Consumer complaint received 2016-07-03
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AL
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
I purchased my home XX/XX/XXXX with XXXX XXXX XXXX. It was an adjustable loan, and this loan was later sold to Countrywide. My loan then was sold to Bankof America. My payments were {$1200.00} a month. Be reminded that I had other bills to pay such as ulitilities, lights, ect. I called the making home affordable program, and we then called my current mortgage company Bank of America. They told me that I should apply for a loan modification under the HAMP program. They sent me documents byway of XXXX. I filled out those documents, and I also had to get them notarized. I had them notarized at my local bank, and sent them back in the return envelope by way of XXXX. I was approved for the modification. I was told that I qualified for a permanent HAMP modification. However, XX/XX/XXXX, I received a shocking letter that stated that in XXXX XXXX, my mortgage payment would increase from {$720.00} to {$1300.00} per month. This was not as a result of me not paying my mortgage. I immediately called them about this matter. Bank of America stated that in XX/XX/XXXX that I was not in a HAMP modification that I was put in a special program that they had at the time. I asked them what program, because it was the first time that I heard of that. Then they came up with a lie and stated that I failed to send documents back. I knew that was n't true because I had those documents notarized by a notary. I then asked them to send me a copy of those papers, because the customer representative said that they scan documents, and keep them in some type of database. She said that she would send me those documents. I asked many times, and not one document was ever sent to me. They told me that I could apply for a second modification. I went forward with that and was put in a HAMP modification and my payments remained {$1300.00} each month. I then asked, " How is it that my first so-called modification payments was {$720.00} when I actually brought home more money, and now this XXXX modification has my modication payment is {$1300.00}. I asked them did they take into consideration that I have to pay other bills. 
1. I do not understand how my first modication that was supposed to permanent changed after ( 5 ) years. 
2. How my payments went from {$720.00} to {$1300.00}? Which made me appear to be behind because I continued to send {$720.00} until the modification was put into place. 
3. How I was told in XX/XX/XXXX that the first modification would be permanent but changed? 
4. Why those documents was never sent to me that was supposed to be from the original from the first modification? 
*** I believe that Bank of America is covering their tracks by appearing to help people by giving them modification, however ; they raise your payments so high that people still eventually lose their homes. I have been in my home my XXXX daughters and I since XX/XX/XXXX, and I feel that I have been railroaded by this company. Please have them send you how many people are losing their homes after being put into a modification. *** I know that it 's many other people who have been put into this situation.

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