Ds in Kansas said: “We refinanced with Beneficial in April of 2004. When they came out to appraise the house the car pulled up and some “dirty” looking man got out and did a little measuring. Didn’t even pull the measuring tape out to the full extent of the room. Ran through the house, outside, etc. In a old black car was a lady sitting in it with a small dog in her lap. I went over to talk to her and she said SHE was the appraiser and her husband was doing the work.
I thought that was kind of odd. Anyway, they appraised it at $180,000.00 and that’s what Beneficial said we could borrow. Great. We were going to be set up on pay every 2 weeks and that would make us have our house paid off in 23 years instead of 30. Each time we made our payments on time for 12 months our interest would go down. Well, that worked for a while, but then with our paychecks it seemed to hit at the wrong time. Money coming out of our account.
So back to the closing. We went in for closing and found out that they tagged on $15,000 for closing costs. Mind you we never got anything in writing, good faith estimate, etc. Maybe that was our fault, but we just never dreamed they could do that. Our gal that we worked we did say in the begining that our closing costs would PROBABLY run around $5000 to $7000.
We just assumed they would take that from our $180 we would be receiving. By the time you are sitting in closing, signing papers, and then they spring this on you, you’ve already got the money promised to others to pay off bills. So, they tacked on the $15,000 to our $180,000.00.
Then when we kept getting our statements they said we had deferred interest that would be due when or if we sold the house. I called a lot to question them on this and got a different person each time with different answers. When I would get someone from India I would simply say “I DO NOT want to talk to you I want an American. They would always transfer me to California, wherever.
I might say we had a VA loan and lived in the house for 11 years before we got sucked in to this loan (our own fault). Yesterday was our 15th year anniversary in this house with lots of memories, lots of hard work to make it look great and now we are facing forclosure.
When I would call and try to work something out they would say we were put on hardship but we didn’t make the payment in time to qualify. Which I know was a lie, since I called the payment in on the phone. Then I found out we were on simple interest and if you didn’t make the payments every 30 days none of it went to principle. Didn’t know that either when we signed.
I spent countless hours on the phone talking with different people telling me different things. One guy told me we didn’t have time to even do a short sale so we might as well just turn the keys over to them. Didn’t go for that and started talking to a Realtor who is experienced in short sales, etc.
To date we have our house up for short sale, we owe $199,900.00 now on it and I am sick to death of HSBC. I really wish someone could sue their socks off for what they have done, especially when I see these complaints that are so similar to mine.
We are just sick that after 15 years we are loosing our house to these monsters. We will have to lease now and we are babyboomers with less than 10 years to work.
One more thing, the reason we got behind was because my husband was laid off after 9/11 and then again in March, 08. Go figure!”
Related posts:
