HSBC Mortgage Reviews

1.3 of 5 | 48 Reviews
Overall Rating
1.4
Rates & Fees
1.4
Customer Service
1.3
Knowledge & Expertise
  • HSBC Mortgage Bank is one of the nation's 10 largest banks. HSBC Bank provides a full-range of products and services to individuals through its personal financial services, private banking, commercial banking and corporate, investment banking and markets segments. HSBC Mortgage offers a suite of subprime and prime mortgage loan products, and does lending across home loans, refinance loans, purchase mortgages, reverse mortgages and debt consolidation loans. They have a national footprint and are one of the largest mortgage lenders in the world. HSBC has many retail locations nationwide.

    Related Provider Reviews: HSBC Debt Consolidation

    Headquarters: Charlotte, NC
    Website: www.hsbcusa.com
  • Additional Information

    HSBC Mortgage Loans serviced 242,363
    HSBC Mortgage Top States NY, CA, PA
    HSBC Mortgage Retail offices 2,000

Bills.com Rating

4.5

HSBC Mortgage has many different loan choices and friendly experienced loan officers, they are a great lender for all borrowers and situations.

Pros: Great Product Selection And Very Flexible Underwriting; Customer Service Is Solid
Cons: Higher Rates On Some Select Products

Reviews & Ratings

Awful Mortgage Service

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Sunnyside, NY  |  April 22, 2014
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I wish I read these reviews before applying for a mortgage with HSBC. They are the most incompetent, unprofessional and inattentive group ever! They assigned us a mortgage consultant and a loan processor, we are unable to reach either one. I called the branch, the customer service hotline and the mortgage services. I keep getting transferred without any progress. Even with our excellent credit histories and a 20% down-payment, the process is taking over three months to complete. We’re told one thing will g

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The Absolute Worst

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Havelock, NC  |  April 11, 2014
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HSBC has to be the absolute worst mortgage company in existence. I've been trying to get away from them for the past 5 years, and it seems every time I'm close, they present another stumbling block. I'm finally qualified to refinance with another lender, but HSBC is claiming that I owe 30,000.00 in deferred interest from three different deferments that I never requested or authorized. I requested a complete payment history, and 2 weeks later I have received nothing.

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Rich H.
Upper Moreland Tw, PA  |  April 16, 2014
 
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I could not agree with you more. I refinanced back on Aug 16 2013 and finally thought I was away from HSBC I went from a 9.65% rate down to 4.0%. HSBC has now claimed that the payoff was shorted and we still have a mortgage with them.We signed all the paperwork and the payoff amount they requested to pay off the loan was made, what I found out was that they sent out a tax payment for my taxes the day of or the day before we were to sign. I believe this was done on purpose so it would then show a shortage for the original payoff. They are claiming we owe them still over $5000. We have been paying our new mortgage company since we refinanced and HSBC is now saying we are in default. I have requested a history of my account from July until present and its now been over 6 weeks and we have not received it yet. Each time my wife has spoken to them(3X'S) they continue to either tell her that they either had until that day to send it or that it was being mailed that day. On February 16 they told her that they would fax it to my work in 2-3 hours and I never received that either. I have finally contacted a attorney to see what options we have. I honestly would like to file a class action suit against them.

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Predatory Bank

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Orange, VT  |  April 07, 2014
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HSBC changes agents on people every three or four months. Even thought hey all work in the same building, on the same floor, in cubicles right next to each other, they say they don't know one another. Sounds highly unlikely, because it is. They have meeting that work toward fucking their customers over everyday. HSBC/Beneficial sends their agents to seminars that teach them how to fuck customers over.

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My 1098 is wrong and cannot get corrected

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Chesapeake, VA  |  March 24, 2014
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Cant get the correct 1098 for tax purposes

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Quincy, IN  |  March 20, 2014
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Nothing but problems since april 2013

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Broken Arrow, OK  |  February 16, 2014
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in April 2013 they changed servicing on their mortgage accounts since then none of my payments have been applied they all go int unapplied funds I cant get statements or access my account online all I can do is call and pay it. I keep all my bank statements as proof that I paid.I filled a complaint with the CFPB they sent them a letter and said it was fixed even though the next month my payments have not been applied. Now I cant get a correct 1098 because they have not applied payments since April.

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Went into bankruptcy because HSBC threatened forclosure. This was the only way i felt i could keep

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Madison, AL  |  December 18, 2013
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HSBC over and over would not work with us, even when my husband lost a job.We filed a hardship letter twice and were rejected. We went through NACA Save Your Home program in 2011 and they rejected us. So what else was there to do to keep our home? They certainly weren't giving us any answers? Oh, I forgot you can the HUD number that no one ever answered. I am in a Chapter 13, so they are still getting their money, but how ruthless are you? Help people when you know their situation has changed and they need some help.

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Martial K.
Bassett, VA  |  October 10, 2014
 
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they are doing the same thing to us! and we dont know what to do! they will not work with us and only offer a short sale. any advise?

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Bill A.
January 08, 2014
 
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A lender is not required to accept payments for less than the amount set in your loan contract. If your lender is not working with you, you could face foreclosure. I recommend you speak with a federally approved housing counselor at HopeNow, 888-995-4673. See if your state offers a program affiliated with the Hardest Hit Fund. Do a search online for "Hardest Hit Fund" and your state's name.

You mentioned filing bankruptcy. As your bankruptcy lawyer will tell you, if the bankruptcy court trustee creates a new payment for your mortgage, the mortgage lender is compelled to accept that payment for the duration of the chapter 13 plan. Consult with your bankruptcy lawyer before you negotiate any settlement agreements or payment plans.

