside down. Ultimately, there was nothing they could or would do for me. I continued to make the payments on time every month for another year. That last year was my breaking point. I absolutely could no longer afford the payment.
I decided to call HSBC for help one more time. I made this call in April of 2012. When the representative took my call they said they needed to advise me that they could not discuss my loan, collections,or payments because my home loan was in “discharge status” due to my bankruptcy and that my payments were “voluntary.” I was very confused. What did they mean my loan was in discharge due to my bankruptcy? I never filed bankruptcy! The representative went on to tell me that the home was discharged in a bankruptcy and that all payments were voluntary.
I explained that this was not a bankruptcy in my name and that I have been maintaining payments on my own since my ex-wife moved out in 2008. I asked what I could do to fix the situation. The HSBC rep advised me that I was no longer responsible for the loan because it was discharged in my ex-wifes bankruptcy and the best thing for me to do was to let the home go. They told me to move out because there would be no action against me or my credit because the loan was discharged in her bankruptcy. I begged for an explanation. I asked for help. I asked why I was never informed that my loan was in discharge and could never get a straight answer. I was even more puzzled because I contacted HSBC one year earlier in April 2011 and did not receive this information disclosure at that time but the home would have already been in discharge status for 2 years.
Now my home was discharged in a bankruptcy from 3 years ago and I was not informed? How was this possible? The rep asked me why I kept making payments this long. I explained that I had my payments automatically sent through my bank bill pay as I had always done. The person told me, “Sir, you should stop making those payments since you are no longer responsible for the home. That is my best advice. We cannot modify or help you with the loan and we cannot collect on it because it is in discharge status. You can simply walk away.”
I took their advice out of desperation. I stopped payment on my mortgage check in April 2012 because I simply did not have the money. I still tried to initiate a solution with HSBC. I filed a hardship and submitted all the requested paperwork. HSBC denied it. I documented several conversations with HSBC as I tried to come up with a way to fix the situation and manage my mortgage. All those conversations went the same; they advised me to move out of my home with no penalty because the home was discharged due to her bankruptcy. Finally, in October 2012 after 6 months of trying with no end in sight and feeling terrible for living in a home I wasn’t paying for, I took their advice and moved out and found a rental home with a much lower payment. Of course, everything they told me about not being responsible was a lie.
In fact, since then they offered me a deed in liu; then they declined it. In my absence they sent a company into my home who removed several locks and door handles, put a lock box on the door, turned on utilities, mowed the lawns and performed inspections but never advised me of this. This company left a sign in sheet on my kitchen counter which is how I knew someone had been in my home. How could they be in the home and making alterations when they haven’t taken legal possession? They had been coming and going freely from November 2011-February 2012 until I advised them not to enter the property until HSBC filed for legal possession.
HSBC sent me a 1099 in the amount of $80,000 for “abandonment of property” which I had to claim on my taxes but they still have not released me of liability. They never even took necessary steps to take legal possession of the property after they sent the 1099. It is still in my name. I found a buyer to buy the home on a short sale and in the middle of the negotiation process they sold the home to Caliber Home Loans who is now trying to collect $229,000 from me. What happened to the $80,000 I was 1099’d for in 2012? It seems to me they have been paid and bailed out on this home 3 times, 1st when my ex-wife filed bankruptcy in 2009 and the the loan was discharged, 2nd when they sent me a 1099 for $80,000 in 2012 and a 3rd time when they sold the home to Caliber for $229,000.
The fair market value for the home is roughly at $150,000. How can they 1099 me for abandoning the property but still hold me responsible for the loan? At this point I have moved out of state and have no interest in ever stepping foot in this home. HSBC has not reported a thing on my credit history since 2009 including the payments I made on time until 2012 when I moved out at their advice. In fact, HSBC denies ever giving me the advice to move out or to stop making payments. The story changes with every conversation! I was told in 2012 by their “bankruptcy department” that they did not have to inform me of my ex-wife's bankruptcy or the change of my loan status to discharge because it was none of my business.
Really? A mortgage in my name is none of my business? I have this $229,000 mortgage lingering on my credit that I cannot sell, write off or get out of. I am stuck. I have now been informed by Caliber Home Loans that any history with HSBC is not their problem and that I will be 1099’d again by them if I should continue the short sale process. Can I really be 1099’d twice for the same property? I am afraid to short sell it to the current buyer due to the potential liability. Now, not only do I have lingering debt that my ex-wife was nice enough to leave me but I also have an IRS debt to pay on top of it. I have documented every conversation, kept every letter and interaction to back up my story. I have confirmed with an attorney that HSBC has done several illegal things throughout this process. What I do not know is how to fix it. How can I be compensated for the home I lost, the debt I’ve accumulated and the credit mess I am in as a result of this banks lack of communication and negligent behavior? How does a consumer like me protect himself against such a giant corporation? This home is located in Fresno, CA.
