Truist Bank (formerly BB&T Bank) review: Foreclosure 6

I certainly agree. BB&T is such a rip off bank. My Mom who is 87 and I received our foreclosure papers last week on our little two bedroom, two bath home here in North Carolina.
I got laid off from my job about a year ago and we are behind in our mortgage payments. We have worked through a credit councilor who has filed and filed with BB&T for the presidents mortgage reduction program and BB&T keeps refusing for all kinds of BS reasons. Every time, it's something different.
We aren't asking them to forgive the loan, just reduce the payment for a while. Until now, we have always been up to date on our payments. NEVER one day late. Plus, my family has done lots of business with BB&T over the years and always payed our debts until now when we are having a problem.

We have a mortgage with them on a house my husband built as a model (he is a contractor). The mortgage is at 8.75% and when the bottom fell out of the housing industry, we contacted them and asked if we could refinance at a lower rate (they were around 4.25%). They said “we don’t do that for business customers”. We attempted to sell (impossible!), found a renter (which left us without a model) and held on hoping things would turn around. We went back to the bank six months ago and they agreed “to take a look at it”, asked for new tax returns, financial statements, etc. We told them we could not continue to make the payments, and talked with their collections department in North Carolina who told us to make payments of $50 per week until they made a decision. Okay – so we did that. They told us to bring the mortgage current and they would refinance; we did which they first applied to “late fees”, then applied to interest, then principal. That, of course, didn’t bring it current because of the “penalty” charges. We kept calling and asking if they had made a decision; they said “we’re looking at it and we’ll get back to you.”
Fast forward to December, 2009. We received a call from our branch manager who left a message on our telephone answering machine stating they were willing to do the refinance BUT would require we pay $25, 000 in penalties, principal and interest before they would do the refinance because it had taken so long. What, are you crazy? Yesterday we received a letter from an attorney stating the bank was foreclosing.
If they had refinanced, the rental payment would have covered the mortgage and we would not be faced with bankruptcy. My husband is in his late 60’s, has been in this business his entire life, and has never dealt with such greed and unwillingness to assist a customer.

I cannot say that BB&T has mistreated my family or me but I haven't tried to borrow money from them. If it helps anyone to know this and understand their mind set? A required reading for all upper management level employees is, Atlas Shrugged by Ayn Rand. This novel is very interesting and some believe it parallels some of the movement being made by our government, today. This philosophy of BB&T's reflects Ayn Rand's suggestions of what might happen if our society changes financially. BB&T were one of the few who tried to refuse the "bailout" money and were one of the first to pay it back. I'm sure they have many areas to improve for example, I tried to buy a foreclosure from them but my paperwork sat on so many desks for such a long time that I just gave up and looked elsewhere for property...they do work at a snails pace! I think BB&T would ask you...If you don't believe our current society and system has worked well for most clean-living, hardworking people, look elsewhere in the world for comparison. With all our flaws, our system is still the best in the world and those who produce and are innovative are currently being taxed, shamed, corrected, and herded into submission by an increasingly socialistic/fascist/collectivist mind set. This mind set REQUIRES the clean-living, hard working innovators for the taxes for its myriad "programs" that carry all kinds of moral hazards for the masses (to work less and party more, for example because their needs and wants will be "provided for" by the ever-larger government). WHAT IF...our strong and productive INDIVIDUALS were to take their skills and ideas elsewhere and build a new society for just themselves and their families? In this age where doing the right things, working hard, risking much to start a business and make those payments are increasingly "penalized", it is NOT hard to see why there is such renewed popularity for Ayn Rand's works, esp. Atlas Shrugged. As my students would..."I'm just sayin'" it's no wonder they have such an aggressive attitude. Thank you MM Siegfried for your contribution to my statement...your words have helped me make my statement here.

Sorry, I did get carried away but sometimes we just get caught in a bad situation and expect a corporation to have the same compassion that an individual would have but they won't. They see their bottom line...not the customers'. That's how most businesses are run. WHAT IF...the strong and productive individuals SHRUGGED? Where would that leave us? Where would that leave them?

BB&T sucks. They wouldn't even talk to me about catching up 2 payments to save our property. Bad times hit hard here. BB&T's Andy Cobb in the Forest City area was a cold person when we tried to catch our payments up. We had a loan of 240, 000.00 on our housing development and was less than 2 months behind. Tax value on this property is over a million dollars. Their actions are unethicial to say the least. They wanted to forclose so they could sell this loan. Nobody out there to help us keep our land from being stolen from us. Andy Cobb...You are worthless. BB&T should be ashamed of their business of ripping people off. They look at their bottom line and do not care how it hurts their customers. My advice is to stay away from this bank.

We have worked with BB&T to try and catch up payments (2 behind)! No LUCK! We had been behind 1 month to begin with in August of 2010. Worked and worked to try and pay it back! Finally applied for the "Making Homes Affordable" program which has been an utter nightmare! Turned in all types of financial documents while waiting on a promotion, we made smaller adjusted by the bank payments for 3 months. We were told initially that after that 3 months our documents would be re-evaluated with my new pay and at the end of that 3 months I was told in a very unprofessional manner that "it just wouldn't work out" Gloria Smith at the Greenville, NC office was extremely rude, condescending and finished off that conversation with "you need to calm down, I didn't make you 3 months behind on your mortgage" When in fact because of those reduced payments is exactly what happened. She spoke to my husband that same day and told him " your wife needs to calm down, I feel sorry for you" She instructed him to turn in another set of paperwork for that program. I turned in all needed items by March 1, and have been told for 2 months that it was being reviewed for completeness! We got our foreclosure letter today and to be quite honest after the nightmare we have experienced with BB&T trying to get back on top of things we are really kind of relieved! I don't know that many people feel the same way when they are getting ready to lose their house but that's really how we feel at this point. Have already found an apartment that is going to be much more affordable. Foreclosure=7 years crappy credit. Peace of mind= PRICELESS! BB&T as a corporation has not been helpful with this matter, one nod though to the ladies at the local branch who will offer their help and understanding!

BB&T rushed into foreclosing our commercial condos in 2009,
Sold it at 50% of its value and coming after with deficiency judgments.
I think they received federal money to help them during financial crisis and
they are in the business of taking over their customer's properties at a foreclosed price for
profits.
I wished federal government helped us directly and let BB&T go bankrupted at
time of their needs.
So wrong!
Never will do business with BB&T and hope soon, they will go bankrupted.