HSBC / unconscionable practices!
Due to work injuries, I have been unable to work since 2004, I was receiving long term disability from my company however that stopped in Dec. 2007, so I have been without income since then and my mortgage fell behind. I had stayed in contact with my mortgage company explaining my situation. For a month and a half, starting in February, I found that I could get a hardship loan from my 401K but I needed specific paperwork from the mortgage company to do this. After a month and a half, I finally got the right paperwork to send to 401K. In the meantime the mortgage was now 4 months behind and HSBC had me served with foreclosure papers on March 16th, and has charged me $1680 for attorney fees that had to be paid before the mortgage payments or they would continue foreclosure proceedings. Now if I can't pay my mortgage, how in the world am I suppose to pay this outrageous fee for an attorney? They're practices are unconscionable! Even though I had been working with someone in their collections department for almost 2 months, they still started foreclosure proceedings, and have charged me an exorbitant amount of money for attorney fees! I had unforeseen financial problems arise, therefore I took out this mortgage for more than my house was valued at, therefore the interest rates on the first and second mortgage are high, and there is an adjustable rate that keeps rising every six months or so. My house payment is now $1350 a month, which is not helping my situation. There was an early payoff fee of $5000 if I refinanced the mortgage when I was able to, so this deterred me. They also tried to charge me 3 times the amount of my annual property taxes and held a payment in their possession until my payment was late and reported me to the credit bureau. This company needs to be stopped from doing wrongful things to the public. I need help! I don't want to loose my house, but I can't keep paying these fees and high rates!
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