Consumer complaint received 2016-09-14
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure — 
Company: SUNTRUST BANKS, INC. (GA)

Our mortgage agreement with SunTrust Mortgage was entered into in XXXX XXXX, which is a 10 year interest-only, adjustable rate loan. On XXXX XXXX, XXXX SunTrust doubled our mortgage payments, going from approx. $ XXXX to approx. {$3400.00} per month. After 10 years and {$100000.00} down payment, we could no longer afford our home. We readied the house for sale and got it listed in early XXXX XXXX. We continued making the payments as long as we could -- till about XXXX. Also in XXXX XXXX, we secured a purchase agreement on the house, with a closing date of XXXX XXXX, XXXX. The afternoon of XXXX XXXX, XXXX our realtor advised us the buyers needed to extend the closing to XXXX XXXX, XXXX. As we had already secured a rental house in which to move, we signed the extension and moved out of the house, honoring our end of the agreement. Ultimately, this buyer breached the contract and submitted to us a termination on or about XXXX XXXX, XXXX. We re-listed the house as soon as possible. I had made a phone call to the SunTrust Loss Mitigation Department about that same time, and learned they had scheduled a fast track foreclosure sale date for XXXX XXXX. After filling out a loan modification application and dealing with much misinformation, confusion and trauma with their XXXX XXXX Department, I filed a complaint with the CFPB. Supporting documentation of this purchase agreement was provided to SunTrust and to the CFPB. We continued our efforts to sell the home ( another contract was secured, but also lost in XXXX XXXX ). Supporting documentation of that sale agreement was also provided to SunTrust. I then moved back into the home the week of XXXX XXXX, XXXX. Via an email of XXXX XXXX, XXXX, I informed XXXX XXXX, XXXX. XXXX XXXX of SunTrust Mortgage that I had moved back into the residence. In that email, I clarified my understanding of the law on fast track foreclosures, in that, they are not permitted while the homeowner is residing in the home. His reply email on XXXX XXXX, acknowledged receipt of my email and my moving back into the home. Since that time, we have relisted the home for sale, as we still can not afford their astronomical payment and demands for over {$30000.00} to reinstate the loan. Yesterday, XXXX XXXX, I learned from my realtor that SunTrust has now advertised on-line a foreclosure sale of XXXX XXXX. I have not been notified of the sale date by SunTrust Mortgage or their attorney. My realtor has advised me, that the notice of the sale is NOT listed with the tax assessors office in XXXX XXXX, or any other means by which a licensed realtor has access, but can only be found with a XXXX search of my home. While we 'd had an interested cash buyer, of whom it was they who advised my realtor of their XXXX search, that cash buyer has now stated they are no longer interested in purchasing the home at my asking price. 
In the first 10 years of our mortgage, SunTrust earned pure profit from us through our monthly payments, to the tune of XXXX to XXXX of the mortgage amount. Yet, not XXXX dime of the monies we paid them went to the principle balance. I understand that this mortgage type is no longer legal. Additionally, the trauma of all these events has been too much pressure on our marriage, and we have now parted. If SunTrust is permitted to proceed with the XXXX XXXX sale, I will be left homeless.