HSBC - Household Mortgage Service And Benificial Predatory Lending Practices continues even settlement agreement ripoff City Of Industry California
HSBC is a parent company of Household International.
In October 2002, Household International, agreed to pay as much as $484 million to settle lawsuits filed against them for cheating their customers by overcharging them for home equity and other loans. Because the monthly payments were higher than consumers expected, many lost their homes.
The suit accused Household of deliberately misleading borrowers about the terms and conditions of their loans, including high rates and fees, principal amounts which exceed the actual value of their homes, and prepayment penalties that effectively trap borrowers in overpriced loans.
"Predatory" lending is generally defined as charging consumers high interst rates, excessive points, fees and prepayment penalties, often while requiring expensive credit insurance.
Four years later, October 2006, they continue the same predatory lending practices, only now under a new name. I am a victim of HSBC and am about to lose my home due to the predatory practices mentioned above.
I am ready to help put and end to this insanity and file class action lawsuit.
Jan
Yuba City, California
U.S.A.
3 Updates & Rebuttals
Harald
CENTREVILLE,Virginia,
U.S.A.
NO LICENSE
#4Consumer Suggestion
Tue, November 21, 2006
TRY TELLING YOUR ATTORNEY THIS
HOUSEHOLD OR HSBC OF BENIFICAL IS A SMALL
LOAN COMPANY AND USED LENDERS FOR THERE
1ST AND 2ND MORTGAGES BUT YET TOLD THE CONSUMER
THEY ARE MAKING THE MORTGAGE ALL THESE
LOANS ARE INVALID I CURRENTLY HAVE A
SUIT AGAINST THEM IN VIRGINIA AND WOULD LOVE
TO PASS ON ANY INFORMATION TO ANYBODY WHO
WOULD LIKE IT AND WOULD LIKE FEEDBACK FROM
ANYBODY WHO CAN HELP
THANK YOU
Janice
Yuba City,California,
U.S.A.
HSBC Class Action - and the Abritration Rider
#4Consumer Suggestion
Fri, October 13, 2006
If the Arbitration Rider was signed, we may not be able to file a class action law suit . I have sent my loan documents to a lawyer for review. If the report comes back favorable, I am ready.
Stacey
Ottawa,Kansas,
U.S.A.
another victim
#4Consumer Comment
Wed, October 11, 2006
WE ARE 100% FOR FILING A CLASS ACTION LAWSUIT AGAINST HSBC!!! Just name the place and time. I am so sick and tired of these large corporations taking advantage of hardworking people who are just trying to get ahead. I have literally been paying $1400 a month on a first and second mortgage for a full year, and have only gone up in amount owed to this horrible company. I am too losing my home because of them. Maybe, if enough people get together, we can take this company head on!!! Sincerely, Ottawa Kansas ex-homeowner