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Matha H.
Pittsville, WI  |  January 08, 2014
 
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We had changes in our income since I became disabled and there was a big cut in income. Our mortgage company put us in foreclosure twice and now we will be filing a chapter 13 bankruptcy. I asked them to work out a reasonable payment but they won't. If we try to make a payment and they refuse how does that affect our mortgage account?

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Most Incompetent Bunch of Morons

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Montclair Twp, NJ  |  August 13, 2013
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We started our mortgage experience with HSBC in late March. Throughout the whole of April, they stopped all new processing because they were installing a new system - which modern bank does that? They sent letters asking for the same data again and again despite us sending them the data again and again. In July, they were still processing. In frustration, we approached Investors Bank and Investors closed in just over 3 weeks. HSBC were still processing when we closed. Avoid HSBC like the plague.

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The worst bank ever

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Bronx, NY  |  May 22, 2013
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I came into some money issues, like everyone else has, and tried talking to HSBC for a refinancing agreement. This damn company is the worst!!! They won't work with you and they are always claiming they never receive your paper work so they can charge you a late fee and up your interest rate on purpose!!! This bank is full of scammers. All of the blogs and comments ive read of this bank say the same thing. They won't help or they never get the paper work!!!

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Go elsewhere

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Bronx, NY  |  May 18, 2013
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These people are the biggest scammers. I would never do business with them again, now they are even charging $7.50 for online mortgage payments that other companies charge nothing for. I can not stand this company.

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Me too!

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Cridersville, OH  |  February 26, 2013
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Even more discouraged with HSBC after reading all these comments. We were denied a loan restructure after several months of waiting for an answer. Also, first denial came because they said they never got our fax of income info. Faxed again and called to make someone go find it. I lost my full time job and now am part time. Denied again, still make too much. They advised us to make a payment and a half to "show commitment" since now behind. This plus utilities leaves $300/mo left for food and gas, etc.

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They are unwilling to work with their

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Halifax, PA  |  October 05, 2012
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I am trying to get disability. We have tried working with HSBC but they keep telling us that they have not received any of the documents that they have requested from us - all have been sent certified mail and have been signed for by them. They have ruined our credit rating and we can't refinance - our interest rate is 8.95%. The PA Dept of Banking, 2 Fed Congressmen, and Consumer Financial Protection Bureau in DC are involved. Isn't there anyone out there that can stop these people?

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The Evil Empire

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Crystal City, MO  |  October 04, 2012
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I am also in a battle with hsbc. Yes the same company in trouble for money laundering for drug dealers(true google it). But i am fighting back, file complains with the attorney general from your state. File complains with the newly formed consumer finance protection bureau (www.consumerfinance.gov)

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HSBC SENT OUR MONEY BACK AND TRIED TO TAKE OUR HOME

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Fredericksburg, VA  |  September 22, 2012
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HSBC actually sent us a check with TWO mortgage payments in the mail and the same day sent a letter saying we were late on our payments and they would start foreclosure procedures. I immediately wrote a check for THREE mortgage payments and deposited the check sent to us. THEY WANTED TO TAKE OUR HOUSE AND COLLECT PMI PLUS SELL HOUSE. In the matrix of their financial position it was beneficial to them and they tried to take our home. Now I'm fighting the report to credit agencies that we were late!!!!!

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14.95% raised to

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Montgomery, MA  |  July 17, 2012
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6 years not late then fell behind 60 days after near death eletricty zap for 30 seconds threw my arms body and heart they raised my fixed rate to 14.95 the lawyer said i couldve sued them for having me sign this flexable rate page.this was my 1st home and they nailed me now my credit is so bad no one will help me gonna loose my home and the 70k i put in it ty hsbc

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Pay OFF!

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Dallas, GA  |  June 27, 2012
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I just want to pay off my mortgage! When I called they stated I had to fax in the request for the pay off. I have faxed several times over the last couple of months. I have called repeatedly. Cannot get the info!!! Does anyone have any suggestions???

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ITS THE BANKS FAULT "AGAIN"

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Lockport /cambria, NY  |  April 11, 2012
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Here we go again; it’s the bank fault for your bad check, not getting the payment on time, not sending what the payment is. Gee I have had my HSBC mortgage now for 6 years, no problem!! Payment post fine, no bad calls from them, no rude language, nothing but easy sailing. Maybe because I pay what I am supposed to when I am supposed to. Again, I didn’t see the lender hold a gun to any customers head making them sign the mortgage/note for the money amount the customer requested. Every problem you have is alwa

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Phil B.
Mansfield, OH  |  March 25, 2013
 
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You just better hope you never fall on hard times. Or you won't think they are so great.

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Genell H.
Long Beach, CA  |  March 25, 2013
 
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I pay my mortgage on time also, but when I requested info on a modification and began the paperwork HSBC cant seem to get anything right and they claim they dont recieve anything mailed or e-mailed to them. I feel for the people in the above situations, because if they treat someone who has NEVER been late on a payment like this, I can just imagine how the treat the customers that they're not getting money from.

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John K.
T/o Walworth, NY  |  April 18, 2012
 
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Remember to be humble and thank god for his blessing. It will be easier for a camel to pass through the eye of a needle than a rich man to pass the gate to heaven. I don't believe the majority of people chose not to pay there mortgage and become displaced, God help them and God Help us - all.

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What is with these people?

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Half Moon, NY  |  April 05, 2012
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I do not have a loan or mortgage through this company. I own my home free and clear. last year I switched my cellphone # and received a # that someone who had defaulted on their mortgage had owned. Every 3 months I am receiving harassing phone calls that last for about a week. They will call me 7-11 times a day! I tell them I am not this woman and that she no longer owns this #. They ask me if I know where she is? How would I know this? They ask for my social security #. Are you kidding me?

