Household HSBC Watch

How bad are foreclosures at HSBC Finance? I thought people were getting a lot of phone calls, judging by the reports and complaints we receive. Some idiots, like NovaStar, were calling home owners early in the month, even before the payments were due. I thought these subprime lenders were checking to see if the person even lived there any more. Add HSBC to the list of offensive idiots. “They also call me at work and ask me when I am making my payment. I tell them my payment is not even due yet and then they ask me if I intend to keep my property?” (see full complaint)

With NovaStar the company was obviously trying to figure out if they were going bankrupt. Now HSBC seems to follow in their shoes. How offensive and stupid can you be? The payment is not due yet. You credited other payments after the due date. You call the homeowner at work. And then HSBC asks the person if they are planning on keeping their home? If HSBC credited payments in a timely manner - like the day the payment is made - this particular homeowner would never hear from HSBC. However, there is a big difference between Ocwen, Wells Fargo, - just about everybody for that matter - and HSBC.

How bad are HSBC mortgages in the United States? What would happen if HSBC actually bought Morgan Stanley or Lehman? Would a new class of people be subjected to these tactics? I don’t think many people would tolerate it for one day!