Consumer complaint received 2023-10-09
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Struggling to pay mortgage
Sub-issue: Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure

Complaint:
I am notifying the CFPB because it is being discovered that there is XXXX fraud, negligence and corruption. There is evidence from Bank of America Home Loans that the loan was indeed paid in full and satisfied on XX/XX/XXXX. We obtained that proof and evidence through a third-party authorization form, that Bank of America Home Loans requested from us as the third-party purchaser. Bank of America Home Loan took 90 days to research and indeed determined that it was paid in full in XXXX. A request for assignment on XX/XX/XXXX from HUD to Bank of America Home Loans, was granted by HUD and Bank of America Home Loan recorded a satisfaction on XX/XX/XXXX. 


Recently, Bank of America Home Loans rescinded the satisfaction and now hired attorneys for HUD to proceed with taking the property away from us. In researching it seems Bank of America Home Loan is assisting HUD by falsely stating that the loan is still outstanding. We have requested repeatly to provide a loan payment history from Bank of America Home Loans in which they have NEVER provided one. HUD is now being represented from attorney Bank of America Home Loans has on retainer to help decieve the system by making false claims it was in error. When indeed there was not error, Bank of America Home Loans determined the loan was paid off. 


Futhermore, the borrower deceased on XX/XX/XXXX ; under the rules/guidelines the foreclosure process should have taken place in six month ( 180 days ) and Bank of America Home Loans never proceeded because the loan was paid in full in XX/XX/XXXX. Not to mention there is no evidence or proof from Bank of America Home Loans that they complied with the rules and regulations of the XXXX either they are negligent and fraudulent or truthful and honest that the loan was paid and satisfied in full in XX/XX/XXXX. 


Per the CFPB and HUD rules and regulations - Reverse mortgage : Know your rights and responsibilities Borrower Death Certificate ( XXXX XXXX XXXX ) : 1. XXXX XXXX XXXXXXXX XXXX deceased on XX/XX/XXXX XXXX. For reverse mortgages originated before XX/XX/XXXX, As explained in more detail below, after you, the borrower, move into a healthcare facility for more than more than 12 consecutive months or pass away, your lender or servicer can choose to either : Foreclose on the home, Borrowers Purported Will : XXXX. XXXX XXXX Case Number : XXXX XXXX XXXX XXXX XXXX No co-borrower and no non-borrowing spouse : XXXX. Loan origination documents show evidence there were no co-borrower and non-borrowing spouse. 

XXXX. Borrower deceased on XX/XX/XXXX no one left to claim the monthly XXXX payments. 

XXXX. Were payments made to the deceased borrower after XX/XX/XXXX? 

XXXX. For reverse mortgages originated before XX/XX/XXXX, As explained in more detail below, after you, the borrower, move into a healthcare facility for more than more than 12 consecutive months or pass away, your lender or servicer can choose to either : Foreclose on the home, Payment History : 1. Bank of America Home Loans and/or HUD to provide proof of payments on XXXX? 

XXXX. When was the last payment to XXXX XXXX XXXX from the XXXX? 

3. Bank of America Home Loans and HUD committed negligence because they did not foreclose on the property within six months ( 180 days ) after deceased borrower?

Annual Occupancy Certification : 1. Did Bank of America Home Loans and/or HUD certify each year that the borrower occupied the property as their primary residence? 

2. Why didnt Bank of America Home Loans or HUD proceed with a foreclousre if the borrower deceased on XX/XX/XXXX? 


Property Charges : 1. Who paid the property taxes for XXXX? If the borrower died on XX/XX/XXXX. 

XXXX Who paid for the insurance premiums ( e.g., flood insurance )? Borrower died on XX/XX/XXXX. 

XXXX. Why didnt Bank of America Home Loans or HUD pay the homeowners association fees? Borrower deceased on XX/XX/XXXX. 


Default or foreclosure notices : XXXX. Where is proof that Bank of America Home Loans and/or HUD sent out notices after the borrower deceased on XX/XX/XXXX? 

XXXX. Foreclosure must have taken place within six months ( 180 days ) after deceased, no later than by XX/XX/XXXX? 


Property sold by XXXX XXXX Foreclosure : XXXX. Proceeds from the surplus was not used by heir ( s ) to pay off or portion of the outstanding balance to HUD? Heir ( s ) collected suplus funds. 

XXXX. Why didnt Bank of America Home Loans or HUD intercept the surplus prior to heir ( s ) claiming it? 

XXXX. If you have heirs - If your heirs want to keep your home after you and your spouse pass away, they will have to repay either the full loan balance or XXXX percent of the homes appraised value whichever is less. 

XXXX. Whose negligence contributed to this fraud XXXX and/or HUD? 


Sale of Property ( Date of Case Number Assignment Prior to XX/XX/XXXX ( See XXXX  XXXX XXXX and XXXX ) : The property securing the XXXX may be sold by the borrowers estate and/or heirs ( regardless of the presence of any non-borrowing spouse ) for the lesser of the unpaid balance or XXXX percent of the propertys appraised value. 

XXXX. Loan Originated in XXXX per XXXX and HUD. 


FHAs COVID-19 Forbearance : 1. Deceased borrower can not obtain any relief because she deceased on XX/XX/XXXX, no co-borrower or non-borrowing spouse. 

CFPB please helps us find the corruption, fraud, negligence and deceit Bank of America Home Loans is committing by falsely denying the truth that the loan was paid in full and it was no error!

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