Consumer complaint received 2017-09-05 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: BMO BANK NATIONAL ASSOCIATION
State: WI

Complaint narrative:
XXXX and I opened a Home equity line of credit with XXXX bank XXXX/XXXX/XXXX it was an interest only line of credit, which we used to pay for XXXX expenses as we sent her back to college. Harris Bank bought XXXX in XXXX XXXX, by XXXX XXXX we received the letter telling us that the loan was no longer offered and we could work with them to convert the loan. We began working with XXXX XXXX ( XXXX ).  After several weeks, we were almost to the end when XXXX ask for XXXX Social Security number. Being concerned about Identity theft we sent the last email asking her to look it up on the taxes we had sent earlier, I did a follow up with a phone call and gave it to XXXX verbally, and confirmed that was all she needed from us. 
We didnt hear anything else from Harris, now BMO until XXXX XXXX, XXXX and we received a refund for interest (? ) following with the letter XXXX XXXX, XXXX giving us to XXXX XXXX to address the issue. We had contacted BMO and we referred to the recovery department and they were looking for an offer to pay off the loan and were told that getting a loan modification was not an option. When I asked where my loan went for 2 years I was told that since I had not giving all the information on the first application my file was closed, I told them I had, and was inform that was not the case ( please refer to my emails ). As of XXXX XXXX, XXXX BMO reported the loan are a write-off and my credit score dropped to XXXX, even though the last letter said the was no negative reporting. I then contacted XXXX XXXX the manager XXXX branch where the loan was originated and asked her to fix my credit. I gave her copies of my documents and indicated she thought she could help. Over 60 days later ( and many phone calls ) she informed me that the only option I had was to work with recovery and they will not fix my credit. Desperate a referred back to the last letter and contacted the department listed and currently am working with XXXX XXXX, to get a loan modification, however this is not a sure thing and it will still not fix my credit. 
The long and the short of this is BMO should have never closed my loan application in XXXX. In reviewing my credit score after XXXX XXXX, the loan was listed on my report and without and payments and my score dropped to XXXX for not having on time payments and using over 90 % of my available credit, which I was unaware of until recently. After it was reported as a charge off it dropped to XXXX. I have contacted my own bank who will not give me a loan with a score so low. I have never tried to get out of paying this loan, I have only dealt with BMO in good faith hoping for the same but, by BMOs actions, I am trapped, I can only take whatever they offer me. I need you help as my advocate, Im out of options.

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