• Report: #1045841
Complaint Review:


  • Submitted: Wed, April 24, 2013
  • Updated: Wed, July 09, 2014

  • Reported By: HSBCsNightmare — Ohio
630 Grand Regency Boulevard Brandon, Florida United States of America

HSBC/Beneficial HSBC HFC foreclosure, broken agreement, broken loan modification promise, potential class action Brandon, Florida



*Consumer Comment: For the most recent rebuttal, file a civil suit not a class action

*General Comment: Me Too

*Consumer Comment: Agony of HSBC Beneficial

*Consumer Comment: HSBC/HFC/beneficial

*General Comment: Exact same thing happened to me!

*Author of original report: I need sworn affidavits SOON!!

*Consumer Comment: HSBC lied to me too!

*Author of original report: PLEASE read the "Update and a Bit More" Post

*Consumer Comment: HSBC/HFC

*Author of original report: This appears to be a LIBOR rate action

*General Comment: HSBC Law Suit

*General Comment: HSBC Mortgage

*Author of original report: Please read the "update and a bit more" below

*Consumer Comment: Same thing happened to me

*Author of original report: Update and a bit more info

*Author of original report: I am doing just as you suggest

*Consumer Suggestion: Don't do class action

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I am in the process of defending myself against a foreclosure complaint by Beneficial Financial I Inc. and looking for other people that have attempted to get a mortgage modification and after agreeing to a "trial 6 month loan modification" and was told that "if you completed the 6 month trial and made all the payments on time the trial would become a permanent mortgage modification and the payment would be the same as the 6 month trial payment", only to successfully complete the "trial" and discover that Beneficial would not be honoring their promise to make the "trial payment" permanent.



IF YOU ARE WILLING TO PROVIDE A SWORN AFFIDAVIT THAT I CAN USE TO SHOW THIS WAS A STANDARD PRACTICE OF HSBC/BENEFICIAL etc... Please let me know via this thread how to contact you and make sure you are included in any future class action.



This report was posted on Ripoff Report on 04/24/2013 10:20 AM and is a permanent record located here: http://www.ripoffreport.com/reports/hsbcbeneficial/brandon-florida-33510/hsbcbeneficial-hsbc-hfc-foreclosure-broken-agreement-broken-loan-modification-promise-1045841. 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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6Author 13Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion


AUTHOR: Dana Shafman at END Consulting - ()


Please forgive my prior post as it got crossed with another that we covered on The Daily Complaint (radio show) and may not be entirely applicable to the situation.  With that said, the information contained within my prior post is not only applicable for the topic of mortgage lender/servicer abuse but also contains important information and links for homeowner relief!

Thank you for your understanding,



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#2 Consumer Suggestion


AUTHOR: Dana Shafman at END Consulting - ()

Hello HSBC Nightmare and other customers that have had their rights violated by HSBC,

I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks like HSBC that are "too big to fail" but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like SPS, SLS, GreenTree, Ocwen and Nationstar are simply just scumbags but they can be beat at their own game too just like the big banks can be defeated.  

It pains me that you have fallen victim to the unfair, deceptive and abusive practices of HSBC but I commend you for asserting your rights...too often homeowners do not fight for their consumer and constitutional rights!  With that said, you have overlooked a key aspect to your fight, which is taking it outside of HSBC to government agencies that will actually fight for your rights on your behalf by simply submitting a complaint after a proper QWR; you do have rights and I would be more than happy to educate you as to how to fight for your rights.  My firm routinely seeks out complaints online so that we can educate as to how to fight back on our weekday show called "The Daily Complaint" where we review a complaint and how to tackle it successfully.  

We reviewed your complaint on the show if you would like to listen, click here.

In addition to the CFPB, let me bring your attentiont to The National Association of Insurance Commissioners (NAIC), which is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories.  

The mission of the NAIC is to assist state insurance regulators, individually and collectively, in serving the public interest and achieving the following fundamental insurance regulatory goals in a responsive, efficient and cost effective manner, consistent with the wishes of its members:

Protect the public interest;

Promote competitive markets;

Facilitate the fair and equitable treatment of insurance consumers;

Promote the reliability, solvency and financial solidity of insurance institutions; and

Support and improve state regulation of insurance.

