Consumer complaint received 2021-04-13
Company: TD BANK US HOLDING COMPANY
State: NJ
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
I filed 2 Complaints which have not been resolved : 1st Complaint - XXXX 2nd Complaint - XXXX Continued from past 2 complaints : The issue at hand is the difference between calculations and cause of the timely periods of which a lot of costs were added in. The loan matured and collection efforts started but the collection department, loan department, loss mitigation department couldnt figure out why I was in collections. There is penalties, interest and expenses in their figures that could have been avoided if they could have figured it out at conception of this debacle ( As I call it ). Payments never stopped even to this month with random placement of those payments ; as quoted to my by TD 's work out department " We can place it anyway we want ''. The interest added on is at a rate 2 times what the last rate was prior to loan maturity. Again, my inquires with TD kept getting shuffled around, attempted phone calls to the XXXX XXXX XXXX who serviced the loan were taken with promises of call backs only to find out he left the bank a year earlier. Only when I filed the initial complaint did TD finally figure out what was going on which also took 3-4 months. The situation is currently not resolved. TD has filed their 2nd attempt at foreclosure which will be contested again and hopefully thrown out. TD apparently filed for Judgment based on their proposed amount which we will now be filing to have removed. Since that judgment which was the cause of a withdrawl and freeze on my account last year ( Which is what spurred the initial complaint ), TD admitted do to the communication lacking within the departments and difficulty figuring out where the deficiency was, they lifted the freeze and returned the money to the account as part of their resolution from the 1st CFPB complaint. 
THE COMPANY DID WHAT THEY SAID THEY WOULD DO WITH MY COMPLAINT No ADDITIONAL COMMENTS TD promised to CFPB was to work out the issue. TD proposed a settlement with increased interest, penalties, added legal fees and other erroneous fees. I had offered to add another congruent property to the portfolio ( 100 % Owned ) which was owned by another entity if the rewrite could be placed in that entity name with me signing personally. Additionally I did not ask for any additional cash back, just pure equity as a collateral giving them a 25 % LTV position. Part of TD 's proposed resolution was that the property had to be added in as collateral anyway and they would not change the name or they would refuse to rewrite. A strong arm tactic not acceptable to me. Needless to say there are many faults. TD 's current stance is they have a monetary judgment which will be contested and is in question to be heard by the courts since it was placed during the time that TD even knew why collection efforts were being attempted. I completed an evaluation based on Principal Owed, Escrows paid by TD and Interest as it was prior to the lost maturity date. I offered a 30 day time for my refinance with protection for TD should delays occur due to Covid or other non-controlling by either side. Settlement offer is : Payment in XX/XX/2021 does not show on your spread sheet but has already shown cleared on my account, Terms : Satisfied Pay off total to TD Bank - {$370000.00} No additional Payment will be made from XX/XX/2021 from last cleared payment on my account. 30 days from agreement to procure financing to satisfy 1st and 2nd loans/liens on this property If finance is delayed due to appraisals, COVID or other beyond our control payments will commence immediately by the 1st of the month of XX/XX/2021 for {$4100.00} to be applied toward Interest only to TD Bank and Taxes will be paid by me for a maximum of no more than 60 days. If I can not procure finance for any reason within 60 days, the property will be immediately listed for sale based on appraised value while continuing to pay {$4100.00} in interest only payments and taxes, keeping the payoff at {$370000.00}.

Company response to consumer: Closed with explanation