Consumer complaint received 2016-11-16 00:00:00
Product: Mortgage — Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account — 
Company: PNC Bank N.A.
State: NJ

Complaint narrative:
On XXXX/XXXX/XXXX, I was informed that I was able to refinance my high interest mortgage after a few years of struggling with PNC Bank. However, rather than allowing me to refinance, your bank gave me a home equity loan instead. This monthly payment consisted of {$2200.00}. In order to pay off the loan, I paid approximately {$200.00} extra per month, ( {$2500.00} ). I did pay, off and on, extra funds towards my principal. I paid additional principal payments of {$5000.00} on XXXX/XXXX/XXXX, {$2500.00} on XXXX/XXXX/XXXX, {$2500.00} on XXXX/XXXX/XXXX, {$2500.00} on XXXX/XXXX/XXXX, {$2500.00} on XXXX/XXXX/XXXX, {$2500.00} on XXXX/XXXX/XXXX, and {$2500.00} on XXXX/XXXX/XXXX. These additional funds made no change in my principal balance when they were applied. I also received a fee of {$30.00} on XXXX/XXXX/XXXX because of how my payments were applied to my loan. 
I did not get any monthly or quarterly statements and when I inquired about this, I was told they would not provide me with any documentation. I personally went to PNC Bank and requested answers about the breakdown of my payments, how my payments were applied, and why the errors had occurred. I spoke with XXXX XXXX XXXX ( Phone # XXXX ) and he stated that my additional payments were credited as regular payments and therefore my loan was paid months in advance. He told me that he would reverse my payments to correct this and that I did not need to pay untilXXXX XXXX. I requested a summary of my account to make sure it shows what he is recommending and after few months I found out he was wrong with how this was corrected and the bank penalized me. My principal had not been changed and was not reflecting any of the extra principal payments that I made. I called and complained and made trips to the branch with no resolution. Finally on XXXX/XXXX/XXXX I received a call from XXXX XXXX XXXX from XXXX ( Phone # XXXX ). My reference number with him XXXX. He asked me to be patient after months of torture and no resolution to my payment issues. Meanwhile I tried to get assistance from any source at your bank and even went to the Main Branch and talked to XXXX XXXX ( Phone # XXXX ) XXXX XXXX XXXX XXXX, XXXX XXXX, NJ, XXXX with still no resolution to the matter. On XXXX/XXXX/XXXX, XXXX XXXX called me again to say that they were able to fix the errors. However, I would have to pay approximately {$6000.00} in mortgage interest tax to the government if I wantedthe additional funds that I paid to be applied to my principal balance. In an effort to cooperate I reluctantly agreed. They told me my principal balance was changed accordingly but they did not provide me with any proof of how they were calculating the additional funds and did not provide me any statements or records showing this. The only documentation that I received from your bank was the letter to report the interest that I paid for XXXX which {$3500.00}. 

In XXXX XX/XX/XXXXthey finally fixed the situation with a direct transfer payment from my checking account at XXXX XXXX XXXX to PNC checking then debit to my mortgage and also told me that I would now have to pay in person with a check if I wanted to pay any funds towards my principal. At this point I had still not received any documentation or correspondence from PNC Bank via mail or email regarding my loan transaction summary. I became very ill from all the stress your bank caused me and was hospitalized with very XXXX XXXX XXXX and dizziness. However, I would still check my checking account routinely to make sure that the monthly withdrawal of the loan payment to was being debited. On XXXX/XXXX/XXXX I decided to deposit an extra {$2500.00} to my principal and went to the XXXX XXXX branch. The Bank Manager, XXXX XXXX ( Phone # XXXX ), requested a summary of my balance and that is when I figured out there had been no change to my principal balance for the period of XXXX/XXXX/XXXX to XXXX/XXXX/XXXX. I was totally shocked

Company response to consumer: Closed with explanation