Consumer complaint received 2017-10-27
Company: SUNTRUST BANKS, INC.
State: VA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage

Complaint:
I am writing about my mortgage on my property listed above. I bought my home in XX/XX/XXXX for  XXXX. In XX/XX/XXXX I refinanced my mortgage to get rid of PMI. I took out a 1st and 2nd mortgage to avoid private mortgage insurance. In XX/XX/XXXXI refinanced my Home Equity Line of credit that I had with Suntrust for {$50000.00} and consolidated all of my debt giving me a new loan for XXXX. When I refinanced my second mortgage it was with the condition Suntrust would close my home equity line of credit and release the lien on my property. Few months after refinancing I reached out to Suntrust about a business loan for my husband and I. Suntrust advised me I did n't need to get a new loan because I had an available line of credit for XXXX that I could use. Suntrust sent me checks and I used the money to start our business. At the end of the year I received three interest taxes forms. Called Suntrust to ask why I received 2 and they said because I had two liens on my house. I said ok and just kept paying my debt. In XX/XX/XXXX at XXXX years old my husband had XXXX XXXX XXXX and also found out he has a very bad XXXX XXXX. In XX/XX/XXXX I had to file a Chapter XXXX bankruptcy because my husband income decreased so much I could n't pay all of our debt on my salary. In XX/XX/XXXX I had to stop paying my 3rd mortgage because I could n't afford the payments anymore. In XX/XX/XXXX I had to convert my chapter XXXX bankruptcy over to a chapter XXXX because my husband was not able to work anymore. While I was going thru my chapter XXXX process I received a letter from Suntrust stating they were forgiving my {$50000.00} Home Equity Line of Credit which was my second mortgage. I called Suntrust and asked them why would they forgive my second lien for {$50000.00} but not my 3rd lien for XXXX. Really never got an answer. Since I have not made any payments on my 3rd mortgage which now is my second mortgage since XX/XX/XXXX we owe {$110000.00}. I paid on this loan for 8 years before defaulting. I tried to refinance for the Harp loan on my first but could n't because Suntrust will not subordinate my second. I called Suntrust and ask them about a modification they said no. I asked them for a small settlement they said no. I ca n't refinance and get cash out because I am still rebuilding my credit from the bankruptcy. My husband is not able to work anymore and has been granted XXXX. The problem I have with Suntrust is they allowed me to use a line of credit for {$50000.00} knowing the loan would put my home under water. Suntrust I feel should have forgiven the third lien for the amount of XXXX and leave the {$50000.00} in second position because I would possible be able to refinance one day and start buying my home again. Suntrust should n't had allowed me to use the line of credit for {$5000.00} that was supposed to be closed when I took out the loan for {$9500.00}. Do you have any advice. I feel Suntrust did not give fair lending. I called suntrust last year and asked for a settlement they said XXXX. I called earlier this year they said XXXX. I know I owed the debt but Suntrust lien has put me in a position that I ca n't do anything. I should have researched the line of credit they told me I could use but I was so excited to start our business I did n't do my research. Is there anything I can do to prove Suntrust did unfair lending? My home is only worth XXXX and I owe {$130000.00} on the first. I have lived in my home for 15 years and I feel Suntrust do right by us. If Suntrutst had closed the line of credit for {$5000.00} I would one day be able to refinance. Thank you!

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