Consumer complaint received 2020-05-12
Company: PNC Bank N.A.
State: NC
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Struggling to pay mortgage

Complaint:
Please be advised on XX/XX/XXXX XXXX XXXX declared a state of emergency on due to the COVID-19 Pandemic. On XX/XX/XXXX, he announced the closing for XXXX XXXX XXXX XXXX, and scheduled a reopening on XX/XX/XXXX. On XX/XX/XXXX the Governor extended my profession ( XXXX XXXX, License # XXXX NC ) closed down to XXXX, and on XX/XX/XXXX it was extended to XX/XX/XXXX. This Pandemic has also turned in to an Economic Crisis. 
XX/XX/XXXX I reached out to my Mortgage lender for a Loan Modification ( move 3 payments to the back of the loan ) due to the Governors Mandate to close my profession down and to avoid an economic crisis myself. I spoke to three different Representatives in Early Intervention department, each one offered me a forbearance for 3 months with interest accruing, and at the end of the 3 months, repay the 3 months, and in additional to the current month thats due. My response is that is not logic or feasible for me, because if I am not able to pay the three months as they are due, at the end of 3 months, paying four months is impossible, especially due to me not having the privilege to work due to COVID-19 and the Governors mandate for my profession to close down. I went on to say, that would be setting myself up for failure. Each representative stated that they would escalate me to Lost Mitigations where my request is possible after filling out the application for the 3 months mortgages to the end of the loan. This application was never offered and when I stated that I was switched over to the department for this purpose. I talked to 3 different Representatives in Lost Mitigations, the first person I did not get their name, the month of XXXX I spoke with XXXX ( ext XXXX ) and today with XXXX, she stated to me that she didnt know too much about mortgages, she was put there to help out due to the overwhelming need for assistance, therefore ; she was back and forth researching answers to my questions for other Reps., she finally stated that she would escalate my request to Lost Mitigations supervisor ( XXXX XXXX ). The prior two requested that I wait until the next month, because things are being put in place at the present that will allow them to honor my request, and this statement was repeated the following two months. I spoke with XXXX XXXX today as well, whom I was told could grant me my request, per XXXX, and sent me to her voice mail, and I left in information for a return call. XXXX seems to think that paying back three months of back payment accompanied with a fourth payment is a great offer, not considering Ive been out of work 2 months, my XXXX  is not guaranteed to open XX/XX/XXXX, and my XXXX  may not come back as business as usually, do to todays Crisiss on everyone and personal situation. She and I did agree that Im not eligible to get a lower interest rate, because Im at a 2 % now, so Im requesting what I know will be best for me, 3 months moved to the back of the loan vs. 4 months of mortgages to pay all at once with a no income coming in. 
I have depleted my savings trying my best to keep my responsibilities to my debtors current. I am in agreement with XXXX, XXXX XXXX, and XXXX XXXX for 3 months no payments as of XX/XX/XXXX, and after the three months pay the owed 3 months and the current months payment, or set up payment arrangements adding a mortgage to the equation will be overwhelming, stressful, and due to fail. 
I have never been late on my mortgage payments the 14 years of its existence, and the only time I have had a problem paying is the XXXX Recession, which I recovered from after a two year battle with XXXX seeking assistance ( Had to file a complaint ) and now the Pandemic and Economic Crisis. From that experience I am convinced PNC is executing in Unfair Mortgage Price to terms and conditions of my original loan, in a Pandemic and Economic crisis. If I am allowed to open back for business on XX/XX/XXXX, my XXXX  is promised to return right away due to people being out of work and some not having a job to go back to. Giving this Loan Modification of 3 months allows me to get grounded, allows me the opportunity to become stable in my finances and accountable and on time with my obligations to creditors. Otherwise, the chances of Foreclosure become more real, I dont want this, and I dont think the bank wants it either. 

Regards, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NC XXXX XXXX PNC Bank Loan # XXXX

Company response to consumer: Closed with explanation