BB&T Financial Complaint

BB&T Financial Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Texas

We had a home built and closed on our loan in - of -. We closed knowing the taxes were based on an unimproved amount and would increase in - of - when the - appraised our home with improvements on the land. When - - came and went and I had not received a letter from BB & T Mortgage regarding an increase in our payment due to the taxes going up I called them. I was told that they do their annual escrow evaluations in - of every year and I should receive a letter in -. Knowing that there was already a 6 month time period for the - taxes that I have not been paying on improved amount I began saving money to accommodate until BB & T sent their letter. When I received their letter in - - it said my escrow shortage was $480.00 which I knew had to be wrong as our taxes went from $1000.00 per year to $9700.00 per year. I called BB & T the same day I opened their letter and explained that I thought they were wrong and they needed to properly adjust my mortgage payments. The person

communication from BB & T I called them again. They said I would get a notice for the - shortage after they do their annual evaluation in - -. I saved the difference in taxes paid versus owed for - waiting for the letter which I received - -, -. To my complete shock when I opened their letter it said that I have an escrow shortage of $15000.00 or the option to have my mortgage go from $1800.00 to $3800.00. BB & T waited TWO YEARS to get my escrow account right and send a letter saying I owe them $15000.00 - this is insane! Although I did my best to be a responsible consumer and save for what I thought my shortage would be due to BB & T 's complete lack in ability to properly set up an escrow account it is nowhere near what they say it will be. I now have to sell my home as we can no longer afford to live here. Had they adjusted my mortgage when they should have in - of - this would not be an issue. BB & T 's lending practices are irresponsible and reckless, not to mention financially crippling to consumers like myself. Please assist in making sure that consumers like myself are not victimized this way in the future and force BB & T to better service their customers. What has happened to my family is in my eyes criminal and now my entire monthly salary will have to pay this mortgage payment until I can sell this home that we can no longer afford due to the careless lending practices of this company. Please help!