Complain about a product or service

HSBC Mortgage

Monica of Cincinnati OH (07/17/08)
My complaint regarding HSBC Mortgage Services predatory lending practices regarding collections as well as check and balances regarding my account; deceptive mortgage practices, the company failed to post borrowers' mortgage payments on time, when a lender silently accepts payments for several months without notifying the borrower the payments are insufficient then scheme of penalties thereby increasing borrower's indebtedness; HSBC uses dishonest or abusive debt-collection practices, charged unauthorized fees, unwarranted fees.and imposes additional fees on consumers, a process that could result in foreclosures;

I am contemplating filing for Chapter 13 bankruptcy protection, a process designed to help debtors repay what they owe over months or years; HSBC Mortgage Services is untrustworthy. I willing provided several payments during the time I was extremely ill and pulled from my medical payments just to pay them and that was under coercion from their customer service representatives.

It appears that HSBC Mortgage Services is unwilling to work out an amicable repayment solution regarding my mortgage payments referencing the unapplied payment of $1,225.60; I feel at this point in time, I am in need of legal assistance due to HSBC Mortgage Services failure to ensure the accuracy of its claims which encompasses fees charged to borrowers are often poorly identified, making it impossible to verify if such charges are legally permissible or accurate, Are these practices legal under the housing laws and consumer protection laws?

Adverse credit score, affecting my physical and emotional health, incurred financial hardship due to predatory lending instituting excessive fees, account is not correct. This is the worst lender I have every had.

Donna of Pittsgrove NJ (03/10/08)
I felt as if I was a target of HSBC, so I must say I feel a little better knowing their incompetence is not just directed to my loan. Our loan was purchased at the beginning of 2007, after a long and difficult period with another bank. I am very careful to pay this loan on the due date and over the phone as this loan was in foreclosure and we had worked very hard with the other bank to bring it back current.

Beginning in September, and with their automated system, the incorrect amount was pulled from my checking account leaving the payment in limbo, not being posted anywhere and causing me to be behind one payment on the next statement. After several attempts to find out what happened, we corrected the payment and the late fee was made. I made another payment over the phone with a person and because I used a different checking account, and the person didn't change the routing number, the payment was returned account not found, and so began three months of mess with me finally writing a letter to make someone understand.

I thought this was corrected when I received a letter of apology in January, but now, after receiving 3 statements asking for just one payment, I received a phone call from their out-of-country collection service telling me I am a month behind due to a missed payment in October! I tried to fix it with one phone call. They sent me a letter telling me they set me up with a hardship payment plan and skipped two months worth of payments. Can you just believe that! I wasn't a month behind, I just wanted to pay February! I again wrote a letter! I'll let you know how it goes!

Words can not describe the frustration. This company causes me to lay awake at night! I do not have this with my first mortgage, Wells Fargo!

Jason of Vernonia OR (03/05/08)
I have made my monthly payments starting in March of 2006 each and every month. HSBC is now stating I am two months behind. I have sent them all the proper paperwork from my bank supporting these facts, have made over 50 phone calls and HSBC will not remedy the problem that is now affecting our credit to where we are unable to re-finance our loan and also have over $1000.00 in late fees that HSBC states we owe. We are at our wits end we don't know what else to do.

Our credit has been damaged, fees incurred time and energy put into trying to fix this problem that is not of our making.

Harold of Broomall PA (12/27/07)
I inadverdantly wrote a check for thirty dollars less than the correct amount for my mortgage, $960ish as opposed to $990ish, and hsbc parked the money in an unapplied funds account and sent me notice that payment was short and that I must pay immediately, or a mark would appear on my credit. Well, it did. I received word that negative information was reported, and my credit was being curtailed. I appealed to hsbc, but was denied. A second appeal yielded better results, a reversal or removal of the mark. Coincidentally, I was perusing the mortgage document the other day,and on page four of the hsbc mortgage, there is a section called application of payments or proceeds, which clearly states the application of funds received. It would appear that hsbc violated the terms of the contract when they put the money in an unapplied funds account, instead of interest, then principal, then other obligations.

So far, in it's infancy, t has caused me to pay higher interest rates, and a minor reduction in available credit.

Barbara of Augusta GA (11/30/07)
In an attempt to bring my mortgage payments current, after an increase in December, 2006 (ARMS Loan), I sent two payments for $766.33 on 02/23/07 & 03/02/07. However, the total amount of $1,532.66 was placed in an Unapplied Funds account, and my mortgage account was allowed to accrue 'Unpaid Late Charges/Other Fees' due to this 'clerical' error which exists, to date.

I am in a financial dilemma due to the fact that I am faced with another mortgage increase in December, 2007! My credit ratings have been adversely affected, and remains a hindrance to my acquisition of a fixed rate loan.