The last thing I would like to shed light on is that you do have rights and options to avoid foreclosure while holding HSBC accountable for their actions but the way you go about it will make all the difference in the results achieved.  With that said, the foreclosure process that was started began because you did not pay your mortgage giving HSBC more leverage to use against you unfortunately.  By not paying your mortgage, you lost some of your leverage against HSBC when what should have happened is that you held them accountable for their lies and withholding the insurance payment after the approvals and requirements were met. 

As for your impending foreclosure, you also have rights in that arena to restructure your debt but you will have to go through the RMA process with HSBC to bring your mortgage current; you can always refinance at a later time and get rid of HSBC altogether but since they are under great scrutiny right now after settling their most recent lawsuit, you might want to put some pressure on HSBC to modify your mortgage given they broke insurance laws and violated your rights (leverage to be used to turn the tides in your favor).  It truly is a strategic game of chess and the one who plays it best wins...sad but true!

You can contact me via email or website or via phone as I would be more than happy to contact HSBC on your behalf since we speak with them routinely to ensure the rights of our clients are not further violated.  

My firm, END Consulting, is a full service strategic debt and credit consulting firm started in 2006 with expertise is debt negotiations coupled with an exceptional track record of strategic consulting to include the real estate industry with a formidable business foundation.  We have successfully assisted over a hundred clients in the past year alone in achieving desired results with regards to their mortgage loan(s) by stripping down the validity of the debt and forcing the lender or servicer to work with our clients to provide ethical, legal and affordable mortgage workout solutions.  The results that we negotiated for our clients were not on the table for most when we took on the client as it took regulatory muscle and aggressive communication to achieve the desired debt restructuring resolutions.

I would be happy to elaborate for you or anyone reading this as we always offer free consultation until we can determine if we can assist you to include contacting the bank and/or servicer for you for free to uncover the options that exist for you in this situation. You can reach me via email at Dana at ConsultingEND dot com or via the web at ConsultingEND dot com. I have had the pleasure of restructuring millions of dollars in debt and helping hundreds of homeowners...my firm is exceptional at what we do!

Every new beginning comes from some other beginning's END






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#3 Consumer Comment

For the most recent rebuttal, file a civil suit not a class action

AUTHOR: FloridaNative - ()

You very clearly describe an individual case where you have the documentation of the refinance and the tax payment history for your individual property. Because it is an event that is specific to you, file a civil lawsuit for damages against HSBC/Beneficial.  Do it right away. You need an attorney. The title company is suppose to have a copy of the disbursements they made for the refinance and a copy of the payoff at the time of the refinance. Please pursue this right away - don't get caught up in looking for others that have had the same event. You need to be made whole.

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#4 General Comment

Me Too

AUTHOR: Linda - ()

Back in 2008 we decided to condense our mortgage second mortgage and credit cards. At that time, Beneficial stated that they could do this at 9% interest rate. When we went to sign papers, it was more something around 10.75%. We were hesitant to sign. They stated that if we make our payments on time for six months, we would get a reduction in our percentage and as a result our mortgage payment would decrease.

That was 6 years ago. We made continual ontime payments and saw no decrease. When I asked about the program, they told me it was suspended and we were not eligible.  I can't get them to rewrite my loan for they are not doing this either.

18 months ago, my hubby was laid off. Since then, we have been struggle to keep up. When they call, I tell them I am making the paymen. I am never a month behind, the most was 25 days. They tell me they need an update on our income, and all they can suggest is that there are companies out there that can help me. News Flash!!! No there's not. y debt to income ratio is to high.

They have gone as far as telling me that since I have 300 dollars in late fees, they can come take the house, foreclose on it and throw me out.

Hummmmm, predatory lenders but no one cares. They seem to continue to business as usual.