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HSBC Mortgage is AWFUL

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Wauwatosa, WI  |  April 04, 2012
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My husband and I worked so hard to build our financial security. After losing his job, we called HSBC to arrange payment or possible re-fi. The scammed us at our most vulnerable moment. We would pay the reduced amount, then they would count the payment as "late" (wiht fees) because it was not the original mortgage amount. Also, the "late" payment was noted on our credit. By the time they finished with us, our score of 725 was reduced to 580 and inelligible for re-fi because of late payments. SCAM

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I feel your pain

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March 19, 2012
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I am going to make this fast and quick. I would never, EVER, recommend HSBC even to my worst enemy because no customer deserves to be treated this way, ESPECIALLY by a foreign owned company operating within the U.S. I believe we should inform the government of their devious actions and get everyone to leave them, even if it means leaving your homes to go into foreclosure. Then they would have to deal with all of the excess baggage held in defunct properties and sold back to the owners.

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Debbie V.
Montgomery, MA  |  April 01, 2012
 
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We took on HSBC to refinance our home of 24 years. Ultimately we foreclosed on our home. I can honestly say that I have never dealt with such a consistently rude "customer relation" department. We had asked for a loan modification. No paper work was received. We did it over the phone. The result was a lousy $200 deduction off our monthpayment. Missed 2 payments, spoke with "someone" who told me to make a partial payment which I did. Shortly after that we received a letter from HSBC stating that our home will be put in foreclosure unless full payment balance is paid in 30 days. SHortly after their letter we received a letter from their attorney. I called to make a monthly payment and I was told that they "don't want my money" and hung up. In retrospect we should have contacted a lawyer to see what our rights are as a homeowner. We were just so disqusted with the entire process that we couldn't wait to get on with our lives.

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HSBC - Is the worst Company

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Cary, NC  |  March 13, 2012
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I lost my home of 13 years last year to foreclosure, I had it up for a short sale, I owed 190,000 I received an offer for 186,000 and HSBC would not accept the offer. My Real Estate Agent sould not believe they refused. Once I do get back on my feet, and I will...I will never do any business with HSBC, even if they were the last Bank standing.

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Never use HSBC!

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Kenosha, WI  |  February 24, 2012
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Mo pymts pd promptly. Husband injured on job -Ins to pay mo pymt - they didn't- we faught monthly for this to happen -18 months after his ACL surger ins pd but for those 18 mo late fees added up & when we asked to refi- we were told we couldn't as we were not past due..GO FIGURE.. Now when paying they do not apply correctly, over chrg ins. Also if they offer you a settlement on other loans, they do not tell you that you have to claim this as income. Big tax issue! Because they screwed up cr/we can't refi!

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Refinancing

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T/o Chili, NY  |  February 10, 2012
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HI,i agree with most of your comments from most of you. HSBC bank is terrible. I have a FHA throught them, and can't refinance, i don't know what to do, Is there anyone in Buffalo New York area who knows of a good attorney to review my papers for poosible fraud activity. thanks sherry

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Judy C.
Port Saint Lucie, FL  |  May 17, 2013
 
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Sounds like a crock.. have gone through the ringer on 2 'trial' modifications only to find instead of a true interest reduction, it was deferred. I'm done with them, they bought my second from another bank, I didn't choose them to start with.

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Peggy R.
Englewood City, NJ  |  May 13, 2013
 
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we applied for modification and received it and HSBC continues to work with us. I don't know what others are doing wrong but this bank has been good to us so far. we sent in our two payments for the modification and was told that the bank will send us papers for us to sign. our modification is for 24 months.

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Michael H.
Saint Paul, MN  |  June 21, 2012
 
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May the Lord deal with your situation with the same compassion that you have shown to others on this board. A person who judges and condemns a person who falls on hard times, who cannot possibly understand what they are going through; is multiple levels below the "Slacker." You probably work for HSBC.

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Richard L.
Lockport /cambria, NY  |  April 11, 2012
 
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Here we go again, its the bank fault for your bad check, not getting the payment on time, not sending what the paymentn is. Gee I have had my HSBC mortgage now for 6 years. no problem!! payment post fine, no bad calls from them, no rude language, nothing but easey sailing. maybe cuase I pay what I am suppose to when I am suppose to. Again, I didnt see the lender hold a gun to any customers head making them sign the mortgage/note for the money amount the customer requested. Every problem you have is always someone else's fault!! Banks are not mistake free. Gee your neighbor works there!! but my experience is when they make a mistake they have always corrected it and fast and appoligised for it!! Maybe instead of having that liberal entitlement attitude why dont you get off your behind and go make money and pay your bills. Also I dont remember in the contract that you only pay as long as your home maintaines or inreases in value!! Buying a home is a risk like everything else!! PAY YOUR MORTGAGE SLACKERS !!!

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They steal payments

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Nashville, TN  |  February 01, 2012
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In 2011, HSBC claimed four of my payments were "bounced checks," or "non-payment" - despite the fact that Wells Fargo (my checking account bank) called AND faxed them with proof that HSBC DID recieve payments. They do not respond to Wells Fargo, or to me, so I have met with my U.S. Senator's office this week. They are calling HSBC, but who knows if the bank will respond. BTW, this is systemic in HSBC, thousands of others have the same complaint, with proof of payment. NEVER use this bank. You'll regret it.

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HSBC H.
Minnetrista, MN  |  March 05, 2012
 
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Hello, Please consider joining the following group to gain political attention on HSBC practices: http://finance.groups.yahoo.com/group/HSBC_mortgage_nightmare/ As a result we will be able: * to drive-away potential customers from this dangerous institution, * to convince citizens to support us through cutting their HSBC credit card * to gain media coverage, * to gain elected politicians support (especially in this electoral year), * to have HSBC management listen to us and change our loans. All together, we can.

