Consumer complaint received 2016-12-02
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AZ
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
I am XXXX, XXXX, XXXX in Operating Room. I have been employed at XXXX since XXXX. I 'm a native of Arizona and moved to XXXX AZ in XXXX. I have been a XXXX for 23 years. 
In XX/XX/XXXX, XXXX ( my husband at the time ) and I applied to re-finance our current sub-prime home loan for our property located at XXXX, AZ XXXX. During the re-finance process, we were told by XXXX Mortgage that they would n't be able to approve the loan with my name on it, due to the decrease in my income over the previous year. ( I was on XXXX ). The loan was approved from Countrywide/Bank of America via XXXX Mortgage in XX/XX/XXXX. XXXX was the only name on the loan and note. XXXX and XXXX were both on Deed of Trust. There was no a disclaimer deed. 
I originally purchased this property in XX/XX/XXXX, as my sole and separate property. 

XXXX and XXXX were married XX/XX/XXXX and divorced XX/XX/XXXX. Divorce settlement awarded XXXX home and debt to XXXX. I took Divorce Decree to Bank of America and later to XXXX Mortgage to assume the loan or to have my name added to the loan. Bank of America and XXXX Mortgage would not discuss the loan with me and said that my name was not on the loan and my request was not possible. 
I was making payments on the mortgage during this time period while I was actively seeking assumption of XXXX 's loan, due to the property being under water {$75000.00}. 
I contacted HARP, they were unable to assist me because I was n't on the loan. 
I was unable to remedy or even discuss the loan, yet I received all the penalties as if I was on the loan. 
On numerous occasions I sought XXXX 's assistance with adding my name to his loan. Due to communication break-down, XXXX allowed the home to be foreclosed XX/XX/XXXX. 

The Property was sold by the Trustee at Public Auction on XX/XX/XXXX to the highest bidder, XXXX for {$140000.00} I obtained a pre-approved loan with an interest rate not to exceed 3.25 % from Az XXXX in preparation to purchase aforementioned property. 
While wainting to purchase the property, I fought for the right to rent the property and paid rent to XXXX monthly and on time. 
I also fought to be qualified to purchase the property. 
After the required wait time, I made a full price offer of {$160000.00} to purchase property from XXXX ; and they accepted. 
During escrow on XX/XX/XXXX Az XXXX rescinded approval due to the previous loan foreclosure of XXXX. 
Due to the imminent closing date, I was forced to explore alternate financing. 
I found a private lender with conditions : XXXX to put {$35000.00} down, Max Term of 2 year loan ... 1st year 8 % interest and 2nd year 9 % interest. 
Utilizing XXXX as originator for private lender XXXX. I purchased the property. 
To satisfy the loan condition of {$35000.00} down, I was forced to take {$35000.00} out of my 401k retirement account. 
The 2 Yr Loan was becoming due and payable in XX/XX/XXXX. So, in XX/XX/XXXX, I attempted to obtain a refinance loan for balance of mortgage owed. I applied for a refinance mortgage loan through XXXX, which was declined. XXXX reported that the decline was due to information obtained from XXXX County Recorder 's Office naming XXXX on notice of foreclosure and trustee sale. 
Conclusion : Application made to Country Bank for mortgage refinance. Country Bank was able to offer conventional 3 % interest mortgage loan, once they determined that I was n't responsible for the XXXX loan foreclosure. 

I am seeking the opportunity to recover a small portion of the damages.

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