Consumer complaint received 2017-10-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: IL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Bank of America violated the National Mortgage Settlement Consent Judgement - In XXXX, I was denied help from the National Mortgage Settlement, per Bank of America, because I was not delinquent in the last 3 months of XXXX. 
**See attached documents as I have that denial in writing, on their letterhead, and signed Bank of America employee XXXX XXXX . 
In XX/XX/XXXX I received an inheritance from my parents in the amount of {$190000.00}. I used that money as a down payment on the house I currently live in. At the time I took out the mortgage on my home I had a credit score of XXXX, and my income substantiated the loan I received. 
However In XXXX, I lost my job of 15 years, I got a divorce from my husband of 14 years due to the stress, and then I had to file bankruptcy. Subsequently around the same time my interest rate started to jump, and my payments went up about {$1000.00} a month. I applied for a mortgage modification and with all of the lost paperwork - things they say they never received and they did - it took them 2 years and 4 months to approve my modification and it was finalized onXX/XX/XXXX. 
Since I was current on XX/XX/XXXX, BOA stated I did n't qualify for a principal reduction. Subsequently I read the National Mortgage Settlement Consent Judgement and no where in those documents does it state that " anyone that was current on their mortgage in the last 3 months of XXXX would not get any relief as they would not qualify. THEY LIED. Oh, and when they did process the mortgage modification they ADDED {$59000.00} + IN ADDITIONAL PRINCIPAL because of interest, etc. It never added up, and I made every single mortgage payment during the 2 years and 4 months of my application process. Even if it was {$1000.00} negative per month, that would have only been {$28000.00}. If I did n't sign the modification with the principal increase they stated they would foreclose on my home. Oh and did I add that when they gave me the mortgage modification they started my loan all over again at {$510000.00} even though I had been paying the whole time, from XXXX. 
Then because BOA added {$59000.00} in principal I no longer qualified for the Illinois Hardest Hit Fund because my loan had exceeded {$500000.00}. I lost an additional {$25000.00} of help because they perpetuated fraud, and continued to perpetuate the violations of the DOJ National Mortgage Settlement. It is time for [ the banks ] to live up to their end of the deal, or well explore all options to remedy this situation, from fining them to hauling them back into court.The National Mortgage Settlement of XXXX required that certain banks ( XXXX, Bank of America, XXXX, XXXX XXXX, and XXXX XXXX XXXX provide extensive relief to borrowers in the form of loan modifications, refinancing, and even cash payouts. 
I want financial compensation from Bank of America, not only did they steal my entire inheritance of {$190000.00}, they added principle to my loan and they keep doing it! 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX, IL XXXX BOA Loan # 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