Date Received: 2016-09-30
Issue: Settlement process and costs
Subissue:
Consumer Complaint: Here is the background of this transaction : There are XXXX units in the XXXX XXXX XXXX. Because more than half of the units are rented, federally-guaranteed mortgage financing is not available to unit buyers. Moreover, XXXX XXXX is in need of costly building repairs that can no longer be deferred. As a result, the market value of XXXX XXXX XXXX units has been severely depressed, and the only recent sales of XXXX XXXX units have been for cash and at deeply discounted prices. I and many other XXXX XXXX owners have been trying to sell our units, but we have not been able to do so without selling for a below-market price. Faced with this situation, XXXX XXXX hired a broker to find a buyer interested in buying our entire building - that is, all XXXX units and all of the common elements -- and then de-converting our condominium to a non-condominium apartment building pursuant to Section XXXX of the Illinois Condominium Property Act. Section 15 authorizes transactions of this type, and Section 15 requires that every owner must sell his or her unit when a bulk unit sale transaction has been approved by 75 % of ownership. The broker found a buyer ( namely, XXXX ) who is willing to pay a premium gross purchase price of {$390000.00} for all XXXX units in XXXX XXXX in a bulk purchase transaction pursuant to Section 15 of the Illinois Condominium Property Act, with a portion of the purchase price allocated to each unit on the basis of each unit 's percentage ownership interest in the common elements. The proposed transaction with XXXX XXXX XXXX presents an especially attractive opportunity for my unit. The price that XXXX XXXX XXXX XXXX is prepared to pay for my unit ( and the other XXXX units in XXXX XXXX ) is at least 20 % higher than the price paid for any XXXX XXXX unit in many years. Moreover, the bulk sale structure involves significantly lower brokerage commissions. The proposed transaction with XXXX was recently approved by over 80 % of XXXX XXXX 's owners, so Illinois law requires that I and every other XXXX XXXX owner deliver clear title to our units to XXXX at closing, which is currently scheduled to occur on XXXX XXXX, 2016. In the case of my unit, the good news is that my unit 's 5.11 % share of the net proceeds of sale will generate approximately {$200000.00} -- all of which will be paid directly to you -- which is substantially more than what could possibly have been generated in a conventional private sale of my unit. However, the bad news is that approximately {$210000.00} will not be enough to fully pay off my mortgage with you, even though I will not be receiving any money from the sale of my unit. The Illinois Condominium Property Act contemplates that all lenders release their liens upon payment of 100 % of the net proceeds of sale in a Section 15 transaction, even if the net proceeds of sale are not sufficient to pay off the entire mortgage debt. Therefore, I am notifying you of your obligation to provide a mortgage payoff letter and release of your mortgage lien for my unit 's share of the net proceeds of sale, so my unit can be sold as part of the Section 15 bulk sale of all XXXX XXXX units on XXXX XXXX, 2016. The lender has refused to release the mortgage and they continue to add on late fees and other fees every month. I believe they are doing this to increase the amount of deficiency that I will owe. My question is do I have any recourse in regards to them not releasing the mortgage. The mortgage company HSBC 's lawyer advised them to settle and they still refuse. This is a clear violation of The Illinois Condominium Act. I would like to file a complaint and to pursue legal action. Can you please advise me on my options? Thanks!
Company Response:
State: CA
Zip: 90292
Submitted Via: Web
Date Sent: 2016-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-10-01
Issue: Settlement process and costs
Subissue:
Consumer Complaint: sorry i forgot also in our complaint they said they talked to XXXX county about our taxes we live in XXXX county prof they have us mixed up
Company Response:
State: NJ
Zip: 086XX
Submitted Via: Web
Date Sent: 2016-10-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-03
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have a 15 year second mortgate that I have paid to HSBC on the XXXX for the last ten years. 3 times this year, they applied the entire amount ( {$600.00} ) that I sent to the interest and charged me a late fee for not paying the principle.
Company Response:
State: MD
Zip: 208XX
Submitted Via: Web
Date Sent: 2016-10-03
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: No
Date Received: 2016-10-01
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: I tried opening a checking account with HSBC on XXXX XXXX 2016. Followed all the instructions and initiated opening balance of {$1500.00} to be deposited into that against my application id. Payment also went thru. After that i just keep on getting emails from HSBC - somebody sitting in XXXX asking me to send the driver 's license, utility bills etc ... all done within the next 3 days. So around XXXX XXXX 2016 - all the formalities were done. I just have my application id and nothing else from them. HSBC expect the customers to know about their secure messaging system to communicate with them which is quite a task also. Now after the wait of more than 2 weeks ( when i did n't got any email or communication in terms of what happened to my account and the deposit ) -i called them up. They asked me to call to their call customer in some peculiar time zone ... i called ... they were totally clueless why my account is not created and what all is needed from their side. In spite of providing all the documents in time and doing all sort of follow up - i have no idea where i am in this account opening process? What happened to my deposit also? Moreover i opened this account with the promotion code ... i need to have direct deposits within 120 days ... if this is the pace HSBC work - then definitely i will miss my promotion also ... .most importantly why they are troubling the customer so much in terms of account opening process?
