Consumer complaint received 2017-03-27
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: U.S. BANCORP (WI)

I am having a problem with US Bank who is refusing to negotiate in good faith and continues to change the guidelines and rules for assistance. This is leading me into foreclosure even though I am in a position to afford my current payment. US Bank continues to make errors in the financial calculations, provides conflicting reasons for denial and is changing and disregarding the rules in order to deny me all options for assistance. I am a gainfully employed XXXX ( XXXX XXXX ) and I take care of my children in this home. What US Bank is doing is WRONG AND UNETHICAL. 
In XX/XX/XXXX, I acquired my home signing a purchase money loan originated with US Bank Home Mortgage. I timely tendered my mortgage payments as agreed for 5 years. However, in XX/XX/XXXX, my husband and I began having marital problems which eventually led to him moving out of our home. I lost approximately 50 % of my household income. As a result, I began to struggle to timely tender my mortgage payments. I did the best I could to keep up with my mortgage payments, going as far as depleting my savings and reserves, but eventually defaulted on my home loan and was moved to foreclosure status. 
In XX/XX/XXXX, I contacted US Bank 's agents advising of my struggles to make my mortgage payments. US Bank 's agents offered me an opportunity to apply for a loan modification. I completed and submitted the loan modification application along with all requested documents. After receiving what seemed like the paper chase and run-around, my loan modification was approved. However, the plan offered no payment relief. I appealed the decision but was ultimately denied due to me not being able to submit the required documents in a reasonable amount of time. I have re-engaged US Bank 's agents several times since and they recently told me that they have absolutely NO OPTIONS available. I do n't qualify for the government HAMP program because my loan was originated after XX/XX/XXXX. I am told that I do n't qualify for the traditional modification, because my payment is currently AFFORDABLE ( my DTI is supposedly below 31 % ) but US Bank has refused to provide information as to how they came up with this calculation, what income was used etc. US Bank also states that I am ineligible for a repayment plan because I do n't make ENOUGH money ( DTI over 38 % ). Once again, they do not indicate if they are taking overtime into consideration, or child support payments etc. They also tell me that the other programs they have are not available because I am more than 11 payments behind. I think they fail to point out that if they would have offered a reasonable program for relief when this first started I never would have become 11 months behind. 
How is it possible that someone who got divorced and lost half their income, with XXXX kids and a decent job is going to lose their home??? This just makes no sense. Why ca n't the late payments be put back into the balance of the loan? Or put into a silent second or deferred till the loan matures? What about a repayment plan?? Oh, they say I do n't make enough money for that, but too much money for a modification. What about increasing the term? 

I find it hard to believe that a giant bank that received billions of dollars in bailout funds from the government has absolutely NO OPTIONS to help me. I am a XXXX, working a difficult job as a XXXX and I am caring for XXXX children. This is heartless and ridiculous. The big banks get richer and crush the people below them and it is sickening.