Consumer complaint received 2022-08-17
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Good Day To Whom it May Concern I am contacting you about a ongoing situation at XXXX XXXX XXXX in XXXX Connecticut XXXX XXXX XXXX and myself, XXXX XXXX, I came into her life in XX/XX/XXXX An overview of this problem In XXXX of XXXX Bank of America and serving company XXXX XXXX XXXX converted their INTEREST ONLY to a conventional. The payment shock put us in foreclosure. It went from {$2700.00} to {$4600.00}. Let me give you the history of the situation. In XXXX my girlfriend bought the house with XXXX XXXX  ( XXXX ) loans then Bank of America ( BofA ) bought the loan from XXXX in XX/XX/XXXX. XXXX miss guided her and gave her an interest only loan which lasted over 13 years. Being a divorce single women she was mislead into the lowest payment which in effect maximized XXXX profits. At the time she was paying {$2700.00} a month and it was interest only which she did not understand, therefore the mortgage amount, principle wise did not decrease in those 13 years at all. They miss guided her at Bank of America when they took over the loan from XXXX and the principal did not decrease in 13 years. What I believe is unjust enrichment they took advantage of her, in XXXX they converted the interest only to a conventional type loan which she can not afford the payment shock of {$2000.00} more a month therefore I came aboard to help her and I put myself on the mortgage in order to sustain performing. Therefore Im asking with your help if we can get some credit or reimbursement of the interest because it ranges from over {$200000.00} in the 13 years due to the unjust enrichment laws. She still owes an original amount on the principal amount which is roughly {$500000.00} so what I like to do is have them reduce the principal and or write a check. It was unjust and therefore put her in a situation that was not necessary nor truthful. I believe she was not fully disclosed on her options when she purchased the home and the mortgage broker seized the opportunity to ensue a woman who did not understand what she was getting into therefore I want your help and or advice on what to do next. Thank you for your consideration in this matter. XXXX XXXX XXXX XXXX XXXX XXXX This was opened and closed without a resolution because they said they have documents doesnot justicfy my claim because they responded doesnt mean im satsifuied im not and no is taking action to help us what is the complaint process for they claim legal over charging us for a loan mmmmmmisrepresented and because we are ingorant that its legal XXXX  this is a form of criminal enrichment and i want compensation they recieved over {$200000.00} in interest and still looking to collect on the principal of XXXX plus this is robbery and if it goes UNJUSTED we FAIL AS A CIVILIZED COMMUNITY. I NEED SOMEONE TO ADDRESS THE ISSUE WE ARE OVER PAYING REGARDLESS OF THE CORRESPONDENCE FROM THE BANK

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