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#5 Consumer Comment

Agony of HSBC Beneficial

AUTHOR: Rich2824 - ()

I have had similair issues with HSBC\Beneficial. I also tried about 5 years ago to get a loan modification and was put on the 6 month period of a lower payment and when the time ended I was turned down for the modification, and our payment increased almost $300 a month to what I was told the back mortgage that was reduced and additional fee's.My wife and I struggled to pay the mortgage but managed( our rate was 9.75%). They are the worst company to try and communicate with no one know's what is going on, August 2013 we finally managed to qualify to refinance our mortgage ( 4.0%) through a FHA loan( my credit score needed to be increased). So on August 16,2013  we finally closed and got away from the horror of this company. So we thought,it is May 13, 2014 and the Hell continues. According to HSBC our payoff for the refinance was short. Well I have been losing my mind trying to get this resolved, the payoff figure given to our new lender and title company is what was paid to them from  the Payoff request dated August 5, 2013.HSBC coincidently mailed off my property taxes( $2802) the same day the payoff letter was sent knowing this would cause a shortage. When we closed our refinance we were told that if anything was double paid it would be refunded back to us probably in 4-6 weeks which it was.We recieved the $2802 in October by our local tax department. HSBC has continued to call us only in regards that our mortgage is past due and is now in default, we have been making our payments to our new company as scheduled but they claim that our mortgage is still with them. I have contacted the previous lender as well as the title company and they have not helped as much as they schould, it mostly has fallen on my wife and me to fix this. We requested our history from HSBC the first time in Feb. 17,2014 it was to be faxed to me within 2-3 hours. I never recieved it we did not get the history until April 22,2014. we needed this so that the title company could see how the payoff was disbursed. The tite company decided they would payoff the balance which should have been $2802 at the most and they are wanting us to reimburse them for that amount. The payoff sent to them on May 7, 2014 was now $6157.31.I contacted our local tax office last week to get a history of the paid taxes and it showed that there was another double tax payment made in December 2013 for $1694.00, but they sent a refund check back to HSBC on April 29,2014 for that amount. So the payoff really becomes $7851.31.

I contacted the Attorney General about all of this and was suprised I received a response. I was notified that HSBC claimed they made 3 attempts to contact us about the shortage on August 27TH-30TH AND September 5,2013. We never heard from them other than when they contacted us in November 2013 for a mortgage payment. In the letter sent from the Attorney General they gave a payoff figure of $4451.00 for us to close the account. This figure represents the 2 tax payments that were made. I don't understand why this figure would be different than the one that was given to the title company by $1706.31. I have 21 days to respond to HSBC's letter. which I managed to complete today. I have been advised that I should contact an attorney to file a civil or class action suit against them even if this does get resolved. So if anyone is planning on any sort of class action suits please post information and I would be more than happy to participate, and hopefully they get what they deserve on how they treat the consumers.

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#6 Consumer Comment


AUTHOR: duped - ()

the same thing has happened to me with unending loan modification paperwork/continual denials. Their loan process is a sham, beware of their loan officers using equity in your home for line of credit which you will never be able to repay/ they shift this loan to Velocity investments/for collection. Any questions? I have an attorney in Florida trying to figure this out/ and know the attorney general/ Iowa if these contacts will help. Be happy to provide a sworn affidavit

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#7 General Comment

Exact same thing happened to me!

AUTHOR: jessieshannon - ()

 I have HFC/HSBC as a Mortgage company and EXACT same thing happened. They gave me a reduced amount to pay and said if I was on time for 6 months this would be my new payment. I was so excited cause it was significantly less amount. I paid on time every month and when the 6 months was up they said they would not honour the aggreement. The woman on the phone at that time said they would not honour it as HSBC had bought HFC and they had no legal reason to honour the agreement! WHAT???? What a HORRIBLE company! I hope SOMETHING happens!

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#8 Author of original report

I need sworn affidavits SOON!!

AUTHOR: HSBCsNightmare - ()

As the person that, I think, started this thread of complaints about Beneficial / HSBC  I am in need of sworn affidavits VERY SOON!

At the same time I am defending myself in a foreclosure against these thieves I a also trying to get as many sworn affidavits as possible to tell how HSBC or Beneficial or any subsidiary of HSBC, lied, cheated or otherwise screwed you when you were trying to deal with them and trying to save your home.

