BB&T Financial Mortgage Complaint

BB&T Financial Mortgage department,

Other mortgage Application, originator, mortgage broker Kentucky

In - of - I seperated from a woman I had lived with for a number of years. I was offered a job -. In order to buy my former partner out of the property The Bank - closed my mortague and loaned my enough money to cover this buy cost. I planned on selling the property so the Bank - put the amount on a yearly renewable commercial loan. I stayed - for a year and then returned - where I continued to reside in this house. the property is a - home and a - farm. The farm was on the market for - years with no buyers. each years the Bank - simply renewed the note. In - The Bank - was purchased by BB & T Banking. In - when the note was due to be renewed BB & T were comfused as to what the note was for. They would not give me a local person to deal with and would not allow the individuals that had peviously worked with me on this note to deal with the situation even though they were sill working BB & T. BB & T sent this note to


so I found at this point they had taken the note out of her hands and returned it to their home office -. At this point I started to deal with the - offices again over the phone. Still not given a local person to deal with. The offices - said that they had realized that the note was not really a commercial loan but was written as a means to cover a mortage for my home. AT the end of - - the office - told me that they had converted the note into a 30 year mortage gave me my monthly payment amount. To my suprise when i went into the bank on - - to make my payment the computer said they could not except the payment at this time. Upon investigation by the bank manager the - said they would investigate and call me back. when I recieved a call later that day the lady said that my note had matured on - - and I owed them - dollars. On Monday - - I stopped by the regional office for BB & T in - - and talked to the regional president of BB & T - -. He said he would investigate what was happening with this matter. In the interim while this was going on with the note last fall I applied for a mortage with Farm Credit Corporation ( FCC ), a federal government backed organization. They initally approved the loan based on all my factors, income, appraisals and so on. The appraisal ( a approx. - page report with photos of comparables in a - mile area of my home ) that BB & T had done on my property came back at - dollars. Looking back I dont now understand why they had an appraisal of my property if they thought my loan was a comercial loan and not to cover my mortage. All was approved by FCC in letters recieved by them. FCC wanted to have their retained appraiser evaluate the farm. This apprasier compared my home with propertys - miles away with no photos in a - page report and valued my property at -. My land alone - acres is valued at - in my area, not including at state of the art - home with geothermal heating, no seam metal roof, - composite concrete siding. - master bedrooms, porcelain tiling and many more upgrades.Upon their appraisers value they then declined my loan. With FCC being associated with the government they have in effect an appeal process which I took advantage of. This of course was to no avail as the board members consisted of a FCC employee and - - farmers that were on the board. All of which had no conception of what an upscale house was worth. I also applied to - Bank. Out of space more info contact me.