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BH in New Hampshire said: “We were duped by Beneficial into thinking that we would be able to afford a first and equity line with them. How naive of us. Our mortgage is due to go up the end of April, to 2800+ that is without escrowing taxes (another story)…at any rate, I thought I would be proactive and apply for a hardship loan modification, which I did in December, 2009.
We got denied, saying that our loan wasn’t due to change until April, and told to resubmit paperwork (all 22 pages) again thirty days prior to the end of April. So, I faxed everything on March 24. I called two weeks ago and they said that they were ‘behind’ in processing and I should call back. I called on Friday the 9th and the customer service rep. said it was denied because I applied too early, and that I should reapply at the end of April, are you kidding me?
I asked him to connect me to the hardship department, he said “Oh, they don’t speak to customers” (since when). I am so frustrated, but I will reapply at the end of this month. However, does anyone have any other suggestions? We can’t refinance with anyone because my credit score is below 600 and my husband’s is at 640…I want a permament rate change from them.
I don’t understand why they don’t have to work with consumers, and why the government can’t regulate them better. By the way, we have only been late on payments a handful of times over the past few years that we have been with them. My husband and I are both working full-time, he is actually retired by went back to work, and I am a full-time teacher. So we are fortunate to be working, however, we cannot afford an astronomical rate increase; we also have a son in college (however, Beneficial does not want to hear that we have to pay for that) Any suggestions from anyone would be much appreciated.”
This article, Duped into HSBC Beneficial Finance loan says homeowner, is just one of our articles from Bank Horror Stories, HSBC Secrets
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
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