JB in New York said: “I went through a serious breakup in 2006 and in the middle of this all, I was forced to declare bankruptcy. While doing this I had tried several times to get a hardship or loan mod or some kind of help from HSBC (my loan holder). They ignored me throughout the whole ordeal, except for the foreclosure letters of course. Anyway, not until a few days before foreclosure did they finally contact me.
Funny how that works. They offered a loan modification. I owed approx. 78 k on the principal. I was about 4 months behind on payments. I paid them cash for the 4 months arrears, and somehow my principal was increased to 92 k. I admit, I should have read the fine print, but considering the fact it was sign that day or lose the house, I went along. Now in June of 2008 I was informed that some new legislation passed prevents banks from taking advantage of people like this.
I did some investigating. I requested an itemized list of where 16k of my money went, and HSBC blew me off. Again I requested this documentation several months after…. Blew me off again. I live very close to the mortgage HQ, so I took a trip to the office. When I requested this paperwork (after about 7 months) they told me I would have it in a week or so. I received a copy of my loan mod agreement about 2 months later after many more phone calls. The wrong stuff of course. By this point I am furious.
I demand the paperwork needed and they put in a work order for it. This was on 2/13/09. Today is 3/10/09 and I just got off the phone with them, guess what? They are still trying to find it? What are they trying to hide? Anyway, I have obtained legal counsel and contacted my congressperson and Sen. Chuck Schumer’s office.
I will have them in court. I hope others will take legal action against them. Best of luck if you do.”
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