ED Magedson – Founder
Jaime Maldonado, Branch Relationship Banker, E. Oviedo, Florida Deceptive Liar to fraudulantly cancel our open line on our home equity mortgage stopping our ONLY income source Oviedo Florida
My wife and I told the branch relationship banker that we had a cash balance from a real estate closing. We mentioned that we were going to put the money we got from our land sale that netted us a $230,000 LOSS. Since our current automatic interest only payment on our OPEN credit was at 2.75 %, we knew that if we put it in our bank we would only earn .50 %.
We told the banker that we have made a very good income over six years (before 2006) by using our good credit rating by depending on our prior open credit lines at another bank. We told him that we would start increasing our open credit and maximize our credit limit within six months. We said that since I can't find work at age 73, we would borrow enough to construct a speculative home on land we owned. If it didn't sell for even a small loss, we would sell our home with the HELOC and move into the spec home.
The banker assured us that we still have an open credit and can easily maximize our credit back up to $250,000. We told him that we wanted to be assured that our ONLY income source was available and that we wanted a letter from him with that assurance. He said that he would do BETTER than a letter and went to our loan account on the computer. HE THEN LIAD AND FRAUDULENTLY SHOWED US ON THE COMPUTER THAT WE STILL HAVE AN OPEN LINE. He also showed us that we still had OVER 10 YEARS REMAINING.
That meeting at the bank was on Feb. 29, 2013. I went to the bank about 4 weeks later to start advancing our credit with a small loan request. I was told that our credit line is blocked because we mitigated our interest payments at the end of 2008. I was using our savings to repay some of our loan excess that took our loan beyond our maximime amount. I have been making automatic payments since 2011.
I want my line reinstated at 2.75% and reduce the pay-off date to the end of 2018. I hope to sell our home next year. Florida's real estate values have not returned to what we paid for our home in 2006.
The branch manager, Josh Allen, and his supervisor in Birmingham have said that once I mitigated, I automatically blocked my credit line. That severe fact has NEVER been divulged to me or been visable on my account page shown to me FRAUDULENTLY on the banker's computer.
This report was posted on Ripoff Report on 06/29/2013 10:33 AM and is a permanent record located here: http://www.ripoffreport.com/reports/regions-bank/birmingham-alabama-35201/jaime-maldonado-branch-relationship-banker-e-oviedo-florida-deceptive-liar-to-fraudul-1063089. 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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