“My husband and I refinanced our home through HSBC less than 2 years ago. Both my name and my husband’s name was on the loan, and we specifically implied, and were assured that the real estate taxes and the insurance would be included in the mortgage -it was the reason we wanted to refinance in the first place. Both of us signed the loan papers. A couple of months later, I had a question to ask HSBC, and when I called them, I was told that they could not speak to me at all, because my name was not on the loan. They had removed my name from the loan, without telling us about it. That was the first thing they did to us.We had been with them for a few months by this time, and we kept getting notices from our real estate taxes, saying a large payment was due, but that if our taxes were included in our house note, to ignore the letter, which we did, because we were assured that our taxes were now included in our note. We called them to make sure, and they said Yes, your taxes are included in your note. After over a year went by, I called, and found out that they had NOT paid our real estate taxes that they were supposed to be paying all along. We called to throw a fit, and were told “Oh, sorry - we found out after you signed the loan that we just couldn’t put both the taxes and the insurance on the mortgage, so we just put the insurance.” Strike two-they took my name off the loan, and now they didn’t pay our taxes!

We had to go pay almost $2,000 cash in overdue taxes by that time! It gets worse. A month or so after that, we got a phone call asking us about insurance, saying we had not had any coverage in nearly a year! So, they had taken my name off the loan, then they didn’t pay our taxes, OR the insurance that they were supposed to include in our monthly note! By this time, we were trying to find another company to refinance our house yet again, to get away from this nightmare company HSBC. We had no luck because they’ve ruined our credit of course. Now we have yet another problem with them! I have never once been late on my payment, or not paid a note. They called us weeks ago and said that we missed a payment in December. That was a total lie.

We found the receipt and faxed a copy to them, and were told that it was all taken care of now. Well, today (March 27), a couple of months later, I got a phone call saying the same thing-no payment in December, even though we had faxed them the receipt, and they said it was all taken care of. My husband called them while I was at work, and was told that they are sitting right there looking at the receipt, but that they received it late (it was mailed on the 28th of the month-plenty of time to get there by the 1st of the next month!). They said that they were HOLDING THE PAYMENT, not applying it to the bill because they received it late, even though it was mailed in plenty of time. They now say we owe them close to a thousand dollars in late fees, even though they have the payment in their hands!

Even if it were late, it still would have fallen in the 5-day grace period! And if, by some odd reason it didn’t, then why didn’t they just apply a few dollars late charge to the next bill? Why are they STILL holding our payment, refusing to cash it? Why are they ruining our credit like this, when they have our payment? My husband is so stressed out over this that he has been throwing up and missing work! Something needs to be done about this company, as I see by Googling it, they have had many other very similar complaints like ours against them! I’m shocked that this company is still in business!”