HSBC Complaint - 27% Interest Rate
SEATTLE, WASHINGTON -- Our government bails out companies that unfairly tax those who can least afford it. After selling my home in a short sale, HSBC, WAMU (now CHASE) go ahead and increase my rate as I am now a bigger "risk". So when did a loan become more like insurance where they raise and lower rates based on events? Since the taxpayers are bailing out the banks, and then the banks are raising rates on those who have difficulty, how can this possibly help the real estate market or the economy. Not only are they not extending credit as a result of the bailout, they are TAXING those who can afford it the least and now even those who can afford it as well.
SOMETHING BIG should happen to put these bankers in JAIL and regulate their unfair practices, this is ridiculous plain and simple and the middle class needs to rise up and stop corporate bullying of consumers NOW.