Consumer complaint received 2016-12-07
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
To Whom It May Concern, XXXX of 2016 I changed home owners insurance from XXXX XXXX to XXXX for a lower premium. Since this time there has been a nightmare of many errors from Bank of America to my mortgage account because someone initially assumed the insurance was to be paid quarterly instead of annually. 

Because of this error I first received information from Bank of America stating that I did not have homeowners insurance. I called them and was told from Bank of America that they did not receive a declaration page from XXXX, and that they only received the binder, and that the binder did not clarify if the payment should be quarterly or annually. However, I was e-mailed a copy of the declaration page and the binder from XXXX when I changed my home owners insurance with them. I then contacted XXXX and they sent another declaration page to Bank of America. 

In XXXX I received another statement from Bank of America stating that my XXXX payment was going to change from {$990.00} to {$1300.00}. When I again called in XXXX to find out why, I was told that the {$1300.00} was an error, that I did not have to pay {$1300.00}, that my XXXX payment would be {$990.00}, and a new XXXX payment would be {$970.00}, and that because of the errors from Bank of America, that I would receive a check for {$380.00}. Thinking that this was strange, I questioned the representative several times about this money that she claimed was free and clear. 

Thinking again that all was well, I sent over my payment via wire transfer for {$990.00}, and after cashing the check from Bank of America for {$380.00}, I found out that my checking account was {$340.00} OVERDRAWN. This horrified me because this checking account is only used to wire transfer my monthly mortgage payment which is withdrawn from the mortgage department on the XXXX and the XXXX of the month. 

Again I contacted the bank who told me that an analysis was done on my account because of the initial mistake of the quarterly vs the annual payment of someone sending over to XXXX since they originally thought that the account was paid quarterly. I was also told that the {$380.00} was sent back from XXXX, and this was the extra money that I was told twice that belonged to me free and clear. 

Again I contacted Bank of America only to find out that they were standing behind all of these errors, and blaming me for cashing the free and clear check of {$380.00} that was sent to me, and the reason for the checking account shortage was because I owed the {$1300.00} for XXXX payment which ( Which I was told that I did not owe ) caused an overdraft of {$340.00} in my checking account when I sent in XXXX 's payment of {$990.00}. They paid the difference of the {$1300.00} and they charged me thus creating overdraft fees. 

Now I am stuck trying to pay the overdraft of {$340.00} before I am charged another {$35.00} overdrawn fee, and have to also pay my mortgage on time. I receive XXXX income of {$1400.00} monthly which is my only income. 

What has been done to me is a shame and I am appealing to you for help. Until I changed homeowners insurance, there was never a problem with my mortgage. I have paid my mortgage payments on time for eight years. 

I want Bank of America to take back the overdraft which they caused of {$340.00}, as well as all of the overdraft fees! I want to be treated fairly because this is not fair. I should not have to pay for their mistakes. This stress has affected my health!! 

Please look into this matter and help my situation. 
Thank You, 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 monetary relief