Stephanie of Los Angeles CA (06/18/07)
I requested two months of payments to be processed. Both request were ordered on the same day but to be processed on different days. They accepted one and rejected the other saying that the account was closed (even though both drafts were from the same account) After speaking with them for 4 hours and 9 employees later, they realized there was a glitch in there computer and because I was requesting two payments, it (the computer) could only recognize one and therefore rejected the other. Sounds like @#%! to me but heres the problem. They were ready to charge me late fees and processing fees that occured because of a problem they created. I told them no way. They said okay they would reverse the fees and make it look as though I was not late. My bank agreed to verify account balance and activity with them but they chose not to. I had to ask them for a letter of apology and the response from the manager was sure in a very, very, sarcastic tone of voice.

Olga of Rancho Cucamonga CA (01/27/07)
My husband and I refinanced our second mortgage to access some equity and HSBC bought the contract back in October of 2005. This company has been a complete nightmare they resort to bullying children by telling them if their parents don't pay their mortgage that day they will be on the street. Mind you the payment was not late but maybe 2 days into the grace period.

They have posted all of our payments when they felt like it rather than when they were actually made. A false late payment of over 30 days past due was put on our credit and there is nothing we can do. Today Jan. 27th, 2007 11:00 AM I made my house payment three days before it could actually become late and their website would not allow me to post it before the 30th but it still would not be late so I went ahead and made it.

A phone call was made to my house and my husband answered and the person on the phone proceeded to harass my husband asking for personal information and then told him that he needed to change the payment to today or his account would be in collections. My husband was confused since we are not a month behind. He told him we are not late they answered you change your payment to today and everything will be ok my husband responded no it has already been done on line and we don't want to be charged twice . He handed me the phone I told the man on the phone that we had a grace period and it was our right to use it and that their website would not allow me to post it before Monday.

 I know he said but you must change the date with me on the phone to today or it will go into collections. At this point I became very angry and told him not to call my house again to threaten me that he had no right. A supervisor I believe called the house immediately after and threatened me with recalling my mortgage because of my attitude. I am fed up with this company -- from the beginning of our loan our statements have shown as if we are always a month late which has never been true.

Mark of Casselberry FL (12/23/06)
They are not applying our payments correctly. They are stating we are past due, but this is because they are applying one of the payments to principal. We are not doing this, nor have we indicated in our correspondence that the payment should be towards principal. I have my payments coming from 2 different checking accounts and we are dividing the amounts equally.

They are getting 2 checks for each account. One check under the name of Mark F. W and the other check under the name of Maria A. I asked them to please remove any late charges and correct your internal error. I am certain they must get payments from 2 different accounts applied to 1 mortgage payment frequently, and this has never been a problem until recently. So, then they send us a letter on 11/27/06 saying it has been fixed and then we get another letter saying they are investigating it!?! Now we are back to square 1. They are saying we owe about $2000.00 and we don't! They just don't know how to apply the payments and have untrained people handling their money.

It's putting incredible stress on us. We don't owe this money to them. They need to hire people that can add, subtract, and divide. We have never had a problem like this with our previous mortgage company and we don't want it to affect our credit because of THEIR error. I am in the mortgage industry and know how the system works. Their customer service personnel won't let me talk to a supervisor so I have sent them 2 letters now. It's frustrating that these people deal with millions of dollars and can't figure out how to apply payments. I'm tired of contacting them every month.

K. of Watsontown PA (11/13/06)
I got my first mortgage with a small company who immediately sold it to Household. Over the past four years, I have realized that signing anything with these people was the biggest mistake of my life. When I got behind by two payments and tried to reason with them and even sent them one payment, they returned it. I was forced into foreclosure, so I filed for Chapter 13 to save my house. Even though the late payments and all of their outrageous legal fees were covered in the bankruptcy payment plan, and I continue to make my regular payments directly to HSBC my balance is even higher than the original mortgage that I took out four years ago. Also, with the adjustable rate, the payments keep going higher and higher. I never get a statement, just a notice that the payment has gone up or is going up.

I don't know where to turn. I can barely make the payments. My bankruptcy payments are taken right out of my paycheck. Every day, I worry that I will lose my home and I can't sleep at night. I thought that filing bankruptcy would help me to keep my home, but HSBC seems determined to take it away from me, no matter how hard I try to meet their demands. I work full-time and take care of my disabled daughter and disabled mother. HSBC is starting to take a toll on my health as well as I suffer from anxiety attacks now.

