Consumer complaint received 2023-10-24
Company: M&T BANK CORPORATION
State: VA
Product: Mortgage
Sub-product: VA mortgage
Issue: Struggling to pay mortgage
Sub-issue: Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure

Complaint:
I was negatively impacted financially during XXXX and was unable to keep up with payments on my XXXX XXXX XXXXXXXX M & T Bank. I explained the situation to them and they were able to put me into the government forbearance program to help me through this. I was working as a realtor at that time and most of my income derived from property management fees. Due to XXXX many tenants were able to apply to defer their rent payments which meant that I did not get paid. I am filing this complaint because the bank is refusing to work with me or help me since my forbearance ended. I have been unable to get any type of help to deal with the deferred payments from the forbearance and M & T has taken action to put me into foreclosure. I then filed bankruptcy to protect my home and my family and begin repaying the past due payments. However, the bankruptcy is being dismissed and I need them to work with me and I believe there are VA programs available to help me fix this, but their agents are denying access to these options. 

I have lived in my home with my wife and adult son since XXXX and purchased in XXXX. I served on a submarine in the XXXX for 4 years and have been classified as partially XXXX due to conditions related to my service. I never had an issue making the mortgage payment until XXXX hit our state in spring XXXX. As explained I was a realtor at the time and most of my business came through property management but shortly after XXXX started many tenants could not pay rent and they were granted government protection to stay in their home and not pay rent which was great for them, but destroying my business. In XXXX I contacted M & T and was put on a forbearance plan XXXX months. Before the plan expired their agents told me to apply for a loan modification to address the past due payments. I got approved and my payment went up a XXXX XXXX dollars and they gave me a first payment date in two weeks. I had just started a new job and due to Covid hardship I had absolutely NO resources and did not have the $ $ for the first payment on the due date. I called in to speak with M & T agents to request making the first payment 5 days late, because I had no way of getting that type of money together until I got my first check. I was told that the underwriter would consider this revised due date, but never heard back from anyone and when I called in to make the first payment 5 days late I was told that the modification was no longer available and that the only XXXX M & T would accept was full reinstatement of all past due amounts. 

After being kicked out of first modification, I applied again and this time it was denied and I never found out why. I was approved XXXX XXXX earlier and my financial information was the same. It was fluke error that the payment on the first modification was not made on time and I informed them and asked for an extra 5 days. XXXX M & T Bank turned its back on me and since I could not get any assistance from them I filed XXXX XXXX bankruptcy. 

I have made bankruptcy payments of {$1500.00} from XXXX through XXXX of XXXX. This covers the mortgage loan payment and the arrearages. The mortgage statements that I have received from M & T do not appear to accurately reflect the money that has been paid through bankruptcy and I want to see an accounting ledger to document all funds collected by M & T and the application of these funds. 
Since the bankruptcy is dismissed I am fearful that they will quickly move forward and re-start the foreclosure process on my home. 
Since the last review for modification in XXXX there has been a change in financial circumstances. I now work in product shipping and receiving logistics and my income is steady. Additionally my adult son who lives with us works full time at a steel plant in fabrication and manufacturing. He is helping us out with the bills.

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