Consumer complaint received 2016-02-24
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CO
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
We have a home in XXXX, XXXX that we purchased almost 10 years ago. We lived there for 2-3 years before we relocated to XXXX for a new job. We then put the house up for sale but due to the housing market plummet we were unable to sell the home and had to rent it. Then due to financial hardships including unemployment we had to try to shortsale or foreclose on the home. Two years ago ( XX/XX/XXXX ) we began the short sale process with Bank of America, the holder of the mortgage. Within the first 6 months we had between XXXX-XXXX offers valid, several were at or above the value of the home and XXXX of them were cash offers. None of the offers were accepted and for the next almost 18 month time period we have wrestled with their ridiculous system. We have filed the same paperwork over 5 times. We were even so frustrated that we have offered to file for a Deed in Lieu of foreclosure or even a straight out foreclosure and we were told that they would n't accept it. 

After doing some research we believe that Bank of America is " Dual Tracking '' our property, which is working on a foreclosure while also working on loan modification. This is not legal and they have lost class action suits for this very action. We have now begun to receive notification of Foreclosure process even though we are still semi-weekly filling out and faxing paperwork for the loan modification process so we can short sale. 

At this time we have once again XXXX-XXXX valid offers for short sale on the property. They have been adding bogus fees to our monthly statements including fees for yard work, lock change, cleaning, maintenance, mail fees, etc. some of which we believe they have made up because we have received no documentation. We paid for the proposed yard work and maintenance performed on the property out of our own pockets.. We also just received a statement with an Attorney/Trustee fee which leads us to believe they have already begun the foreclosure proceeding. At this point we just want to be done. We 'd love to have the home sold but we really do n't think they are ever going to process or accept an offer. We 've been doing this since XX/XX/XXXX and it 's exhausting. BoA is clearly working against itself. While they tell us during regular phone calls that the loan modification / short sale process is moving forward, we receive letters indicating they are foreclosing. 

I spoke to BoA on XX/XX/XXXX at XXXX ( MT ) XXXX XXXX ( our Account Manager ) informed me at that time that the property did NOT have a foreclosure date set and that we were now being moved into either a Short Sale or Deed in Lieu of foreclosure. I opted for Deed in Lieu, citing BoA 's history of unwillingness to allow a sale to go through. I also told her that we had offers on the table. 

She informed me that we would follow up on XX/XX/XXXX. 

In the meantime, we received notice that they house had been rekeyed and it was moving into foreclosure.

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