Consumer complaint received 2023-06-13
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — 
Company: PNC Bank N.A. (PA)

It started back on XX/XX/XXXX, my husband and I were thinking about getting a XXXX he chose PNC because that is where he would cash his checks on XXXX. One week he decided to talk to one of the managers about the line of credit, he then referred him to the person that is in that department, the individual work from home at the time. So my XXXX gave me the information to reach out to that person, and I did. We talked, and I explained to her what we were looking to do. She took our basic information and send us an email, All the documents that she requires we submitted, then after she gather the document, the next step was the credit reports. She called me and seems to be a bit surprised based on the conversation. She said you guys have great credit, and I replied yes, we managed to pay our bills on time. At that moment, she asked what was my occupation, I told her that I'm not working and is on XXXX and that is my income. Soon after she began to ask me a whole slew of questions. I XXXX  my XXXX XXXX  mortgage six ( XXXX  ) years ago, my XXXX  pays her own mortgage and lives at a different address. She began to ask for everything that she could think of that had nothing to do with a XXXX. She even collected my XXXX XXXX bank statement, her mortgage and insurance information, her signature, and even her ID. We received a letter that date XX/XX/XXXX saying we are unable to approve your request on the terms that you requested but can approve a lesser amount. The letter even stated the date on which our credit was pulled by XXXX. After she and I already established that our credits were great, now this went on for over ( 2 ) two months back and forth with everything except my blood type. After a while I got sick and asked my XXXX  to communicate with her, I send an email to a guy who was supposed to be her manager. He called me after a few days and said that he will have a talk with her to see if she can remove my XXXX XXXX information and look it over to see what can be done. Nothing different happens, so we continue the process. It was XX/XX/XXXX when they decided that we can close and the account was funded on XX/XX/XXXX. What should have been a simple business transaction turn out to be a nightmare, I was tired, exhausted, and literally very regretful that we enter into this deal. 

Fast forward to some time in early XXXX  we made about ( 4 ) four months ' payments when I notice that the payment amount exceed what I calculated that it should be. One day I stopped by one of the local branches and ask to talk to a manager, the manager was very pleasant and agrees to talk to me, I told them everything that transpired before that day and she asked if she can access my account, I told her to go ahead. She then called her customer service personnel and they recognized what happened. When we were approved the banker lady told us that and have us sign that we get the promotional rate for the first six months at XXXX % and thereafter a lock-in rate at XXXX  %. That did not happen, from the get-go we were paying only XXXX  % and we never get that promotional rate. They discussed what can be done, and I asked them if I can file a complaint. Upon my behave they both filed a dispute. A few weeks went by and they gave us the XXXX  % promotional rate, we paid that for only 2 months, XX/XX/XXXX and for XX/XX/XXXX. Sometime after I was contacted by a young lady about the dispute, we talked and she stated that they would be some type of investigation and she will get back to me. A few weeks go by, then another lady called me telling me that she took over the investigation, and after she reviewed my account I was in the wrong for signing the contract and I am responsible for everything, she was very rude and condescending and that was the end of it. After checking our statement I found out that the XXXX % will be ended in XXXX, and our XX/XX/XXXX, payment will be at a 9.71 % interest rate. On that day when I saw that information I went online to see if that was what was going on, right there I had to lock in a rate of 8.50 % which is lower than the 9.71 % which still ended up costing us another {$100.00}. Since XXXX of XXXX, it cost us over {$300.00} to lock and unlock the loan when it was their fault in the beginning. All we are asking for is for someone to look into this issue, and at least give us credit for those fees and a better rate that is more like the 7.29 % that was locked in at the time or something better.