Consumer complaint received 2022-03-29 00:00:00
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — 
Company: M&T BANK CORPORATION
State: CA

Complaint narrative:
To whom it may concern, I purchased an investment property XX/XX/XXXX with M & T Bank being the lender. The intent to purchase the property was for rental income purposes. The other was to help a former business partner with housing as well as her credit profile by putting her on the mortgage loan and grant deed for 1 %. Putting M***** M**** on the loan would help improve her credit. M***** M**** increased credit score resulted in higher credit amounts to help pay for the catering business XXXX XXXX we owned together. I was the only person injecting cash into the catering business. 

Out of my pocket and no funds from the tenant, I provided the property down payment, paid for the unit remodels, repairs, maintenance, and property management. I have all documented proof. 

4 years later, the tenant XXXX XXXX with a leasehold and 1 % interest informed the contracted property management, that she will not be able to make her rent due to Covid -19 hardship. 

XXXX of XXXX, I placed the property into forbearance as I could not make the payments without the tenants participation in rent. I also suffered from income loss due to my inability to work as the pandemic hit every part of the real estate industry. The State of California would not allow the collection of rents if the tenant claimed Covid Hardships. 

From XX/XX/XXXX through XX/XX/XXXX, I tried XXXX times to get the property out of forbearance by executing a modification of the loan. The loan modification was not executed due to the tenant with a leasehold and 1 % interest refusing to sign the loan modification documents three different times. M & T bank will not proceed with a Covid 19 loan modification without XXXX XXXX signature. 

After XXXX XXXX claimed to suffer Covid 19 hardship, she refused to sign the loan modification documents. This is due to a lawsuit complaint she filed claiming entitlement to 50 % of the property??? The tenant brought a lawsuit 4 years later regarding ownership interest after signing the grant deed of 1 %, original loan docs, closing docs, a lease, and fully executed authorization letter allowing me to make fiduciary decisions and project manage the property??? 

M & T bank will not proceed with a Covid 19 loan modification without XXXX XXXX signature. 

After pleading my case to M & T Bank, HUD partners, My Attorneys, no one is able to help the situation? I am being punished with a foreclosure, current horrible credit, future income loss, and inability to sale the property, for helping house that tenant, with a leasehold interest and 1 % ownership interest, build a catering business. 

Under the advise of XXXX XXXX Attorneys, that are on a contingency payment agreement, XXXX XXXX is willing to risk a foreclosure on her credit profile to try and have me capitulate to her demand of an unwarranted, unsolicited, unfavorable, ownership interest of 50 % in the property. This is a form of bullying, harassment, and a display of no integrity or honesty.

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