Consumer complaint received 2015-09-29
Company: FIRST CITIZENS BANCSHARES, INC.
State: FL
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
In XXXX XXXX I purchased a commercial property and XXXX was the lender on the promissory note in which the commercial property was used for collateral. I made my payments faithfully and was never late. On XXXX XXXX, XXXX I got an on demand letter from First Citizens Bank, from a XXXX XXXX who was a Senior Vice President of First Citizens Bank out of the North Carolina office, prior to receipt of this letter all my business was done with the local banker in XXXX XXXX, FL. On receipt of this letter I immediately called my banker, he indicated to be that he no longer could help me " because the big guys upstairs took this over and wanted this note to end ''. I tried to deal with the above mentioned party to no avail. I was told that the full note was due and that if I could not pay, then I needed to consider selling the property. First Citizens Bank bought out XXXX in XXXX. I was doing fine with that bank until XXXX. After I received the letter and it was clear that I was not going to get any help or relief from the on demand payment call, I reluctantly entered into a short sale contract in XXXX of XXXX. At this point I had paid into this property timely, timely, for 13 years!! In XXXX of XXXX the same XXXX XXXX from First Citizens Bank accepted an offer to sell the property for a proposed price of {$340000.00} leaving me approx. {$240000.00} short of paying off the note. The property then sold. At this point I was still current on all payment through XXXX of XXXX. I do not understand why I had to sell the property for which I had never been late paying on. I pride myself on my family values of paying what is owed on time always. So now the property is gone and on XXXX XXXX, XXXX a year after the property was gone I received a Summons and a Complaint was filed in the XXXX XXXX XXXX XXXX XXXX XXXX XXXX in and for XXXX XXXX, Florida. The Plaintiff First Citizens Bank and Trust Co, as survivor by merger with XXXX, f/k/a XXXX, filed suit against me, the Defendant in an action for damages in the amount of {$240000.00}. At that point I was like " What!! '' the property is gone by duress, I feel that they forced my hand in selling the property, and now over a year later I am getting sued? I did not know what to do, so an answer with affirmative defenses and counterclaim was filed with the same court stated above. What good does it do to answer back, the property is wrongfully gone, they want $ XXXX they will not negotiate and they will issue a XXXX and I will be hit by income taxes that I will not be able to pay. Now it should be noted that the property that was pried from my hands unlawfully, ( it is proven that they did not even own the note, as the note was improperly executed in the merger ) is able to be sold for XXXX - in less than 2 years, if the above mentioned bank would have allowed me to continue to pay ( as I did faithfully for 13 years ), I would of still have the property and their interest would of continued to have been protected as it had been for 13 years, now they want a default judgement on me. How can this be legal, it is certainly not fair, nor just.

Company response to consumer: Closed with explanation