Consumer complaint received 2017-12-27
Company: M&T BANK CORPORATION
State: MD
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Struggling to pay mortgage

Complaint:
I would like to request a Streamline Repayment for my property located at XXXX XXXX XXXX XXXX XXXX MD XXXX Recently, I was offered a repayment but it was not feasible as a single mom of XXXX  children. I quickly contacted my Asset Manager XXXX XXXX who stated my home was referred for foreclosure the 2nd week in XX/XX/XXXXwhile I was being considered for alternative foreclosure options. Here is my question if I am being considered for alternative foreclosure options why was my home referred for foreclosure by XXXX XXXX XXXX? Have I exhausted all of my options due to unfortunate life circumstances? I am praying for a miracle for me and my children and need all the help we can get. We are working with a Credit Counselor through XXXX XXXX and they have been very resourceful. I am literally having anxiety and can not sleep at night worried if the Sheriff will be knocking on my home to put my children and I out on the street.

I was required to go on two Medical Leaves of Absence - due to complications related to XXXX XXXX XXXX and the XXXX of my daughter in XXXX who was hospitalized in the XXXX XXXX at XXXX XXXX XXXX Hospital XXXX MD awaiting a XXXX XXXX. OnXX/XX/XXXX my divorce was finalized which is public record reference - XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. My household income was cut in half and I had to an insurmountable amount of legal fees associated with my divorce and custody of my minor children.

I have being working diligently in alleviating my monthly financial obligations : I was granted an Economic Loan Deferment for my Student Loans, XXXX I was able to get free clothing for my children, XXXX XXXX  food and prescription assistance.

While I have been the only wage earner I have submitted applications to alleviate our monthly financial obligations : I was granted an Economic Loan Deferment for my Student Loans, and I have not acquired any new revolving debt in over 8 years. I am back to work full-time and would like to propose a reduction in my interest rate to 3.85 % thereby reducing my mortgage. Please consider lengthening my loan term to 32 years so I can pay back the arrearages now that I am back to working fulltime. If thats not an option please consider reducing my principal to current home market values using my current loan rate. I need my home for the stability my children and elderly parents a foreclosure would not be beneficial to my community, particularly now that I am able to pay and have resumed working full-time.

I, XXXX XXXX XXXX have determined the estimated current property value to be XXXX based on the average values received from : 1. XXXX Lists estimated home values based on recent sales available through public records with the County Clerks Office .

2.XXXX Lists current properties for sale in community and recent sales activity. User is able to search and compare like kind properties.

Any assistance you can provide would be greatly appreciated.

Sincerely, XXXX XXXX XXXX XXXX

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