This bank needs to be reported for unethical and most likely illegal banking practices. They are a rip off bank, they screwed up my loan docs which has resulted in being unable to refinance my loan either with someone else or even with them! I could be saving hundreds with the rates given the current rates that are available. I have been trying to refinance either with someone else or them for the past two years! But because some idiot mis-dated the docs on my 2nd trust to a date prior to my actual settlement and since they (BB&T) gave me a home equity loan as a purchase 2nd "NO ONE" will touch my loan now because the banking laws have changed, since I initially took both loans out. Both of which are with BB&T, so it's not like I'm even trying to refinance some other banks loan. ( apparently now you can only refinance a 1st mortgage and purchase 2nd trust). Which is what I have, however, because my 2nd trust was proved as a home equity (which I didn't even know at the time) and is was processed days before my settlement NO ONE will touch this loan now. Not even BB&T who is both the lst and 2nd trust holder. When I talk to the loan department they tell me the home equity department would have to do the loan, the home equity department aka retail loans department) says I need to talk to the loan department. I've talked to three branch loan officers none of which would do anything except to say. They can only refinance the lst trust because the 2nd is a home equity. When I explain it was a purchase 2nd they said because I received CASH from the home equity they can't be merged into one loan? WHAT CASH? WHEN? No one ever gave me nor did I use any cash from this 2nd loan. Hell I didn't even know it was a home equity until some other bank pointed it out when I first went to refinance the loans. Also I was told because the "home equity/2nd trust" was dated on HUD1 almost 15 days prior to my actual settlement date, I must have received cash! I DID NOT EVER RECEIVE ANY CASH, IT WAS ALL APPLIED TO THE SETTLEMENT I HAD LATER THAT MONTH! Which makes this a purchase 2nd trust. the bank calls it a home equity line, the other banks call it a personal loan, which is why they won't refinance me. BB&T won't because the date of the HUD1 was backdated. WTF..NO ONE EVER GAVE ME ANY CASH AT ANY TIME EITHER BEFORE OR ON the settlement date showing on my HUD1 for my first trust. So here were are with rates at 3-4% and I'm paying almost 7% between the two loans for something that had it been done correctly I could be saving hundreds of dollars a month now that the principle is going down. This bank should be investigated since you BB&T can't have it both ways either I have a purchase 2nd and refinance my loan, or fess up that you screwed up my loan docs.
This bank practices illegal banking policy and should be brought out into the open. Just because they are one of the smaller banks out there (not a Bank of America or Wells) doesn't mean they don't play as dishonestly as the bigger banks!!