I went to BB&T with two sets of loan documents from competitors regarding the refinancing of my mortgage to a lower interest rate than the 9.75% I was paying at BBT. The BBT relationship banker said they could rework my rate without any closing costs, etc., for $250-300, and said she'd call me if she needed any more info. I told her the payoff I'd requested earlier was expiring and that the tellers wouldn't accept any more payments, but I had cash with me to pay 2 payments and interest to date, which is what I needed to go ahead with a new loan if I refinanced with Countrywide or Centex or SunTrust. She called another department and explained, but they said the amount would be larger with them and would be applied differently. I asked to get something in writing to be assured of the terms she'd given verbally.
When I went back the following week, she apologized and said collections had sent my loan into default, so she couldn't refinance for $250. I said I'd go on with Countrywide or SunTrust as I'd originally planned, and she said sorry, too late, your loan's in default and "no other bank will touch it now." A SunTrust mortgage loan officer said, naturally BBT doesn't want to lose you, you're a gold mine to them at 9.75% plus fees. And now the "gold mine" is filing a lawsuit against this mega-bucks corporation because this kind of deception is just wrong. BBT is in violation of HUD requirements, they do not comply with federal and state requirements, and they are guilty of predatory lending, fraud, misrepresentation, non-compliance, and negligence, just to name a few obvious ones.
My original loan was with a small-town bank that was swallowed up by BB&T. I sat at a desk facing a person who made my mortgage loan, in my own town. For the past six months I've been to 4 local BBT offices, and although their employees are friendly, no one can get anything done without going to some dead-end 1-800 number in Greenville, SC, or Wilson, NC, or Virginia Beach, VA.
So now my mortgage is headed to foreclosure, and guess what? I'm so sick of BBT, I just want to pay off my house, but I can't even give them the money because even their lawyers (300 miles away from me) can't get me a payoff figure.
So if Vice President John Harmon of BBT or a representative of Shapiro & Bursten would like to get back to me, I want to Western Union them several thousand dollars today, 10/21/05. Waiting impatiently for a reply.
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