It is important that these affidavits be an honest account of what happened and how HSBC et. al. misrepresented what they would do if you did "X". These affidavits can be hand written or typed but MUST be signed in front of a notary and then notarized. The notary must also include the date and any other requirements of their state.

If you are willing to provide a sworn affidavit see the post above titled UPDATE AND A LITTLE MORE INFO, if you read it carefully you will find an email address where you can contact me and get the address to send the affidavits.

I plan to use theses affidavits in my foreclosure fight so that they will become part of the official record so that when I do find an attorney willing to take on our class action these affidavits will already be on record in a court case.

I'm going to put my email address there in a slightly odd form and hope the site admins (who happen to be great) will allow it to remain in this post if not just look at the post I mention above. You can contact me at beneficial"theatsign"mail.com.

Please feels free to mention this to others that you khave that have been screwed by HSBC or any of their multitude of subsidiaries.







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#9 Consumer Comment

HSBC lied to me too!




HSBC mortgage services did the same thing to me.  I was granted 2 six month modificaitons, then denied a third.  They verbally told me to leave my house because the sheriff could show up any day and put me, my child and all of our belongings on the street, so I left, not knowing this was unlawful.

During a surprise summary judgement hearing (immediately following an evidentiary hearing), not even the judge knew it was on the docket for the day, they presented charges for over $9000 to pay property taxes on a bill that was less than $3000.  They also presented records of payments that were incorrect when compared to my banking statements. 


They presented robo signed assignment of mortgage after a lis pendens that had a bogus attorney signature on it had been filed.  They "created" an allonge with an endorsement in blank with room left on the note next to an unsigned special endorsement. 

They are criminals!

 Being pro se on a foreclosure case is NOT recommended.  I understand if you have NO other way.  I was in the same boat.  You  can't just lie there and let them rape you, you have to fight, even if you cannot afford counsel.  Funny how that works isn't it?  Too poor to afford someone to fight for you and no one cares enough about the injustices to get paid in the end. 

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#10 Author of original report

PLEASE read the "Update and a Bit More" Post

AUTHOR: HSBCsNightmare - ()

Please read the post below that includes an email address if you read it carefully and then send me the details of your story.

i am trying to gather sworn notarized affidavits thHarare similar to my situation where i was promised a permanent modification if I made all the payments on time I did the didn't and now I'm counter suing in my foreclosure and if I can get enouginfo these affidavits I will try to pursue a class action.

let me know.



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#11 Consumer Comment


AUTHOR: paul - ()

 I also applied for a mortgage modifcation I was approved and told to make my 6 months trial period  payments. after 3 months i got a phone call telling me i was 3 months behind on my mortgage payments and they had no record of any modification maybe it is in there old system because they just updated!

so now i am trying to catch up but when i called the other day to send them money they would not take a payment over the phone saying my account has been blocked and he could not tell me why must be in the old system! i dont know what to do now i am sick of fighting with them they can have the house!!

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#12 Author of original report

This appears to be a LIBOR rate action

AUTHOR: HSBCsNightmare - ()

This appears to be a case against banks that manipulated the Lndon Inter-Bank Overnight Rate (LIBOR).

if you had an adjustable rate mortgage based on the LIBOR rate then you need to get in touch with the lawyers on this case. If you had a fixed rate or an adjustable rate NOT based on the LIBOR it might be hard to get included as part of the class.

I am going to try to get info on this case and hope it will help in mother case I am pursuing.

i should also a mention again that I AM NOT AN ATTORNEY and am trying to establish fraud and bad faith negotiations on the  part of Beneficial, HFC and/or HSBC.

My email is in one of the up dates on here so contact me with your story if you are interested.

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#13 General Comment

HSBC Law Suit

AUTHOR: sam - ()

Hi, I have found out today that their is a class action law suit on HSBC Mortgage Services. It is being handled in New York. I talked with one of the lawyers today. You can find this law suit it is called annie bell adams class action law suit. They are looking for more people to join for HSBC mainly.

