Consumer complaint received 2022-06-20
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: KS
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage

Complaint:
I had an extra income coming in when the pandemic hit. 
Because XXXX and XXXX XXXX, XXXX, was a hotspot, things shut down, ending my extra income. 
Because of the loss of income, I called Bank of America, which had my home equity loan. 
Talking to a lady at Bank of America, I explained the reasons for the financial hit to my income and the pandemics ' effect on my income. 
I applied for and received a three-month payment postponement. 
Please see the letter A XX/XX/XXXX LOAN POSTPONED FOR 3 MONTHS in the enclosed folder. The following is from the letter which is enclosed in the box. 

This letter confirms that you've entered into a payment postponement ( Forbearance Plan ) for this home loan, which means there is no requirement to make any billed and unpaid contractual payments at this time through XX/XX/XXXX. Except as stated in this letter, the terms of this home loan remain unchanged. 

I received another letter from Bank of America. 

Please see the letter XXXX XX/XX/XXXX. LOAN POSTPONED FOR 3 MONTHS, in the enclosed folder. 

The part of the letter that I enclosed in a box said : This letter confirms that you've entered into a payment postponement ( Forbearance Plan ) for this home loan, which means there is no requirement to make any billed and unpaid contractual payments at this time through XX/XX/XXXX. Except as stated in this letter, the terms of this home loan remain unchanged. 
When I went to my accounts with Bank of America, there was an addition to my home equity loan. 
I made a screenshot of the addition to my home equity line of credit. 
Please see the screenshot in the enclosed folder labeled C PAYMENT DELAYED THROUGH XX/XX/XXXX. 
Screenshot of my Home Equity Line of Credit showing payments postponed through XX/XX/XXXX. 



The statement on the Home Equity Line of Credit states : Your Payment Status Your payments are postponed through XX/XX/XXXX. 

With no payments due, I thought everything was in good shape. 
It was a shocker when I received a letter from XXXX XXXX XXXX stating they were a debt collector and that my Home Equity Loan had been transferred to them. 

The letter I received from XXXX XXXX XXXX dated XX/XX/XXXX, said : Dear Mortgagor ( XXXX ) : This letter acknowledges receipt of your written or telephone request to XXXX XXXX XXXX ( " XXXX '' ) regarding alternatives to foreclosure. You expressed an interest in keeping your home. 

That was a real shocker! 

I called Bank of America about the letter from a debt collector concerning my Home Equity Loan. 

The lady with Bank of America I talked to said they are not debt collectors. Why dont you talk to them? 

I am filing this complaint because there were XXXX payments due to Bank of America. 

There were no payments due. Therefore, I did not need to pay Bank of America anything. 

Bank of America sent my home equity loan to a debt collector, putting my home at risk of foreclosure. 

Some background : Im XXXX years old. I was born on XX/XX/XXXX. Mom and dad were living where I am living today. This place, XXXX XXXX XXXX, XXXX, XXXX, XXXX, is on my birth certificate. 

My dad started the phone service at this address with XXXX XXXX XXXX in XXXX, which I still have today. 

In other words, I was born and raised in this home and have lived here all my life. 

This home, XXXX XXXX XXXX, XXXX, XXXX, XXXX : is the only home I have ever known. 

Talking to the lady at Bank of America when I applied for my first loan postponement due to loss of income because of the pandemic, I learned that I became a member of Bank of America in XXXX. 

Over 40 years ago. 

My finances took a major hit when a lady driving a XXXX XXXX pickup ran a stop light and T-boned me. 

I was driving a XXXX four-door XXXX with the XXXX system XXXX Thankfully she hit me on the passenger side. The front bumper of the XXXX XXXX pickup about matched my front seat. 

She caved the door in about a foot, fractured the windshield, the taillights were metal, struck me so hard, tore the taillights off my car, and they never did find the taillights. 

When I came to and got out of my car, I wondered how my spare tire got out of my trunk? 

