TD Bankhome equity line of credit

Review updated:

I went to TD bank for a home equity line of credit on a home I own outright. There is no mortgage! I have very good credit. I got them over 19 documents immediately and then waited. Michael Doctor was the processor assigned to my case. I found that out only after going to a local branch because no one was getting back to me. Michael Doctor does not return phone calls. He even told me it was useless to speak to a supervisor and would not supply her name or contact info. Once I did find out who his supervisor was SHE DID NOT return calls. They continued to ask for the same documents over and over again with long waits in between -- Id call for an update since no one was contacting me and Michael would say - oh the underwriter said you need so and so. I'd supply it immediately and not hear back. I'd call and he wouldn't call back, I'd e mail and he wouldn't reply. I'd call Michele Kemp, his supervisor and she wouldn't return calls. This happened time and time again until this morning OVER 2 MONTHS into the process he called for another document I sent weeks ago - saying -the underwriter wont accept so-and-so. I told him I'd had enough and to withdraw my application. I am starting the process with someone else today. WHAT A WAIST OF TIME. Ignorance and incompetence at its worst! Mind you, I have no credit or income issues! Don't even get me started on the checking account they had me open to get a lower rate. Closed today as well. Also, always super long lines at the branch with only 2 of the 5 desks manned.

Dec 23, 2015
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  • Their HELOCK will ruin you. They constantly provide false and misleading information and will destroy your life! DONT DO IT!

    0 Votes
  • Td
      Apr 29, 2016

    I am having the same issue with them. I keep supplying information and it is never enough. I own a home outright but they are now asking for proof of insurance, property taxes etc on a house in another country. .. which I have not even closed on yet. I have excellent credit so I don't know what the issue is.

    I should have known better. Years ago I would receive faxes throughout the day with credit information about their clients and their mortgages. I kept calling for months to get them to stop. Not only was this a breach of security on their behalf but they did nothing about it for months. I even called their ombudsman .. their explanation was that an older internal phone directory was apparently still being used. Finally, after months of begging them to stop, i finally mailed out documents to client whose information was sent to me..telling them about TD and their document management .. it stopped after that. They are lucky I was an honest person.

    I am truly sorry I started working with them for my home equity loan but I only have one other option for cross border banking. I keep hearing how this is available for Canadians for their financing needs in the US .. it is painfully lacking. What really get s me pissed is that the Banks gave incredibly risky loans for years and then sold them off. We had to bail them out but oddly, why do they make us feel like we made them do it and now they have to protect themselves by making us jump through hoops. As...oles.

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