Consumer complaint received 2023-06-02
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: CITIZENS FINANCIAL GROUP, INC. (NY)

XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX XX/XX/XXXX To Whom it may concern, I would like to initiate a formal complaint against Citizens Bank Inc. for their predatory banking practices and failure to comply with Federal Banking under the COVID19 Cares Act. Around XXXX of XXXX I began experiencing financial hardships due to XXXX, my wife and myself had multiple XXXX health issues, numerous incidences of XXXX  and vaccine related injuries, my company reduced overtime, record inflation occurred, and we had tenants that could not pay rent. 
We made the difficult decision to explore XXXX Forbearance and contacted Citizens around XXXX of XXXX for advice. We spoke to them and learned we could use the forbearance program offered under the cares act. We accepted and were told that we would have 18 months and at the conclusion we would have the opportunity for a loan modification and loan rehabilitation. Well, we had no idea of the nightmare awaiting us. 
In the beginning we were told the program was 18 months, I never got anything in writing, Loss Mitigation told me not worry, many people were facing financial hardship and the laws were strong on this. Soon after I found out this was misinformation, in fact I frequently had to check in and extend the forbearance every three months. I routinely contacted Loss Mitigation as instructed ad did what they instructed me to do. The real trouble started in XXXX of XXXX when I was informed that my forbearance was in fact terminated as the Cares Act Laws had changed. Well, I was a little freaked out now, what do I do now? 
For the record I was told all the conversations would be taped, apparently not, more on that later. I spoke with a XXXX in Loss Mitigation on XX/XX/XXXX, she had told me that there was a computer transition error and that my forbearance was not extended but not to worry, she spoke to her supervisor and that it would taken care of and to call back next month. I called next moth and spoke to XXXX and was told to start the Loan Modification process. 
I started the process and by the time every was ready to go, I made payment XXXX in XXXX, payment XXXX in XXXX. Later in XXXX I was told my XXXX was too high to get approved and that I needed to pay down debt or show more income. I submitted additional income sources as was requested which subsequently caused the application to fail as these income sources were not disclosed at the beginning. I spoke with XXXX on XX/XX/XXXX and XXXX on XX/XX/XXXX and was told a new package would be sent to me to reapply for a loan modification. Making matters worse when the loan mod is not under review, I was not allowed to make payments. 
No loan repayments were made in XXXX due to this factor, I made a repayment in XX/XX/XXXX. Sometime around XXXX I made the decision to sell our house and try to downsize our mortgage commitment and trade into more affordable home that we could afford and that would not rely on tenant income. To my surprise we received a generous offer which we accepted. I found a home in XXXX XXXX which fit our criteria. I let Citizens know we were in the process and have continued to reapply for loan modification. During this this I also lodged a formal complaint with Citizen Office of the Chairman and have been working with underwriter, XXXX XXXX on the loan modification. I made an additional payment # XXXX in XXXX of XXXX. I stopped repaying as we are in contract and I as far as I know I am not required to repay while my loan is being considered for a loan modification and we are closing in less than one month. 

In closing we feel treated terribly and would like to discuss this matter with someone from the CFPB at your earliest convenience. There is much more to this matter that needs additional discussion. Additionally, all the customer support was very poor quality, in my opinion they seemed to be of extremely poor quality and barely spoke English in many cases, frequently gave incorrect and damaging information that hurt my case. Looking forward to speaking with you and resolving this matter with Citizens Bank. 

Best Regards, XXXX XXXX