BB&T / loan modification
I have been trying to work with BB&T for a loan modification since December, 2008. They had offered me a modification at $300-$400.00 over the mortgage payment in december 2008. I requested they revisit it, as I could not afford a higher payment. I waited 3 weeks and called them, the loss-mitigation department told me I had refused the modification, so they were putting the home in foreclosure. Well, needless to say, I have a copy of the letter requesting they look at the modofcation agreement and try to lower the payment, not raise it. They blatently lied right to my face when they said I refused the modification offer.
The threats went on for months...finally I got a gal named Tiffany Whitmire, she gleefully and proudly lied about the number of contacts I made to the bank and the content of numerous conversations I had, had with various employees regarding this modification. She finally relented and told me they would give the modification; we discussed interest, payments, escrows, etc...she said she would email me the contract. HA, HA, HA...I got a forbearance agreement instead. They wanted legal fees, a drive-by appraisal fee of $300.00, interest fees, etc...up front to the tune of $8, 100.00 and the contract stated "after I paid that amount, they would CONSIDER a modification". They refused to me give me an accounting of the fees, only to say a "registered letter" from the attorney was $1, 425.00...Can you imagine? The reason for the forbearance they said was "I didn't qualify" for a modification.
Folks, if I do not qualify for a modification, why did they send me one in December 2008 (when things were worse for me), at a higher payment and expect I could pay it. Also, how could I pay them $8, 100.00 up front if I could not afford a loan modification? They are liars, liars, liars. Until I lost my income, I was never late on a payment, I needed help because I got behind.
It is not bad enough they lie, cheat and misrepresent their actions, but many of the employees are " happily" aiding and enabling this behavior. The employee's parents of these people must be so proud to see what their children are doing with their hard-earned educations; learning how to cheat, steal, and break people!
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Good luck to you, i can feel how this really must turn your life upside down, those companies really forget they are dealing with "persons" and that there existing is only because customers choose to bank with them.
The way BB&T acts makes me think of that commercial where a litle girl gets to drive her bike in this litle space marked on the ground as soon as you cross this, the bank will rip you off.
Seems to me that they make this there main way of income instead of reasonable/fair banking where everything runs around delivering good/honest service to there customers.
I don't have any knowledge in this mather so i'm not able to advise you, the only thing i can do is wish you luck and hope you find a alternative to this ripoff bank, at least one thing youre doing right, that is sharing the criminal ways of this bank with the world and i hope your personal network, they feel like they can get away with everything, above the law, but times are changing, power to the people, they only are alive couse we choose to bank with them.
Hope it works out for you...
I would reapply for the modification. This time tell them you want a packet sent to you for the Obama Making Home Affordable program. Things are different now and may reduce your payments if you are having a hardship. Check these out
http://makinghomeaffordable.gov/
http://www.loansafe.org
I do have a loan modification request for BB&T, for FHA. Someone knows if they do MHAP for FHA loan at BB&T? please foward your answer to [protected]@RFSTODAY.COM
Yes, modification I thought was to help you.. They have done the same to me. It saddens me. I do not know where to turn. What they have done is basically set me up to fail again and put me back into foreclosure.
I too, am very disappointed w/ BB&T. I have been trying to negotiate w/ BB&T for 6 months and their answer to me is to short sale my house. I want to stay in my home, but like many people, the house is underwater. Unfortunately, it seems BB&T will not help the people who are trying to stay afloat! I don't know what to do. The bottom line, they only care about protecting their investors and not us.
Have you tried to apply for a Hamp modification. They can not foreclose while they are trying to approve you. They are also suppose to offer you a 1/2 price payments for up to 6 months.
We are having the same problem with our mortgage as those listed above. They say they do not have to and the private investor will not agree to modify our mortgage. We will undoubtedly be foreclosed on soon. They do set you up to fail. No need to elaborate.
