BB&T Financial Mortgage Complaint

BB&T Financial Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Virginia

I have had a horrible experience with my mortgage from BB & T from the start. However, this latest issue has really frustrated me. My intention from the start has been to pay $1600.00 towards my loan, - a month. My monthly payment is around $2700.00 and the remainder is to be used to reduce the principle. The reason why I am paying - a month is to reduce the interest that accrues on my loan. After contacting the bank today, I learned that they do not apply my $1600.00 payment to the balance of my loan until the full monthly payment is received. The money sits in a suspense account ''. Therefore, I do not pay less interest at all. However, BB & T has my cash that they can use to invest and earn profits for themselves!!! Their customer service told me that their system is not set up to support bi-monthly payments. However, on top of


It is just wrong that BB & T does not offer bi-monthly payments to their customers but will sell your information to other companies offering to do just that! This is just a fraction of my issues with BB & T. In addition, they lost my original loan paperwork with all of my personal information on it. To date I have received no follow-up on that issues, so as far as I know it 's still lost. And, I had a horrible experience with my mortgage loan officer who was incompetent and incredibly rude. I would refinance in a heartbeat if it were n't so costly!