Consumer complaint received 2017-05-10
Product: Mortgage — Conventional home mortgage
Issue: Incorrect information on your report — Account status incorrect
Company: TCF NATIONAL BANK (WI)

My job relocated me ov er 3 ho urs away from where my house with t he TCF ba nk mortgage was and I continued to make my payments however I was paying for   XXXX  mortgages plus went through a divorce and times were hard. I went to the bank to see if they could help me out. They said I qualified for doing a short sale however they set the price so high that my realtor said it would never sell based on the market and what houses were going for. I relayed this to TCF but they would n't lower the price. Paperwork was  signed in   XX/XX/XXXX . I     asked if there was a time span in which it had to sell by or if they would lower the price, I couldnt seem to get a straight answer out of anyon e from TCF. At one point a round   XX/XX/XXXX    I was  contacted by them saying I had to make a decision and either continue as is as the short sale was no longer an option and may not be again in the future depending on my circumstances or else they would start foreclosure action. I had no offers on it. I was also current with my payments and told them they couldnt start foreclosure as I was making my monthly payments on time. I had simply gone to my bank to see what they could help me out with without going through a foreclosure process if I were to stop paying. I was not treated as a very valuable customer. The only option I was left with then was doing a deed in lieu of foreclosure as I thought it was a win win situation for both the bank and me without either side having to incur high expenses of retaining an attorney and I wouldnt have to affect my great credit and they would have the house  free and clear. Well that didnt happen. They would only do it by holding me responsible for another {$10000.00} saying I had to come up with which I am paying them back each month. They wanted {$15000.00} so I had to hire an attorney to tell them I had no money to pay them and they reduced it to {$10000.00}. I was in this predicament due to all of the mortgages I had and them not reducing the amount of the house when it was put up for sale as a short sale for the amount the realtor suggested. I was also told that they had to report the deed in lieu of foreclosure to the credit bureaus however it would show my loans as being satisfied with them. Well come to find out they reported it to the credit bureaus inaccurately as an involuntary repossession and I didnt know this for well over a year when I tried to refinance the house I was living in which is with a different lender. The new lender I was working with showed I still owed {$45000.00} to TCF. I then re-contacted TCF  in   XX/XX/XXXX  and t hen was told that they had reported it inaccurately and they would correct it. They apparently submitted something to the credit bureaus. So now this affected my credit for well over a year and to what extent I will never know but enough that I couldnt take advantage of the lower rates to lock into a new loan with the house I am currently living in. My application was denied due to the delinquent past credit obligations that were showing up on the credit bureau reports which ended up being the amounts that  TCF took as a loss when they sold the property. This shouldnt have appeared on my credit report ever. I then had to wait for 8-10 months to pass before attempting to try for another loan again. They wouldnt reduce the short sale price when I asked them to and come to find out they sold that property for {$85000.00}. If they had allowe d me to lower the price in doing the short sale it would have sold and they wouldnt have held me responsible for any additional money. I believe they did the higher price knowing it wouldnt sell so they could stick me with a new loan having to pay them back on a property I no longer own. I think they prey on people that are between a rock and a hard place and they dont care if you are a long term customer ( which I was for many y ears ) and tha t they affect your credit.