In 2002 we refinanced our 2nd mortgage with HSBC/houshold finance on a 15 year note. The loan officer came to our house to go over the contract. He said if we pay 475.00 a month we would payoff earlier than the 15 yr contract. None of this is in righting of course, not even him stating, when spacificly asked if there was a baloon payoff, "NO".
In 2004 my husband broke both bones in his leg & could not work for 3 months. We called both the 1st mortgage co. & HSBC to see if we could put just those pmts @ the end of the loan? Thay both said no & we were left with no choice but to file a chapter 13 bankruptcy on just those 3 months.
While in a 13 the creditors cannot contact you by phone or mail untill you reafirm the bankruptcy with the courts, about 3 month after filing then you have to send them a statement requesting that your monthly payment statements be sent to you again.
After reafiming w/the courts we contacted HSBC to find out what our monthly payments were & we were told thay could not tell us untill we faxed a request for the monthly payment statements to resume. We told her we had, to "maryanne mosley". She said thay had not received anything & to fax another request to "christy maldonato". My husband asked how he was supposed to know what to pay if she couldent tell him? She said i cant tell you, my husband said "so will 450.00 due & she said "yes".
Months latter when we had still not received our statement we contacted our bakruptcy attorny & her assistant, camille, said she would take care of it.
It has been over 2 years now & still nothing but our 1099 is sent to us. On Feb 1 after recieving our 1099, my husband called & asked again what are pmt was, the woman said 311.00. So we figured we had paid quit a bit of inerterst dowm, 6500.00 about.
But according to the 1099 we hadnt & not 1 & i mean 1 representative has been able to give us a constant answer OR payment. So we pulled out our loan contract & to are amazemant, its a "revolving home equety line if credet" for 40,000.00 on an adjustable rate with a big fat ballon payment due in 180 months, 15 years. So for the 5 years we have now had this loan all of our payments except 25.00 have been interest & on the date it is to be payed in full we will have a final baloon payment of about 35,000.00 or more. Know one at HSBC can tell us were the extra we have been sending each month (according to 1 of there reps) has went.
On Feb 5th i called to make a direct debit pmt from my acct because a woman told my husband that every day after the 5th, our due date, it acrues interest @ a daily rate & that has been taking part of the extra we had been paying. (but my contract states that i have 15 days from the due date to gat my payment there.
So she tells him to call on the 5th of each month to insure no penaltys, accrued interest etc. So on the 5th i call & get "Bob Diez" that tells me we are 3 months behind & decembers payment was 311.00 & januarys pmt was 400.00 something. I told him we were NOT behind so what should i pay? He said i dont know. I told him to just debit the 311.00 untill we could figure out what was going on & was the extra we have been sending for the last 2 yaers was going to late fees & interest from our bankruptcy & he said "yes" (i havent been able to find out for sure if thats legal but everyone i've spoke to says no).
5 minutes later my husband called them & a woman said she could not find any figures like that but to get us current for feb. Our pmt was 519.00 so he paid the diffrence of what i just paid. The next day he called & a girl said she could see the 519.00 we just paid but it wasnt posted anywhere. The next day, feb 7th, my husband called again & that lady said she could only see the 311.00 that i paid on the 5th.
To this day we still have never received a monthly payment statement that is on an "adjustable rate" or our payment history that we have requested for years!
Todd & julie
West Bountiful, Utah
U.S.A.
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