BB&T / unauthorized transfer and major loan problems
The bank uses "cross collateralization" for their loans. If you default on one loan or one comes due and they foreclose,
they will take all the collateral you have put up on any other loans. They used the property description for the
original real estate we bought as collateral rather than what we actually owned. They ended up with liens
against our neighbors' properties! Our attorney discovered all this when she looked at our paperwork.
When we met with them, they gave us a worksheet which was the basis from which they were advising us. Our
attorney told us even that was incorrect. She has been able to get it straightened out but it has been a nightmare dealing with them.
Literally, a nightmare. ( I had a heart attack in the middle of all this. I am sure it was from all the stress
as they threatened to take our home even though we had not defaulted on any loans.)
In a separate incident, they took money out of 1 account to put in an overdrawn account we shared with someone else.
That transaction was unauthorized.
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