Consumer complaint received 2019-05-06
Company: U.S. BANCORP
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I have called US BANK over 24 times to try and get my Balloon note modified. I have never missed a payment on this house and bought it before I was married on a balloon Note that was modified 5 years ago onto another Balloon Note by US BANK although at that time Ballon notes were illegal both under federal and State law. 

I was told at that time not worry about it and that it could be modified 5 years later if necessary. US Bank is the owner of the loan so they didn't need anyone 's permission. This RESET my amortization so over the past 5 years hardly any of my payments have gone to principal. So after 10 years of being on Ballon notes I owe as much on the house as I when I bought it. The house is Severely underwater ( was bought during the great recession ) and thus we can't refinance. We had saved up enough money to pay down our balance and refinance, but our house was ravaged by 2 hurricanes in 2 years and we lost one of our businesses. We had to take out a FEMA loan to survive and now have steady income again. We were forced out of homes 2x in 12 in forced evacuations. I provided evidence of this all to the USBANK. They just don't care. It is heartbreaking. If we don't get this modified by the end of this month the mortgage will be called due and we have no money to pay it. Every time we contact USBANK we have received different answers as to w
hat is going on. We were even told that we applied for financial help only to find out by a supervisor that it was misleading and they were just looking at our financial situation. PLEASE HELP US. Our lives have been destroyed by the hurricanes and not something we were ever dreaming would hit us just months after we moved into our home. We lost my aunt as the result of one of the storms so we are lucky our lives were never in jeopardy. I am pleading for help.

USBANK is refusing to accept our documents as submitted and continue to harass us for things that are clearly not needed, but are used to say we never got them everything to make a decision. Despite repeated requests to have them call us or Email us they simply send letters that often contractict what is told to us on the phone. I Have been told to ignore them on several occasions. I have never received a call back from single point of contact despite over 10 VM 's left. The latest injustice is they are requesting a new lease agreement despite having an addendum on the existing one extending it when the original lease expired. They are saying my  addendum ( written by an attorney ) is not good enough. They now say that document since it doesn't have an END date is not valid. I was told an assistant not an underwriter made this determination and even speaking to a supervisor was told she didn't agree with the decision. So now USBANK representatives are acting as real estate lawyers and not even the underwriters. I should have NEVER been put on another balloon note when the last one expired and can't believe despite showing an unexpected hardship due to one in a  generation storm.

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