A Center for Responsible Lending (CRL) study found that one in five subprime loans issued during 2005-2006 will fail, with over two million homeowners at risk for foreclosure as a result.
Archive for » April, 2007 «
Category: General Issues, Watchdog Issues
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FP sent this report: “I opened an account with Beneficial HSBC Group, by depositing a check they sent to me. The check cleared my bank account, and Beneficial HSBC Group sent checks for me to use. I wrote checks on the account that cleared, however, I was called by a representative to come in to signed the loan agreement. The representative had the wrong documents, and had to reprint the correct ones. I asked her if I was signing documents on the account I had with the check I deposited, and she said yes.
Category: Check Issues, General Issues
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This project has been discontinued. Thank you for your understanding.
Category: General Issues, Mortgage Issues, Watchdog Issues
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GG in Virginia gives this analysis of HSBC savings accounts: “I just looked at my statement on my internet savings account with HSBC. They withhold 28% federal income tax from my interest which drives the advertised interest rate of 5.37% to 3.87%. I am in the 15% marginal tax bracket. I realize I will be due a refund at tax time but I am losing a lot of money as the withheld taxes are not drawing interest, at least not on my behalf. Those funds are drawing interest for HSBC.”
Category: General Issues, Savings Issues
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RZ says: “My contact with HSBC was through Lasser’s TaxAct. To get their 15 dollars fee TaxAct recommended I sign up with HSBC for a service fee of 15 dollars. This way I pay HSBC 15 dollars so that they can pay Lasser’s TaxAct their 15 dollars; a total of 30 dollars. The other option was that I pay TaxAct their 15 dollars through a credit card. It was late and I was tired when I filed my taxes with TaxCut and I endorsed their recommendation for HSBC, and now it cost me 15 dollars to pay 15 dollars. I don’t believe the endorsement was fair. In fact I believe it was vague. “
Category: General Issues, Tax Refund Issues
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