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Jennifer O.
Nashua, NH  |  February 11, 2012
 
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NEVER go with HSBC. I also have just been trying to obtain a lower interest rate, first is at 7.99 and second st 11.99 I too can afford my payments and I do pay early each month, but to even get considered for a modificattation, you should be delinquent. That's ridicuolous! I have a great credit score and would never do that. Why are we being penalized for being good customers??? It's so frustrating knowing another family member just refinanced at 3.5 and I can't even get assistance or consideration on even the 11.99!!!! HSBC SUCKS!!!!!!

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Nestor I.
Deltona, FL  |  February 09, 2012
 
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What was the outcome by getting the senator involved? I have them also and it wasn't by choice. My mortgage was sold to them and all I want is a lower interest rate.

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HSBC-Horrible Service Banking Corp.

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Naugatuck, CT  |  January 27, 2012
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The worst possible bank. Departments within the bank do not speak to each other. They will not give you a contact name and extension number when you do speak to them(so you could speak with the same person, and not have to relate the complete story each time you call). 3 attempts to modify, 1st incomplete, 2nd same docs submitted-said we made too much, 3rd time,again same docs, they said we made too little. Now-after State mediation, they are trying to get additional escrow amount.

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Tony S.
Halifax, MA  |  January 28, 2012
 
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To John L. I also have a loan with HSBC unfortunately. Horrible people. John you do make good points. I don't know how old you are, but 100 years ago a farmer who wasn't using a parcel of land would lend it to his neighbor to plant crops. In return that neighbor would help out his neighbor. Where are we now? After interest we now pay double sometimes three times what we originally paid for our home. Credit card interest fees, should be illegal! Usury use to be a crime! I ask anyone reading this blog, goggle "USURY" and read and read and read!!

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Outsourced Customer Service Departments Stink!!

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Pittsburgh, PA  |  January 27, 2012
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The number one single issue with HSBC Beneficial is that they placed the majority of their call centers in either India or Manila. The problem with that is that 80% of their Customer Service Reps do not speak good English, do not understand Western Law, Western Economy or Western Culture. They provide "cookie cutter" responses read from a manual, versus truly assisting each mortgage holder's issues individually. There is one US call center in Virginia. IF ANYONE CAN OBTAIN THE DIRECT NUMBER PLEASE POST!

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Dwight B.
Newort News, VA  |  February 10, 2012
 
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Company Phone: 8004777095 Company Address: PO BOX 9618 VIRGINIA BEACH, VA

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Disappointed and stuck

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Roeland Park, KS  |  January 26, 2012
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We are upside down in our house with 2 mortgages. HSBC is very difficult to deal with. Before we ran into financial trouble, getting them paid on time was hard unless we were able to pay a month ahead. Their process to receive payments is at least 2 weeks behind. Can't pay with other bills through our bank because they are not set up to receive electronic payments. If you do not pay the exact payment amount, they hold the money and will not apply it so they can keep charging interest.

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Mortgage fraud

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Sperryville, VA  |  January 21, 2012
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HSBC is the worst bank in history. We did not chose them by choice, but was our loan was sold to them. They falsified documents to get us approved for a loan that should have never existed. The branch closed 3 months after refinancing our loan. We are still trying to bring suit against them and save our home. Of course our mortgage is under water and they will not refinance. We filed bankrupt and they modified our loan and after making 2 payments increased the payments again. Dont GO to HSBC!!!!

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Nightmare dealings with HSBC

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Tahlequah, OK  |  January 21, 2012
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HSBC should be criminally charged for the way they treat customers. I have had a nightmare of several years trying to get a rate reduction or refinance. They know they have me over a barrel and you can't get anyone on the phone other than a bill collector. I will lose my home soon. Please never use HSBC.

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HSBC CUSTOMERS

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T/o Cheektowaga, NY  |  January 19, 2012
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Every Customer in default blames the bank. None of them take personal responability for their own actions !! No one at the bank held a gun to your head to sign and take the mortgage. You should have purchased what you could afford based on A Lien Period in your life, you should have purchased a house based on one income if your married, not both. You should have purchased a house you can afford to furnish, heat and repair and not let your eyes of greed pick out the house. create the budget-than find home

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Gale B.
Graham, WA  |  April 18, 2012
 
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H F B C, Don't know what is going on with there company,the people that call,don't know what is going on,I have try to get help from Washington State with complaints about this Company, ,with no help. The person that is writing how good they are need to do a better job; they say the same thing over and over.

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Mary D.
February 28, 2012
 
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So tired of hearing from people like you. Apparently you have never suffered from job loss or sickness (thank god). But guess what what comes around goes around. Hopefully when you go into a nursing home that nurse will be so cruel and you can look back and remember this. I should have been more sensitive to people and their feelings.

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Rick T.
Weatherby Lake, MO  |  February 15, 2012
 
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John, you are insensitive. If you were laid laid off from your job and then got diagnosed with cancer, you would not be so self-righteous. I was making plenty enough to pay my loan and had never been late with anything till the bottom fell out. Unemployment doesn't pay that much but I really hope you find that out on your own.

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Tom B.
Libby, MT  |  February 11, 2012
 
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I purchased a house with another person (as investiment) through HSBC. We both were listed as borrowers. However, when the market tanked and ironicly so did our relationship, I attempted to unload the home, and too my suprise HSBC failed to list me on the deed of trust, so I was unable to liquidate tha property (because I couldnt prove I was an owner). Since, that time the other borrower destroyed one of the dwellings on the property causing it to devalue the property 45 grand. HSBC did nothing to help me, the courts and law could not help me because of HSBC failure to list me as an owner. I have no rights to this property thanks to their poor management! It has been 16 months with no mortgage payment 18 grand behind on primary and 20 grand behind on secondary. I refuse to pay due to I have no power over the property. I have instructed HSBC to foreclose but currently they are doing nothing. The other borrower told HSBC she owns the house free and clear and for them not to contact her. She is living at the residence not making a payment, and HSBC is hounding me for payments that I have no power over because of their negligence.

