Consumer complaint received 2018-01-05
Company: CAPITAL ONE FINANCIAL CORPORATION
State: LA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I RECEIVED A PACKAGE FROM CAPITAL ONE ON XXXX XXXX XXXX FOR BORROWER ASSISTANCE LOAN.  I HAVE A HELOC LOAN THAT WOULD MATURE XX/XX/XXXX, SO I APPLIED FOR BORROWER ASSISTANCE BECAUSE MY HUSBAND HAS BEEN XXXX SINCE XXXX WITH XXXX XXXX  AND THINGS HAVE CHANGED.  ON XXXX XXXXXXXX I RECEIVED NOTIFICATION FROM CAPITAL ONE THAT THEY HAVE RECEIVED MY APPLICATION AND WOULD BE CALLING FOR FURTHER DOCUMENTATION.  ON XXXX XXXX ALL DOCUMENTATION REQUESTED WAS FORWARDED OVER TO CAPITAL ONE. WOULD CALL CAPITAL ONE WEEKLY FOR UPDATES TO SEE IF ANY OTHER DOCUMENTATION WAS NEEDED.  EVERYTIME I CALLED THEY WOULD SAY IT IS IN THE PROCESS. WHEN XXXX XXXX CAME AROUND AND RELIZED I COULD NOT PAY ON MY HELOC LOAN ANYMORE I CALLED THEM ASKING TO PAY AND THEY SAID I COULD NOT I WOULD HAVE TO PAY THE XXXXXXXX OUT IF ANYTHING.  THEY KEPT TELLING ME DON'T WORRY YOUR LOAN IS IN REVIEW.  I WAS VERY NERVOUSE AND CALLED DAILY AND WOULD GET THE SAME RESPONCE FROM THEM.  IN THE BEGINNING OF XXXX CAPITAL ONE ANNOUNCES THEY WILL NO LONGER BE IN THE MORTGAGE/HOME LOAN BUSINESS AND WILL NOT ACCEPT ANY NEW APPLICATIONS.  NUMEROUS EMPLOYEES IN XXXX TEXAS WILL BE LAID OFF.  I CALLED AND ASKED ABOUT THIS WHEN I HEARD THIS NEWS.  AGAIN I WAS TOLD I APPLIED BEFORE THIS ANNOUNCEMENT EVERYTHING SO I WAS OKAY.  I STILL DID NOT KNOW IF I WAS APPROVED.  CALLED EVERYDAY IN XXXX/XXXX.  FINALLY ON XXXX XXXX I RECEIVED A CALL FROM A GENTLEMEN FROM CAPITAL ONE STATING HE KNEW HOW UPSET AND NERVOUS I WAS SO I COULD CALM DOWN HE GOT PERMISSION TO CALL ME AND TELL ME I WAS APPROVED FOR THE MODIFICATION.  WHAT A RELIEF I THOUGHT AFTER 4 GRUELING MONTHS OF SENDING SAME PAPERWORK NUMEROUS TIMES/CALLING/REQUESTING CALL BACKS WITH NO PREVAIL.  ON XXXX XXXX I RECEIVED MY LOAN ASSISTANCE EVALUATION.  TO MY SURPRISE MY CHOICES WERE SHORT SALE/ OR 20 YEAR FIXED RATE LOAN AT 4.920% MONTHLY PRINCIPAL AND INTEREST XXXX PLUS ESCROW XXXX TOTAL MONTHLY PAYMENT XXXX FOR 240 MONTHS PAYMENT BEGINNING ON XX/XX/XXXX.  PAPERS NEED TO BE NOTORIZED AND SENT BACK BY XX/XX/XXXX.  THE FIRST SET OF PAPERS I RECEIVED HAD XXXX AND WRONG DATES SO I CALLED THEY RESENT THE PAPERS WITHOUT AN EXTENSION ON DEADLINE OF GETTING THEM NOTORIZED AND MY DECESION.  I HAD NO CHOICE IT HAS BEEN 5 MONTHS KNOW WITH NO PAYMENT ON MY HELOC LOAN.  THEY HAVE DOCUMENTED REASON FOR DECLINE OF ANY OTHER ASSISTANCE/EXTENSION TRIAL PROGRAM WAS BECAUSE OF MY INELIGIBLE LOAN TYPE (HELOC).  THEY COULD NOT TELL ME THAT BACK IN XXXX WHEN THEY RECEIVED MY APPLICATION.  MY LOAN NEVER CHANGED IT WAS ALWAYS A HELOC LOAN.  AS YOU CAN IMAGINE I WAS VERY SICKENING AND DISAPPOINTED SO I REACHED OUT TO CAPITAL ONE NUMEROUS TIMES STATING MY CONCERN AGAIN WITH NO PREVAIL.  FINALLY, I CALLED AND SPOKE WITH A REPRESENTATIVE WHO TOLD ME WHAT HAPPEN WAS WHEN CAPITAL ONE CHOSE NOT TO OFFER HOME LOANS/MORTGAGES ETC.  IN BEGINNING OF XXXX THEY THEN CHANGED STIPULATIONS/RULES ETC.  AND THAT IS WHAT HAPPEN.  THAT IS THE ONLY THING OFFERED.  NO ONE TOLD ME CONTACTED ME OR TO GIVE ME A CHANCE MAYBE TO LOOK FOR BETTER OPTIONS IN MY SITUATION.  I REALLY BELIEVE THEY HELD UP EVERYTHING SO I WOULD BE STUCK AND HAVE NO CHOICE.  I AM NOT THE ONLY VICTIM THERE IS MANY.  I LOOKED ON THE INTERNET AND IT IS OVERFLOWING WITH COMPLAINTS ABOUT CAPITAL ONE/HOME LOANS MORTGAGE DEPARTMENT DURING THIS TIME.  HOW CAN THIS BE LEGAL I AM NOT SURE.  I SIGNED DOCUMENTS/NOTORIZED FOR THE XXXX A MONTH STARTING XXXX XXXX, XXXX.  HAVING NO CHOICE.  HOW DOES THIS HELP FINANCIALLY I HAVE NO CLUE.

Company response to consumer: Closed with explanation