Consumer complaint received 2016-09-20
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan modification,collection,foreclosure

Complaint:
This began XX/XX/2016 when I attempted to contact Bank of America to inform them, that in order to meet my new principle and interest payment on my Home Equity Line of Credit account, I would need to make arrangements for a 3rd party company to automatically draw XXXX % of the payment twice a month ; and then submit my monthly payment to BofA on my behalf. This is referred to as the " XXXX. '' I needed specific information from BofA to ensure the " XXXX '' would send the payments to the correct location with the appropriate account information. I was immediately told I could not do that ; that I would have to go through B of A 's loan modification process. I expressed, that I did not feel a loan modification was necessary ; that I really just wanted to report my intentions around how I would make my payments moving forward. I acknowledged that my process would cause the account to become 30 days late, but that was only supposed to be temporary, until I came up with the additional payment to push the account ahead. I was told by customer service, I had no other recourse but to modify the loan. I expressed that I did not want delinquent reporting regarding this account in my credit report. I was told that once the loan modification process was complete, they would clean-up negative credit listings for the account for the time I was engaged in the modification process. I found out weeks later, that information provided to me was inaccurate. I stated I wanted to get started with the " XXXX '' anyway, but was told not to because it would jeopardize the modification process. Again, weeks later, I was told that was bad advice and erroneous on the customer service agents part. Fast forward, I had to initiate contact twice about the loan modification, because I was not assigned and/or received information on who the account manager would be in a timely fashion. The second time, I was given the name of XXXX XXXX. Days later, I received a call from her. Due to limited space, I will condense this story to this : between XX/XX/XXXX and XX/XX/XXXX, though I submitted EVERYTHING requested of me by the due date ; BofA were not timely in their feedback and response to the matter. They even loss my paperwork XX/XX/XXXX, XX/XX/XXXX, then stopped reviewing the account claiming I had not submitted all the required docs. I had to submit proof to the contrary and did. Now comes the interesting part, they denied the modification. The account is now 7 months delinquent and now when I call to get assistance in resolving the issue, the only conversation they will entertain is a short sale. I have been literally transferred to dozens of departments within B of A, and the communication essentially is 'stonewall them ' and take away the property, we can foreclose on you and advice to short sale. I have requested a letter of default, which should contain all the account information I need to prove a hardship and get funds released from my 401K to bring the account current and prevent foreclosure. Still BofA continues to refuses to be of valuable assistance in this matter and flat out refuse to provide such documentation and will not attempt in any way to assist in putting me in contact with the dept that handles this type of business within their institution. This lack of effort on their part is preventing me from saving the property utilizing the only option I have available to me. Please note, Bank of America claimed as of today, XX/XX/2016 ; they have not initiated foreclosure proceeding, nor drafted a " Breach Notice, '' Everyone in their organization, is playing dumb. they foreclose, it will become much more expensive to restore the account to current standing.

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