Consumer complaint received 2025-05-13 00:00:00
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: TRUIST FINANCIAL CORPORATION
State: MD

Complaint narrative:
I am the owner of a company that serves as business development for XXXX  in the XXXX region, and several in the XXXX  XXXX region. Due to DOGE cuts and uncertainty, paired with international tariffs for other clients we serve, some clients have cancelled services or withheld payments for work performed. At this point, one client owes for three months of services ( including XXXX ), another owes for XXXX and XXXX, and another cancelled XX/XX/XXXX. 

We have never had a 30 day late payment in the history of my credit. I contacted Truist ( account XXXX ) at the number provided for assistance on XX/XX/XXXX, when it became apparent that we would not make the XXXX payment by EOD. 

The call lasted 19 minutes, and the representative of Truist explained that she could not help us and she would send us information on contacting FHA. It was clear this was not a willful act on our part and was a temporary situation due to client non-payment. Truist remained unhelpful. 

We were able to borrow some money from our mother-in-law to make the XXXX payment, but Truist then locked us out of the online payment system, I was forced to call the representative and schedule a payment over the phone for XXXX on XX/XX/XXXX. He consistently wanted to exclude the late payment from the amount due, and I had to correct him several times on the payment amount. That patent was scheduled and has yet to leave my account, as of XX/XX/XXXX. 

We received a letter XX/XX/XXXX from Turist stating " Our records indicate that you are currently due for 2 payments on the above referenced loan which include the XX/XX/XXXX and XX/XX/XXXX due dates Your total mortgage payments of {$7700.00} plus late charges of {$96.00} have not been received and you are in default of your loan. '' The letter continues, " We would like to help you avoid a very serious situation. If these payments are not received by XX/XX/XXXX, you are at risk of foreclosure and could lose your home. Additionally, a deficiency judgment may be sought to hold you responsible for the loss that may result. Since your loan is past due, we have ordered an inspection of your property to determine if it is occupied and its present condition. The cost of inspection will be assessed to your account. '' My issue with Truist on this is : 1. Truist knew about the late payment prior to it happening. 

2. Until this occurrence due to circumstances beyond our control, I have never had a 30 day late payment on anything, EVER. '' 3. Truist did not offer to assist us in any way that could avoid the massive hit to credit we took a few days later, even though they were aware this is a temporary situation as we seek to recover payments from clients. 

4. An inspection to our occupied property at our cost is not necessary, as Truist knew about the temporary nature of this issue and elected not to engage us or assist in a modification that could avoid a credit hit and would satisfy the mortgage in a timely manner.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation