FirstMerit Bank Mortgage Complaint

FirstMerit Bank Mortgage department,

Other mortgage Loan modification,collection,foreclosure Ohio

FirstMerit Mortgage - altered the terms and conditions of a Home Affordable Modification '' that saved my home from foreclosure. The loan modification clearly stated on the signed loan documents ( page - ) that the monthly mortgage payment was to remain at $1000.00 for 12 months ( - ) and could only adjust for escrow after year -. I made my monthly payment as agreed of $1000.00 from -/-/- thru -/-/- when I was notified by First Merit that escrow analysis is done in - of each year and that my - - would be increased to $1100.00. Reviewing my documents I disputed this with FirstMerit but was told escrow analysis is done in - on all mortgages and I am expected to make the larger payment, we do n't care what the document states. '' A late fee of $24.00 was added to my payment because of this dispute. In discussing this later with the attorney that had


that I did not challenge them further. You may ask, why now do I re-visit the issue? It is because I continue to have difficulties with this bank on other loans. The regulations do n't seem to apply to them, they make their own rules. They continue to harrass and prey on individuals that they perceive as weak and easy targets ''. Following the death of my husband, loss of employment and the economic crisis in quick succession, it created the perfect storm for financial difficulties outside of my control. I defaulted on my home mortgage in -, FirstMerit was quick to file a foreclosure action in - even though I had the means to correct the default by that time. FirstMerit refused to work with me, all they were ever interested in was seizing my home, they harrassed me continously at my home and in court for over 3 years as I fought them. I was never informed by FirstMerit of the Home Loan Modification through the Federal Government designed to help families like me save our homes from foreclosure. I became aware of this program on my own and in - made my - payment securing that my - children and I still had a roof over our heads. Even after I received this loan, FirstMerit tried to alter the terms unbelievably. If I am required to abide by the terms and conditions of the loan documents, why do they seem to feel that do n't have to. I am sure, given their unethical business practices I have been on the receiving end of since -, that there are other homeowners that were probably affected as well. Nothing can compensate me or my family for the stress, emotional and financial toll of dealing with this bank through I very difficult period in my life. But, I truly believe that they should be held accountable for their misdeeds. The Dodd-Frank Act was put in place for exactly this reason, to stop the predatory abuses by banks against their consumers that they had a fiduciary responsibility to. I am just a small voice, but hope my experience will make a difference in rectifying an injustice.