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Have lived in home, 15 years, some deferred payments when job lost occurred 4 years ago, unable to refinance{we really do not want to} but we are still paying mortgage, but receiving harassing calls daily after a payment is made. Mortgage holder is HSBC Beneficial. Please advise!
We’ve also asked about modifying the loan, the we have been denied.

4 Thoughts on How do you get out of a bad mortgage lenders grasp?
  1. Reply
    March 18, 2012 at 12:04 am

    There is no way you can just select and change lenders because of problems. Some mortgage lenders are more aggressive about monthly mortgage payments being late and will make telephone calls inquiring as to why.

    Even if you was successful at getting a refinance through another lender, with the way the mortgage industry is and the way it is set up. You could wind up with the same lender once again because your mortgage would be sold the very same day it closed.

    You may not select the company that purchase your mortgage note.

    I hope this has been of some benefit to you, good luck.

    “FIGHT ON”

  2. Reply
    March 18, 2012 at 12:17 am

    Everyone thinks there mortgage servicer is the worst mortgage servicer. HSBC does not participate in any government sponsored modification programs. Although, the lenders that do participate rarely modify loans anyway. Bring the loan current over time if you can. Avoid going into foreclosure status and ignore the calls.

  3. Reply
    real estate guy
    March 18, 2012 at 12:43 am

    First, what is the phone calls about.

    I’m betting that you are getting calls after the 1st of the month asking where the payment is. You may have mailed it, but they haven’t received it. The payment is DUE in their office on the FIRST of the month. YOu have 15 days grace period before a late charge is filed, BUT AFTER THE FIRST, the payment is late.

    If you don’t want a call, mail the payment so that it arrives BY THE FIRST, or set up a auto bank payment for the first.

    The reason for the calls? You are considered a risky client because of the deferred payments and asking for a modification.

  4. Reply
    March 18, 2012 at 1:06 am

    i assume you have still not caught up on the past payments. try ringing them and see if they will accept extra money on top of your regular payment so you catch up and try and come to a suitable arrangement. you should also tell them that the harassing daily calls are causing a lot of stress to you and your family.

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