PNC Bank Mortgage Complaint

PNC Bank Mortgage department,

Other mortgage Application, originator, mortgage broker Illinois

In - I invested my - into multi-residential apartment units and financed it through PNC Bank. My loan # is -, under my - complaint organization called -. Over the last few years I tried to refinance this loan at existing interest rates which were 3 % -5 % points lower than my existing loan at 6.75 %. - of my attempts were rejected. Over the course of 8 years I 've paid - of - of dollars in interest but principal amount have been reduced by only $ -. After the economic downturn in -, the interest rates dropped and so I wanted to protect my - and leverage the low interest rates, but PNC rejected my requests for refinance, and continues to charge me high interest rates. I also suspect that with the current 6.75 % interest rates, the calculations may be compounded by additional charges which I do n't understand and this could be reason why it is not making a dent to the principal balance. Since the original investment came from my - I want to protect this investment, but at this time I think I am going to be losing a substantial portion of my


the economic downturn and even to the current day, my - organization, - - has lost money each of the last 8 years. PNC cooperation in refinancing my loan in -, - could have saved me - of dollars in interest payment, and helped me break even at least. I 've not missed a payment on the loan since -, and was hoping PNC would take this into account in refinancing my loan as early back as in -, when commercial loan interest rates were falling. Looking for some interest rate relief and retro relief too, as a special case since my retirement investment via - was designed to be my retirement income, in a couple of years time when I retire.