Consumer complaint received 2016-08-31
Company: U.S. BANCORP
State: OR
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan modification,collection,foreclosure

Complaint:
We feel that US Bank has been stringing us along for the past 2 years and all we are wanting is an answer to our request for mortgage assistance. It started in XXXX XXXX US Bank closed our checking/savings accounts due to an overdraft that was done by the Garnishment for XXXX XXXX. In XXXX XXXX, I had to close my XXXX XXXX due to the families moving out of state. In XXXX XXXX, my SSI income stopped coming in due to our son turning XXXX. In XXXX XXXX, we took in XXXX children due to XXXX and this caused our monthly living expenses to dramatically increase. We contacted US Bank for assistance with our 1st mortgage and submitted our paperwork in XXXX XXXX. Between XXXX and XXXX we had multiple document requests from US Bank and were advised that on XXXX/XXXX/XXXX US Bank had a complete application. However, in XXXX XXXX we received notice that our application had expired and that we needed to resubmit everything. We fell behind on both our 1st & 2nd mortgages in XXXX XXXX. In XXXX XXXX we reinstated our 1st mortgage. We received several more document requests from US Bank between XXXX XXXX and XXXX XXXX before we received a denial letter in XXXX XXXX and the reason US Bank denied our application was due to insufficient documentation. In XXXX XXXX we received a letter from US Bank that they were going to begin the foreclosure process on the 2nd mortgage. In XXXX XXXX, we received the Notice of Request for Resolution Conference for the Oregon Foreclosure Avoidance Program for the 2nd mortgage. We started working with the local HUD Housing Counselor, XXXX XXXX with XXXX XXXX, in XXXX XXXX. XXXX submitted a packet to US Bank for the 2nd mortgage on XXXX/XXXX/XXXX. However, in XXXX XXXX we were advised that US Bank had to complete a review on the 1st mortgage before they could make any determinations for the 2nd mortgage. On XXXX/XXXX/XXXX we met with US Bank for the Resolution Conference, we were given a list of documents that were still needed. The underwriter was having difficulty understanding our income situation. We paid off the 1st mortgage on XXXX/XXXX/XXXX and when XXXX reached out to US Bank she was advised that the packet we submitted in XXXX had expired and a brand new one needed to be resubmitted again. We resubmitted our packet again on XXXX/XXXX/XXXX. On XXXX/XXXX/XXXX we received confirmation that our packet was complete and under review. We have received multiple document requests since then. After our XXXX Resolution Conference, we had a 2nd conference scheduled for XXXX/XXXX/XXXX. However, US Bank was not ready at the 2 week checkin and asked for an extension, Conference was moved to XXXX/XXXX/XXXX. Yet again, US Bank was not ready at the 2-week checkin and asked for another extension, Conference was moved to XXXX/XXXX/XXXX. Due to a last minute document request from US Bank we asked for an extension and the Conference was moved to XXXX/XXXX/XXXX. We provided all requested documents and were ready to attend, however US Bank still did not have a decision and requested another postponement at the 2-week checkin. We agreed again and the Conference was moved to XXXX/XXXX/XXXX. Two days before the conference, we received a request to reschedule because US Bank still did not have a determination. After consulting with our Housing Counselor we agreed to the postponement and the conference was moved to XXXX/XXXX/XXXX. US Bank had reported as ready for the conference at the 2-week checkin, however two days before we received an email from them asking to reschedule due to them not having an answer yet. We agreed and the conference was moved to XXXX/XXXX/XXXX. At the 2-week checkin US Bank reported as ready however, days before the conference they came back asking for yet another reschedule. We agreed for what will be the last reschedule of the 2nd conference and it has been moved to 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