Consumer complaint received 2016-08-26
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Application, originator, mortgage broker — 
Company: U.S. BANCORP (OH)

In XXXX, I was forced to refinance my home as for some reason, the prior escrow account was short. I had no way to pay the money they wanted so I was told by XXXX XXXX to refinance. I was young and unknowledgable, about mortgage loans. I was told they put me in a good situation. I was put in a terrible loan which would affect everything I do from that day till now. I am paying {$1700.00} a month for XXXX mortgages, prop tax, and home insurance. The XXXX interest rates on these loans are 6.75 and 12.5 %. I recently was told I should be paying {$980.00} a month for all from a mortgage specialists. So for 11 years, not only have I been paying double but I still have NO EQUITY. XXXX, the broker, has went out of business for predatory loans. Attached is an article from XXXX XXXX, of Attorney General ( Ohio ) findings on that company. Next, the lender, US Bank has just cashed in on me! I have sought out doing loan modification but in XX/XX/XXXX it failed. I gave up! I tried again in XX/XX/XXXX to now, only going through XXXX relationship managers and many lies. I have been told countless times I need to resubmit additional documents after I have XXXX ... times before. Then I am told they have everything for review and only to get a call months later asking for same items again. US Bank has sent me letters stating that review will be done by XX/XX/XXXX. It 's almost XX/XX/XXXX and still nothing. But I got notice again, just the other day, they need my first paystub and insurance Declaration page. AGAIN!!!! Just XXXX weeks ago, while I was at work, my relationship manager told me to call her back. Voicemail, which I saved, said " Call me back, I have GREAT news for you. '' On break I called back and I had to go through process of stating name, address, account number on top of other things. She then told me I was approved for loan modification and I would be put on a 3 month trial period paying on {$480.00} a month for mortgage XXXX, from {$1100.00} I have been paying for many years. I thought this was awesome. I may finally have some extra money! Negative, I was called back a week later saying she had the wrong person and that was not for me! Another blow on top of many I have taken from this company! Back in XX/XX/XXXX I was told to my relationship manager back. I did, however she was unavailable. I was transferred to another who went off notes and told me that if i remain current through XX/XX/XXXX payment, I would start trial XXXX XXXX. This was not correct either as I just found out on Monday of this week. The relationship manager before this one, told me its best to go delinquent on loans to get approved in modification. So, to this point I never missed a payment. I just had no money to do anything else because I was always current with all bills and my XXXX credit score proved that. I took her advice and probably missed 7 or 8. I got approved finally but the 3 month trial period payments were ridiculous. I refused as I could n't come up with that money. It was US Bank trying to get missed payment money back, and that was all. I had to pull out of my retirement to catch up on all those missed payments back. My credit score has dipped under XXXX. I ca n't even talk to a refinance company because of missed mortgage payments, until I am at a year of no missed payments again. I was told to miss these payments from US Bank! They have put me in a world of hurt ever since that predatory loan originated in XXXX.