HSBC Beneficial refinanced us due to their variable rate loan that sky rocketed during the market crash. bradon Florida
Mortgage at 13% payment on 100K loan with a monthly payment of 1200. They forced us to refi when the market crashed due to variable rate loan. Home is only worth about 75K. Never missed a payment until last month. Attempted to work with HSBC several times and they refuse to help us at all. Thru a bankrupty case we still made payments on time and have asked them several times for specific information and they refused and our attorney did get them to give us some of the information. They only offer a six month reduction plan and we were denied. Even knowing that we make 20k less/yr. We have tried to refinance thru every program out there and we cant because our loan isn't a federal backed loan. We are being forced to let our house go back to them because of the ridiculous rate, payments, and ther unwillingness to help.
3 Updates & Rebuttals
jeff
akron,Ohio,
I would love information
#4Author of original report
Tue, February 04, 2014
Would love to have any information that you may have from your attroney to help us with HSBC. We are at the brink of just letting the house go because of the lies and lack of help from their company.
jeff
akron,Ohio,
jim
#4Author of original report
Mon, February 03, 2014
Jim it's hard to argue with you, however when your on the brink of losing your dream home because of the huge market crash and your trapped in a corner you have to make a decision. At a younger age and lack of knowledge you sign your life away not knowing any better. However again they are very unwilling to help now and that's the part that makes no sense. Most lenders are willing to work with their loan holders these days and HSBC couldn't give a carp about the loan or its homeowners.
Jim
Florida,Who Agreed To An ARM?
#4Consumer Comment
Mon, February 03, 2014
YOU were the one who agreed to an ARM. So how is it their fault if you made the wrong decision? Did you even bother to read what you were signing?