Consumer complaint received 2024-11-08 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
Company: PNC Bank N.A.
State: MD

Complaint narrative:
We have submitted multiple applications of modification in the last year! PNC has continuously set up modification agreements for failure! The first modification notice never was received therefore we were denied ( XX/XX/XXXX ) due to non payment, 2nd modification we were told to make three payments of {$2400.00} and new payments would be calculated to find out after the three payments were made that the monthly payment would remain at {$2400.00} for XXXX years ( XXXX ) on a loan with a original maturity date of XXXX. Now we have a new " approved '' modification agreement, as we were advised to submit a new modification application that is dated XX/XX/XXXX, XXXX regular mail, of which was received XX/XX/XXXX, with a due date of XX/XX/XXXX and an expected return date of a signed acceptance by XX/XX/XXXX which is a very short window to review, decide, and budget for such a large payment within 10days of receiving notice. One would think at least a 30day notice to pay would be acceptable. however, XXXX called my daughter on XX/XX/XXXX asking were we going to accept and make the payment of {$1900.00} by the XXXX of XXXX? Clearly setting us up again for failure again. All we want is to be able to pay our debt as we try to regain our financial footing from the hardship of illness that was out of our control. To accelerate the maturity date making the payments outrageously XXXX 's the normal payment is ridiculous!! We have asked over and over again why has the maturity date changed? We have yet to be given an explanation other than the " SYSTEM DETERMINES THE TERMS '' When asked how or what determines the systems decisions no one can give us an answer other than saying its what the investors want.. We get vague answers like the investors make the decision, system makes the decision, once we pay the trial amount a new payment will be determined. We have made 3paymenets of {$2400.00} to find PNC wanted to lock us in the payment amount! Now {$1900.00} per Amanda-BUT NOT STATED in the Approval for Conditional Trial Period Plan- WITH A MATURITY DATE OF XXXX. If PNC can adjust the maturity date at will we want the maturity to stay at XXXX. Why PNC is unwilling to do this rather cause more stress to set the payment at an amount that will cause stress and more hardship is beyond comprehension! Again, we feel this is punishment for falling behind in our loan. We wonder how can we qualify for modification to help us yet our payments increase with the maturity date decrease at PNC 's will. This is egregious to send a letter and expect payment within 10days of receipt, have payments increase based on the decrease of the maturity date by XXXX. Not to mention we can not seek remedy from another bank because of the foreclosure status ; even though we have paid the initial trial plan payments of {$2400.00} as requested! We want PNC to be fair. We know we qualify for the modification but don't set us up for failure!

Company response to consumer: Closed with explanation