HSBC Mortgage - Decision One Mortgage FORECLOSED ON PROPERTY, PAYMENTS WERE 2 MONTHS AHEAD WHEN PROCESS STARTED Brandon Florida

We to are victims of HSBC Mortgage, dba Decision One Mortgage. First of all, we received our first bill 6 weeks earlier than contract stated but no problem, we paid it! Before the second month, we received a welcome package from HSBC, stating they were our new Mortgage Company.

Decision One Mortgage was HSBC so I never understood that! Trouble began immediately! HSBC started calling everyday from 8:00 a.m - 9:00 p.m. They finally reached me after a few days. The girl stated she was calling from collections because they had not received our payment. I went to the website of my bank and could see where the check had gone through. They were claiming that Decision One must not have sent the payment over to them yet.

Didn't hear anything else for several months until one morning a Sheriff shows up at our doorsteps with a notice of pre-foreclosure. This was in February of 2007, we signed the mortgage loan on August of 2006. They claimed to have never received one red cent on our loan.

I immediately contacted them; this is where things became really fishy! I was told by HSBC that they did not hold our loan - "Decision One" was our lender and I should contact them. But remember- one month after the Mortgage was in effect, our loan was supposed to have been transferred to HSBC, which is whom we were making payments to. ALSO KEEP IN MIND THAT HSBC AND DECISION ONE ARE THE SAME COMPANY!

I got the run around for days on the phone. Finally, I was able to catch an incoming call from Decision One Collections, informing me that we had until such and such date to pay all monies owed or foreclosure proceedings would take place. I informed them that we paid every payment and we were in fact paid ahead on our Mortgage. I asked her for a fax number so that I could send my proof right over.

I sent my proof of canceled checks with their signature on the back. I sent bank statements where payments were made through their online system and I sent copies of all correspondence I had received from HSBC directing me to immediately deposit $5,000 into our Escrow account to secure our Insurance and all of the upcoming property taxes.

A few days went by and I received a letter stating that they are in receipt of my fax and all evidence submitted; however, the research department now has the documentation and they will be in touch soon. Also stated in the letter, claimed that they were able to locate some of the monies submitted but not all. They also stated they do not have an escrow account and therefore, they have no idea where my $5,000 is.

Finally, another letter arrived and it just said after thorough research they have determined that we have made no payments on our account and that we had until the end of that month to come up with about $7,000 to prevent foreclosure.

I was in shock! I couldn't believe that we had proof of payments but this was still happening. I begged and pleaded with the company that our payments must of been applied to someone else's account by mistake or that even someone stole the money. I asked if they couldn't help us out someway by looking into this further? We were definitely in the middle of a crisis! I explained that we are just regular people already working many hours a week to meet a $1300.00 payment and that they are a large company swimming in wealth. In my opinion, this was something that a straight forward honest company would have looked in to instead of handling it with FORECLOSURE!

We decided to talk to a Lawyer; BIG MISTAKE OR MAYBE JUST WRONG LAWYER! We were pretty much persuaded to file a chapter 13 bankruptcy to prevent the Foreclosure. We both had credit scores in the high 700's so now, when I think about this; why didn't we just seek financing through another Mortgage Company? The attorney informed us that our loan was to new and that if we were already facing a foreclosure, there wouldn't be anyone out there interested in giving us a loan.

I feel that we have been struck with a serious case of bad luck and it almost felt like a conspiracy; everyone was just out to steal our money! The Ch 13 Trustee has been taking $265.00 every week and that money is supposed to be used to distribute amongst the creditors listed (when you file a Ch 13, they make you list every bill you have - even if you don't want to ) We have received 3 statements thus far from the trustees office of all of the monies collected and the only person that has been paid is lawyer $2600.00 on top of the $1600.00 we paid up front.

I don't know if this is why the Bank Foreclosed on us without our knowledge, because they weren't getting paid? All I know is that the money was taken out and is still being taken out. The last time I contacted the Bankruptcy Lawyer in December of 2007, his Paralegal informed me that our case had been dismissed and she wouldn't talk to me. I wanted to know why none of the other creditors were being paid.

We found out that our home was in Foreclosure proceeding a second time when we received an appraisal letter from the appraisers sent by the Court prior to the sale. The sale was to take place 4 days later. We now are trying to secure financing to buy the property back from the BANK. Yep, it was HSBC who purchased it at the auction for $65,000 less than what they are claiming we owed on it.

I know this is very long and there is a lot of stuff included in this report but the bottom line is this; we were ahead on our Mortgage payments when the bank first started to Foreclose. We have receipts and bank statements that clearly mean nothing.....did not serve as good enough proof! Caused us a Bankruptcy on our above average credit, to do nothing but end up losing our home in the end! I think this case spells more than one crook involved! I strongly believe that everyone we turned to ripped us off and I am damned mad,disgusted, and sickened by the whole situation.

Another user (s****.> Cbjewel
Florence, Kentucky
U.S.A.

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