Consumer complaint received 2017-11-27
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage

Complaint:
XX/XX/XXXX -Since XX/XX/XXXX when the market crashed and BofA XXXX our hard earned taxpaying dollars as a bailout, my many attempts to modify, refinance, anything that would help lower my interest rate on my second, a very upside down FL property with a 9.5 % interest were refused by BofA. 
I have been unemployed since XX/XX/XXXX and in XX/XX/XXXX could no longer afford my payments and have asked for a short sale and BofA has blocked this process. My realtor has had a purchase offer since XX/XX/XXXX and we are now in XX/XX/XXXX. My realtor has tried to speak with BofA multiple times to obtain necessary information to complete the short sale process to no avail. BofA has received multiple times a third party authorization form, the excuse they have provided for not speaking with my realtor. This form was submitted not only by me but also from my local branch operations manager who was just as dumbfounded that the original document sent and verified by her was not sufficient for the process. I asked for her assistance. She too spoke to the BofA loss mitigation dept. and they asked that she verify me which included supplying my drivers license, not the fact that I am a regular known customer at the branch which is verification as well. The third party authorization doc was asked to be signed personally by the operations manager and include the wording that she had verified me. This verified doc was then faxed from the branch to the number supplied by the loss mitigation representative. BofA loss mitigation still refused to speak to my authorized third party realtor. 
XXXX XXXX XXXX hired by the first lien holder, XXXX XXXX XXXX XXXX, not BofA, on XX/XX/XXXX ( months later ) indicated that the equator system was the method necessary for the short sale process of the second lien holder. XXXX XXXX XXXX had been in touch with my realtor several times prior and did not disclose this information either until XX/XX/XXXX. 
On XX/XX/XXXX I spoke with the BofA after a failed attempt with equator prompted my realtor to inform me I have to speak with a Customer Relationship Manager. When attempting to speak with this dept on XX/XX/XXXX, they indicated they must inform me they had sent out a notice of intent to accelerate in XX/XX/XXXX which had a deadline of XX/XX/XXXX - this letter was never received. Why would such an important document not be sent with a signature request to be sure the customer is receiving such pertinent information? A customer relationship manager was not available to speak with and I had to call back yet again. 
Why did neither BofA nor XXXX XXXX simply inform my realtor that equator was the necessary avenue of  communication for the short sale process back in XX/XX/XXXX and since? 
The lack of professionalism and the lack of communication is absolutely pathetic with both parties. 
BoA finally indicated/admitted in a phone conversation, XX/XX/XXXX that equator was the method necessary but only after I informed the rep it was suggested to file a complaint at the Consumer Financial Protection Bureau. The BofA customer relationship manager XX/XX/XXXX also indicated had this process been completed prior to XX/XX/XXXX a modification process was not necessary but must now be completed in order to move forward. What? Are you kidding me? BofA deliberately refuses to speak with the authorized third party since XX/XX/XXXX to inform the realtor that equator was the means of communication and I now need to endure a modification for a second lien holder? The rep indicated she would escalate this matter to a manager who has yet to call. 
These banks refuse to adhere to XXXX XXXX guidelines and this has gone on too long. Please, your assistance is requested to help me to move this along. 
XXXX XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation