Consumer complaint received 2024-11-25 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: TD BANK US HOLDING COMPANY
State: FL

Complaint narrative:
I am writing to formally file a complaint regarding the handling of my home equity line of credit ( HELOC ) by TD Bank, which has caused me severe financial distress and XXXX. Below is a detailed summary of the ongoing issues : 1. Loan and Forbearance History - My HELOC with TD Bank began in XX/XX/XXXX. In XX/XX/XXXX, I was offered a six-month deferral program due to financial setbacks resulting from job loss.

- I was assured this program would help me regain financial stability, but it has instead resulted in a nightmare of miscommunication and unresolved issues.

2. Forbearance Period and Deferral Process - During the forbearance period ( ending XX/XX/XXXX ), I was in regular communication with TD Bank and instructed not to remit payments until the deferral paperwork was finalized.

- The deferral was finally approved in XX/XX/XXXX, and I returned the notarized documents on XX/XX/XXXX, via XXXX, well before the XX/XX/XXXX deadline. I resumed payments as instructed.

3. Credit Reporting and Negative Impacts - Despite being enrolled in the forbearance program, TD Bank reported my account negatively to credit bureaus. Although I was assured this would be correctedand even provided a letter stating sothe negative reporting persists, severely impacting my credit score.

4. Inconsistent Communication and Lack of Transparency - Since XX/XX/XXXX, I have made at least 20 calls to TD Banks loss mitigation department to address these issues. I have been told repeatedly that the deferral is in process, despite having a letter confirming my approval.

- Ive requested statements reflecting my payments twice ( on XX/XX/XXXX, and XX/XX/XXXX ) but have received nothing. Calls with the local branch manager, XXXX XXXX ( XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX ), have also failed to resolve these issues. 

5. Ongoing Concerns and Anxiety- On XX/XX/XXXX, I received an invoice in the mail for a {$20.00} inspection fee. While the fee itself is minor, given the current circumstances, it is deeply worrisome. Despite countless calls to TD Bank, no one can provide an explanation for this charge.

- This adds to my suspicion that I am being misled into accepting a predatory new loan structure rather than returning to the terms of my original loan agreement. Something is seriously wrong with how this process is being handled.

6. Predatory Loan Restructuring - The terms of the deferral documents I signed are significantly different from the original loan agreement, and the new structure seems predatory. It imposes conditions that are financially unsustainable and may have been designed to create long-term hardship.

- I feel that I was steered into this deferral plan under the guise of assistance, only to be left in a far worse financial position with fewer protections.

Request for Immediate Assistance I am requesting urgent intervention : 1. Ensure that TD Bank provides accurate and transparent information regarding the status of my loan and deferral.

2. Address and correct the negative reporting on my credit history.

3. Prevent foreclosure actions on my property at XXXX XXXX XXXX, XXXX XXXX, FL XXXX. 
4. Investigate the handling of my account by TD Bank, including their communication practices, adherence to fair lending standards, and the potentially predatory nature of the new loan structure.

I have extensive documentation, including correspondence, timestamps, and call logs, to support my claims. Please advise if additional information is required.

Company response to consumer: Closed with monetary relief