5th 3rd bank in Michigan
Charging exhorbatant amount of money on equity line to close short sale on house being sold

Our daughter and son-in-law owned a house in Brighton, Michigan which they have an equity line attached. The house would not sell so has gone into a short sale. Our daughter and husband have been married almost 28 years. Our daughter has always paid all bills on time and never had credit problems. They were moved by our son-in-law's company in Michigan to North Carolina. Because of the economy in Michigan the house did not sell. The bank now has a buyer on a short sale since last summer. 5th 3rd Bank holding the equity line are being totally unreasonalbe about their situation. They lost a good portion of their 401K when the market took a dip. They have no money left to work with. Have 2 children in college. Our daughter even kept paying on the equity line although the house went into short sale. Her credit was excellent. The latest thing 5th 3rd did in order to agree to let the house close was to demand $7,500 at closing and our daughter paying off the balance of the equity line over time.

Our daughter had to borrow the $7,500 from her inlaws to go to closing. Our son-in-law still has a job and makes a good income; but because of all their debt due to the economy to live from pay to pay and have no savings left. Now 5th 3rd has decided they want $25,000 to close rather than $7,500. Our daughter and son-in-law are devasted. They are very honest people. Have always paid all their bills on time and with all this mess with the house in Michigan, our daughter is definitely on the verge of a break down. Their names are Debbie and Gary *. There phone # is. They now live in Concord, NC and the house in Michigan with a waiting buyer, continues to just sit there because of this banks unreasonable demands. Our daughter's realtor in Michigan has told her she has never seen anything so unreasonalbe. If you can help our daughter and son-in-law, we sure would appreciate. She is at a loss and does not know where to turn. Believe me, she is very close to a breakdown over this. Please help, if you can. Thank you very much.

Company: 5th 3rd bank in Michigan
Country: USA
State: Michigan
City: Brighton

  <     >