Consumer complaint received 2021-01-07
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
In XX/XX/XXXX Bank of America saw fit to change the Home Equity Line Of Credit number from ... XXXX to ... XXXX and send correspondence that all would be fine and they would handle everything at the Bank. The transfer I had scheduled to bring enough funds into the checking account ... XXXX was setup with the old equity line in the middle of XXXX and appeared to have been cancelled by the Bank under the old account numberr. I set up another transfer of {$590.00} from the ... XXXX Equity Line account to the checking account ... XXXX to cover the payment due on XXXX XXXX XXXX kept a record of the transfer request because of previous incidents of Bank " Loss '' of records. ( see attached with confirmation number XXXX ) from a phone call to the Equity Load department of Bank America on XXXX XX/XX/XXXX in the XXXX, MA office with XXXX XXXXXXXX  XXXX, this appears to be the catalyst that started the whole mess that follows. 



On the XXXX of XX/XX/XXXX I got a notification that the ... XXXX checking account was overdrawn and upon checking I found the Bank had dropped the transfer so the ... XXXX account did not have enough to make the payment. I called customer service and they credited the overdraft and reversed bounce fee charge on XXXX XXXX and again when another occurred on XXXX XXXX. The checking account statement appears mostly normal for XXXX XXXX except for that overdraft charge which was reversed. 



XXXX XXXX the Bank issued a Equity Line statement that indicated we had not made the necessary payment to keep the account in good standing. No alert was sent, just that the statement was available to view which I did not do until several days later. 


XXXX XXXX, the next day, I received a Mortgage Evaluation notice email about the XXXX XXXX payment went missing and I need to contact the Bank as soon as possible at the XXXX number. I called and waited on hold for 2 hours when someone finally picked up they hung up the phone immediately without talking. This is VERY DISTURBING to customers in case you are unaware of that fact. I was unable to call on XXXX XXXX because I was so mad about the last call. 



XXXX XX/XX/XXXX I called the XXXX number and waited on hold for over an hour and spoke to XXXX in Arizona who promised to escalate the case XXXX. I had time to kill waiting to reach a human, so I composed a message in the message system and sent it encapsulating the problems and got an email acknowledgment of the message with a promise to respond in 3-5 days. 



XXXX XX/XX/XXXX becoming alarmed after reading over the Equity Line statement that the Bank was going to try to draw {$93000.00} out of our checking account and the Bank Error overdraft would mess up my finances for months, I called again and spoke to XXXX in XXXX who assured that the matter would be escalated with obvious flaws in accounting and the {$190000.00} in the hold aside account and gave me the XXXX XXXX for the contact. 


XXXX XXXX " XXXX  ''?, who mumbles into phone messaging devices, left a message that he called and to call him back at XXXX XXXX XXXX. I called back in 10 minutes after he called and it went directly to voicemail where I left a message that my checking account was going to get overdrawn because of this Bank error and I needed something in writing that the Bank was aware and is working on it. He never called back, so I called him again the next day, XXXX XX/XX/XXXX, and it went directly into voicemail and I again left a voice message about the Bank error causing a massive overdraft and never heard from him again. I also found that he has close the incident with citing " can not contact customer '' as the excuse for closing when he only tried once and did not answer multiple calls to him. The Case Log I am told was closed because he could not contact me after trying only once. 


XXXX XX/XX/XXXX notice from Bank of America that the Tax Form XXXX is ready an email indicating in Box # 2 Outstanding mortgage principal {$320000.00} and lower down in a summary box Ending Gross Unpaid Principal Balance {$140000.00} so I called again in need of further abuse and waited from XXXX to XXXX to speak to XXXX who looked at the problem as something he had never seen before and spent till XXXX in a stunned state and then mysteriously had problems hearing me and hung up. He did not try to call me back for any resolution. 

XXXX XXXX Made appointment yesterday with XXXX XXXX XXXX and met with her and XXXX XXXX at XXXX to show them the problems I am having getting the Equity Load department to do anything at all, they showed me that the case escalations had been close unresolved and are not able to probe into the reasons. Called the Equity Load department and waited on hold to speak with Equity Loan staff for most of the hour I met with them. I left with no assurance that the problem would be resolved by the XXXX of XXXX when the Equity Line Of Credit will automatically attempt to draw {$93000.00} from my checking account ... XXXX and my finances will be declared insolvent by the Bank which created the problem. The Branch staff created another escalation with case XXXX for the errors in the XXXX Tax Form XXXX with {$320000.00} principal owed on a {$250000.00} Equity Line Of Credit. 

This information was emailed to the XXXX MA Branch office after the XXXX XXXX, XXXX XXXX meeting with the Assistant manager, XXXX XXXX in the hopes that the Bank Equity Loan Department would wake up, but still NO RESPONSE has been received.

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