Boy we are not behind but are at risk do to unemployment benefits dropping. I have been online reading and I am going to go with Hamp. This is just not right. This is one of the reasons why thing are the way they are right know. 11, 200 of use lost our jobs because of Walmart. all across the US in Feb.2010 In Sam's Clubs some of use there for years.They wanted more money in there pockets. So the h---------- with people having money to keep a roof over our family's heads. So think before you shop at Walmart or Sam's Clubs. Is it worth keeping the rich richer? They are the same as BB&T.Investor get richer and we become home less.Best of luck with all.
We are going through a very similar situation with BB&T. They offered us a modification of our existing loan payment. They wanted to modify it to a MUCH HIGHER payment than we were already making. How can we afford a HIGHER payment? They are currently set to sell our house in May. I cannot believe I am about to lose the dream home I built...
I am just beginning my journey with BB&T and my mortgage loan. I spoke with a lady last week asking her if they would consider deferring one payment and I was told that BB&T did NOT defer payments and my only recourse was Loss Mitigation and that I would have to pay back the missed payment causing my mortgage payment to increase approximately $100 per month. I explained that I am a single school teacher living month to month and cannot afford this increase. The rep was very rude and told me I could comply with Loss Midigation or face foreclosure.
If I am correct in what I have read, BB&T loans are not Fannie Mae or Freddy Mac so Obama's modification package does not apply to BB&T mortgage loans. Someone please correct me if I am wrong.
I went through the 2 year night mare they take your small problem and string you along telling you pay all plus legal fees and penaties or they will fore close wile they are prossesing you they are reporting bad creit they can only start foreclosure if you are over 90 days late what ever you do dont let this happen I was 45 days late I sent in 1 payment and two weeks later sent another payment they sent the money back because they wanted all the money plus fees by there dead line or nothing .Yes they lie every step of the way I was told that I could get Modified only after being turned down and hiriring a lawyer to re sumit my aplication the lawyer and bb&t said modifcation would be a 30 yr fixed at a lower intrest rate after 2 years the contract came by mail saying 40 yr at the same rate with a 100k ballon payment due at the end of 40 yrs Now for the real fun bb&t still reported no payment after I paid them the agreed amonut for 7 months untill the final contract is signed and you get your new book of payments they report no payment over 120 days to credit reports. Because of this nobody will refinance at cuuent rates because you have been modified and bad credit for 2 yrs and 2 more yrs before they will refinace This is only a little bit of my nightmare.
bb& t sucks, they dont try to help with modifications they do everything they can not to modify loans, is there any legal issues in not modifying loans for homeownerws that can be filed under a government program, i went to a hud counselor and she filed out my paperwork and contacted them steadily but i was denied even thought she said there was no way i should be denied if there is a government number to file a complaint or someone you write to about bb&t mortgage please let me know, this saddens me when you know that you are right and you cant get any help the president needs to know whats going on and why people are still losing their homes
I am going through the same thing with BB&T now. All I have encountered is one lie after another and one rude person after another. I have been dealing with them for 1yr now and nobody tells you the same thing. I don't see why it should be so hard for them to work with you when you are trying to do the right thing. Now I am looking at finding a new place to live for myself and 2 young daughters. I was married and had 2 incomes when I got the original loan, I am now divorced with spotty child support payments but I was told by loss mid that it is not their problem nor is it their problem that because I am a government employee now facing furlough and losing 20% of my pay. The person from loss mid now no longer wants to deal with me and left me a voice message that I should just use the 1-800 number and deal with someone there. What kind of customer service is that???
