Consumer complaint received 2017-05-01 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Struggling to pay mortgage — 
Company: PNC Bank N.A.
State: CA

Complaint narrative:
This loan originally started out as a land loan from National City Mortgage in XX/XX/XXXX for XXXX and bought out by PNC. When my husband was laid off in XX/XX/XXXX we then did a loan modification for the remaining XXXX split in payments of the first XXXX and balloon payment of the 2nd half of XXXX at the end of 15 years. In XX/XX/XXXX we had a private investor ready to release funds at the title company to help finish building our half built home on the property. Everything was at the title company and PNC refused to subordinate. We can not qualify for a construction loan with any bank because we already began building and our funds are limited where a private investor is more willing to help. We have XXXX children and XXXX with XXXX XXXX XXXX and we are just trying to get this house built so we can sell it to provide accurate medical care for our XXXX XXXX. 

XX/XX/XXXX we received a denial for the subordination and application for loss mitigation. We then got a verbal approval on XX/XX/XXXX for loss mitigation over the phone by XXXX at PNC. 

We got the XXXX paperwork XX/XX/XXXX of which 5 of the 6 pages continued to reference " loan modification '' and one page referenced not being approved for " loss mitigation ''. Even though we clearly applied for a loss mitigation. 

XX/XX/XXXX myself and my husband received separate letters of " Statement of Credit Denial ''. It explained that they can not grant our " loan modification '' at this time, even though we have never applied for one. At this point I had not mailed my XXXX paperwork for the contract because of the wording and unclear proposal by PNC. 

XX/XX/XXXX I called XXXX first thing in the morning with no returned message. 

XX/XX/XXXX I received Disclosure of Home Valuation from PNC. It valued our XXXX acre in XX/XX/XXXX at XXXX and in XX/XX/XXXX it had dropped to XXXX based on other sales around the area. We currently owe just under 100k now. 

By XX/XX/XXXX I emailed XXXX at PNC and still no response by ending business day. 

I am very confused with the paper work and their run around. XXXX told me on XX/XX/XXXX not to make my XX/XX/XXXX payment which concerns me since we have always been current, no matter how hard it makes it on our family financially. I am working with a real estate finance team and they said PNC has been known for doing shady work. I do not want to sign anything I do not understand and they do not want to explain it to me. This property is costing my family more money than it 's worth at this point. We have XXXX sick kids and it is becoming a financial burden the longer the half built home sits there. The sad thing is, they could have had all their money if they had just subordinated and let us build the home and sell it. Now, they 're in jeopardy of getting a half built home that 'll be foreclosed with no current permits since I wo n't be renewing if I ca n't get any help. Why should I put a bigger financial strain on my family with all the trips to XXXX XXXX hospital for a property PNC wo n't allow me to finish developing?

Company response to consumer: Closed with explanation