Consumer complaint received 2017-08-27
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
This all started back inXX/XX/XXXX. My wife and i decided to relocate from one state to another. Sell the house we lived it and buy one in the state which we relocated to. We applied for a loan with then CountryWide now Bank of America, We filled out an application via telephone sent in all paperwork they asked and thought that everything was going to go along without a hitch. Out comes the demand from the lender that we sell the home that we were living in before we were able to receive a loan from them! They made us sign a Addendum that we sell our home before the closing on the one we were relocating too. We abided by their request and sold our house weeks before we closed on the home we are now residing in. But the lender added something on the application that we were not aware of until our rate started to rise to almost 10 %. It never dawned on us that we were put in an unlawful situation because we were doing everything that they had asked of us and more including a 20 % down payment in a house that was on the market for {$180.00} thousand dollars. At that time we seen nothing wrong with nothing because we sold our home for over {$400.00} thousand dollars. CountryWide had marked and X in the box that said the house was going to be a second home or vacation house. That was not true and they knew it was n't because we could n't afford to pay for 2 houses at the same time. At that time our credit or salaries could n't match the terms for 2 homes. InXX/XX/XXXX we filed a complaint against CountryWide who then had become Bank of America. with Hud who turned the complaint over to OCC. Needless to say after reviewing all of our documents OCC still decided that since we signed the paperwork which we would not have knowingly have done and the fact that BOA denied everything that we alleged even denied that they had an Addendum on file. We could not afford a lawyer so we did n't know what to do and was forced to let their decision stand. EnterXX/XX/XXXX we were going to begin to have problems paying our mortgage at which time we decided to ask for a loan modification this was in XX/XX/XXXXXXXX they said it would take 45 to 60 days to complete. We knew it was about right because we had done this process before. Well it took them over 14 months to complete this modification after transferring our service to one of their umbrella companies called XXXX. inXX/XX/XXXX. I received a letter from them stating that they were going to be our new servicer. After calling BOA time after time trying to see what was taking so long to get our modification done BOA informed us that our paperwork would be transferred to XXXX. after waiting another 2 months and many calls XXXX decided that we had to fill out another set of papers because BOA did not send the modification papers to them. this was in XX/XX/XXXX. The whole time our Principle was steady rising. After another 3 months finally they sent us paperwork -to start 3 trail payments this started in XX/XX/XXXXXXXX after paying them the 3 payments which ended in XX/XX/XXXX they said that the modification would still take another 45 days to be ready. Needless to say it did n't happen until XXXX of this year! I then called Hud and they said that the bank had been breaking the law of by making consumers wait so that they could drive up the principles and charge more late fees. Hud told me that the state AG 's were taking over that cases and referred us to our AG which is now we are awaiting to hear from. I am appealing to you to force this company to pay for damages they have caused my family. I was made aware that they have had to pay Billions of dollars for fraudulent loans to minorities which my wife and i could not benefit from because the type of loan they had us stuck in. At first i thought it was a big mistake on their part but after inquiring about it they never tried to fix it and denied any wrong doing led me to believe that this was intentionally done and they had no intent to fix things with us. I have all documents needed and lots of witnesses that shows we sold the home we lived in XXXX before we brought the home in XXXX 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