Fifth Third Mortgage
Ripoff! Unfair interest rates and escrow practices

Fifth Third Mortgage upped my interest rate by two full points at the closing of my house. This put me at 9.25% at a time when 6% was more common. I was told to go ahead and sign the papers and they would let me refinance at no cost over the next 24 months. Of course, since I got nothing from 5/3 in writing, they deny this and have never attempted to reconcile my interest rate issue.

The escrow account attached to my mortgage is horrendously out of whack due to the manner in which 5/3 calculates "estimated taxes" for the coming year, so my house payments have gone up $200 a month from where they started 2 years ago.

I can no longer afford the payments comfortably, and have asked the bank for help, to no avail. They have actually told me that if I want out from under this monster of a mortgage loan, I should sell my home. This is ridiculous in my opinion, and I wanted to make sure everyone I can reach is aware of the hazards of working with Fifth Third.

Company: Fifth Third Mortgage
Country: USA
State: Michigan
City: Kalamazoo
Site: www.53.com

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