Consumer complaint received 2016-06-08
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
IN XX/XX/XXXX WE HAVE INQUIRED ABOUT LOAN MODIFICATION DUE TO FINANCIAL HARDSHIP. BANK OF AMERICA REQUESTED FINANCIAL PROOF OF HARDSHIP ALL DOCUMENTS WERE SUBMITTED BEFORE THE END OF XXXX BUT WE WERE TOLD THAT UNLESS WE WERE LATE ON THE MORTGAGE WE WOULD NOT QUALIFY. BANK OF AMERICA FORCED US TO BE LATE ON THE MORTGAGE!!!! FIRST WE WERE 30, 60 THEN 90 DAYS LATE STILL AWAITING FOR A MODIFICATION APPROVAL FROM BANK OF AMERICA. EVEN THOUGH ALL DOCUMENTATIONS REQUIRED FOR LOAN MODIFICATION WERE SUBMITTED TO BANK OF AMERICA IT TOOK THEM 15 MONTHS TO APPROVE THE MODIFICATION ... .. WHICH HAS RUINED MY CREDIT AND I KEPT GETTING OFFERS FOR SHORT SALE AND DEED IN LIEU. I FELT TRAPPED AND WHEN I REFUSED ALL SHORT SALE AND DEED IN LIEU MY LOAN MODIFICATION WAS MAJICALLY APPROVED AND WE WERE ALLOWED TO START MAKING PAYMENTS. BANK OF AMERICAN TRIED TO STEAL OUR HOUSE BUT FORCING US INTO DEFAULT AND DELAYING MODIFICATION APPROVAL. AFTER MODIFICATION WAS APPROVED WE WERE TOLD THAT ALL MORTGAGE LATES WOULD BE DELETED BUT IT HAS BEEN ALMOST 5 YEARS THAT I 'M STILL TRYING TO GET THESE LATES REMOVED FROM MY OTHERWISE PERFECT CREDIT REPORT. OUR MORTGAGE RATE IS NOT GOING UP AND I CA N'T REFINANCE DUE TO PAST 120 + AND 180+ DAY LATES ... .THIS IS PREDATORY LENDING AND AFTER FURTHER RESEARCH I 'M FINDING OUT THAT THERE IS AN INSURANCE THAT KICKS IN AFTER THE NOTE IS 120+ DAYS LATE ... THAT MAKES ME QUESTIONS, DID BANK OF AMERICA PURPOSELY FORCED US INTO BEING LATE IN ORDER TO COLLECT ON THE DEFAULTED NOTE INSURANCE AND STEAL OUR HOUSE AND NOW MAKING US PAY ON THE NOTE THEY DID GET PAYMENT ON.. THIS IS OUTRAGEOUS AND A CLASSIC CASE OF PREDATORY LENDING. JUSTICE MUST BE SERVED. I 'M COLLECTING SINGNATURES FROM OTHER VICTOMS OF PREDATORY LENDING BY BANK OF AMERICA AND WILL FILE A LEGAL COMPLAINT IN CLASS ACTION FORMAT SOON! ALL I 'M ASKING FOR NOW IS FOR BANK OF AMERICA TO DELETE ALL LATE PAYMENTS ESPECIALLY 120+ DAY LATES FROM MY CREDIT REPORT SO I COULD REFINANCE AND KEEP MY HOUSE.. 
BK OF AMER Account number XXXX .... 
Recent balance {$430000.00} as of XXXX/XXXX/XXXX Date opened XXXX Status Open. 
+ Dispute XXXX FL XXXX XXXX Address identification number XXXX Mortgage identification number XXXX Type Mortgage Terms 30 Years Credit limit or original amount {$580000.00} High balance XXXX Monthly payment {$3400.00} Recent payment amount {$3400.00} Date of status XXXX First reported XXXX Responsibility Individual Comment Loan Modified Reinvestigation information This item remained unchanged from our processing of your dispute in XXXX XXXX. 
Account history XXXX XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX XXXX OK XXXX OK XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK XXXX OK

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