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Beth S.
Piketon, OH  |  February 07, 2012
 
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HSBC flat out stinks. They sent me a letter saying I did not have insurance on my house. I faxed and mailed copies of my homeowners policy and every payment I had made on my insurance since my loan was sold to them. They still refused to believe I had insurance. I had the insurance agent call them to no avail. They tried to take 3000.00 out of my checking account for insurance they said I did not have and since I was not aware of them taking the money it was denied due to it not being in the account. After that they refused to take my payments and tried to foreclose. We went to mediation and paid the 10,000 they said we owed. I sent the money western union to them and they added the payment to my account, took the money off again and then lost part of the money. They called me and wanted the paperwork from the mediation hearing and when I told them to get it from their attorney which I paid for, they told me they were privileged to that information. I told them too darn bad I was not sending it to them. Thirty days later I got a letter saying I didn't have homeowners insurance and the whole thing started over again. I filed bankruptcy. Then I got a letter saying we abandoned our home. What the hell is wrong with these people? It was not my choice, my loan was sold to these people from hell. Seriously...

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HORRIBLE, HORRIBLE, HORRIBLE Company

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Raleigh, NC  |  January 18, 2012
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I have had a mortgage (several different companies)for over 30 years, and never, ever have I been more disgusted by a company. They are liars, they are harassing and you can be a few days late (like 3) in sending your payment and they will call you day and night, one day I counted 11 phone calls from them and this was after I had taken two calls from them and discussed my situation. AWFUL, AWFUL company I wish I could give them -0- stars.

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They would rather foreclose than help

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Palm Coast, FL  |  January 13, 2012
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My mortgage was sold to HSBC mortgage, all I ever got from my original mortgage company was a letter stating that my payments should start going to HSBC Mortgage, my home is now worth not even half of what I owe on the mortgage, my house burned down in 2010, we rebuilt the house brand new got divorced since, contacted HSBC Mortgage to let them know I had lost the second income and could no longer afford the $1600 a month payment.They said they are not american owned and don't participate in the Obama help

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Hard ship

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Hanahan, SC  |  January 11, 2012
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I have HSBC for my home loan and they suck. I've been in 3 temp mods in the last few years and the only people it helps is the bank. They make more money, my credit is screwed, and I owe more than it's worth. The house needs updating before I can think about selling it. For the next 10 years I won't be able to refi my loan and I make half of the income I used to make. I have 5 people in my home and my int rate is 11.24 and they will not give me a permanent fix were I can keep my house.

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NOT MY FAULT

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Amherst, NY  |  December 08, 2011
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Funny, all the complaints, not one indicates it's the customer fault. 1st remember HSBC lent YOU the money at YOUR request the purchase the house YOU WANTED. No one mentioned that they purchase a house to big or beyound their means. Thats not the Banks Fault. No one mentioned that they wanted a house to keep up with the Jones', not a home they could afford. No one mentioned that they gambled and loss on them getting a raise or even keeping their job. That's not the lenders fault.

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John Q.
Newport, OR  |  December 15, 2011
 
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John L, in a sense you are right, but there have been significant changes over the last few years. Not sure if you've been paying attention to current events. That being said, HSBC epitomizes the word suck. I purchased my home in 2006 when there were no signs of a crashing housing market. I signed on the dotted line at an interest rate that was competitive at the time (8.4%). HSBC had a three year early pay off penalty attached to my loan, which at the time, I wasn't that worried about. Well as the early signs of the housing meltdown started to show through the cracks in 2007, I started looking to refi. HSBC wanted 40k in penalties... Okay fair enough I suppose, I'll try and refi with them.... No they still wanted their 40k and would refi. Alright, I suppose I have to wait until the early payoff penalty drops off (2009). You guessed it, in early 2009, lenders to refinance did not exist considering housing prices were dropping. So John L from Amherst, NY unlike many people, I can still afford to make my house payment and have never been late. My home has lost approximately 30% of its value and interest rates are at historic lows. I've tried several times to talk to HSBC and they have been nothing but disrespectful to me. It's infuriating as a consumer not to be able to take advantage of current interest rates and save a substantial amount of money. I'm not asking to pay less than I owe, I just want a lower interest rate. Because of HSBC and their policies, I could not do that, cannot do that and am now angry enough to stop making my payment. The average length of time in my area for evictions after foreclosure is 22 months. In that time frame I could save my entire current mortgage payment and pay for another house outright. But hey that's me.... I suspect many people posting here found themselves with significant payments, job loss, medical expenses and any other cause of calamity. So cut them so slack and realize that HSBC is a predatory bank with no interest in keeping people in their homes. As others have said and as someone in business myself, I don't understand why a company would want to have all this foreclosed properties other than to write them off of their balance sheet for tax purposes, but they are a company based in China. Hong Kong Shanghai Bank Corp (HSBC).

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Appauled in LA

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West Monroe, LA  |  November 08, 2011
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If you are told your mortgage is being sold to hsbc beg beg beg them not to. We even filed bankruptcy, sold everything and I mean everything to keep our house. Hsbc stated very rudely when called"We will NOT refinance, restructure or modify any loans at this time,so if you are calling for this I cannot help you and hung up in my face. So we had no choice but to surrender our house and are now looking for elsewhere to live. My husband is disabled and I have also become disabled. They do NOT care.

