• Report: #150615

Complaint Review: HFC, HSBC

  • Submitted: Wed, July 20, 2005
  • Updated: Wed, July 20, 2005

  • Reported By:hampton Virginia
HFC, HSBC
Coliseum Dr Hampton, Virginia U.S.A.

HFC, HSBC Mortgage ripoff inacurate credit reporting Chicago illinois

*Consumer Suggestion: Go to the courthouse Look at the Deed of Trust

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I took out a loan with MBNA that was acting as a broker for HFC. After 3 years my loan has never decreased, the interest rate is 26% after they told me it would be 12%. They told me it was a 10 year loan but it is impossible to pay in 10 years. My balance has decreased by $500 in 3 years but that does not include the fees that they added on. The real payoff is $28,000 for a $10,000 loan that I have only had for 3 years. When I found a company that would pay it off, HFC did not provide them with the info need to settle the account so the took back their loan offer. So I am stuck with this HFC loan. The class action suit did nothing. They are still killing people slowly, the stress and depression associated with dealing with them is a death sentence. I pray everyday that this will end and I can keep my house.

Keja
hampton, Virginia
U.S.A.

This report was posted on Ripoff Report on 07/20/2005 05:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/HFC-HSBC/Hampton-Virginia-23666/HFC-HSBC-Mortgage-ripoff-inacurate-credit-reporting-Chicago-illinois-150615. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Suggestion

Go to the courthouse Look at the Deed of Trust

AUTHOR: Robert - (U.S.A.)

Look at the Deed of Trust for the HFC loan. More than likely, you will find a forged Deed. This is what I found when I looked at mine. If it is not your signature, they cannot do anything. They actually "charged off" my mortgage with them. They know they cannot collect in any way on the loan.

This is also why 50 State Atty Generals sued them and why HFC pled GUILTY ON ALL COUNTS when it went to court. Do yourself a favor and get a copy of the deed that is registered in the Deed Vault.

Mine was forged by the Notary after the closing. She threw all of the correct paperwork in the trash and redid everything. The interest rate went up and it was turned into a simple interest loan instead of an amortized mortgage. The reason she did it is because HFC pays the closer off the back end of the loan.

The higher the rate, the bigger the paycheck. You do not need anything special to look for your Deed. All Vaults are the same. You can find every Deed you ever signed by using your name in the search book. Very simple way to find out if HFC gave you a "Grant" instead of a loan.

For all you experts out there who think I am wrong, HA! It's been over a year since I paid them anything. Before that last payment, it had been 6 months. I tried to be nice and asked them repeatedly to send me copies of the paperwork THEY had to no avail. They played their games and I beat them at it. My attorney is currently suing them for every penny plus some that I paid them for their fraudulent loan. Good luck.
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