Consumer complaint received 2016-10-21 00:00:00
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: NY

Complaint narrative:
In XXXX XXXX I contacted HSBC to see if I could qualify to have my existing mortgage modified to reduce my cost. I was an existing HSBC mortgage holder. I was assigned a case manager who was going to help me with this process. 
I have been officially placed on permanent full medical social security XXXX as of XXXX XXXX. 
XXXX XXXX was assigned to me as my case manager by HSBC. 
Several months went past and I was finally asked to do a 4 month trial payment to see if I could afford the modification. My trial term started XXXX XXXX and was thru XXXX, XXXX and XXXX. 
My original loan payment was {$1100.00}. My trial payment was {$1600.00} I was told I could no longer pay my mortgage at my bank and my new loan officer would take a payment directly for XXXX of my checking accounts. I complied with all requests. 
Upon completion of trial payments, I was told I qualified for my modification. I was sent some info telling me the new APR was 2 % fixed. 
A set of contracts were sent to me on XXXX XXXX. However now I was told HSBC made a mistake and the new APR would now be an adjustable at 5years @ 2 %, next 5 years at 3 % and on the 11th year it would cap out at 3.75 % .. I was n't happy with their making such a big mistake But I agreed to this new term.. I was told a new contract would be sent to me with correct information. I have still to this day ( XXXX ) have not received it. 
There was also a question of the amount of my new mortgage. It was raised from {$170000.00} to {$180000.00} I was told {$4900.00} was added to create an escrow account. 
An additional charge of {$2500.00} was added for accrued interest. I questioned this since I had never made a payment late. HSBC as told me at least 3 different places where they were putting my trial payments. 
There was no transparency from HSBC as to where all my payment were going There was no explanation of why I was being charged for accrued interest. ( I made all payments on time ) 1st ... principal and interest was taken and the additional money was put into forming escrow account. 
2nd ... Then extra monies were moved and now put in a suspense account. 
3rd ... Then I was told the extra monies were moved to pay down principal. 
HSBC could not decide what to do with my payments. 
After a very frustrating conversation with XXXX XXXX, He told me he would no longer work with me and put his supervisor in touch with me. 
My new loan officer was now XXXX XXXX. He was unable to answer any questions I had and kept telling me he needed to check with his department and would get back to me. 
Finally I was handed over to a supervisor XXXX XXXX. 
All this was over a 4 week time period. 
All along I was assured my modification was approved and new contracts would be sent. 
Now my mortgage was sold by HSBC as of XXXX. I was told by HSBC not to make a XXXX mortgage because my new loan would take effect on XXXX XXXX. 
No contract has ever been sent to me and HSBC has left me hanging. They had 10 months to close this loan, but did not due to their negligence. 
Lastly, I retained an attorney to help me with this process. I was told I need to put in writing his name and info. I faxed this info to HSBC on XXXX XXXX and was told they need 24-48 hours to verify info. 
I was told by XXXX XXXX on the following Thursday ( XXXX XXXX ) that he was still not verified and they would not allow him to speak on my be half. I feel they knew my loan was going to be sold and just procrastinated to not have to fulfill their obligation to me. 
I have been left now with no answers and no explanation to their process and their refusal to further assist me in any way. 
My new loan company has told me that they can not answer any questions till XXXX and I do not know if all my time and work with HSBC has been in vain. The new mortgage company is not under any obligation

Company response to consumer: Closed with explanation