MG in New York said: “I have been paying mortgage payments to HSBC since 2002 when I refinanced my home mortgage. In early 2008, the bank sent me a notice that my property tax increases had caused the bank to require a lump sum payment or an increase in my monthly payments. They requested a lump sum “shortfall” payment of $1,240 in order to balance my escrow account. I sent them the check for the $1,240. The very next mortgage statement was received, acknowledging the lump sum payment as my “escrow shortage payment” —but now asking for an additional $69.05 per month. This changed my payment from $2,634.21 to $2,703.26.
Archive for the Category »Escrow Issues «
MS in California says: “Since I have had my HSBC loan for four years now I have had late fees due to missed distributions on their part. HSBC lost my homeowners insurance due to them not paying my homeowners insurance. My taxes have not been paid. I have faxed letter after letter to several of their departments in regard to their errors in my mortgage loan. HSBC does not do any thing right. The left and the right don’t know what they are doing. Every month they make some kind of mistake on my loan. I have to watch every step they make to make sure they don’t mess up. I have letters and copies of all faxes and complaints I have sent them. At this point I ready to file a claim against them. If I could I would like to file a class action suit against company. My two daughters in law and my daughter work for a mortgage company. They say HSBC is not doing their jobs right and we could sue them.”
The following complaints about HSBC, received from individuals around the country, should be considered as allegations only. We make no effort to investigate the validity of complaints submitted by customers and non-customers. Instead we monitor complaints such as these for trends that can be verified, just as we did before Household International was charged with predatory lending. Similar complaints from different states, where the people are unknown to each other, often lead to discovery of trends.
Category: Auto Loan Issues, Credit Report Issues, Documentation Issues, Escrow Issues, Foreclosure Issues, General Issues, Insurance Issues, Interest Free Issues, Merchant Issues, Military Issues, Mortgage Issues, Online Issues, Payment Issues, Privacy Issues, Rudeness Issues, Savings Issues, Watchdog Issues
Leave a Comment
JO in Georgia says: “I live in Georgia and after HSBC took over my loan my life as a home owner has went to hell. Right after I refinanced in `04, HSBC took bought my loan, forgot to pay my escrow and from that my payments went up over $200.00 a month. I have owned my home since 1995 and was never late, paid my own insurance and taxes and never had a hitch. After they took it over, my insurance, due to thier neglect, went from 450 a year to over 1500 and they will not talk to me about it. I lost my insurance company and had to find another to get thier insurance off my loan.
Category: Escrow Issues, General Issues
2 Comments
MK in Tennessee sent us this shocking report about HSBC:
“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!
