Consumer complaint received 2015-06-01
Product: Mortgage — Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account — 
Company: REGIONS FINANCIAL CORPORATION (TX)

About XXXX years ago i bought my house. The second mortgage was through XXXX since bought out by Regions Bank. I have paid that note for XXXX years but for the last several years noticed that my balance had only been reduced by about {$800.00} It is an equity line of credit. Regions told me that they performed a random credit check on me about four years ago and that it came back unfavorable. I was not informed of this. Because of this they locked my account and would not let me take money out or use my debit card associated with this account. They continued to charge me {$50.00} a year service fee, and i could do nothing about it. This happened about four years ago. Keep in mind that my account was locked because of a random credit check not because of constant late payments to them. I could eliminate the {$50.00} fee by using my debit card XXXX a year but they locked my account without my knowledge. About XXXX years ago i called Regions and tried for a loan modification or to get this interest only loan to be changed to a permanent loan. I sent in my paperwork, proof of income, all docs. A few weeks later they told me that it is actually better to stay on current loan payment because changing over to a fixed interest rate would raise my payments by almost double. Regions Bank told me it would be cheaper to keep my current loan. So in my trying to get fixed payments to lower my balance Regions told me that its less expensive to keep what im paying now than to convert over to a permanent loan. Well i have paid about {$15000.00} towards this loan over the last XXXX years and my balance has only reduced only about {$800.00}. So Regions keeps charging me a service fee, locked my account due to a random credit check and did not convert my loan over to a fixed rate to finally pay down some principal. About XXXX months ago i called Regions to get some help, they transferred me to XXXX different departments and the person i spoke to actually said to me that that is how interest loans work. So they did not try to help me. I sent them XXXX letters explaining this very thing but Regions did nothing. They did send me paperwork to try to modify my loan again but this does no good. I do NOT qualify, why? I have a current foreclosure on my credit and I am behind on all my mortgages. So with a FC, constant late mortgage payments, credit cards suing me I do not qualify for anything. I recently received a letter from XXXX, XXXX XXXX XXXX XXXX. stating my account was going to FC unless i pay the entire {$59000.00}. This to me is PREDATORY LENDING. They did not change my loan over to a fixed rate and told me to stay on current loan, they keep charging me a service charge and will not allow me to access my own money. In the last XXXX letters i sent Regions i asked if they would keep my payment as is and let me pay for XXXX years ( XXXX years in total ), but converting loan over to a fixed rate, so that principal can be reduced. They did not respond they only sent my account to FC attorneys. Please help. Am i going to have my house taken away because of this? I recently was able to modify the XXXX mortgage on that property and that bank lowered my payment a little over {$200.00}. Please let me know what can be done. I have now received the foreclosure letter. Now Regions is telling me to get out of the house. CAN YOU NOT HELP ME?????