HSBC Mortgage Complaint

HSBC Mortgage department,

Home equity loan or line of credit Loan servicing, payments, escrow account Virginia

After - I had financial troubles because i lost some of my income. I contacted all my lenders at the time, and none would help me because I was current. After some of my payments faltered the lenders started calling me to collect. I had troubles making payments until - or so with HSBC Mortgage Services. The agreed upon a payment plan to bring the loan current around - -. The begun debiting my account directly around the same time for an agreed amount of - or so per month. They never explained to me that the - per month would never bring the account out of the rears and they did not explain to me either that they did not make a loan modification. After i noticed that my debt was not coming down, I contacted HSBC again to see why this was happening. The informed me that the amount was not enough to cover and pay the amounts in the rears. So I accepted to increment the monthly amount to - per month. The Loan should have come to current in - - but HSBC did not apply the payments correctly. So in - - I had to call to get the payments applied correctly. After they corrected the payments, they stopped reporting credit to the bureaus and all through out the period of time where they were drafting money from my bank account per the arrangement, they were reporting that I was paying Late.