Capital One Mortgage Complaint

Capital One Mortgage department,

Home equity loan or line of credit Application, originator, mortgage broker Louisiana

IN - MY HUSBAND AND I SECURED A HOME EQITY LINE OF CREDIT FOR - THROUGH - BANK. A YEAR LATER CAPITAL ONE PURCHASED - BANK AND ACQURED OUR LOAN. OUR PROBLEMS DID NOT START UNTIL - WHEN CAPITAL ONE PLACED AN ESCROW ON THE ACCOUNT AND STARED ADDING FORCED PLACED INSURANCE ON OUR HOME. DURING - OUR HUME WAS DESTROYED IN HURRICANE - AND INSURANCE WAS NOT REQUIRED AT THIS TIME BECAUSE THERE WAS NOTHING TO INSURE. THIS WAS E-PLAINED SEVERAL TIME AND AND ESCROW WAS REMOVED FORM THIS ACCOUNT AND ANY FORCED PLACED INSURANCE WAS REFUNDED. HOWEVER, IN THE COMING YEARS ON - FORCED PLACED INSURANCE WAS ADDED AGAIN ALONG WITH ESCROW. I CALLED SPENT NUMEROUS HOURS ON THE PHONE ; SENT LETTERS AND PROOF OF INSURANCE. IVE RECORED EVERY CALL AND KEPT COPIES OF EVERY LETTER I WAS SENT ; AND LETTERS I HAVE SENT CONCERNING THIS ISSUE. SUBSEQUENTLY, IN - I RECEIVED A REFUND FOR FORCE PLACED INSURANCE FOR THAT YEAR. HOWEVER, IN - I WAS BILLED AGAIN ONLY TO GO THROUGH THE SAME TIRING PROCESS AGAIN. THIS HAS HAPPENED OVER AND OVER AGAIN. WE WERE NOT REFUNDED ANY FEES OR INTEREST DURING THIS PROCESS. LET


FAST FORWARD TO - THE HOME EQUITY LINE OF CREDIT ( WHICH I THOUGHT THAT MY HUSBAND AND I SIGNED FOR - ) BECAME DUE IN 15 YEARS. NO PROBLEM RIGHT WE HAVE E-CELLENT CREDIT RIGHT. WRONG!! WE WENT INTO THE LOCAL BRANCH FILLED OUT INFORMATION TO OBTAIN A LOAN PAYOFF OF AN E-TENDED LINE OF CREDIT. WE GAVE ALL INFORMATION NEED TO OBTAIN ANOTHER PAYOFF FOR THIS LOAN. WE HAVE OVER ONE MILLION DOLLARS IN ASSETS ; AND MINIMAL DEBTS. BUT WE WERE TOLD THAT OUR DEBT RATIO WAS TOO HIGH AND WE WERE TURNED DOWN FOR THE LOAN. I UNDERSTAND THAT BECAUSE OF CHANGES IN THE WAY LOAN ARE PROCESSED FOR SMALL BUSINESSES THAT WE MAY HAVE SOME PROBLEMS ; BUT IT TOOK - 4 MONTHS FOR THIS PROCESS. BUT IT GETS BETTER ; WHILE WE TRIED TO GET A LOAN NO ONE AT CAPITAL ONE INFORMED US THAT WE COULD GET RE-MODIFICATION ON THIS LOAN. FIRST WE WERE ROUTED TO LOSS MITIGATION WHICH IS A JOKE. IT TOOK CAPITAL ONE UNTIL - - TO LET US KNOW WE DID NOT QUALIFY FOR LOSS MITIGATION ( THEY ALSO DID NOT GIVE US ANY REASON WHY WE DID NOT QUALIFY FOR LOSS MITIGATION. WE CONTINUED TO PAY THE INTEREST ON THE ACCOUNT UNTIL - OUR CHECK WAS MAILED BACK ADVISING US THAT THE WHOLE AMOUNT OF THE LOAN WAS DUE. THEN WE STARTED RECEIVING LETTERS CONCERNING FORECLOSURE OF SHORT SALE. AFTER CONTACTING LAWYER, - FROM CAPITAL ONE CONTACTED ME OFFERED A LOAN RE-MOD WITH THE TERMS AND INTEREST RATE. ( THIS WAS IN - - ). I DISCUSSED IN DETAIL THE PROBLEMS WITH THE ACCOUNT ( FORCED PLACED INSURANCE ) AMONG OTHER THINGS.. I WAS ASSURED THAT THE LETTERS WERE COMPUTER GENERATED AND I WOULD NOT GET THEM AGAIN. NO OTHER INFORMATION WAS NEEDED AND ORIGINATION WILL CALL TO SCHEDULE WHEN WE ARE TO CLOSE. WE ARE STILL WAITING TO CLOSE THIS ACCOUNT IS STILL IN ORIGINATION ; AND THE FORCED PLACED INSURANCE IS STILL BEING PLACED ON THIS ACCOUNT. I HAVE A PRINT OUT IN AN E-CELL SPREAD SHEET FROM CAPITAL ONE OF EVERY TRANSACTION THAT TAKEN ON THIS ACCOUNT SINCE - ( SINCE THIS COMPANY HAS CHANGES SYSTEMS OVER THE YEARS ) I ALSO REQUESTED AND RECEIVES ALL PRINT OUT OF NOTES FROM CSR CONCERNING EVERY CONTACT SINCE -. WOULD I RECOMMEND CAPITAL ONE TO ANYONE ABSOLUTELY NOT!!!!!!! WITH ALL THE COMPLAINTS CONCERNING CAPITAL ONE HOME LOANS AT THIS TIME, I AM CONCERNED THAT THIS COMPANY HAS NOT BEEN FINED BY THE GOV. OR INVESTIGATED CONCERNING MISMANAGEMENT OF LOSS MITIGATION FUNDS ON THE HOME LOAN SIDE. I AM SENDING A COPY OF THIS COMPLAINT AND ALL DATA THAT I HAVE OBTAINED AND ALL STATEMENTS TO THE ATTORNEY GENERAL.