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Jd H.
San Antonio, Te  |  June 26, 2012
 
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To the posters who write about slackers not paying their mortgage...most people WANT to pay their mortgage. Situations change many people have lost jobs,taken pay cuts or in our case have become disabled. I receive social security disability and it is 1/4 of what I was making when working. I have an illness, this illness required surgery, the surgery took away any chance of me returning to my profession of 32 years. My house payment is 200.00 more a month than my income now. HSBC gave me a temp. mod of 200.00 off. Now I can pay them and have nothing left. There are others that shifty loan practices have led them to buy homes they can't afford. They should never have been qualified for these loans to begin with the loans were designed to fail. So those of you pointing critical fingers at ppl who need help who want to save their homes, who want to pay their bills, and are dealing with a bank that refuse the guideline of making homes affordable...Are you employed by HSBC? Or just superior human beings? I hope you don't lose your source of income and become like us mere mortals. The Making Homes Affordable program provides credits to banks who support this program. HSBC could provide this service and still profit. They just choose not to. Must be more profit in being non-responsive.

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Stay away from HSBC

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Saint Paul, MN  |  October 31, 2011
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We have had a mortgage with HSBC for 7 yrs. We have never been late on a payment and we take our financial responsibilities seriously. My 40-something-year-old husband was diagnosed with terminal stage 4 cancer and cannot work. It took 6 months for disability to begin. HSBC was not helpful in setting up a modification. They will not refi so I can afford to stay in our home with our 4 children.They are greedy and miserable to deal with. They told me to arrange for a short sale.hope the Obama plan works 4 us

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Rick T.
Weatherby Lake, MO  |  February 15, 2012
 
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I too have been diagnosed with cancer and find them to be rude and extremely difficult to deal with. They have given me a 6 month mod twice and denied me 6 other times after I was laid off and then got the bad news about the cancer. I am now trying to refi thru the VA since I am a veteran which looks like the only hope I have to get out of a 8.78% loan.

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HSBC IS AN EVIL BANK

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C/o Newburgh, NY  |  October 06, 2011
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Right now my home is foreclosure because they wouldn't work with me. HSBC is an evil bank it's their way or no way. You figure with the interest rates down to 4% you think they would do something for me. I even wrote pleading letters. I was granted a sit down with HSBC through orginazation that help people who have mortgage problems and HSBC still will not do nothing for me. Instead the person told me to file for bankruptcy- which I did to buy me more time. That tells you everything that they're all about.

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Shiree L.
Virginia Beach, VA  |  February 22, 2012
 
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How long did it take HSBC to foreclose on your property. how late were you?????

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Problems with HSBC underwriters - rating is for them NOT ther excellent people in the Branch

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September 30, 2011
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I have been a personal and business customer of HSBC for about 20 years, I have paid off my mortgage but have an interest only loan of 90,000 which runs out on the 25th November. I have asked to extend it as I need to sell my house first but they said they dont do that now. So they suggested an interst only mortgage for 5 years, as the last child will finish University in 2013 that gives me 3 years to sell it but HSBC underwriters say they will not lend to people who rely on the sale of their property !!

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HSBC Refinance Rates are Good

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Boston, MA  |  September 19, 2011
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With rates so low, i thought it was a good time to refinance my loan. HSBC had very good and competitive rates.

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September 12, 2011
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Everyone I talk to is having success getting their mortgage refinanced but HSBC does not want to work with you. They offer temp hardships only. Seriously, if they can reduce a payment to make it affordable and still make money on the loan, why in the world would they want a house in foreclosure to lose 100k or more in this market when they sell it?

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Can't Catch a Break

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Byron, GA  |  September 03, 2011
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This is crazy i bought my house 5 yrs ago, brand new they told me i could refi in 3 yrs it didn't happen. Loan now turns into a ARM at 10.22%. I have asked for a modification three times I have gotten each one and made the payments, my issue with them is i can't afford the regular payment. The sad thing is if you haven't missed a payment none of these organizations that are setup to help will help you. If you miss a payment your credit tanks and now you cant get a refinance from anyone.Foreclosure anyone?

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HSBC - They systematically steal from the customer - IMHO!

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Milton, GA  |  August 19, 2011
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I'm lucky to be able to pay my mortage in this economy. Unlike our Gov't, I'm living WITHIN my means! I'm managing my expenses effectively and reducing ALL my debt as fast as possible. HSBC and its Mgmt are trying to steal from me while I do this. How you ask? They do this by systematically ignoring my extra principal payments and apply my extra payment amount to NEXT months payment. They charge me INTEREST in ADVANCE when I make EXTRA principal payments. I think that HSBC makes decisions to hurt their customers.

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Refinance Nightmare with HSBC Mortgage

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Highland Park Bor, NJ  |  July 21, 2011
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I just wanted to refinance my mortgage to lower interest rate and shorten my term. Needless to say the process turned into nothing but nightmare. There was no problem w/ my credit, income, very much any criteria with my financial check. They simply couldn't get their paperwork in order! It was like somewhere within the Bank, there's a black-hole systemically lossing documents. At the end, I simply called off the process!!

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Henry W.
January 27, 2012
 
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Just walk away. Everyone should walk away. You will never get your investment back. This is it folks: the biggest swindle in your lifetime. Don't spend the rest of your life behind on your payments.

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Angela S.
Nelsonville, OH  |  July 26, 2011
 
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HSBC sucks the life out of you!! My husband and I naively switched our mortgage to them along with a "bill consolidation" plan...boy were we STUPID!! They WILL NOT work with you to help you in any way if you struggle, just threaten foreclosure. All the "local" offices shut down, calling them for any reason turns into a nightmare quick! They are rude, uncaring and unprofessional. Wish I could give them negative stars as a rating!

