Consumer complaint received 2016-03-29
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
We have submitted XXXX requests for a loan modification to Bank of America, and are still having difficulty having our request for modification processed and are fighting possible foreclosure, despite the Historic Justice Department Settlement for Financial Fraud against Bank of America. In summary, our loan was originally with Countrywide, and it was sold to XXXX XXXX XXXX XXXX. After 18 months and XXXX applications for a loan modification to Bank of America ( hereinafter BofA ), and numerous lies to us from BofA, our loan 's servicer, including asking repeatedly for the same documents over and over, we were denied a loan modification, for which we were qualified to receive. BofA blamed XXXX, and XXXX said they would n't do modifications because they did n't take any TARP money. We were getting different stories from both institutions, with each institution blaming the other for why we could n't receive a modification. Our loan was sold XX/XX/XXXX to XXXX XXXX XXXX XXXX, which did take TARP money and which does loan modifications. So, we applied again to BofA, our loan 's servicer for XXXX XXXX XXXX, for a loan modification in XXXX XXXX because we are three months late due to a temporary illness, which has been resolved. We have submitted every document requested, including a hardship letter, and answered every question, speaking with BofA representatives on almost a weekly basis. We spoke to a representative just last week again, who confirmed that they had all of the documents and information necessary from us, and that our loan modification application was in Underwriting for review. We also had received a letter confirming our application was under review back in XX/XX/XXXX. Today, XXXX XXXX, we received a letter stating that our application for a loan modification was no longer under review because the required documents had not been submitted. We called BofA today and confirmed with their representative, XXXX XXXX, that they did in fact have all of the documents, including a Schedule D from our taxes which they had requested, which we had already sent, which had been confirmed as received, and which she could see in their system, but that the file had been closed. Our file had been closed in error. We are desperately trying to avoid foreclosure. So, she said we had to re-submit our Request for Mortgage Assistance again with today 's date, along with more pay stubs from my wife, which XXXX added to what we had already sent. This is exactly what we went through before, and we are desperate to save our home. So, we have re-submitted our Request for Mortgage Assistance requesting a loan modification yet again, dated XXXX XXXX, XXXX, with additional pay stubs, which XXXX requested today during our phone conversation about our file closed in error. We need help in getting BofA to truly look at our application and give us a loan modification and not give us the run around like they did before, and like they are giving us now. That is why BofA had a huge settlement against them by the Department of Justice, but they are behaving the same way as before the settlement and are not working to help people save their homes. We need help to save our home and have not walked away from our home, like so many others. Please help us, American Citizens, save our home by making sure BofA gives us a fair chance to save our home by giving us a loan modification. We currently have an interest-only 6.5 % home loan and are just asking for a normal P & I loan with a lower interest rate ( given the much lower rates today ), so that we have a chance and do not become like many of those Americans who lost their homes, when the banks failed to work with them on loan modifications. Our loan account manager is XXXX XXXX at 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