BB&T Bank
Hidden balloon payment on a $35,000.00 ten-year home loan

When One Valley Bank switched to BB&T, I began to have constant problems with overdrafts and deposits going in late. The fees were very excessive, and they did not want to hear that the problem was the bank and not me. My husband and I watched the checking account closely and did not use it for quite some time (we opened a new account at another bank). Suddenly the account balance started to drop quickly. An account which had no service charges and no balance requirements suddenly had them, and the bank was stealing my money a little at a time.

When I called them, they were rude and had a "too bad" attitude. I went to the bank at lunch time and closed the account immediately. I did ask the woman if other problems were occurring, and she replied that they were losing accounts fast since the "change" (switch to BB&T) but that there was nothing she could do.

I continued to keep my mortgage loan with them to avoid the hassles of switching it, but if I knew then what I know now, I would have switched. Last Friday, I called the bank to inquire about my mortgage payoff. After numerous conversations and a call to the 1-800 line, I began to worry. The employees (x3) denied that I had a mortgage loan with them and stated that all of my accounts were paid in full. I finally called another branch and demanded answers. They were able to confirm my status with no problem. But that didn't solve the problem.

When I bought my home, I borrowed only $35,000.00. The bank knew me, and I had dealt with Jerri Goff in the past. I requested that a loan for the above amount be figured on a ten-year loan. I left the rest up to the bank, and they later called me at work and advised that they had everything ready for me to sign. Jerri advised me of my payment amount, which was fine, and I agreed to see her on my lunch time to sign the paperwork.

Well, long story short, and not being familiar with banking practice, I assumed that I would make the payments and the loan would be paid off in ten years. No way. Today I was advised that I signed for a "balloon payment" at the end of my loan!

After paying mortgage payments for six years, I was advised that I still owe $30,600 dollars. I remember now Jerri telling me that I got the best interest rate and the payments were going to fit what I was interested in paying (not her exact words, but basically what she said). Well, now that bank has soaked me for over $21000 and has only credited my loan less than $5000.00.

I would love to find out if this has happened to others and if this is common practice. Also, has anyone else had similar problems with the "small print" that they don't tell you about? In a nutshell, at the end of my loan (10 years) I will still owe over $24,000.00 dollars on a $35,000.00 loan. You can bet that I am changing banks immediately, and I will tell everyone I know, today and in the future, not to believe these crooks.

Everyone should learn from this:
A) Don't bank with BB&T, they are the KING of ripoff.
B) Don't use your lunch time to hurry and sign things. Take the time to read the small print. It cost me over $15,000.00 already.

Company: BB&T Bank
Country: USA
State: West Virginia
City: Wheeling
Address: Main Street
Phone: 3042321234

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