Consumer complaint received 2024-01-29
Company: U.S. BANCORP
State: DC
Product: Mortgage
Sub-product: FHA mortgage
Issue: Struggling to pay mortgage
Sub-issue: An existing modification, forbearance plan, short sale, or other loss mitigation relief

Complaint:
My complaint is about the deception in the wording, " covid relief '' when I had been making payments late I was offer the opportunity to take advantage of the program, at the time I was struggling, along with the entire world to make payments on basic necessities, it seemed as a revelation from God, so I didn't questioned it, as many others I was thankful, at the time I owed the bank XXXX more or less, and j thought that things were actually going to look up for me, well this year I decided to part ways with the house, since the struggling times had comeback as I was trying XXXX fix the house to sell it, I was ready to part ways in an as-is condition, willing to walk away with only the money I had invested on repairs, but it turned out that the XXXX page contract that the bank sent me had intricate wording behind its title of " relief '' giving the fact that now my balance of XXXX had increased to XXXX taking away the little bit I was planning to walk away to try to build a fresh start for me and my XXXX XXXX XXXXXXXX XXXX, after all I have been paying all my mortgage payments on time since I bought the house, can I walk away with something or is that not allowed? The bank will not loose, never has, now that my house is under contract and about to be sold, the bank will be paid in full, but my question is, why do me and my daughter have to start from minus zero? Is there any justice when the equilibrium of things are set? If a pandemic starts are the little taxpayers supposed to be the only ones to suffer while the big entities like the banks thrive on? Or can we make it an even struggle? And let the bank actually provide said " relief '' since they already ripped the benefits of years and years of high interests rates and principals? I am not here to complain about my high interest 30 year mortgage, I agreed to it and was gladly making those payments, my complaint here is that we entered a global pandemic and a disaster package wrapped in the word " relief '' was offered to us, just to find out later on that there was no relief in it but sorrow, are we to let big entities thrive in the pain of the people without batting an eye or doing anything about it? The XXXX I could have walked away with it is nothing to a big entity that rips benefits of 30 year long loans, but to me and my baby was the one and only option we had between looking for shelter or being able to afford one. 

If this is what " COVID relief '' from a company supported and backed by the government does when a worldwide pandemic hits, which is, to use the name of said pandemic to take from the impacted without remorse and become fatter thereof, then I must say, worldwide pandemics make for good business. I must remark, that I was not looking for " loan modification '' or " forbearance '' plans, I took the " COVID19 relief '' bait, and I sure fell for it, as I was laying on the ground they made sure to take it all

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation