I've been trying to get a loan modification from HSBC Mortgage Corporation (USA) with all of my applications denied without any reason or explanation. I asked for a HAMP loan modification but was told they didn't participate in this program and didn't have to! They've offered a 6 month loan modification but the agreement included terms that required me to accept the loan documents as valid and HSBC as my lender?? Why is this included in the agreement? Also, it offered no promise of any further assistance upon expiration and required me to pay all accrued delinquencies within 30 days after expiration of the agreement or HSBC would foreclose.
HSBC has already added a huge amount of fees to my delinquency that they won't provide me with any itemization of these charges. I've sent a couple of qualified written requests requesting details of my loan's accounting and a detail of my delinquency; however, I either get a response that my qwr is not valid or HSBC simply ignores. I did recently get some information about my account that showed HSBC had obtained force placed insurance on my property and let my existing homeowners policy lapse. The force placed premiums are 4x the rate of my insurance policy. HSBC is making my delinquency so large that I'll never be able to catch up.
I just got my notice of foreclosure and hired an attorney to fight my case.
My attorney told me about a class action lawsuit that had been recently filed in March 2012 against HSBC & the insurance company Assurant, Inc. for force placed insurance fraud and was looking for HSBC borrowers who are/were victims of having force placed insurance charged to their loan to be included in the suit. The class action suit was just filed in the Southern District of NY by the law firm of Lowey, Dannenberg, Cohen, and Hart. Here's an article about the class action suit: HSBC FORCE PLACED INSURANCE FRAUD CLASS ACTION SUIT.
The lead attorney for the case is Jeanne D'Esposito and her number is 914-733-7246. Here's the link to her contact details and bio: Jeanne D'Esposito. If you've been the victim of HSBC and force placed insurance, here's our chance to make them pay!! They are looking for victims from any state.
HSBC is nothing but a crook and liar and has to be the worst of the mortgage banks! They led me on in hopes of a loan mod., while charging huge unknown fees and charges to force me into foreclosure. It's time to fight back!!