Consumer complaint received 2016-12-27
Product: Mortgage — Home equity loan or line of credit
Issue: Loan modification,collection,foreclosure — 
Company: TD BANK US HOLDING COMPANY (NY)

TD Bank is the holder of my second and third mortgages since XXXX. I have tried to deal with this bank in the past, several times, over the last past three years for a similar matter, and a year ago had reported this to the CFPB. Since my last complaint, I have had a major change in circumstance. When I last applied to this bank for a mortgage modification, we were struggling to pay these mortgages and had been for a few years. Since then we went back to paying for over a year and a half as we had no choice, the bank was taking serious steps towards foreclosure. However, this past XXXX, I lost my long time job, thrusting my family into a serious decline in income. I appealed to this bank again, only about two months ago, filling out a hardship application for both loans. It took a while but I received a letter from the bank for each loan, stating that according to them, we can afford to make these payments. No other explanation was given. That was all the reply I was to expect? No further investigation into our financials? I experienced frustration beyond belief. Who are they to tell us we can afford it? What are they even looking at or considering? Just one submitted proof of income? I fail to understand. We lost a XXXX steady part time income in our household and I am now off of unemployment as well after six months. We lost an good supplemental income that allowed us to pay our major monthly debts and obligations and had enough after to put food on our table, pay medical expenses and our other pressing obligations. Now we are struggling to pay simple things like our phone and gas bill and to put food on our table. If one of our cars should break down we would n't even be able to pay for a repair at this point. I find it hard to believe that a major bank like this has no program to lower interest rates on mortgages. We are paying very high interest rates on both of these loans making them absolutely unaffordable. We are at the point that if I dont ' find employment very soon we may have to go back to not making the payments by XXXX and ruin our credit which is fairly good at this point. It is also very unlikely that I will be able to obtain the type of employment which can support these loans as I due to health concerns can not work full time. We are besides ourselves with this bank. they are simply impossible to deal with and known to be a " very difficult bank '' in the debt relief industry. Futhermore, I have health issues and may be filing for XXXX next month. If awarded XXXX, I will have a very modest income at best for the rest of my life if I do n't return to work but not an income which can support payments such as this. It 's either pay the full payments or lose our house? There are no other options. Let me state, that the only modification that this bank offered me in the past and I had no choice but to accept, was to bring me current or give us a " recast '' which is the same thing. I am current right now only barely and not for long. A recast is not lowering interest rates as everyone knows and should never be considered a form of modification.