Consumer complaint received 2015-12-22
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AZ
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
Bank of America loans is committing consumer fraud by selling the loan just acquired on my property during modification. They broke the law by refusing to modify my loan plus conducting dual track with this scheduled sale.They are not following RESPA and HAMP guide lines. Bank of America was close to completing my HAMP modification illegally sold the loan during review. But a year ago they sold the loan to XXXX. Therefore Bank of America is liable for this complaint for breaking the rules of the XXXX XXXX settlement reached with AZ and DOJ. The banks failed to negotiate in " goof faith '' ( a RESPA violation ). I wrote several letters to the bank and still no reply. 
Please reply to this letter and investigate my complaint of Consumer Fraud. Because, in XXXX I was sold a sub-prime mortgage when in fact there was nothing wrong with my credit history and I had never been refused credit before. Country wide included a prepayment penalty in the original loan. 
As stated : My home loan was on track to be modified by bank of America in XXXX before this company began to service the loan in XXXX. Thus, bank of America is also at fault and must be part of this complaint. Per TARP my loan was part of admitted wrongdoing of Country wide and must have been already modified to a lower payment that I can afford on my XXXX salary. In XXXX XXXX XXXX added an additional {$11000.00} on top of the loan they just acquired in a servicing transfer the month before without merit. The debt is valid up to $ XXXX not the $ XXXX they wanted to collect. 
My complaint is valid because XXXX chose not to offer me the sensible repayment or HAMP modification. Based on The guide lines that are not part of XXXX and investor requirements is unlawful in AZ. My debt to income shows in fact that I need credit card to cover my necessary monthly expenses. I should be granted a workout because I 'm beyond qualified to support and not default on a reduced payment. Plus XXXX said I have enough to sustain a " mortgage payment ''. The banks got billions in XXXX funds to help Americans stay in their homes and remedy the bank 's wrong doing dating back to XXXX. Plus they signed and agreed to negotiate in " goof faith '' to end suffering of responsible borrowers like myself. The decision to foreclose is illegal during the holidays with a nation wide moratorium. They 're allegedly breaking the rules of TARP refinancing set by XXXX of the XXXX which are being enforce by the dept of treasury, HUD, and RESPA to name a few responsive agencies. 

As remedy : Postponed the sale as scheduled and offer me an affordable modification per the settlement they signed. I want to keep my home so I can provide for my family as a high school teacher. The property was referred to foreclosure on XXXX XXXX, XXXX. A sale date is currently scheduled for XXXX XXXX, XXXX. Again : pursuant to executed settlement, foreclosure proceedings are not valid during modification. Please encourage your contact at the bank for reinstatement options regarding the loan to prevent the foreclosure sale. 

XXXX 's records indicate a recent complete loan modification request was received and submitted for review on XXXX XXXX, XXXX. 

LOAN BACKGROUND AND STATUS Records reflect the following key events related to the loan : XXXX XXXX, XXXX : The loan originated with a principal balance of {$130000.00} with Countrywide Bank, XXXX. The previous servicer of the loan was Country Wide, N.A. who was in process of modification when they sold the loan to XXXX. a violation of DOJ and XXXX of AZ settlements. 
While in review for XXXX, the property was referred to foreclosure on XXXX XXXX, XXXX. 
A foreclosure sale date is currently scheduled for XXXX XXXX, XXXX. 
Sincerely, XXXX XXXX XXXX XXXX XXXX Cell Phone

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation