Consumer complaint received 2023-01-08
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NM
Product: Debt collection
Sub-product: Mortgage debt
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
Missing FDIC personal checking account funds from XXXX XXXX ( from multiple bank of america accounts since XXXX ) and mine ( from separate bank of america account ) that are FDIC insured to pay the failed bank countrywidde, bankof america and XXXX for the real estate contract that pays off the mortgage on our personal residence of 14 years at XXXX XXXX XXXX XXXX XXXX NM XXXX Those funds are misplaced, embezzled or misapplied to someone else 's account or incorrectly. 

The loan was not an interest only we were told neither a reverse mortgage or had any other loan than the original countrywide loan. we were told is the same loan that got transferred to bank of america and sold or pennies to the dollar to nationstar, as servicers. 
We paid ( see attachments ) but those FDIC insured checking account funds from our personal checking accounts at bank of america are missing between the fiduciary and bank of america and nationstar. 

We request to collect on them under the FDIC insurance because the payents were for house payments and not to be stolen. There is a papertrail i am sure you can investigate. 

Where it is or can you please see the FDIC claim we did on the money, that was in bank of america for bank of america mortgage through the fiduciary XXXX trust. 
We bought a home in XXXX XXXX for the amount listed in the HUD and the XXXX XXXX XXXX XXXX purchase contract. where XXXX XXXX used their vendor XXXX XXXX to collect on a seller financing wrap dollar per dollar contract per mls financing advertising of the XXXX XXXX XXXX XXXX XXXX The mls listing was cancelled because we were told " the buyers did not qualify '' and later on, the appraisal came after closing about XXXX less than the sales price/mortgage value wrapped of XXXX We already bought so it was a done deal. The roof or part of it fell and leaked we did not get the invoice of the " wholesale roofing ' company and did not exist. The pool had problems with water connection and we looked and no survey was done. 
We started paying and the payment went up and one month in XXXX went up by XXXX XXXX We never got a note or amortization table and the hud statement did not show but the sales price that we were told was the mortgage balance. 
We made the monthly payments and we were told in XXXX that if we want to keep the house we need to deposit extra cash. We did we want to keep our home. The payments are attached here. In XXXX my mother got interest and title from the XXXX 's and myself. WE found out that the property was in foreclosure in XXXX by chance as I was looking for a case in relation to my XXXX son ( guardianship ). We were never served with the original note and to this date we do not have a copy or full history how the loan numbers kept on changing and there were always behind. I put downpayment too and two extra payments as you can see from the hud statement We never got XXXX those were going to the escrow company and those funds got lost too.

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