HSBC North America Holdings Inc. Mortgage Complaint

HSBC North America Holdings Inc. Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure Michigan

We refinanced our home in -, - with - -. In doing so, it was a predatory ARM. We received a letter from the bank officer stating that we would refinance incurring no additional fees after our credit rating had improved within six months. The mortgage was then turned over to - - which in turn sold it to HSBC without our knowledge until we received the monthly mortgage statement with HSBC in -, -. With the building trades businesses failing in the Michigan downturned economy, jobs losses, our family was forced to file bankruptcy in -, - and we did not affirm our home. In doing so, the present mortgage servicer HSBC Home Mortgage Services , Inc. will not renegotiate with us concerning a lessening of the terms of our original note. We have an ARM of 8.45 %. We have paid up to - % of our home income to be able to keep living in the home which we built and raised our family in. We had to apply to StepForward of Michigan to get the mortgage current in the amount of $5400.00, the interest was deferred on the back of our loan which is now a


but they only backended the interest so our principal reduction in the loan is added on, with interest on top of interest. We need a path to be able to keep and afford our home before we are forced into retirement which will be upon us shortly. I hear about all of the HARP Programs that will expire -/-/-, we need your help. HSBC is not a TARP participant which was detrimental in our case. We are asking for a conventional fixed mortgage instrument with a manageable interest rate in step with the rest of the public. Due to the nature of our mortgage, we have not been able to pay down our principal like it should have been, and because of our market conditions in our area, we are still under water with this note. We saw the settlement the State of Michigan received from HSBC and would like to have relief from this predatory note. Please consider our plea.