To: President Donald Trump, The Delaware State House, The Delaware State Senate, Governor John Carney, The United States House of Representatives, and The United States Senate
Hold HSBC Accountable
Please sign this petition to have HSBC held accountable for the inflated rates, fees, and prepayment penalties they charged for mortgages during the heyday of subprime lending. Oftentimes minorities didn't know they could actually qualify at their local bank, and sought subprime lenders like HSBC who took full advantage of their situation by charging exorbitant prepayment penalties, fees, and interest rates.
Why is this important?
HSBC was one of the worst subprime lenders during the heyday of subprime lending. As a real estate agent during that time (I quit the business and am teaching English abroad now), I saw too many times how they raped the poor and elderly with their high fees, prepayment penalties and exorbitant interest rates.
One story, but I have hundreds. One man who lived in one of the poorest neighborhoods in New Castle, DE, Rosegate, had gotten refinanced with HSBC. He had a huge prepayment penalty that I couldn't get him out of; his interest rate was 9.25% when interest rates were about 6%. In fact, when I sold him a home, he qualified at Wilmington Trust for 6%, the going rate at the time, just about a year after he had gotten the refinance with HSBC! Robbery, and nothing less. Of course, he was a minority, whom HSBC preys on.
They want me to keep this short, but I have more stories. HSBC wasn't the only one, but they were definitely one of the worst.
Please sign this petition to hold them accountable.
One story, but I have hundreds. One man who lived in one of the poorest neighborhoods in New Castle, DE, Rosegate, had gotten refinanced with HSBC. He had a huge prepayment penalty that I couldn't get him out of; his interest rate was 9.25% when interest rates were about 6%. In fact, when I sold him a home, he qualified at Wilmington Trust for 6%, the going rate at the time, just about a year after he had gotten the refinance with HSBC! Robbery, and nothing less. Of course, he was a minority, whom HSBC preys on.
They want me to keep this short, but I have more stories. HSBC wasn't the only one, but they were definitely one of the worst.
Please sign this petition to hold them accountable.