I FEEL YOUR PAIN, only owe 64, 000.00 on loan, scraped up 17, 000.00 to catch up behind amount! BB&T would not even work with me and I had a 3rd off my mortgage to catch up!!! Still trying to save my home? Paper work, something is never right on it; LMAO,
I went through a similar situation w BBT. My application remained lost for 7 months in the loss mitigation dept. i jokingly call it the lost application dept.. I finally got tired of hearing about it falling thru the cracks. And sent a letter to the bank ceo by fax. they then denied me fflat out so i asked them to review again. i am very overwhelmed w debt. i missed the date so don't qualify for hamp. At work two years of furloughs, and being a single mom w a child w disabilities and other economic issues caused me to try to sell to get out from debt. My condo didn't sell - I owe around what it's worth. In 11-2012, I sent the loss mit dept my app and it was lost for 7 months...I am now basically starting from scratch and w rates up I am very disconcerted that my app was lost so long. I pay 5 1/2 w no pmi and by missing date hamp does me no good. BBT is my only alternative and to have loss mit loose my app is really upsetting since I want to keep my home. They seem very disorganized.
Wow! After reading your comments I now feel that I am not alone. Over a 6 year period, my husband and I remodeled our kitchen and 2 bathrroms. We replaced all the flooring in the house as we wanted to place our home in the best possible position for sale. We kinew we wanted to move for that length of time but also knew that the market was bad for sales in our area. What we didn't anticipate is that our house was under water and that we were not able to sell the house for enough money to cover our mortgage. We had to move as we are both older, my husband 87 years old. We spoke with the bank telling them that we just couldn't live there anymore as the house was now too big for us to take care of. The response was that they would negotiate a lower monthly payment with us. We again explained that we could not take care of it any longer and did not have money to hire out. We hired an experienced realtor to handle short sale. Oh boy! Short sale is really an oxymoron. BB&T took forever before approving us and we probably went through a forest full of paper faxing and refaxing and refaxing this information and that information and then they needed this and that and something else. It never ends. We have had 4 buyers for the property and ALL lost interest because of the enormous wait. We are on our 5th buyer and believe that if BB&T drags this out again, we will be out of luck again. It has been over a year that we are still playing games with this bank. No one returns your calls, no updates and nobody cares!!! We moved out at the same time as our realtor told us we could but now we are still paying for electric, water, and lawn care on 2 houses! I'm so disappointed in BB&T and their lack of response and efficiency.
Well, i jus got my new payment book for our 2nd year. Payment went from $744 to $800!?!! Wtf?? Why has my payment went up $56??? Only thing I can figure is its cuz we were like 3 weeks late for a number of months after my fiancee had her hours cut at work. But we were never even a full 30 days late! I will be calling 1st thing in the morning! I really hope this doesn't turn n2 a nightmare! M & T Mortgage was bad enough years ago & I swore I'd never buy another house. But here I am again. I HATE mortgage companies! They look for any way possible to make things hard on a homeowner!!! I jus don't get it??
Some people need to realize that most banks DO NOT OWN the loans they service, most are owned by FHA, Freddie, Fannie, etc. Each loan is subjuct to INVESTOR guidelines, not the bank. You have to qualify for loan mod's & also most gov't programs, even ones that our dear President backs. So before some go around bad mouthing banks, take a look at your situation & do what YOU need to do. Contact your mortgage servicer, Hardest Hit Program in your state, don't just sit on your duff. The help is out there, IF THAT'S WHAT YOU WANT!!!
Two years ago I started applying for a modification myself then when it got denied I used two different free agencies. BB&T kept saying they never got my application, so I went back to doing it myself I"m now on my 9th or 10th application I've lost track. BB&T keeps denying me because I haven't resolved my hardship, isn't that why I need a modification? So a couple of days ago I got another denial letter and then 4 days later I got another modification application from them while all this time they are racking up late fees, appraisal fees and other fees and then sending demand letters that I pay the $20, 000.00. A lawyer I hired for $2600.00 got me approved for a modification but BB&T says they never got my paperwork back. My husband and I both lost our full time jobs through no fault of our own, my job closed down and his job moved to Mexico. I feel it should be illegal for BB&T to charge fees after I filed the first modification package and sent it to them, they should have just approved it gave me a new payment and we could have all moved on. I am going to find a lawyer and see if I can sue.
I want to complain about their unfair practices. IS there a law firm who will file a law suit against them?
@Ajay Munjal I'm with you on that. Traci Tharrington 919-621-6621