In November of 2016 I applied for a HARP refinance of my coop apartment with HSBC. After 13 months, my refinance was cancelled due to "lack of documentation." Over the course of the 13 months, all documentation was submitted promptly and there was never a point that documentation was asked for and not given. I continued to ask HSBC what if anything I needed to do to close the loan because it was still in limbo. My lock in rate was missed four times and they needed to rerun credit four times over the course of the process - thereby creating 4 credit inquires on my credit and dropping my credit score in the process.
I still had not heard from HSBC about approval so I contacted Natasha Bucks who is my Premier Relationship Manager. After she got involved, I was immediately told on On October 25th, 2016 that my loan would be approved. Nevertheless, I wasn't contacted again or repsoded to for over a month. Sunsequently, my loan rate was going to expire again. I could not afford to have them run my credit for a fifth time. I then got an email stating that "my manager (Eric Zoldos) has requested the file to be cancelled. The cancellation will most likely occur sometime today. Very sorry for any inconvenience."
After 13 months, my loan was cancelled.
It should never take over a year to close a loan. If there aren't processes and procedures to ensure that loans are handled promptly and properly - there should be. If they do exist, they were not followed in this case. I'm that if there were a huge loan generating a lot of income for HSBC, it would have been handled much differently. Instead, I am a middle class client, trying to refinance a small loan to help make my payments smaller. It may not be "a big deal" to a major bank like HSBC, but it is to me as it is to so many other American homeowners. I can luckilty afford to continue to pay for my mortgage at the old rate, but for other people struggling to make payments, having been essentially put on hold for 13 months could have forced them into foreclosure and losing their home all because someone did not manage their refinance properly.
To make matters MUCH worse, right when around the time that I was told that we were ready to close, HSBC apparently sold my loan to Nationstar. Despite the hundreds of emails going back and forth about the refinance, no one told me that my loan had been transferred. Additionally, the address they sent the notification letter to was an incorrect address. Nationstar also sent notification to the wrong address. I only learned about the transfer when it showed up on my credit report as 60 days late. My credit immediately dropped over 130 points!
So, in addition to not closing on the refinance, I now can't apply to refinance again until my credit is fixed as my new credit score is poor whereas it was 775 beforehand. I have communicated with Eric Zoltos, Natasha Bucks, Octavia Thompson, Marie Tomaselli, and the customer service department at HSBC. I was told that there is nothing they can do to help - it's out of their department or out of their hands. They are sorry for the inconvenience. I've also been told that I can go ahead and apply for another refinace.
Thanks but no thanks. Never again HSBC. You've lost a loyal customer of over 12 years.
To whom it may concern, I am sending this report because I feel I was treated some find on way by this mortgage company. My husband died in 2006, I have been paying on this loan by myself for over ten years now not being last on payments or anything like that. I called and asked to get a loan Modification or refinance and I was told No, they did not do that. I think it is a shame when you have been paying on a loan for ten years and all of the money is still going to interest except for a few dollars. I let them know my husband had died and everything is in my name now but they would not take his name off the paper. I am responsiable for the bill and I don't like having to see my husband's name on a bill and he is deceased. That is cold. I am still trying to get away from these high interest rates. They changed my mortgage over to a new company, but the rates are still high. I would be glad if whatever you can do to try to fix this ripoff. Thanks
In October 2012 HSBC sent me an offer for a Deed in Lieu of Foreclosure, and I accepted since my account was in arrears and I could no longer make the mortgage payments. They offered a very attractive "relocation" payment. I accepted the offer, and immediately set out to get a HOA lien released. I borrowed and paid a lot of money, but got the release in December 2012 (less than two months after our first contact). Ever since then they have stalled, and stalled, and stalled some more. I have a whole pile of letters from them, faxes I sent (including a copy of the Release of Lien 3 times!), and detailed notes of telephone conversations. They assigned me to several different "specialists" over the year 2013, and their letters contradicted each other and once I received 3 in one day all saying something different. I thought everything was on track in October 2013, but then exactly a week before Christmas HSBC filed foreclosure. I spent January trying to get the DIL back on track, and again thought it was all set (after I faxed the Release of Lien the last time). But then ... effective February 1, they sold my loan to another company! So now I'm back where I started, with the foreclosure clock running.