I'm writing to call out Fifth Third Bank and their mortgage department. When I first called first week of December '05 they gave me the terms of a vacant lot loan. After several mistakes by them, I decided to change loan originators.
She said, "no problem. I didn't know what the other guy was thinking was so hard." After 3 weeks of waiting, they finally approved us for the loan. (only after I started calling her boss to get answers). She said we were approved but we had to get our debt to income ratio down. Well, we were never told that was an issue to begin with.
So we paid down our car. $12,000.00 later they changed the terms on us, again. They said they couldn't give us 100% financing because they had already made too many exceptions. Never telling us in the beginning we were in need of exceptions.
So after they dropped the ball yet another time, we said "forget it. We don't want to do business with you anymore. Forget the lot, forget you. Deals off".
The seller didn't understand the situation and wouldn't give us our earnest money back until she found out what happened. Well, the bank wouldn't help explain it to her. They wouldn't give me a denial letter because they said I was approved. I said I never agreed to the terms so how could I be approved.
They refuse to give me any type of letter saying they were at fault explaining the loan in it's entirety. The loan originator agrees we never agreed on the terms. She said it herself. So why are they being so difficult?
So the loan originator couldn't help anymore. I started calling her boss. No return call. Several weeks go by. Still calling him, still no return phone call. Finally, I start really harassing him and started calling every 15 minutes. He finally called me back and apologized saying the denial letter would be in the mail.
Denial letter came in the mail stating "unacceptable property" as the reason. Saying the lot was unacceptable because of the delapitated house on the property. Even though they approved it. The seller didn't like that. Saying it was incorrect. Which it really was.
The manager wouldn't return phone calls again. So I started calling his boss. This guy was even worse. A month and a half later I'm still waiting to take care of this! He finally called and faxed over a new denial letter stating "excessive obligations in relation to income" which we agreed on. But he wouldn't sign it, nor put the correct date on it. Now, he won't answer calls again.
What is with these people? I was so nice the whole time with them. So they walked all over me thinking I'd just give up. Well, I can't. I want my earnest money back. The bank is the one that dropped the ball, and they admit it, but not on paper. What gives??
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