US Bank is the biggest rip off con artist lender along with Wells Fargo, Chase and many others who were involved with The Independent Foreclosure Review.
I lived in my house and paid it out over 4 times. I've been here for 27 years. I placed an addition onto the back of my house and paid for it in cash.
My Mom fell ill and I had to care for her. I cared for her at home for 6 1/2 years and had to refinance my house, because the Medicaid state run program my mom was on would not pay me enough in the beginning to make my house payments. I fell into the predatory lending scheme.
I contacted US Bank before I was behind in my payments and was given the wrong advice from them. I was told that unless I was behind in my payments, they could not help me and I should not make payments for 4 months.
US Bank agreed to make 2 deferments with me, both of which they had no intentions of following through with. I gave them an extra $6,000.00 that I could have used.
I believed them when they agreed to a workout program with me; however...
US Bank filed foreclose on me in the middle of the workout program. They accepted my payment AFTER they filed foreclosure, promised to catch up with my loan twice in two deferment agreements (both of which I paid $3,000 each and fulfilled my end of the deal) and then they raised my house payments so high that I was unable to make payments.
I have them on recording lying saying that they would not file foreclosure, because I was in the middle of a workout program, I have documents showing my payments and when they were accepted at US Bank with a teller stamp on them - payment they accepted after they filed foreclosure. They didn't even own title to the property when they made these agreements with me. YET, it appears they won and I will soon have to move out of my house.
US Bank hired six attorneys to get me, because I was a board member at ESOP Cleveland and US Bank told me that it was pay back time for me and they would get me.
In the beginning they told me to not to make payments and fall behind, or they would not be able to help me. I asked for help from them BEFORE I was behind in my payments.
I even received a $500 check from the Independent Foreclosure Review acknowledging that I was a victim of US Bank. (Isn't that was the check was issued for?)
I am so surprised that the government does not stop these corrupt people from doing this to homeowners.
For those who think homeowners deserve this, wait until your mortgage company raises your monthly payments a few hundred dollars for no reason and pads their escrow account, to make you default, so they could file foreclosure on you. You will be singing a different tune. US Bank is doing this to my daughter now and I told her to quickly refinance. They are doing everything in their power to try and make people default, so they could foreclose.
Don't let anyone tell you they don't want to foreclose! If they foreclose, they get to collect insurance on your home maybe 3 times or more what your house is mortgaged at. They took this insurance long ago and are now collecting from investors who they lied to. Why do you think Lehman Bros filed bankruptcy? They were investors to these big banks and once the banks started doing this, they threw these investors into bankruptcy. US Bank or any lender will not profit by working with you through a modification, they would have to be foolish to do that. They would rather foreclose.
Don't waste your hard earned money by giving them anymore money through a deferment or any program, because YOU WILL LOSE IT!
Come on Mr President, isn't it about time some action is taken on these banks?