Consumer complaint received 2017-12-13
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — 
Company: REGIONS FINANCIAL CORPORATION (SC)

We have had a long term relationship with Regions Bank, from business to personal. 
The problem iniitially stemmed from Regions Bank Giving a draw for {$180000.00} to a XXXX XXXX on a home we were having built on land which we owned since XXXXThe officeXXXX XXXX XXXX never checked the stage of the home and simply signed over {$180000.00} on this home to a builder who we were forced to pursue who of course had nothing when we got him to court years later. We can supply copies of the lawsuit which was handled by XXXX XXXX of XXXX, XXXX in XXXX XXXX Carolina.The initial documents apparently supplied by Regions prevented us from bringing an action through a jury and well protected the bank. Since this home was left as unfinished I was forced to hire and consult other builders to finish the home. In addition to an improper roofline and wrongful electrical being done it was determined that we were upside down over {$80.00} for the bank wrongfully turning over our construction money without checking this was to be done. This being the case we were forced to reach for funds by pulling against credit lines and also secured a second mortgage against our primary residence in the form of a HELOC and from whatever credit resources we had at that time. Regions Bank than called us in XXXX and told us it would benefit us far more to have a " fixed rate '' that would apply monies to the principal. I also wish to add that the original mortgage was a credit line which was closed unilaterally by Regions bank so we feel this loan was given under false pretenses. Now out of the blue without our knowledge the bank REGIONS BANK has sent us a balloon demand for XXXX XXXX. We have been on the phone no less than 7 times without success. On the eighth try I received some assistance from a credit services representative who at least took the time to look up the notes under our name and offered to give us copies for us to have.These of course are barely legible and in such tiny print that a consumer can not really read this. I have kept detailed logs of these attempts and we have been disconected numerous times and spent over 10 hours on hold being disconected, switched around and being totallly frusrtated and put off. There are not enough categories to file this complaint against Regions from : 1 ) Giving a loan with no benefit ; 2 ) Misleading the public ; 3 ) Incompetence by giving our funds to a builder without checking what stage a home was to be built and 4 ) Even " alterring documents '' after giving an approval on a commercial loan to show the approval is only good for ten days after alterring their end of the documents. The reason for this complaint at this point is because a balloon is now being demanded on our residence prompted by imcompetence and being misled by this bank. I have asked the bank for copies of ALL documents signed with Regions and proof they gave us the opportunity to review these with an attorney of our choice. The documents do however give the bank every protection afforded such as '' not be tried by a jury or action taken against themselves '', so they well protected their interest and did not uphold our rights to be protected by a lawyer of our choice. Lastly after recent scrutiny and putting a magnifying glass it also appears there was a potential for a pre pay penalty if paid off early, not that this is a concern of ours. All of these terms were only legible after putting a large reading glass to the documents.