Consumer complaint received 2016-01-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NV
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXXXXXXXXXX I am disputing a fraudulent and unethical loan and home modification with Bank of America and XXXX XXXX XXXX. 
I purchased a home in XX/XX/XXXX, which was quickly bought by Countrywide/Bank of America. I was XXXX in XX/XX/XXXX and returned to a bad economy. Under the SCRA ; Bank of America unethically transferred the loan to XXXX XXXX XXXX while undergoing a modification XX/XX/XXXX. XXXX declined the modification in XX/XX/XXXX. Later sent me a letter stating that the HAMP modification was approved but that I had turned it down. I never received a letter stating that a modification was approved - no documentation, phone call, Nothing. I owed XXXX, now with interest I owe XXXX! I did receive XXXX phone calls from one their representative asking me to switch to a different modification which would work better for me because it would forgive part of the principal plus the interest rate. She asked me to apply for Department of Justice and State Attorneys General Global Settlement modification. After that conversation, I received a letter stating that I was approved for the HAMP but that I had turned it down???? 
From XX/XX/XXXX and XX/XX/XXXX I sent documentation after documentation ... Repetitive ... Many times they stated that I qualified for the Department of Justice and State Attorneys General Global Settlement modification ; that they had all the documentation required, but nothing else would happen. 
Finally on XX/XX/XXXX they placed me on a 3 month trial for a HAMP 2 ; I discover later that they raised the interest rate from 3.5 % to 4.3 % ( I was expecting a 2 % interest rate in addition they added {$100000.00} in interest rate to loan ). The payments increased from {$2700.00} to {$3900.00}. I made several phone calls telling them that I could not make the payments, I tried. They told me that they would readjust the modification. If I could not afford the old payment ; I could not afford a higher monthly payment. 
The modification loan contract was due to XXXX on XX/XX/XXXX. At that point they were urging me to sign the contract. They stated that once I sign the contract the modification would be adjusted. Under duress and trusting the representative I finally signed the contract in XX/XX/XXXX. Of course, I was unable to reach anyone to help me and never heard from the XXXX representative again. I tried to keep up the payments, but it was impossible. 
In addition, I had applied for the Department of Justice and State Attorneys General global Settlement modification in XX/XX/XXXX, I received several letters from them that we qualified. Instead they put us on a HAMP 2 in XX/XX/XXXX? When I asked why they would not honor the Department of Justice and State Attorneys General Global Settlement modification they asked me to apply for ; their answer on XX/XX/XXXX that it was no longer available??? The house is under currently under water. We have moved since due to our military status but this still is our primary residence. This process began in XX/XX/XXXX with Bank of America. The account was transferred while under review for a modification to XXXX on XX/XX/XXXX ; on XX/XX/XXXX the account was transferred back to BOA. I did not sign the modification ( which was finally offered ) on XX/XX/XXXX because I could not afford the monthly payments ( increased by $ XXXX ) ; after several phone calls received from XXXX and under duress, I signed it on XX/XX/XXXX. I was told by my representative that modification would be readjusted after singed. 
This has been an ongoing battle. I am requesting to be placed on a Modification which will help us, low interest rates instead of it being raised with $ XXXX in additional interest. Please help us. 

Respectfully, XXXX XXXX

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