MC in Pennsylvania sent this update: “Update to last post on April 24, 2009. The plot thickens. Since then I received info in the mail from HSBS/HFC/Beneficial to attended another seminar to avoid foreclosure.
My husband and I attended and ran into another HSBS rep who was at another seminar we attended in Delaware. I told her didn’t get no help at the last one so hopefully I can get help here, yeah right! The gentleman I’m dealing with by phone, Larry, who I believe works for the loss mitigation department called me today.
I advised him that since our last conversation which was end of April I applied to PHFA for a hero loan and also ACORN which is an organization that detests HSBC.
The seminar was a joke for me anyway since the rep we met with spent all of 15 minutes at the most. Considering my husband lugged two laptop bags filled to the brim with paperwork concerning HSBC.
In a nutshell this rep looked like he couldn’t wait for the conversation to end. The end result was to tell me that he would take the info back to see if someone could do something about getting the payments more affordable.
While I was there I showed him a letter sent on behalf of HSBC to us from an attorney which amounted to a demand letter stating that if the full past due amount is not paid within 30 days they would foreclose. This rep at the seminar told us this was sent in error and to disregard it.
Larry from HSBS said oh no it is legit. I said OK the right hand doesn’t know what the left is doing. Other than talking about the same S*** we talked about before for the next 45 minutes I said OK, where are we going with this.
I’ve got 4 pmts of $850.00 in the bank and realize that pmts of $850.00 are a little less than 1/2 of my regular mortgage payments but just so you know I am putting the money away. I told him the only other update I have is that my car accident case will be going to court in the very near future since I need to go over depositions with my attorney in June or July in preparation for the court date.
We rehashed putting the house up on the market, bankruptcy and sending in two standard payments of $1724.19 (this is the amt of my mtg. pmts.) which will bring my account current. Of course when the next pmt becomes due in June I’ll have no way to make the payment.
I then told him what the last person from loss mitigation told me when I asked about extending the loan, “they don’t like doing that with older people.) I also told that to the HSBC rep at the seminar we attended in May. I said I think that is a little discriminatory, don’t you think. Any wonder why this man wished we would go away?
Getting back to Larry, I then asked why is it that the company is so stubborn about extending the loan out another 5 or ten years. The answer, We support all the programs the president and government is doing but those programs are for FHA, VA loans,which yours isn’t, also if we extend then you could still end up not being able to afford the home anyway.
I wanted to say DUH if the loan is extended which would result in a more affordable payment we wouldn’t have a problem making the payment. Of course let me say that at this seminar they were modifying loans.
I’ll give credit where credit is due. I spoke to some HFC mortgage holders who got rates down to 5 % who were holding interest rates at 10 or 11 % so some people did get help but not me since my rate is at 6.125 dropping down to 5 % isn’t going to make my payment much lower.
I’m not sure what it is going to take for someone within this company to realize that my condition is not permanent therefore I’ll be working eventually and a modification of the interest rate won’t help and the only option is to extend my loan.
One thing is for sure, I’m still taping every conversation and I’m about to embark on a letter writing campaign and mass mail my letter to everyone but the floor cleaners at HSBC until I get someones attention within this company that has half a brain.
I’ll send another update when and if I hear anything. Hopefully I’ll still have a roof over my head and won’t be sitting in a cardboard box on a street corner.”
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