Consumer complaint received 2025-02-13 00:00:00
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — An existing modification, forbearance plan, short sale, or other loss mitigation relief
Company: TD BANK US HOLDING COMPANY
State: MD

Complaint narrative:
It's so disappointing that I have to file a complaint with CFPB before I get a response from TD Bank. I filed my first complaint against the bank after trying to get a response from them for almost 4 months. They got in touch within 2 business days!

We mailed our executed loan modification application documents to TD Bank and the documents were delivered on XX/XX/XXXX. I also recieved a call from a representative from the bank confirming receipt of the documents. We were informed that it would take 30 business days for our documents to be reviewed and our modified loan payment will be effective. The modification documents stated that our monthly payment will be adjusted from {$4000.00} to {$3200.00}. 

As of today, XX/XX/XXXX, the adjusted monthly payment has not been reflected in our account or monthly billing statement. I place a call to the bank at least once a week and the response I get is that our application is being reivewed by the underwriters and emails have been sent. No one is providing concrete feedback about a response from the underwriters our why our account is yet to be updated. It will be helpful to at least know what exactly is going on. Bear in mind that we are still being obligated to pay {$4000.00} monthly because that is what is listed in the statements they mail to us monthly. {$4000.00} is less than what my spouse earns and only one of us is currently employed. 

The loan modification documents states that we can start paying the adjusted amount of {$3200.00} starting XX/XX/XXXX if we accept the offer ( we accepted the offer and mailed executed documents back to them ), but they still list the {$4000.00} amount in our monthly billing statement ( unfortunately I can not attach our statement because it includes our personal information ). Excerpt of the clause from the loan modification document stating the effective date is attached. 

On one of the occassions when I called to follow up on our application, XX/XX/XXXX to be precise, the representative I spoke with advised that we pay the adjusted amount of {$3200.00} ; but knowing how incompetent TD Bank has been with our account, I knew that it was best to confirm that the new amount is updated on our account first otherwise the bank will 'unapply ' the funds, charge us late fees and subsequently mark our account as delinquent. I have made several calls since then but I have not received an update and neither have we been notified via email. I got a call from the bank today, XX/XX/XXXX, asking about XXXX 's mortgage payment and that we're 17 days delinquent. The lady mentioned she's calling from the department that handled/is handling our loan modification ( loss & mitigation ) but she could not give an update on our application - same underwriter and email story. I hope whoever is handling this complaint can understand how incompetent this makes the bank look. Going to a branch is pointless because they do not have a mortgage department and a call will still need to be placed to get through to the same department we've been calling weekly with no update. I say this because we have done this already. So i'm left with no choice yet again but to file this complaint and hope that prompt action is taken. 

It is very very frustrating that I have to go through this process yet again. It is emotionally draining. TD Bank, do better. Have some empathy.

Company response to consumer: Closed with non-monetary relief