Consumer complaint received 2023-11-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: IL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage
Sub-issue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu

Complaint:
I have gone through the loan modification process two times, both denied as I was not delinquent. I have been a great XXXX year customer with never a late payment. First time ( XXXX XXXX ), I requested due to ARM rate increase tripling my monthly mortgage. I was unable to refinance for the higher rate. Six months later, after countless documents back and forth ( and lost on bank 's end and conflicting information requested ), I was offerred a short sale! After all this time, I told them I want to remain in the home, just can't sustain tripling my monthly payment. I paid everything on time, except not my other bills. 
Second time ( XXXX XXXX ), I requested same process as I lost my job of 11 years without notice and no severance. Application back and forth, denied again for a rate adjustment or delay, was offerred a short sale again! Reason being I am not deliquent! And on top of that, XXXX XXXX, my ARM rate goes up again, further increasing my monthly commitment. 
Are they telling me I will onlly get help if I stop making payments? What's the point of being a good customer that follows the rules ... ... here it is, 2 months later and I have no job prospects at all even though I am desperately trying. With all the time I have, I'm now going to every agency I can find to complain about this bank, as they're simply too big to care. 
And all this time, everything had to be done via printed paper and XXXX or fax. In many cases, I had to print XXXX 's of pages, some of which their office would claim not all received. One week I was told I had to pay to XXXX, so I did. Another week, someone else told me they will send a XXXX label. Every week something different. I asked them to work on why their borrower home loan help portal would not work for me. They told XXXX they're working on it, but months later, nothing. So the process was slow, conflicting, and cumbersome with rushing to fax at a local branch, or print XXXX pf pages instead of uploading to a private portal. And every week, it was a new agent with whom I spoke, who was reading notes from an underwriter. Too many people involved, each not understanding the other. 
One other point, their drive-by property appraiser used submitted appraised value of properties in building at half the square footage. No one does comps like that. I was told by the bank to contact yet another department ( about errors ) and again, at my expense as the communication can only be via paper mail. I submitted that information about the incorrect appraiser methods ( who uses comps that are half the size! ) two months ago but no response from the bank ( or appraiser to whom I also wrote ).

As soon as things improve, I get a job, and maybe rates stabilize/go down, I will move my funds ( and that of my co-borrower who has XXXX and not ever paid towards mortgage, only used his investments with investment company partner with bank, all of it will be moved away. 
The more people I can tell, the better. My realtor friends and other friends already all talk about this bank 's lack of caring, with some realtors refusing to work with this bank.

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