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Northern Cambria, PA  |  July 18, 2011
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HSBC has done nothing but cause us grief. They charged us for paying our taxes when they were already paid. i faxed and mailed the receipts to them several times showing that I had already paid them and thay continue to charge me monthly for this so called advance. it has been 15 months and it is still not resolved. i have requested their tax dept to open an investigation and review our mortgage and I get letters saying they will however nothing ever changes. You are literally at their mercy.

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Terrible to Deal With

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White, GA  |  June 09, 2011
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These folks are terrible to deal with. They call WITHIN the grace period wanting to know where the payment is. They REFUSE to refinance which would make my payments be RIGHT on time. I can't stand them.

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Brain T.
Bell Gardens, CA  |  December 21, 2011
 
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I hated the phone calls during grace period, I continually yelled at them and demanded I be taken off their call list. They finally took me off. I said for them to call me when I'm actually late. never been late. I would never deal with them again. They just happen to have the lowest rate at the time when I shopped around.

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Everything Changed

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Cortlandville, NY  |  April 26, 2011
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They solicited me to refinance. I was assured that the only out of pocket was the app fee. Last week I got new loan docs because "the parameters changed". I had to call to find out what changed, was told I need PMI because of low appraisal. Now I'm told that I have to pay off 2 revolving credit accounts and show funds to close. Again - at the start I was told no money at closing. If I'm affording the higher pmt, I can afford the lower pmt with those revolving credit accts. Illogical, difficult.

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John H.
Brentwood, PA  |  July 11, 2011
 
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I cant stand HSBC Mortgage. I have never been late on this 8.5% loan I called to see if we could refinance at a lower rate which they replied we dont do mortgage loans any more ???! What are they talking about, the house is now up for sell, anything to get out from under HSBC.

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Sean S.
White, GA  |  June 09, 2011
 
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I am shocked they even let you refinance. They refuse to let me.

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Just another company - HSBC MOrtgage Review

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Ashville, AL  |  March 14, 2011
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HSBC Mortgage is very difficult to deal with. They only work there way and that is the only way. Will not do a HSBC mortgage refinance to a lower interest rate at all. I am supposed to be fixed rate and just found out it is adjustable 9%. I am screwed. I would love to change companies but it is too late for me now. Nobody wants to help u when u are in trouble. HSBC Mortgage will not deal but one way and that is their way! HSBC was unaccomodating and difficult. I feel like I got screwed.

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Custome Service

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Houston, TX  |  December 02, 2010
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Customer service and the collection department are very rude and they hung up on me without trying to help me. Due to the fact that I did not get approved for another modification plan, because I have extended them, they recommended I quick sale my home, since I cant afford to make my monthly payment of $1,800. I only gross $2,600 monthly. I think HSBC is a terrible company with employees who are not helpful. Their ultimate goal is to take your home.

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Sean L.
San Francisco, CA  |  December 06, 2012
 
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Mark B. Not everyone lives in Cheektowaga NY where mortgages payments are less than $500 a month and value of home is less than 40K! I purchased my Calif. home for $300k with a interest rate of 5.5% in 2004. No sign of housing crash. I lost my job in 2010 because the pharmaceutical co. i worked for over 30 years and my co. decided to outsource our jobs to india and phillipines! I could not find work. I went thru my 6 MONTHS OF SAVINGS and then some to continue to pay my mortgage. HSBC did not help me. they lowered interest to 4% and said that was all they would do. Don't judge others situation. Hopefully you dont find yourself in the same boat! You probably work for HSBC cuz they are based out of depressing Buffalo NY where houses cost nothing!!

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Lynn K.
McMinnville, TN  |  August 21, 2012
 
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Not everyone who loses a home is reckless, a big spender, or a slacker. Sometimes life throws you a curve-ball such as life-threatening illness or death of a loved one or loss of the family's main job. There are lots of people who work like dogs and can't make ends meet due to circumstances beyond their control. Don't forget that innocent children are also hurt by these dire circumstances! Be careful how you judge others because you may one day find yourself in a hole you cannot climb out. Be humble and thankful that you have the ability to pay your debts today. It could be you tomorrow.

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Mark B.
T/o Cheektowaga, NY  |  February 22, 2012
 
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There it is, looking for hand-outs. why didn't you have a savings account with 6 months reserves to pay your bills. ooh theres a thought, save for a rainy day, who me. anybody will help someone who has a non self causing catastrophic event, but the entilement attitude. for get it. You need to save like our grand parrents did!! prepare for the future but no you had to fill the house with new furniture and get that flat screen tv, not to metion you bought a house before seeing what you could afford instead of having a budget and only look at what one paycheck income can afford and look at that price range homes. You dont make enough for what you want than save or go work hard at educating yourself for a better job or business. Quite blamming evrybody else and quit expecting everybody to rescure your butt for not being smart in the first place!! Its not my job to pay for your mistakes !!!

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Mark B.
T/o Cheektowaga, NY  |  February 22, 2012
 
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There it is, loking for hand-outs. why didn't you haev a savings account with 6 months reserves to pay your bills. ooh theres a thought, save for a rainy day, who me. anybody will help someone who has a non self catastrophic event, but the entilement attitude. for getit. You need to save like our grand parrents did!! prepare for the future but no you had to fill the house with new furniture and get that flat scrren tv, not to metion you bought house before seeing ehat you could afford instead of having a budget and only look at what 1 paycheck income can afford and look at those homes. you dont make enough for what you want than save or go work hard at educating yourself for a better job or business. quite blamming evrybody else and quit expecting everybody t rescure your butt for not being smart in the first place!!

