Consumer complaint received 2016-07-11
Company: PNC Bank N.A.
State: WA
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I bought my home in XXXX 2006 through XXXX XXXX for {$590000.00}. I was XXXX at the time with an XXXX. I put no money down and I started with both a XXXX and a XXXX mortgage through XXXX. Shortly after the purchase XXXX sold off the XXXX. I moved my XXXX XXXX into the new home, but it required a lot of money and improvements before the home was able to be licensed by the state. We finally got settled in when the economy took a dive. I refinanced through XXXX to get better interest rates. I lost clients and income due to the increase in unemployment. My XXXX mortgage interest rate was getting ready to jump up with an increase in interest after 5 years. I tried to work with my lender whom was now PNC Mortgage, ( PNC took over XXXX ). I hired XXXX XXXX to help me get my mortgage modified. After several phone calls and a lengthy interview XXXX told me that he only took cases that he was confident qualified for the modification program. I was current with my mortgage until the point of trying to get a modification. If PNC would have offered me a viable modification option, even something close to what I had been paying would have been manageable if it would have been fixed. Unfortunately PNC completely refused. PNC kept telling me that my loan was through an investor, but they would not tell me who the investor was. PNC told me that my investor did not participate in the government programs. After a couple thousand dollars and many months of trying, XXXX finally called me and told me that he was unable to help me obtain a loan modification with PNC Mortgage. So I was on the search again for some assistance with this matter. 

I worked with XXXX XXXX, and XXXX diligently tried for several more months to negotiate with PNC. Then I hired an attorney from XXXX XXXX XXXX to help me with a mediation. I could not understand why PNC just kept dragging this out for months and then years. Then I realized when we finally made it to mediation, and PNC 's representative asked for a continuance because she was not prepared. I not only had to pay for my attorney I also had to pay for each Mediation and there ended up being XXXX Mediations all because the lender 's representative was not prepared and did not provide the necessary information to my attorney in accordance with the rules. At the XXXX mediation I finally learned whom the investor is and that they do participate in the government programs, but they believe that they do not have to offer what the programs provide for. I was told that I could not qualify for a modification any more because the debt had become so large with all the interest and fees after such a long period of time. AMAZING!!!! Now I see the big picture and why PNC drug this out for sooo sooo long unnecessarily. I also finally was given the name of the investor, XXXX XXXX XXXX XXXX ll XXXX. Very interesting name, I would like to know if they were actually in business when I bought my home. 

Left with no other options I then tried to short-sale my home. I started this process over a year ago and last summer I had gotten a CASH OFFER for the current appraised value of {$490000.00}. But PNC kept making ridiculous excuses as to why they could not accept the short sale. There is another complaint on file regarding this portion of experience filed by XXXX XXXX proving that PNC was not acting in good faith. It should be blatantly obvious that PNC and their investor have not been acting in GOOD FAITH since the very beginning. 
After that complaint was filed PNC sent me an approval letter for the SHORT SALE, but they put all kinds of stipulations in it and DENIED ME RELOCATION ASSISTANCE even though I gualify.

Company response to consumer: Closed with explanation