DS in Michigan said: “Have tried unsucessfully to get help from HFC 111/HSBC on our mortgage. After my husband suffered a series of strokes and filed for SS Disability we asked for help to reduce our mortgage payment. We were given a 6 month hardship…HSBC would not renew again.
Then after many months and now more than 90 days late on payments and requests for modification we were given a modification that gives us a mortgage rate of 8-3/4%…which is what our original mortgage listed we should have after 5 years..We started at 10 1/2%. Our payments have been reduced from $1754 to 1554…leaving us with about 185 to live on.
These payments are not sustainable. No one wants to help..phone calls from morning till night. All they keep telling us is to call HUD…they don’t participate in any of the government programs…they don’t have to because they didn’t take any government money. We don’t qualify because we have a conventional mortgage…Where do we turn for help?
We now owe $201.000 on a mortgage that started out at 168,000 seven years ago.”
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