Consumer complaint received 2020-05-06
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage

Complaint:
The reason for my inquiry/complaint is very complicated but I will briefly describe it in hopes you can shed some light and potentially assist me in this matter. 

My wife was a XXXX  % XXXX veteran that passed away recently from a lengthy nine-year bout with XXXX. She was a XXXX XXXX XXXX XXXX XXXX. ) rank, in which she directly was responsible for XXXX XXXX and XXXX. In XXXX of XXXX she was forced to retire since her health no longer allowed her to be XXXX. Her illness greatly affected all of her XXXX XXXX, including her XXXX, as the XXXX XXXX the XXXX  in the later stages of the illness. However, this condition did not affect her cognitive  ability and she remained mentally active and continued to handle the household finances via electronic means up to the time she passed away. 

My wife and I purchased a home in XXXX in which Bank of America ( BOA ) eventually became the holder of the primary mortgage. In XXXX we took out a line of credit on our home and then in XXXX we paid off the account with a HELOC through XXXX XXXX XXXX  ( XXXX ) which has since been acquired by XXXX XXXX. 

In XXXX we purchased a different home in our area that I could modify to meet her physical needs. Our previous home did not facilitate her evolving needs as the disease progressed. 

Due to the difficulty, we moved only essential items from our home of 27 years and I did not immediately empty the contents or list it for sale. Due to increasing support requirements for her health needs I could not finish moving at the time. Since she has passed away, I listed the home for sale by owner and have located a buyer and am currently under contract. I have not been able to close the sale due to a 3rd lien on the home that I have no prior knowledge of. BOA claimed that my wife had completed transactions on the account after we had paid off the account in XX/XX/XXXX. This information did not come to my attention until the title search was underway through the closing attorney. 

Over the last month of my continued inquiries, BOA has only supplied me with a Transaction History of the account with no supporting documentation. I have been told multiple contradictory statements verbally from a local branch office that has made repeated phone calls to various BOA departments during my inquiry. This situation has yet to be resolved despite every effort on my part. Including the documentation provided by XXXX XXXX from XXXX archives concerning the BOA payoff. 

I am further concerned that in reviewing the BOA provided Transaction History I discovered a discrepancy that reveals BOA was provided funds in excess of the total payoff amount. The excess that BOA was paid, in the amount of {$220.00}, is listed as interest owed to them on the very next transaction. Additionally, this statement history only has my wifes name listed on the document even though initially it was in both of our names. BOA ascertains that a series of transactions were completed through this account electronically by my wife. I have no knowledge of these transactions and have been provided no documentation that there is any legitimacy to their claims. 

The resulting issue is that BOA insists that a sum of approximately {$59000.00} is owed to them and that the lien will not be released until they are paid. This has resulted in a tremendous delay in closing the sale of this house and now resulted in a great financial strain on my behalf. 

I feel as though I am a victim of false accounting, that loans have possibly been granted without necessary paperwork and that I have exhausted all resources available to me to resolve this matter. Therefore, I am reaching out to your agency in hopes that an accurate accounting of this matter may take place. Thanks in advance for your assistance in this matter.

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