• Report: #137548
Complaint Review:

Household Mortgage - HSBC Mortgage Services

  • Submitted: Mon, April 04, 2005
  • Updated: Wed, June 20, 2007

  • Reported By:Millersburg Ohio
Household Mortgage - HSBC Mortgage Services
P O Box 9068 Brandon, Florida U.S.A.

Household Mortgage - HSBC Mortgage Services Incompetent ripoff. Unable to enter payments properly Brandon Florida

*Consumer Comment: I have also been a victim

*Consumer Comment: HSBC Needs to be Investigated

*Consumer Comment: HSBC Nightmare

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I went to a local mortgage broker whom I had know for some time thinking I would be set up with a reputable mortgage company. Well was I wrong. I had just been ripped off by the infamous "Gibson Trust" in the recent past(in another entry).

The whole idea of this consolidation loan was to get out of debt in 5.5 years and maybe someday retire. I was making payments with a substantual principle payment when after the first month the loan was sold to Household Mortgage.

Trying to get them to enter my payments from that time on has been a nightmare. They stuck me with a 6% prepayment penalty for 2 years. I have been played every trick in the book to try to modify my payment or even to refuse any extra principle payment, sending my check through with only the payment taken out when it was made out for the normal extra payment or not even send me a statement, then when I went online to make a payment, they will only accept the minimum payment and no extra principle.

One month a very helpful customer service person told me to send my check to another address where it would be "hand entered" and taken care of properly..Even a BIGGER fiasco!! They held my payment in escrow (I have NO escrow account with them) and started calling me several days after the payment was due (yet unapplied) saying I was delinquent and demanding payment on the phone immediately. I told them I had sent them the payment and went through about 6 customer service people before they said they would fix it. They pulled this 21 payments out of 24 and many months I would receive my "monthly apology letter".

Many times my payments are held as "unapplied" until the due date, even if they have it as much as a week in advance. I'm sure it can eat up more interest that way. My 2 years is now up and I am looking to refinance again just to unload this worthless company, but dread the idea of paying all the closing costs and all the other crap that go with it.

My CPA recommends I file a lawsuit at this point I am so stressed about this whole ripoff I am about to have a stroke. Every month when I get even a statement (or anything) from them my blood pressure soars!! Do they have anybody watching them. Did they get their lenders license out of Cracker Jack?? Please Advise!!

Millersburg, Ohio

This report was posted on Ripoff Report on 04/04/2005 07:39 PM and is a permanent record located here: http://www.ripoffreport.com/reports/household-mortgage-hsbc-mortgage-services/brandon-florida-33509-9068/household-mortgage-hsbc-mortgage-services-incompetent-ripoff-unable-to-enter-payments-137548. 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 Comment

I have also been a victim

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

I have also been a victim of this co. Our credit is so bad now because of this co. we cannot refinance. I think a class action lawsuit would be the best way to go.
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#2 Consumer Comment

HSBC Needs to be Investigated

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

They are also playing games with my account. On 9/8 for no apparent reason they decided to make 15 various transactions and in the mix reversed two payments. The following weekend I received a call from collections stating that we were two payments behind and demanding payment of more than 3k. Needless to say we were caught off guard. After telling the rude collections folks, that we were not behind, they told us to contact Customer Service on Mon. Thank weekend was shot. Had to end up faxing the disputed payment history via a bank statement. Called and called, no response from HSBC. Payment amount was adjusted without any call to 1700k. Called back again and got the same song and dance that a payment was rejected in July. Huh, again! So I just faxed yet another bank statement. These people are dirty. DO NOT DO BUSINESS WITH THEM.

I have filed a complaint with BBB and the Texas Attorney General. I would also be interested in a class action if anyone has started one or is thinking of consulting an attorney.
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#3 Consumer Comment

HSBC Nightmare

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

#1. My husband & I also refinanced our home of 15 years, in 2002, to reduce our term and interest, and pay-off faster to ensure a future for our children. Everything was going hunky-dory until the new year escrow was configured. They figured it WAY too low and did not account for our taxes. I called to inform them of their mistake, to which they replied that they made no mistake. I specifically detailed our tax & insurance information and they were to review it and 'get back with me'.

Meanwhile, they had applied our escrow surplus to our payment, and told me when I called about THAT mistake that if we paid more that the payment would be sent back. Rather that face not having a payment posted AT ALL I payed what they asked for. I went thru this for 3 months, all the while, begging them to adjust the escrow monies. If I paid what I KNEW we owed they would not accept the money.

They finally got the excrow fixed and sent us a bill for over $4000. When I called about this they told me that "we had not paid our total payment due for 3 months and all the money was due" to satisfy the deficit. So, that meant we had to sacrifice and scrounge or face them foreclosing our home.

#2 We also had a prepayment penalty, of 3 years in the contract, but I had received a letter @ 6 months into the loan saying it was reduced to 2 years. All well and good, until I called to get confirmation of this. They told me regardless of what we received in the mail, our penalty was what was listed in the contract.

The Ohio Attorney Generals office 'convinced' them to release the penalty, in a matter of days.

#3 Recently, we made a move to restructure our payments to overcome a hardship. The associates politely informed us not to make payments during that time, as they would not be accepted while they were doing the restructure. Well happy day, after doing what we were told, and finally receiving confirmation on our reduced payment amount, we were behind on our payments.

The company kindly told us they are forclosing on our home for non-payment, and we would have to pay the total amount + costs and attorney fees. One day the amount was $4019.

Two days later it was $6400. Then it was $5500. I got tired of the runaround and asked them to submit something in writing. This figure was not sent til we rolled into a new month, thus adding another payment + more costs and attorney fees for $7800.

Just last week after calling to ask where to send the money they said that amount wouldn't cover it, we needed over $10k. That was the day we consulted an attorney.

If you are considering refinancing, ASK ASK ASK if the company is affiliated with Household. Even if it says something else (ours was Decision One) it may be a subsidary company of Household.

All I can say, is this company has ruined our lives, our credit and our future, thus totally defeating the purpose of the refinance in the first place.
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