Consumer complaint received 2016-12-02
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
Dear Sirs, This is XXXX, I am writing in about a SERIOUS ISSUE that I have with Bank of America and is still going on for over 3 months now. This problem is concerning my mortgage line of credit. 
This whole situation started around the XX/XX/XXXX. I had a phone call regarding the line of credit division from the Bank of America. It was a lady who proceed to advise me that my loan was getting ready to change. 
She told me my monthly payments will be going up and I asked why and she replied your loan is over we do n't do any more interest only loans, and are you going to be able to make your new payment? 
I asked her what the payments would be going up to and, she said, I do n't know at the moment .. and I said well I guess I will have to get a new loan, and she said ... '' I WOULD NOT DO THAT, YOU HAVE A GREAT INTEREST RATE '' ... .So I really do n't know what to do .. So on the XXXX, I went to make my payment my normal payment of XXXX.that I had been making for many years on the XXXX and XXXX day of each month on online banking. To my surprise my payment went from {$350.00} TO a Quadrupled AMOUNT OF {$1500.00} I immediately took action, called into the line of credit division for Bank of America and spoke to a few representatives there and ask them what happened why in the world has happened with BOA, why they had converted my -interest only loan to a 10 year note. 
I explained to the representative that this is ridiculous, and no way I was going to be able to afford a payment of this magnitude, and she directed me to another lady, told me somebody would be in touch with me to help me with this matter in a few days.. 
And she said if they do n't get in touch with you in a few days you called back in ... 
I really was Furious about this entire situation all the way back to then I did not understand it and did n't understand why I had to call back in. So. After two weeks go by, I did n't hear anything. from anyone I called back in and I 'm PROACTIVE AGAIN. again trying to reach someone in the advocate team TO HELP ME!!!!!!!!!!! 
Not at one time did anyone give me a direct person of contact or email, or direct line of contact to resolve this situation ... 
As a corporate executive myself ; I find this absolutely Preposterous and incredibly unprofessional the fact that I am not dealing with one person with any contact information, no telephone number or an email to go back and forth to resolve this matter. 
All during this time I went back and I emailed a lady name XXXX that I had saved her email address from 2 years ago. 
So now it 's time for my normal payment In XXXX, no one has reached out to me finally on XX/XX/XXXX I received a call from a gentleman named ... XXXX 
He said he was from the Collections Department of Bank of America. I explain to this gentleman what it happened, AND HE ADVISED ME TO CONTINUE MAKING, MY PAYMENT OF {$350.00}, ... .EACH MONTH. BOA. 
After several phone calls, emails and spending hours away from my work trying to resolve this matter, I got to realize while I am seeking for a new loan, that my credit score decrease from 741 to 600. 
I 'm working on a new loan to get Bank of America paid off and move on so XX/XX/XXXX I am almost ready to close on my new lawn when I get a surprising phone call from the mortgage company I 'm dealing with that they have checked my credit and Bank of America has put a late payment on my credit report and now my credit has dropped from 741 down to below 600. Now BLOCKING ME from getting a new loan and DESTROYING MY CREDIT..!! 
BOA put on my credit report late payment charges for the line of credit I have been paying for years. I will appreciate if someone please call me because it is a long problem and I can explain it over the phone XXXX my name is 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