No HSBC notice of default or foreclosure, but no payments made
LS in New York said: “We were conned into a refinance and harrassed when pyments were late even after I tried to explain the finacial instability. Here is the best part: we have not made a payment since February 2008 and we have not received the NOD!(notice of default)! HSBC did not accept our short sale offer even when we had an offer! We haven’t lived in the property for the last 3 months!! No one knows what HSBC is doing and it is so frustrating!!! They said it would be better if I foreclosed because THEY would make more money that way and not on a short sale!”
Editor’s Note: Here is what’s wrong with this financial crisis. The state attorney generals are asking HSBC for help. The government has a bailout, Hope Now, and other programs. While HSBC claims to participate in foreclosure prevention real people report no help, confusion, or denied short-sale offers. I think HSBC is confused, and bailout money is being used by all banks to refinance their own debt. Little or no benefit is getting to the consumer.
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