Dorothy of Elizabethtown PA (10/24/06)
In April of this year, I received a late notice from HSBC for a mortgage payment which I had paid. I called HSBC and learned that they had received the check but for some reason had posted the receipt to my escrow account instead of to my mortgage payment. They assured me the problem would be taken care of, so I paid no further attention to the matter until recently when I learned that they had reported my payment as late to the credit bureaus. I called them today and they are unwilling to correct their error because they now say they have no knowledge of the payment in question being posted to my escrow account.

The negative impact on my credit report will affect my abilifty to obtain competetive loan rates in the future.

Carol of Highlands Ranch CO (10/08/06)
Hsbc continues to practice what I deem as unethical. I made a payment on Friday Oct 6th 2006 at 6:50 am. I clicked on the date of payment to be 6 oct. When I clicked submit, they changed the payment date to the 9th of Oct.This caused my payment to post as late. This is not the first time I think they have done this. But as some of their practices do not seem ethical, I am starting to watch them. But once you click submit, you can not change anything, other than submit another payment.

They continue to raise my interest and charge outragous penalties.

Betty of Raymore MO (03/16/06)
I was billed for insurance when I already had it on the property. I sent the information to them on more than one occasion. My husband talked to them about six months ago and they said they had the proof and they would fix it. They continued to still bill me for the insurance. I called in January again and they said that I have to wait until the company refunds their insurance acct and then they will stop billing me. Just Monday, March 13, this had not been even started. So, I am forced to pay the extra insurance and if I don't they report me to the credit bureau.

Also, with this loan, there is a rollback feature, meaning that if you make your payments on time for 3 years, your interest rate drops in the 3rd, 4th, and 5th years. I called in 2004 to have this done and it has not been taken care of. When I called this week they said it had to go to their research department. I feel really in a lose lose situation with this company because I am being overcharged now, not only for insurance, but for my interest rate. Which to me means that my interest paid that I report on my taxes is or should be wrong, because I am being charge the wrong interest rate. I think they should have to compensate me for as much of money they are holding and charging me wrong.

Adedokun of York PA (03/11/06)
i have a mortgage that was purchased by HSBC from the company that originally sold me the mortgage. The terms and condition of the loan clearly states that the amount of monthly mortgage paymeny, also vlearly stated on all documents, include all taxes and insurance. This is the reason I decided to do business with the company after shopping around for an arrangement that would fit my budget.

But HSBC now decided even without consulting me increased my monthly mortgage payment from 1373 to over 1600 dollars. They obviously did not want to honor the existing terms and conditions in the note they purchased. They have in effect create new terms and conditions to which I am not a party. I have written them that I am ready to go tocourt on this matter. I will continue to make payments in accordance with what is contained in my mortgage note. I believe what HSBC has done is illegal

Sheryl of Tampa FL (02/01/06)
I refinanced in January, 2005 - I requested that my payment date be on the 1st because I am retired. I get several phone calls on the 1st of every month requesting I make a payment. I am not considered late until the 15th of the month. It is very upsetting to me when I know my mortgage is my first priority and I have said this serveral times. I spoke to a floor manager by the name of Ms. Kanthi K on 2/1/06 around 4:30 pm. I explained the problem to her and since then I got 4 more calls. I think I made some one very angry and they decided to get back at me and put my number in the system.

At this point I am taking this very seriously. In no way have I played games with this company. I am a retiree and I make it clear to all of my creditors that all of my payments are made on the 1st. What am I doing wrong? I started receiving calls today 2/1/06 at 12:10 pm. Since that time I have gotten calls at 12:38, 12:49, 1:48, 2:44, 3:59, 4:48, 5:11, 5:44 pm. It is now 6:45 pm - last month the last call came in around 8 pm.

Royl of Anaheim CA (12/07/05)
My mortgage payment was $1,987.32, they increased it to $2,379.32. The amount increased was $392. This action was taken with out my concent,and out of contract. I signed a two year fixed rate, no matter if it was sold on the secondary market payment should not be affected. They call me and harrased me regarding my monthly payment, which I refuse to pay. Unfortunately I can only retrieve their P.O. Box address I hope that it will be of any help.

The damage is an extra $392 a month will total to an extra $4,704 a year. I do have a family, I provide for.

David of Dayton OH (09/21/05)
I have made the following payments on my second mortgage: September 8,2005 $583.12 Cleared Bank September 8,2005 $67.00 Online payment due to company spokesman stating that i owed more money. Paid and amount not credited. September 13,2005 paid $58.00 through there online service. Again payment not credited. Now I have overpaid them for my August payment and have received several calls per day from them trying to collect my payment which I have already made.

Once they look at my file they say.....OH your payments are in the research department and we do not now why the payment has not been credited but promise to not call anymore. Then the next day I get bombarded with phone calls from this company starting this all over again. I am not behind on my payments but am concerned about making this months payment. Also when visiting their website the balance as well as the payment amount due etc never match my monthly bill.

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