Consumer complaint received 2016-12-05
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Settlement process and costs

Complaint:
I filed a complaint ( Case number : XXXX ) that explains : " We received a modification agreement for our Loan number XXXX with Notice date : XXXX XXXX, XXXX. Bank of America requested us to return the signed agreement by XXXX XXXX XXXX. On XXXX XXXX, XXXX XXXX, XXXX XXXX and XXXX XXXX, XXXX we requested via FAX to Bank of America to send us the Truth in Lending Disclosure Statement to be able to sign the new modification agreement and send it back. We also asked : " Can you please let us have more time to send sign it and send it back after we receive this information? ". We have not received this information and we still need to review it to be able to sign the agreement. 

All I asked for a fair resolution to the issue was : " Bank of America send immediately via email the Truth in Lending Disclosure Statement of the Home Equity Modification Agreement with Notice date : XXXX XXXX, XXXX to allow us to review it and sign it if we agree with the modification. '' During the past weeks I received a call from XXXX XXXX - Bank of America Resolution Specialist XXXX - who told me that Bank of America can not provide the Truth in Lending Disclosure Statement. I asked him to send me this response in writing and after that I would send them back the signed modification if we agreed. Meanwhile Bank of America continues withholding the payments that we have sent on time. I did not get the reply from XXXX XXXX XXXX about the Truth in Lending Disclosure Statement. The Next letter I received from Bank of America last week states : " Your home equity loan is not eligible for a Home Affordable Modification Program because we did not receive a Home Affordable Modification Program by the date specified in our letter to you ''. ( Attached ) This is not the first agreement that I receive. We got the first HELOC home equity modification agreement during the process of modifying the XXXX XXXX with XXXX XXXX XXXX XXXX. 

The 1st HELOC modification on XXXX XXXX, XXXX initially offered a monthly payment of {$94.00} ; after we paid the 3 months trial the amount increased to {$190.00} which is the amount that we are paying right now. 

On XXXX XXXX, XXXX and XXXX/XXXX/XXXX we got a modification package with a letter that stated " Your modification is not yet complete. Enclosed is a replacement copy of your loan modification agreement. '' and offered us {$250.00} and send someone to our home to " help us '' sign it. We figured out that the " Copy '' had a different amount the be paid on XXXX XXXX, XXXX of {$39000.00} instead of the initial {$3000.00} on XXXX XXXX, XXXX. 

On XXXX XXXX, XXXX we received this new modification, we requested more information, got all kind of replies but not the Truth in Lending Disclosure Statement we requested several times via FAX and now a denial. 

I believe that Bank of America has infringed the law and is trying to cover it. I ask the CFPB to please find out what they have done and are doing with our money. My son has XXXX and my husband had a XXXX years ago. I am really struggling financially and I am scared. I have been paying on time and the account is current. We do not deserve this. We really need help please. All documentation is attached.

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 non-monetary relief