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JP in California said: “I can relate to the HSBC horror stories. We purchased our first home and within a couple of days HSBC bought the loan. We didn’t even make it through the ending of the year when they lost our payment.
We get this letter about foreclosure it took a week of calling everyone to fix the problem. Then they advised we had a lapse of insurance okay, we paid it four months later they are charging us for the same thing.
Ok moving on in June we called because we knew that the rate would adjust in October. The HSBC rep advised the account is current they are not able to help. HSBC said we would have to default on loan. I advised the rep of her proposed damage to our credit but she really didn’t even care.
So September came and we stopped paying. Every day the phone would ring I would answer three hours later another rep and so on. Finally we called HSBC’s home retention department who advised there is nothing they can do, and suggested we rent a room in your home. I advised the rep I have two little boys and I wouldn’t feel safe with just anyone in my home.
The other thing they advised to place a trailer in my yard I advised to the rep we don’t live in a country that would be okay with. I was also advised why we have two new cars I have to get to work and my husband has to get work. Then the loan modification department called advised we can give you a six month freeze.
I advised the young man that is not fix and in six months I will be in the same boat. So I am walking away from the property sadly but left no choice. My biggest thing is if you can resell the property for nothing why you can’t give i to me at that price. But greed and arrogance is something the lenders continue to have and that is what is takeing them down. The American dream has been an American nightmare.”
This article, HSBC buys home loan contract and later forecloses, 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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