Consumer complaint received 2015-07-24
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: FL
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I have tried for the past 5 years to get a loan Modification with HSBC, it all started when our financial situation changed and HSBC put a forced insurance policy on the house when there was a lapse in the new coverage. The combination of the loss of income & increase mortgage put us in a detrimental financial situation. A modification packet was sent in all the paperwork they requested, we kept a log of all the calls and emails and soon realized they would take weeks to get back to us only to say that they needed more paperwork. Meanwhile HSBC filed a foreclosure case. After 6 months of going at it, we realized that every 30 days the modification was restarted by them. We must have submitted over XXXX modification packages. We contacted XXXX XXXX Counseling agency to see if with their assistance we can get better results. Nothing happened. We hired an attorney, the attorney got us to a Mediation with the XXXX 's XXXX, at the Mediation hearing it was agreed that they had all the paperwork required and a trial period would be started, they only needed for me to fax them XXXX additional piece of paper. We called and called and the trial was never started, they wanted a new packet. We called the Mediator and she stated she would reach out to HSBC but nothing happened. So stressed and dissapointed in the lack of effort on HSBC we just figured we would wait until HSBC came back to us and really wanted to help us work things out as nothing we did on our end was working. The foreclosure continued and in 2014 we decided to start the process again we had been told banks were now streamlined the modification process. We filed another modification packet, send it via Priority mail with proof of delivery, it is received by HSBC but they only uploaded part of the package they did not know where the rest of the packet was " THEY LOST THE MODIFICATION PACKET I MAILED IN '', so I need to resend the packet so this time the case manager gives me her email, I email all XXXX pages. By now I am speaking with the case mananger daily who is telling me they have everything I should have an answer soon. Two weeks go by I get a letter in the mail they are missing paperwork I sent directly to the case manager 's via email two weeks ago. The case manager is out sick at least once a week, she goes out on vacation, etc. this goes on for 6 months, always missing some paperwork or 30 days have gone by and need to submit new paperwork. I requested to speak with her manager and initially this new manager tells me she will handle, with her I finally get a confirmation that they have a completed packet, this is about 6/7 months after I started again in 2014. Since I know this packet is only good for 30 days I am on the phone every day asking making sure no other paperwork is required and I will get a decision. On day XXXX when I call in they tell me they are missing a updated form and that unfortunately I will need to resubmit, INCREDIBLE! I am beginning to fall ill due to the stress and the inefficiencies with this company, two more months go by I get the manager 's supervisor, top person in Modification to listen to my concerns and she steps in to help ... couple more months go by but at least she is a bit more responsive. New packet requested and is sent via email to both supervisors, case manager and general HSBC modification email after 28 days I got a call today after calling multiple times that the modification was DENIED because the principal & interest is greater than debt, do n't even know what that means but I just feel they have just denied it to avoid working out a solution, we qualify under the financial parameters, HSBC is deliberately doing this to take our home away. They have put up every barrier they need to make sure they do not provide a loan modification. I think it is totally illegal what is being done here.

Company response to consumer: Closed with explanation