Regions Bank

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Run away from Regions Bank, Pine/Pasco - Mitchell Plaza Branch. Huge hidden Home Equity Line-of-Credit bank fees. The loan officer, Robin, and put me into a Home Equity Line-of-Credit with an $1852 termination fee even though she knew he were only going to keep the loan for a year or so. Robin told me it was totally free except for a small fee ($50 or $100) if I didn't use the account for a year. She knew this was a short-term loan to carry me over if there was a delay selling my residence. A few months after getting the line-of-credit I signed a contract to start building my new house and a year later I sold my current residence. When my closing company requested a pay-off balance I realized there was a termination fee of $1852. Robin had never told me about the fee. There is some unclear, confusing wording in the contract regarding the fee. However, I didn't notice the fee in the contract because at closing I was distracted by the personal conversation between Robin, my wife, and I. Besides the fact that she didn't tell me about the fee, I also disagree with the fee because I don't believe the wording regarding the fee is clear. They should have told me and/or clearly put in the contract that I would be charged $1852, if I sold my house in less than 24 months. If they would have done that, I would not have got the loan. I already had a free line-of-credit and I was not desperate to obtain additional financing. There was be no reason for me to take out a line-of-credit with such a high fee. I ended up having the account for over a year. If I hadn't sold my house, they would have had to maintain my account and send me monthly statements at their expense. I was under no obligation to maintain a certain balance. I could have had $100 balance and paid $5 in interest in the last year and there wouldn't have been any fee.

They also have large termination fees on CDs. Save your self some money and stay away from this bank.