Consumer complaint received 2021-12-13
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage

Complaint:
I have been contacted by Bank of America XXXX XXXX XXXX during the past 6 months with my current forbearance options on my XXXX loan. Unfortunately I continue to receive incorrect and erroneous information. In XXXX of XXXX I was offered to defer my forbearance amount to end of my loan or spread the payments out over a 6 month period. These options were given to me multiple times and if Bank of America does record the calls you will hear them clearly mention these option over many calls prior to XX/XX/XXXX. 
I had made a complaint after I was informed that the deferral option was now not an option and that it was a mistake by the representatives to offer it to me. They never told me it was going to be submitted for approval. They told me it was going to be given and the paperwork was being sent to me in the mail for my signature and to send it back. It never arrived and I was later told it was all a big mistake and was not an option anymore. 
I had also been offered on multiple occasions the option to spread my payments out over 6 months to get caught up after the forbearance. Again, this is also easily verifiable if you go back and listen to the calls Bank of America made to me in XXXX, XXXX, XXXX and XXXX. 
My problem with Bank of America at this point is the following. 
I was told back in XXXX when I was first called by Bank of America and offered the initial forbearance that I would be able to defer my forbearance payments to the end of my loan. 
I was also told by Bank of America in XXXX that my option would be to defer my forbearance payments to the end of my loan. Now Im told that these Bank of America representatives in XXXX and XXXX had made mistakes when conveying this information to me. 
I was also told on multiple occasions in phone calls from Bank of America that I also had the option of repaying the forbearance amount by spreading out the amount owed over 6 months. Now, in my latest phone conversations Im being told that this is also incorrect.

Everything Bank of America has said to me over the course of this forbearance has been either a lie or the Bank of America representatives are incompetent and have no idea what they are explaining to the customers. The only thing they know how to repeat is, Loan Modification. Over and over again is, Loan Modification. 
When Bank of America called me to give me my options the first option was deferral. The second option was to spread out the owed amount over six months. The third option is loan modification. Bank of America took back all the options except a loan modification, and that option is simply to send me an application to see IF I qualify for a loan modification. Its not even a guaranteed option. Its nothing more than mailing me an application. You still have to qualify. Im not interested in the loan modification. I have approximately 10 years left to pay this off and most of the money is going towards the principal at this time. I do not want to get involved in a loan modification. I want to continue to pay off my current loan which I have been paying for the last 4 months. 

I was recently contacted by XXXX XXXX XXXX. They were referred to me by Bank of America. They also seemed concerned after I gave them all my financials and discussed this with them that Bank of America was unwilling to work with me to get my mortgage current. 
XXXX XXXX also said they would call Bank of America with me to help with a solution, but we have been unable to reach the proper department at bank of America at the same time. Trying to get my XXXX XXXX representative and the proper person who can help me resolve my issues at Bank of America on the phone all at the same time has been hard because everyone is busy and its been impossible to get me, XXXX XXXX and Bank of America on the phone at the same time. 
XXXX XXXX has also informed me about the California Mortgage Relief Program. I would like to apply for this option but the program has not started in California yet and Im in my last month of XXXX and Bank of America expects me to come up with almost {$30000.00} this month. 
I feel that I have been misled ever since the beginning of this forbearance program. Bank of America called me and offered it to me back in XXXX with the understanding that I would be able to defer this amount at a later date to the back of my loan. 
I have been offered many options by Bank of America representatives that have all turned out to be lies. I have now been put in a position that I cant resolve because of the misguided information from the Bank of America representatives.

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