PNC Bank N.A. Mortgage Complaint

PNC Bank N.A. Mortgage department,

Conventional fixed mortgage Settlement process and costs Maryland

I receive a Proposed Modification to my mortgage and contract - on - -, -. Reviewing the documents I question the, at best misleading and at worst deceptive, nature of the disclosures accompanying the contract. First of all, - - of the accompanying explanation is missing. I notified my contact with my mortgager by phone and requested the first page be emailed to me, and as of this date, that has not been done. I have followed up with an email and am awaiting a reply. Based upon the Exhibit # - and the Contract itself, there are several points that are misleading.


does not clarify when that will go into effect. However, the contract contains a table that explains that the first rate will apply for the first 60 months, and the higher rate will apply for the remaining 237 months of the contract. Here the proposal is vague, although there is room on the right to add the 5-year/60-month notation. Additionally on the left, there is no indication of what the current completion date is, and the - on the right implies that the mortgage will be a shorter term loan. However, it is clear that 11 months have been added to the current completion date - - -/-/-. Additionally, although the contract clearly states that I am agreeing to repay $400000.00, the Exhibit implies in the right column that there has been a principle reduction to $350000.00 ; not that that is the actual amount due after paying down the principle for 5 years. Furthermore, the $00.00 balances under penalties and charges on the right imply that those have been forgiven, not that they will be paid off within the first 5 years of the proposed modifications. Additionally, nowhere in the paperwork I have received have I been credited with the $2600.00 payments I have made in the last 3 months, nor has any indication been made as to how the funds impacted the amount currently owed.