Totally Confused About Who Is My Lender

[Joel Fraser]

This is my first post on this forum. I have been reading threads for about a week before I registered. There seems to be some great info on this forum. That is great! I need all the info I can get. I read alot of homeowners have just walked away from their homes. That is sad! I am in a situation where I feel as if I have no choice but to stay and fight. I have had my home for 25 years. I built this house myself with help from friends. I got myself in situation where I had to refi. At first it worked out O.K. , but then I had to go in and refi again in a short time after that. Still it was O.K. Then I had to refi again the 3rd time in a year or a little more than a year. Anyway this time I got hooked up with one of those arm deals. My payments went from like $2000 a month to $3000 a month. Then within a year of that my business fell off because of fuel going up and all the talk about recession. So here I am have not made a payment in 5 months now. I tried to make a payment about 2 mos. ago and they refused to take it. I am with HSBC , they told me $5000 or no go! At one time they set a couple of payments back for me. Since they denied the last payment from me I really have not talked to them much. Yesterday I got a letter from Accredited Mortgage Co. Which by the way was my original lender. They sold our loan to HSBC. I guess HSBC sent info to Accredited and Accredited wants a response about the amount I owe them now. What do I do? Who do I really worry about? Which lender is in controll here? Does anyone know the answer to this question? Do I try and start a Modification? Thats what I was thinking about doing with HSBC before I received this letter. I also heard HSBC was very hard to deal with. Can some one guide me here? Thanks Donna C.:confused: