Household HSBC Watch

Where will HSBC Finance be, and their customers, as the economy deteriorates? Does HSBC have any hope for homeowners in the North and Northeast as oil prices skyrocket? In Nymex trading on June 27th, heating oil futures rose 0.71 cent to $3.8905 a gallon while gasoline prices lost 0.68 cent to $3.5045 a gallon. How many more homes will HSBC foreclose upon by winter time? One must understand how HSBC Finance thinks. HSBC takes people to the edge of their budget and puts the borrower in a loop of high-interest. A false sense of security for homeowners means HSBC builds up interest, legal fees, and any other built in charges before a home goes into foreclosure. But HSBC did not count on high gasoline prices, and thus high heating costs for the winter of 2008-2009.

Now we see food costs climbing and the stock market dropping. Bush’s “tax rebate” failed to perform designated magic tricks. Data suggests real people spent the money on gasoline, utilities, past due expenses, and food. What I want to know is how many of HSBC’s customers spent some of the money on credit counseling and a bankruptcy attorney. Others undoubtedly spent no more than the cost of a stamp to mail HSBC the keys to their home. Here is a flow chart:

1. Customer moves to an apartment before their credit gets too bad to get an apartment
1a. HSBC tries to get the customer to believe help is forthcoming, thus trapping them in the home

Did you expect more? There isn’t any more. You snooze with HSBC and you lose with HSBC. End of story.