I have had several accounts with SunTrust for over 10 years, and maintained all in good standing. When four adjustable mortgages came due, SunTrust’s demands were unreasonable and impossible for me or anyone else to meet. My intentions were to pay off the loans which took a long time because no banks are lending and SunTrust lost my file for four months. Once I secured other financing and SunTrust had a commitment letter from another bank, they initiated foreclosure process, notifying all of my tenants. Three loans have now been paid off and the fourth loan I am working on. This is a very bad time to call loans due and foreclose on customers that have been current, never late or missed a payment. DON’T TRUST SUNTRUST
I feel they are practicing unfair trade and their negotiations were closer to blackmail than to negotiate in good faith. When I did not agree with their terms they raised my interest rates to 18%, which I have paid, plus the extra $8,000 in attorney fees.
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