Consumer complaint received 2023-11-14
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage
Sub-issue: An existing modification, forbearance plan, short sale, or other loss mitigation relief

Complaint:
In XXXX of XXXX, my business got affected due to XXXX losing my household income. To meet my mortgage obligations, I used my savings to continue to pay my mortgage payments. Furthermore, in XX/XX/2020, I encountered a medical condition and became XXXX. 

When I explained my situation to Bank of America, hereafter known as BOA, they offered to defer my mortgage payments for up to XXXX months, which I accepted. After the deferral period was over and still during the pandemic, I received a letter from BOA offering mortgage assistance program which could lower my XXXX mortgage payments if I apply for the program. I called the BOA and the agent on the phone explained how the process works and what documents they need to support my application. I immediately agreed to apply and to be reviewed for the program due to my sensitive financial status. After submitting my application and requested documents repeatedly for XXXX months, BOA denied my application. 

In the denial letter BOA stated that they were pleased to offer me a short sale program. 
I contacted BOA and spoke with XXXX agents on XXXX occasions asking the reason for the denial and pointing out that short sale can not be a right program for me, but they all referred to the denial letter since they couldnt explain me how a property with equity can be eligible for short sale. As a matter of the fact some of the agents expressed their sympathy and made notes in their system about this nonsense decision. Having realized that denials were in error, the agents asked me to re-apply for reconsideration, which I did, thus ; every XXXX weeks I was submitting supporting documents and letter of explanation but still BOA rejected my application and sent me the same denial letter as before and offering short sale. I contacted BOA and complained about their decision, and they asked me to apply again for re-consideration, which I did but still the same result. This process repeated XXXX times over the last XXXX years. 

This act of BOA by dragging my application, eliminated any opportunity that I had to refinance my mortgage to a that time market interest rate as low as XXXX XXXX. 

Now, after exhausting all my savings to continue to meet my financial obligations and maintain my hard-earned XXXX XXXX which has taken me over XXXX years to build, Im now reaching out to you asking for your help. 
I dont want to lose my house therefore, out of sheer frustration, I am writing to your office to request an investigation regarding my mortgage assistance application with BOA. I am hopeful that your assistance on this matter will expedite some type of mortgage assistance with BOA to help me to keep my house. 

Property Address : XXXX XXXXXXXX XXXX XXXX XXXX  XXXX Bank of America XXXX Mortgage XXXX # : XXXX Thank you in advance, Sincerely, XXXX 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 non-monetary relief