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Kim S.
Sledge, MS  |  February 18, 2012
 
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You are very rude. Everyone has some trouble in their life. We all are trying to keep our homes. Yes, HSBC is very rude. and for you, sir, be careful what you say, because it can be you oneday. If you are so smart and never have problems, then help someone else out and help them pay their mortgage for a couple of months.

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Sandie L.
Mira Loma, CA  |  February 16, 2012
 
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Regardless the bank shouldn't be advising people to be late on payments!!! and more importantly they should be respectful without mortgages they wouldn't have jobs!!!

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Dwight B.
Newort News, VA  |  February 10, 2012
 
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I would love to know where you are at today. Evidently, you are not a customer of HSBC, nor their affiliatess (like Beneficial). If you call them and they tell you that in order for them to modify your mortgage, you must be 90 days behind, and you previously have never been late, so you skip three payments to meet their policy, only to find out from another rep that is not their policy, that has nothing to do with not being able to afford your house. REGARDLESS of whom these people speak to, anyone that answer the phone at HSBC is representing the company, so any information they give you is considered binding in your eyes, and should be binding and honored on theirs.

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Mark M.
December 06, 2011
 
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who was the idiot that bought a house they couldnt afford and purchased a house when the market had begun to show sight of value issues. everybody wants to blame the lender for thier lustfull eyes of a home they had to take a interest only loan to afford it, how dumb, also a home that was way to big for them, how dumb,peple wake up-you buy a house first, than you go back home and do a budget to see how your going to pay for it. why dont you get your busget first than go only look at homes that fall int hat range. quit blamming everybody but yourself for your mistake and quit blaming everybody else for you not performing your dudiligence. You dont see the lending buying other business untill they do their investigation. You need to do what companies do, guess thats why your poor and they are rich!!

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William G.
Peru, IN  |  November 30, 2011
 
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THis doesn't make sense. A chinese company thats main goal was to buy as many arm morgages as possible knowing that the home market would crash?

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Robert F.
Middleborough, MA  |  November 22, 2011
 
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HSBC should not be allowed to do Business in the US. It is a Bank From China, All the People here who have a Mortgage with them should have a aduit Done on the Loan to Find any errors. 35.00 with of errors can void the LOAN! I have a Lawyer working on it Now.......as they have screwed me over as well as BOA.

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Shay J.
Douglasville, GA  |  November 02, 2011
 
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same boat, five yrs no missed payments but found out we are blessed w surprise baby. two kids on way to college. thought they would work with us since never late, 8.9 interest. but they sd the only perm solution is a deed in lieu even though not in foreclosure. the kicker, they say they will pay us money since we have not abandoned property on underwater loan. bought for 176k now worth 70k won't go after us for balance ?go figure

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Matt B.
Westland, MI  |  October 26, 2011
 
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Well that day finaly arrived...the funny thing is that HSBC didn't take any bail out money from the govenment, so they don't take part in the obama plan. Washington mutual sold my loan to hsbc, now I am stuck with a sucky rate....8.99 adjustable rate. And we are upside down iin our loan paying 1400/mt for a house that is worth 90k if that where is the justice in that!!!!! How can the banks do this to people. We want out and into a better home, granted we are never late with our payment for the passed 10 yrs now.....we deserve better and the people who took the easy way out and forclosed on there home look out cuz they might come after you....not now or tmrw....but down the road you might get that letter saying hey you owe us in full.

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Anonymous Bankster A.
October 25, 2011
 
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No! Don't make late or "trial" payments. This will reduce your credit score and prevent you from refinancing if you want to consider that route. After December 31, 2011, Obama's new program is expected to take effect, which will allow you to refinance even if your home is underwater. Even presently, you can presently include a blood relative on your primary residence to qualify for income. Combined, this should enable 90-95% of people to be able to refinance to today's low rates. BUT, you cannot have more than one late payment in the last 12 months and NO late payments in the past 6 months. If you pay late or only pay a "trial payment" for one or more months you will not qualify and will have to wait up to a year. If your home is "underwater" (worth less than owed), wait for Obama's new program to qualify, otherwise use a blood relative to qualify for income and you should be able to escape without going through a troublesome loan modification. Though if you still decide to pursue this route, I would recommend www.naca.com, which is a reputable non-profit that helps with loan mods.

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Aninymous S.
August 30, 2011
 
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I know it bites on your credit score but the only way to get them to help is to show them that you cannot make the payment. If you cannot pay and dont pay for a month or two just tell them you don't have it. Then they will modify. I'm working with them and have been modified 4 times now. Not enough of a reduction but at least I can buy groceries now.

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Heidi H.
Brooklyn, NY  |  August 24, 2011
 
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I have exactly the same experience. I have tried 2 x to modify my mortgage, same experience. I have never fallen behind, but there was NO help from HSBC to lower my interest. Any advice on how to get out of this bank? Thanks,

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Jon J.
Port Richey, FL  |  August 17, 2011
 
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If you cant afford your house u cant afford it. Rude or not

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TIM D.
Jacksonville, FL  |  February 22, 2011
 
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Dealing with HSBC is like pulling your own teeth, painfull as hell. They are the rudest people I have ever talk to. They dont care about customers and they are not friendly. I have been in my house going on six years and never lat. They will not refinance me and want to force me to foreclose on my house. I want a better rate and i have an adjustable MTG now Who knows what I can do now?They recommend i be late on payments. NOT!

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Jeff D.
Tucson, AZ  |  January 14, 2011
 
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Hey, guys I'm in the same situation with HSBC, yes very difficult people there.

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Lisa S.
Colorado Springs, CO  |  January 10, 2011
 
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funny i am in the same situation and i agree i also learned these people fr this bank are based out of china and no one else can help us because of this .. i would sugest every one stay away from this bank..

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