What I thought was my spare tire was lying XXXX to XXXX feet away. It took me a while to realize she had broken the rear wheel off my rear axle, brake disc, and everything. 

I was in the hospital for XXXX days. 

I had a XXXX XXXX XXXX XXXX XXXX. Massive wounds across my chest from the seatbelt. XXXX in my neck and lower back. 

One thing I never want to happen again is a group of doctors walking into my hospital room and saying : blah blah blah, rib number six, blah blah blah, is fractured, blah blah blah dont do anything that will puncture a XXXX and kill you. 

I do not want that ever to happen again. 

I had to have a new car when I was released from the hospital. 

I went to XXXX XXXX XXXX XXXX, where I usually bought my cars. 

I realized later I should have taken somebody with me, but I didnt have anybody available at the time. 

They had a car ready for me, financing, and everything. Just sign the paperwork and drive my new car home. I came close to telling them blank blank blank, no. 

Just out of the hospital, I was not in a position to argue. So I kept my mouth shut and signed the paperwork. 

I was stuck with a $ 940 monthly car payment for seven years. 

When youre retired and are on a fixed income, that hurt. When you are XXXX XXXX XXXX, you dont bounce back quickly. 

I had XXXX shots in my neck and lower back at XXXX XXXX. After that, I was in therapy for a long time at XXXX XXXX on XXXX XXXX XXXX. 

I was getting over the accident when another lady ran a stop light. 

About the second accident. 

The accident wiped out my XXXX XXXX XXXX in my shoulder, put a XXXX in each knee, and had XXXX in my neck and lower back. 

XXXX XXXX of XXXX XXXX repaired my left rotor cuff. 

I was in therapy for a long time at XXXX XXXX  on XXXX XXXX XXXX, again. 

A year later, I was starting to get over the second accident when I had a XXXX XXXX  in my right shoulder. 

I had a massive L-shaped tear in the muscle. In addition, I had a tear in the other muscle and a detached tendon. 

The surgeon removed the XXXX XXXX, repaired the torn muscles, and reattached the tendon I was in therapy for a long time at XXXX XXXX on XXXX XXXX XXXX, again. 

When youre in your XXXX, you do not bounce back like a kid. 

For most of my life, Ive been healthy. I fished bass tournaments, hunted, and lived a very active life. 

The thought certainly did not even occur to me that when I was up in years and retired, Id be in bad health because of women running stoplights. 

XXXX XXXX XXXX was good to me. 

XXXX XXXX XXXX had a skip payment option that I could use three or four times. That skip payment option was the only reason I could financially keep my head above water. 

I owe {$3700.00} on my car. Payment is {$940.00} monthly I owe about {$300.00} on XXXX XXXX, when I get XXXX XXXX paid off, I will add the payment to my car payment. 

I just paid {$120.00} on my XXXX XXXX  card. That payment should make my balance on my XXXX XXXX  card about {$300.00}. 

If I can get my care credit card paid off, I can put the additional money on my car payment. 

If I can receive an additional three-month payment postponement, I will probably need one more additional one-month payment postponement. The extra money from the XXXX XXXX  card being paid off being added to the car payment. 

The last several years have been the worst years of my life. 

I had bought quite a few cars off the XXXX XXXX XXXX XXXX. I trusted them. 

I didnt know XXXX XXXX XXXX XXXX had been sold to XXXX XXXX. 

Signing the paperwork and driving off in that new XXXX was the worst decision Ive ever made in my entire life. 

I thought I was about through the toughest period of my life that Ive ever had. 

I thought four more car payments and my payments would drop by {$1000.00} a month. Then, I would have both my car and XXXX XXXX paid off in full. 

Then with no payments due whatsoever, Bank of America sent my home equity loan to a debt collector, and now my home is in danger of foreclosure. 
I dont need this. 
XXXX sent me 15 pages to fill out to see exactly how I am financially, and then maybe they might be able to do something to keep me in my home. Possibly. 
Can you please help me? 
XXXX XXXX

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