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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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Mortgage Issues

5 January
Posted in Mortgage Issues

HSBC changed fixed mortgage to adjustable, then forecloses

GC in Kentucky said: “HSBC changed the terms of my 30-year fixed home mortgage, to an adjustable rate mortgage in 2001, and refused to modify or make it right. I have all supporting documents from foreclosure in April of 2011.” Here at Lender Watch we are just as shocked as [...]

Some Option – Modify, Short Sale, Deed in Lieu

From K. in Holland, MI Thanks to everyone who has reported on this site in reading other peoples reports of problems with HFC it is comforting to know we are not alone. We too got stuck in a bad loan from HFC that we could not afford after my husband [...]

24 April
Posted in Mortgage Issues
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HSBC made 30 year home loan to 84 year old

LW in California said: “My Dad recently passed away at 92 years old and we found out that at 84 he took out an HSBC loan on his paid off home for $72,000 at 10.5% for 30 years. There was no life insurance policy. I’m curious as to just how [...]

12 April
Posted in Mortgage Issues
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Attorney says HSBC is know for denials

Brenda in New Jersey said: “I did not initially apply for my mortgage from HSBC it was bought out by Champion Mortgage. I applied for a mortgage loan modification from HSBC. I supplied them with all the appropriate documents in 6/2009 and they denied my application 3/2010. My attorney stated [...]

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Simple Interest Mortgage Leaves $12,000 Balance

From R.T. in Oklahoma I assumed a mortgage thru a divorce that had initially been originated in 02/04/2000. The terms: 120 month mortgage having a note rate of 13.95%. I have recently made the last of all 120 payments. HSBC is NOW asserting this is a simple interest loan though [...]