Consumer complaint received 2020-05-08
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: SC
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage

Complaint:
XXXX XXXX XXXX ( XXXX ) assumed my home equity loan from Bank of America in XX/XX/XXXX. I received no written notification that this had occurred, which from what I have read is required by law at least 15 days prior to my loan being sold. I applied for a new loan with XXXX XXXX  in XXXX to pay off this loan after reading the reviews of XXXX. I was to sign the papers for this loan today ( XX/XX/XXXX ). However, I received a phone call from an officer at XXXX XXXX  facilitating my loan today in which he stated XXXX had filed an additional complaint to the credit reporting agencies, today, saying I was 120 days delinquent. I didn't find out until XXXX Bank of America had sold my loan when I went in and spoke to an officer and was informed by him that that was what happened. I was told by him they had mailed a notification of this to the address I lived at when I took out the loan. I haven't lived there for 12 years and they have all my current address and telephone information because I still bank with them. So is Bank of America 's incompetence my fault? 

I didn't make payments from XXXX to XXXX because I had no idea where to make a payment. Yes, I should have gone to Bank of America when that loan disappeared from my accounts. My bad. However, XXXX during that time period made no attempt to contact me and they can't say they couldn't get my current address and phone number from Bank of America. There are no other companies - mobile phone, power, water, etc ... that wouldn't notify you if you were past due on a bill after a month. This was done deliberately by them, of this I have no doubt, in the hopes they would be able to foreclose on my house. 

As soon as I did contact XXXX I brought my account up to date. They then told me my XXXX payment was for the amount of {$740.00}. My loan was converted to a fixed rate option in XX/XX/XXXX. My payments are {$460.00} per month. By telling me that's what my payment was they committed fraud. A lawyer told me they can't increase my payments and I pay my taxes and insurance myself. As I far as I'm concerned they owe me {$280.00}. And I was told by representative of XXXX that my XXXX payment and all after were going to increase to approximately {$810.00} no explanation as to why. 

I want the 120 day delinquency removed from my credit report because they broke the law by not sending me written notification, to my current address, that they had assumed my loan in XX/XX/XXXX. I want this done so I can secure a new loan with an honest bank in order to pay them off and get out from being under them. I had never missed a payment until they took this over and I wouldn't have if I had known who to whom to make a payment. XXXX is company run by low lifes who profit off other peoples misery ( please read the reviews online, that is if you have a strong stomach ). Hence, the over 600 complaints to the XXXX XXXX XXXX  in one year and over 2,000 to the CFPB. XXXX XXXX XXXX should be the poster child for corporate greed in America.

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 non-monetary relief