JS in Maryland sends this update: “The saga continues. Got a 2 page letter from Theres A. Nicchia, vice president, Customer Resolution Department at HSBC. The second paragraph is full of inaccurate statements such as the amount borrowed was $329,806.31 ( when it was really $324,998.24 at an interest rate of 8.44). This amount was also verified by another employee of HSBC. The letter also states a modification agreement was executed (never heard of that)
The letter also states how the collection department maintained consistent contact with us. (Wrong, we were the ones always calling them! They also deny being contacted by a third party regarding a short sale.

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MM in Pennsylvania said: “I lost my job in August of 2008 and struggled to keep my mortgage payments on time up till now, December 2008. I called Beneficial several times and wanted to talk to them about deferring one payment and was denied after an approval from one person who I got disconected from (fishy). The next calls were about the HSBC / Beneficial hardship program but apparently they don’t want to help you unless you ruin your credit first. I would think it’s in everyones best interest to prevent problems rather than try to fix them after the fact. I am so frustrated I don’t know what to do but scream. These people are more criminal than a drug cartel.”

LL in Florida said: “I’m currently going to court for the second round with HSBC mortgage services. They are crooks in the mortgage world crying out they were taken advantage of by being sold faulty mortgages, BS, they are greedy and unethical. My mortgage payments were held and not posted until they incurred late charges every month, racking up on fees. They are stone cold liars. HSBC was required to pay taxes and insurance on the property and never did, and I found out the hard way. Hopefully HSBC will go under, but probably not. They will screw America and then go home when they are done!”

SK in Illnois said: “I have a first mortgage with HSBC. I always pay my bills on time. Usually, five business days before they are due. HSBC was stalking me for my October payment - it should have been in their hands so I waited until the end of the 15 day grace period until paying a second time on-line. Magically, both payments were processed on that day. HSBC credited the second payment for November. I mailed the December payment 5 banking days early. Three weeks later, after the grace period, they called saying that it was not recieved. It is hard to believe that they would hold payments without processing them. I think it is a scam. Has this happened to anyone else?”

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AG in New York said: “Applied for an HSBC mortgage loan at the end of Sept 08. Its now mid-December 2008 and we still have not closed. Paperwork was lost, no one ever called me, appraisal was never ordered, employment was never verified, processors don’t answer phone or emails. 2 months and still going for what was supposed to be a quick close. Extremely frustrating.”