BMO Harris Mortgage Complaint

BMO Harris Mortgage department,

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

We have a balloon mortgage with BMO. The mortgage was due in full -/-/-. We have made a good faith effort to refinance our property and pay off the loan. We have been denied this opportunity by BMO as we applied for a mortgage to refinance the balloon mortgage with BMO and not only never completed the transaction, we were never notified either of the status of the loan, the appraised value, and whether or not we were approved for the mortgage. When we had no success with BMO, we applied for a mortgage and were approved, but then BMO foreclosed on us and we could not refinance. Here is a timeline in our attempt to refinance with BMO : -/-/-- Met with - with BMO Harris . - told us what was needed to refinance.


-/-/-- came out to our property. -/-/-- Sent the refinance financials and application papers to BMO -/-/-- Received a letter of Approval, still needing information Approx. -/-/--/-/--house of appraised twice. The appraisal was never sent to us. Not sure why it took months to get an appraisal done. -/-/--Received letter from a - at BMO needing some additional information to get to the loan approved, we sent this on -/-/-. -/-/--We attempted to make a payment on our current loan but BMO denied our mortgage payment and would not accept the funds when we went to the bank to pay. When I went to the bank, they told us to call another person named - -. We faxed the paperwork to - at BMO. - said not to worry about paying the mortgage right now, it will all be settled in the new loan and that it will be included in our new payment. Since that time, we have heard nothing about our loan with BMO and never received a rejection or a clear to close on the loan. -/-/--Since we could not refinance, we - - - - since BMO did not make a decision. - was in the process of funding a loan on my parents ' ( - and - - ) house to pay off the BMO balloon mortgage when BMO served us with foreclosure papers. This makes it impossible to refinance. BMO has clearly violated a host of lending requirements and has impeded our good faith effort to