Consumer complaint received 2016-10-31
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
When I lost my job in 2010 during the recession, I contacted Bank of America to see if they could work something out to lower my monthly payments. I did not want to risk not being able to make full payments and ruin my perfect credit due to the reduction in income. The representatives said there was nothing they could due because my account was current and they did not have any programs for which I was eligible. I continued to make timely payments for as long as I could, but one month I was n't going to be able to make a payment at all. I had worked on a project and was expecting a large sum of money but I did n't know exactly when the payment would come. I called to tell them but they gave the same response. After falling behind that month, they then advised me to apply for a modification. I applied for the modification and they said it would take about 30-60 days to complete the process. In the meantime, money from my project came in and I was able to pay myself current on the loan. I contacted BOA to tell them that I wanted to pay my loan current but they said that they could not accept a payment and that I should wait for the modification to go through. Then the robo calls started. The scenario consisted of an auto call, then a rep got on the line saying they were contacting me to see if i could make a payment. I would tell them that I could ; then they would transfer me to another department. That rep would then say they could not take a payment. This harassment went on for well over a year. They would call 5-6 times daily, pretending to be collecting a payment. When asked about the modification, they would say it was still pending. Yet, they started foreclosure proceedings event though the " modification '' was still pending. In desperation, I contacted an outside non profit. Through their assistance the foreclosure proceedings were stopped within 15 days of sale of my property. Then the modification finally came through, but the mortgage payments were even higher than they were initially. It was a complete nightmare. 
BOA sent me a check for {$500.00}. It said " settlement '', but there was no explanation nor admission of wrong doing included with the check. I was only recently made aware of the damage they have done to my credit with this situation. Then I did an internet search and ran across an article that reported what BOA had done to thousands of its customers in an attempt to force us into foreclosure by rejecting or delaying modifications. I did n't know about the lawsuit at the time or that they were doing this to thousands of customers. I just cashed the check and went on with my life. They were sued and sent us these measly settlement checks. Yet they have not cleared my credit and it is preventing me from moving forward with my life. I have contacted the reporting agencies and they say BOA responded that their reporting is accurate when in fact it is not.

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