- Report: #791623
Report - Rebuttal - Arbitrate
Complaint Review: Fifth Third Bank
Fifth Third Bank 5/3 artificially inflates the price of home to suck you into buying! Internet
*Consumer Comment: THE ECONOMY STINKS POEM.......
*Consumer Comment: Um, the economy?
*Consumer Comment: Mel, The bankers and the FED obviously believe that fraud........
*Consumer Comment: You've got to be kidding!
*Consumer Comment: My neighbors 2600 sq. ft. ranch home sold 12 years ago for $212,000
*Consumer Comment: Basic Question
*Consumer Comment: Mel, Make sure to 'Google' this- INDYMAC BOYS GET SWEETHEART DEAL, and watch.......
*Consumer Comment: Not seeing the ripoff
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I opened an account with 5/3 and purchased a home through them some months later. After having the home appraised, I was confident I had paid the right price for the home. I began working hard on fixing it up, sinking thousands into the home for improvements. 7 months later I had an in-depth property anaylsis done. The home had dropped $9,000 in value! What? How could that be. The realtor, a 26 year veteran, told me the grim news. 5/3 had allowed me to overpay for my home.
I've left the home in the hands of a realtor and moved back home. The home has now dropped another $35,000 and she's asking I drop the price again! Keep in mind this is all in the span of 6 months - yes 6 months! I urge all readers who may have fallen into this trap and now find themselves so upside down on a mortgage to consider a class action suit against 5/3 and other banks who have done the same thing to them. I have no choice but to walk away from this home, and give it back to 5/3. I am sick that my dream of home ownership has died, but I feel they deserve to keep the home on their books, along with many others until they change their lending practices.
Total consumer fraud as far as I am concerned. Would love to hear comments from others going through this heart-wrenching experience.
This report was posted on Ripoff Report on 10/24/2011 06:56 AM and is a permanent record located here: http://www.ripoffreport.com/r/Fifth-Third-Bank/internet/Fifth-Third-Bank-53-artificially-inflates-the-price-of-home-to-suck-you-into-buying-Int-791623. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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