RM in New York said: “My finace’ and I too have been the victims of HSBC/Beneficials predatory lending practices and are NOT receiving any cooperation from them in resolving the issue. We were lied to by a representative stating that the extremely high interest mortgage we were getting was only temporary and we were in the perfect position for a “program’ that are coming out with.
We are intelligent people and somehow fell into their trap, although it took them multiple visits since we walked out of the first closing due to the conditions changing.
I just wish we stayed away, but hindsight is 20/20. Well, needless to say, 1+ year later(maybe even 2 by now), we attempted to negotiate a reasonable interest rate due to the economy abd loss of income, we were unsuccessful in this venture and decided to hire a legal firm to assist.
Within the first month, Beneficial dropped the rate by less than 1% for us, which didnt hel at all, they have now been at it for 5+ months, only to continually have Beneficial request the same paper work time and time again.
If they persist in dragging this on any further, I am going to go on a media blitz, using the internet email and phone (they are so ‘private’ I am having problems finding email/phone numbers, so any help would be appreciated) additionally, I am going to confront a lawyer regarding a class action against them for predatory lending practices!
Any thoughts or advice would be greatly appreciated, especially if someone has already been through it.”
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