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#14 General Comment

HSBC Mortgage

AUTHOR: sam - ()

I will gladly join a class action law suit on hsbc I have been in foreclosure for 3 years wihn no solutions... I have been looking a long time for a class action law suit.

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#15 Author of original report

Please read the "update and a bit more" below

AUTHOR: HSBCsNightmare - ()

PLEASE read below carefully and you'll see a thinly veiled email address that looks like this beneficial"the at sign"mail.com. OK now you don't have to read  below.

But please email me with your story and the specifics of what you went through. I have been trying to get a law firm interested in a class action and the more stories I have the better the chances I'll have. I'll also eventually need a notarized version of your story.

so contact me and I'll add you to my contact list as this progresses.

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#16 Consumer Comment

Same thing happened to me

AUTHOR: Bl - ()

I have applied for hardship over and overe since 2007, been approved, then told I didn't send last payment on time, and they continued to charge interest and late eyes,causing my balance to balloon to $50000more than I borrowed


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#17 Author of original report

Update and a bit more info

AUTHOR: HSBCsNightmare - ()

I was offered a 6 month trial modification that would convert to a permanent modification if "you make all 6 payments on time"? I have come across many people that were promised the same thing and have started to collect names, addresses, phone numbers, contact information and details of your experience while dealing with Beneficial, HFC, HSBC and all other subsidiaries of HSBC, to begin to develop a legitimate class for a potential full blown class action, lawsuit.

This won't be easy but we must start somewhere and be serious about collecting any documents that would back up our claims. I need sworn, notarized statements that detail the experiences you, and anyone else, have had while trying to get a loan modification from any entity owned and or, operated by HSBC or any of their partners.

So, if this is something you're willing to do I need to speak with you ASAP!

Also, if you know or can find others that have been through the HSBC wringer, and lied to, promised modification that never happened or any other type of bad experience PLEASE let them know about what I am trying to do and have them contact me at beneficial"the at sign"mail.com. But understand I will need sworn, notarized statements that explains in detail their experiences while dealing with Beneficial, HFC and HSBC etc... These statements don't need to be anything fancy you can even hand write what happened to you during your dealings with Beneficial, HFC and HSBC. Just write or type what happened take it to a notary and sign it in front of the notary and then have them notarize it.

DON'T embellish your story keep it honest, simple and straightforward. Include dates, phone calls, who you talked to and any other details you feel we might need to know, BUT, keep in mind the simpler the better, and if you have paperwork that you feel supports your statement attach it to your notarized statement and include in your statement a line that says something like "see the attached documents".

That's where we are right now, and any help you can provide will be greatly appreciated! This will be a long process but the sooner we start the sooner we might get some relief from the predator know as HSBC.

I look forward to hearing from ANYONE that wants to be involved. And PLEASE pass this information along to anyone you think might be interested in this action or has suffered because of the conduct of Beneficial, HSBC, any of its subsidiaries or any of their partners. And if anyone has any information that links Beneficial, HSBC etc... to ANY other financial institution we'd REALLY like to hear from you.

Again, I urge you to pass this information along to ANYONE that might be interested in becoming part of this action. We will need a LOT of "Plaintiffs" to make this work. Also feel free to contact me with any questions or, even better, suggestions.

Thanks, S
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#18 Author of original report

I am doing just as you suggest

AUTHOR: HSBCsNightmare - ()

First, THANKS for your sage advice and I am doing just as you suggest.

I am counter suing HSBC as I fight my foreclosure and believe that I have seen A Lot of the same thing happening to people with an HSBC, HFC or Beneficial mortgage so I think there is a potential "class" for action against HSBC.
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#19 Consumer Suggestion

Don't do class action

AUTHOR: MochaG - ()

If you think you have enough evidence of what they promise, sue them yourself. Don't go for a class action because you will end up getting nothing because the person who gets most everything is the attorney.

Anyway, you should consult with attorneys to see your possibility of winning the case. Check against a couple of attorneys, not only one. An attorney who is experienced in this field should be able to answer your question and give you some cases he/she did in the past. You should be able to find case detail on line to be sure that the attorney is telling the truth.
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