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Report: #1493256

Complaint Review: Lisa from Stearns Bank - Florida

  • Submitted:
  • Updated:
  • Reported By: JDB — Venice Florida United States
  • Lisa from Stearns Bank 1285 Flamingo rd Florida United States

Lisa from Stearns Bank Exploitation on a disabled and senior citizen Florida

*Consumer Comment: This Has Nothing To Do With The Bank

*Consumer Comment: Where is the RipOff?

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My husband and I have been in our home for 22 yrs with a 30 yr mortgage for 120,000$. We fell behind when I became unemployed and unable to work in 2015. They said come in to redo your loan. They took our 30 yr mortgage away and gave me a 5 yr balloon. In 2017 I became disabled. They gave us another 5 yr balloon. My husband is 68 yrs old.

Our credit is finally good. So we refinanced our home at a better interest rate. Stearns bank sent over the payoff to the new bank on March 4 th.  It was 136,000$. So I called Lisa at Stearns bank. They put all interest and late payment charges which was $13,000.00 So I asked Lisa On Mach 11 , 2 days before closing if she could forgive some charges and told me she would help on late payment fees.

The new closing was set for March 13. The day of the closing she sent over more charges of $3784.00. I was SHOCKED !!! She was trying to stop us from refinancing. So they gave our new mortgage lender 3 different payoffs. The payoff kept going up and up. Isn't there some laws that were broken.? We payed 22 years on our home and now we  are paying on another new 30 mortgage for more than than what we Initially paid for it. Who can I call. ?

This report was posted on Ripoff Report on 03/24/2020 12:07 PM and is a permanent record located here: https://www.ripoffreport.com/report/lisa-stearns-bank/florida-exploitation-disabled-1493256. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#2 Consumer Comment

This Has Nothing To Do With The Bank

AUTHOR: Jim - (United States)

POSTED: Tuesday, March 24, 2020

There is much missing in your story.  If you purchased your home 22 years ago with a 30 year mortgage of $120,000 and you paid your mortgage on time through 2015, then your mortgage should have been down close to about $70,000-$75,000 by that point.  So between 2015 and 2020, what you basically did was tack on more than $60,000 onto your mortgage.

Perhaps you should share how much you took out of the house when you negotiated the 1st 5 year balloon, and then the 2nd 5 year balloon.  This is why your mortgage now is more than what it was to begin with.

What you should be recognizing by this point is that you cannot afford the home you currently live in, and the house will eventually belong to the bank - those 5 year balloons that were negotiated for you were just putting off that inevitability until either (a) you sell the home, or (b) you lose the home..  It's not the bank's fault - you were dealt an unfortunate set of circumstances and I can see they were trying to keep you in the home.  This final deal is also intended to keep you in the home - at least temporarily.

There is really no one you can call.

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#1 Consumer Comment

Where is the RipOff?

AUTHOR: Robert - (United States)

POSTED: Tuesday, March 24, 2020

You say you have been in your home for 22 years, but during that 22 years.....

You started with a mortgage for $120,000, yet your last payoff was $136,000. Based on this you are saying that in 22 years your mortgage has gone up $16,000? Obviously that is not the case for a regular mortgage so it is likely you took cash out, and possibly more than once.

They put all interest and late payment charges which was $13,000.00
- So even during this last 2 years on your current loan you were still making late payments. How exactly does this get your credit to "good"?

. Isn't there some laws that were broken.
- Well fraud comes to mind. When you took out your loan you agreed to make your payments ON-TIME or accept the late fees and additional interest penalties. Seems like you are now trying to get out of that by hoping that they will waive some of these fees.

We payed 22 years on our home and now we are paying on another new 30 mortgage for more than than what we Initially paid for it.
- Actually, if I read this correctly the new loan you obtained is likely breaking some laws. By your own narrative your husband is 68. If the bank you are now getting this loan is giving you a 30 year loan, your husband will be 98 years old when it is paid off. In many cases this would actually fall under various Elder Abuse laws, making the lender and actual loan agent criminally liable for even offering you this loan.

Who can I call. ?
- If you are truly being given a 30 year loan at 68 years old, the local authorities.

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