U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

FHA mortgage Loan modification,collection,foreclosure Ohio

- - - -- - ( 8 minutes ago ) A young single mother was preapproved and then approved to buy a $100000.00 -. The lady had a total income of $31000.00 a year. She had monthly debts of $350.00. At the very most, she qualified for a mortgage of $61000.00. The US Bank loan officer arranged a USDA downpayment of $1500.00.


The appraiser from US Bank appraised this old house for $100000.00. It had sold only a few months earlier for $55000.00. Two years later, when US Bank sent an appraiser to determine the value of the property prior to a short sale, the property could only appraise for $70000.00. There were no damages to the property at that time. There are now after a year of being listed for sale. After agreeing to let my client do a short sale rather than a foreclosure, US Bank has done everything in its power to prevent the closing of the property. Their closing agents always take off on vacation when the various buyers ' loans are approved. US Bank managed to obstruct and delay - closings with - different buyers over the course of a year. The buyers were so delayed that they eventually gave up. We received a cash offer of $69000.00. US Bank sent over after some time an approval Summary stating the costs they would pay. As soon as we set a closing date, the new closing agent requested the exact same documents that she had already had and that US Bank had received many different times from myself and my client. She also wanted the same HUD that she had received before. 2 weeks earlier. I sent them, reminded her that the closing date was Friday, and asked if she needed anything else. Obviously not. Because her auto respond message was that she had left on vacation. So on Friday, finally on schedule, we closed and gave the buyer the keys. Now US Bank is angry. They are giving the title company a hard time. Is it closed or not? What does it profit US Bank to foreclose on this property? Why are they so determined to not settle this matter for good? They netted what they wanted minus the - water bill that totalled over $500.00 after a year of delays.What is their problem?