Company Response:
State: AZ
Zip: 85254
Submitted Via: Web
Date Sent: 2016-10-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-09-29
Issue: Using a debit or ATM card
Subissue:
Consumer Complaint: I filed a report with HSBC in reference to a few fraudulent charges on my checking account on XXXX XXXX 2016. When I spoke to a representative from the fraud investigation department they had stated that I would be receiving a provisional credit while the investigation is going on. I waited after 10 business days and still did not recieve a provisional credit. I contacted the representative that was handling my case and she stated that the provisional credit was denied. I inquired why and she did not provide me with a valid reason and continued stating that I need to take liability for the loss of money in my bank account. I told her that I need the provisional credit to provide me some relief since a large sum of money has been taken out of my account without my permission. She was unsympathetic and continued with her statements that I will have to wait until the whole investigation is over. I stated to her that I am at a loss and I have financial obligations. She stated that she could not issue a provisional credit and I could talk to the supervisor. I spoke to the supervisor and he continued to speak to me in a derogatory manner. I stated that I wanted more information on why my provisional credit was declined. He stated that I needed to be more careful with my debit card and basically put all the blame on me instead of offering me support. I stated if he could authorize a provisional credit since I had pending financial obligations. He continued to state that it was my fault for the fraudulent charges and due to that I need to wait until the whole investigation is completed. I stated that I have followed through with all requirements including filing a police report and mailing the fraud claim form. He stated to me that I will have to file a police report in every state where the fraudulent transactions took place. I stated that I was not informed by the woman who is handling my case that I need to do that. I stated that I want in writing in regards to the policy that HSBC utilizes when handling fraudulent transactions. He did not comply. I told the supervisor that I am deeply unsatisfied with HSBC and would appreciate if I could get provisional credit. He declined my request and continued blaming me that I caused the situation that I am in.
Company Response:
State: NY
Zip: 110XX
Submitted Via: Web
Date Sent: 2016-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-09-29
Issue: Balance transfer
Subissue:
Consumer Complaint: In XXXX XXXX, I accepted a Balance Transfer/Cash Advance offer from HSBC for 0 % until XXXX. I understood that this only applied to the balance transfer and that purchases and fees needed to comply with minimum payments and the card interest rate. I expected this to be as other Promotions from other banks make monthly, periodic, or a balloon payment prior to the end of the term and no interest would accrue. Payment was made in XXXX for all purchases and transfer fees in full. As was not using the credit card and did not plan to pay the balance until XXXX XXXX or XXXX XXXX, no payments were made in XXXX, XXXX, nor XXXX. In XXXX I noticed, late fees upon late fees, interest charged on the late fees. I met at the branch to resolve the matter. HSBC reversed the fees and interest but with no notice to me closed the account and reported delinquency to the credit bureaus and changed the interest rate to 30 %. Now then, I am a " Premier '' customer and HSBC is refusing to rescind the negative reporting, refusing to reopen the account, and presumably has put the account out for collections. All of this with no communication to me. Up until XXXX I enjoyed FICO scores in the XXXX 's. Because of HSBC FICO is now XXXX. I have no problem to pay the balance immediately. Payments have been made XXXX, XXXX, XXXX, XXXX, and already XXXX has been paid. I demand the negative reporting be reversed. While it is technically true that payments were not made the explanation is true and valid. There is nothing written in the Promotional offer that states that the balance transfer amount will be calculated as part of the minimum payment due as with purchases.
Company Response:
State: DE
Zip: XXXXX
Submitted Via: Web
Date Sent: 2016-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-09-29
Issue: Using a debit or ATM card
Subissue:
Consumer Complaint: I was in XXXX My " debit '' card that I use for ATM purposes was compromised and I was defrauded of about {$2000.00} This international bank does not have a telephone or sms service to alert to a fraud, but they send out an email since it 's a debit card. With time difference and my travels for XXXX, I missed the email and was defrauded of about {$2000.00} The bank maintains that since it 's a debit card, I am responsible for the loss even though I explained to them that fraud occurred before its alert email. and once, I had called them in response to the alert, no further fraud took place. For a credit card abuse and theft, there is a complete protection. Why do n't banks offer similar protection for the debit cards when they issue them in the first place
Company Response:
State: TX
Zip: 77006
Submitted Via: Web
Date Sent: 2016-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-09-29
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: I opened a checking account with HSBC about 2 weeks ago and I changed my direct deposit to the new account. Yesterday ( XXXX/XXXX/2016 ), I found out by logging to my account online that my checking was slated to be closed without any knowledge from my end. I contacted the bank and they are unable to explain to me why my checking account was closed without any notification. My paycheck is supposed to be deposited to the account today ( XXXX/XXXX/2016 ) and I ca n't access it because the bank closed my account without grounds. I demanded the bank to reopen my account and an explanation but they ca n't tell me why it happened. Now I ca n't access my money for another 2 weeks until payroll fixes my direct deposit to a different bank and I will be behind on my credit card payments. I have attached a copy of my paystub which shows the banks routing number and the pay date.
Company Response:
State: NY
Zip: 11354
Submitted Via: Web
Date Sent: 2016-09-29
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: No
Date Received: 2016-09-28
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: HSBC failure to forestall the foreclosure sale while a modification application pending with servicer.
Company Response:
State: NY
Zip: 11520
Submitted Via: Web
Date Sent: 2016-09-28
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: No
Date Received: 2016-09-27
Issue: Balance transfer
Subissue:
Consumer Complaint: I requested HSBC XXXX bank to transfer a balance to my other credit card at XXXX, to pay my outstanding balance there. This was in XXXX, HSBC did sent a check to XXXX, on XXXX/XXXX/2016, with the wrong account and without my name. The check was never cashed by XXXX ( By HSBC own admission ) but yet that amount has been added to my HSBC balance since XXXX/XXXX/2016, together with a hefty transfer fee, though I never benefited from that transfer. I have call XXXX banks and specially HSBC a number of times, did n't get anywhere until I twitter about it and though then I was put in touch with a CSR, they then told me on that call that they will fix it, just to call me the next day saying they are refusing to take the amount of the transfer off my account though their check was never cashed!!!! So now I am carrying the same balance at the XXXX bank!!!!! This is NOT XXXX fault.
Company Response:
State: MA
Zip: 01852
Submitted Via: Web
Date Sent: 2016-09-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No