Household HSBC Watch

Jose Cantu is all smiles — and why not? He’s holding a document he’s been trying to obtain for years. “You guys did a great job on this after all these years,” Cantu said. “I finally got someone to help us.” Back in 1992, Cantu borrowed $5200 from a finance company and used his Gila Bend home as collateral.

The finance company put a lien on Cantu’s house to guarantee payment. But even after he repaid the loan back in 1997, the finance company never released the lien. Cantu and his family were frustrated. “With his health and the stress it is causing on him, it’s very important that we get this taken care for him,” said Angela, Cantu’s daughter.

I contacted the finance company to find out why they wouldn’t release the lien even though the loan was paid off 10 years ago. After my involvement, one day later, the Cantus received the release they had been fighting years to get. So, what went wrong here? Well, Transamerica Financial sold Cantu’s loan to a company called Household International. They’re the ones who never lifted the lien.

I asked Household International today what the problem was, and they just didn’t have an answer other to say they’re glad the matter is taken care of. Household is now HSBC Finance Corporation.