Consumer complaint received 2025-04-10 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: FIFTH THIRD FINANCIAL CORPORATION
State: FL

Complaint narrative:
Complaint again FIFTH THIRD BANK. 
Even when the company misrepresents their loans, they will still tell you that it's your fault for signing, the worst customer experience. 

XXXX XXXXrequest to unlock rate and re lock rate with addendum form on my XXXX  ( equity line of credit ). Quoted then applied for 15 year loan term. Read a script and reviewed in fine detail my expected interest, prorated payment then regular payments of around XXXX. Form sent to local branch. I enter branch and branch manager simply prints form and hands to me with no discussion ... .I sign under the impression I was signing for exactly what I APPLIED for. Call it a day. Fast forward to when the billing updates and I notice a {$1100.00} autopay scheduled ( sounds like not much but trust me it's crucial on a single mom income ). I was PROACTIVE and called prior to autopay, in which I was advised next payment is {$700.00} as a prorated bill then I should see the payment return to the advised amount ( XXXX ). I said no the scheduled payment I see while logged into my bank online is higher than {$700.00} it's {$1100.00} but again I was advised no that's not right it's XXXX as if I was blind to what I was seeing in front of me. Fast forward to payment date, wan na know what came out? Yeah, it was {$1100.00} which indeed overdrew my account because that's not the payment I agreed upon ( misrepresentation ). Second payment is now scheduled and would have loved for it to have been XXXX like the bank told me but no it was {$750.00} so I call again proactively. Next person also had the same answer that I was experiencing a prorated payment and I should expect the next payment to return to normal. I was irate because no one was taking this seriously and I was financially struggling as a result of this banks critical error. I let it hit my bank a second time, mostly because of I had too much other stress factors going on I had to deal with. Third month now billing is schedule and I see it's again {$750.00}, which clearly confirms that is my regular payment. I call and explain situation where the agent ADMITS BANK ERROR AND FAULT as they see I requested the 15 year but by mistake somehow the person keyed in the request form for the rate lock as an ( unwanted ) 10 year loan term which is what I unknowingly signed and explains why my payments have been much higher than I was advised. Whether intentional or not that is misrepresentation and I have been financially burdened by this mistake to the point I had to pull more money from the loan to pay off other bills to avoid being late since the bank had all my money and kept taking more. It's not fair, ethical, or right. This needs to be fixed retroactively at the least or all overpayment refunded/credited. The loan needs to be re locked and the fee waived to lock. So much unnecessary stress FiFth Third Bank has caused me.

Company response to consumer: Closed with explanation