Consumer complaint received 2016-05-13
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
In XXXX I lost my job and had to relocate to a new state to find employment. I put my Delaware condo on the market but it failed to sell. I found a renter but the renter asked to break the contract after only 3 months. I put the condo back on the market, and again it failed to sell. In total I had the condo on the market for over a year with barely any interest from potential buyers. 
In late XXXX I found a new renter. I then began the process of requesting loan assistance from Bank of America. On the application, I selected " Undecided '' to the question " I want to a ) keep the property b ) vacate the property c ) sell the property d ) undecided. '' I have been unable to get through the application process because Bank of America 's underwriter apparently believes that I am a business owner, when in fact I am not. Several years ago my investment advisor got me to invest in a XXXX XXXX XXXX, XXXX. This is an investment fund that provides financing for construction equipment, industrial materials, and the like. Investors receive interest payments on money that the fund loans to businesses. XXXX I receive an IRS Schedule XXXX ( Form XXXX XXXX each year. 
Bank of America has demanded that I provide business tax returns such as an IRS Form XXXX. They insist that I am an owner of the business and that I must provide this information. They have also asked for details such as the XXXX salary, profit and loss statements, and more. This is not information that I can obtain. XXXX and the only information that I can get is on the Schedule XXXX. 
I have provided the XXXX numerous times, and I have submitted many letters explaining the situation. I have offered to have my investment advisor contact Bank XXXX. I also reached out to XXXX and asked if they can provide any help. This has all been to no avail. Each time, the underwriter responds that I must submit business tax returns. This is not possible since no such documents exist, and XXXX declined to provide any information other than the XXXX. 
Yesterday XXXX of Bank of America 's representatives told me that since I am not able to provide this non-existent documentation, I can not continue with loan assistance. I also found out that even though I marked " undecided '' on the application as to what I wish to do with the condo, I had been assigned to the Loan Modification department, and will have to begin the process anew if I decide to pursue a short sale or a deed in lieu of foreclosure. I do n't understand how " undecided '' means " please decide for me. '' Today I reached out to Bank of America 's via XXXX and XXXX, and I received multiple responses that were nothing more than rehashes of the underwriter 's incorrect statements and requests for documentation that does n't exist. 
I am close to defaulting on the loan because even with a renter I ca n't cover the cost of maintaining the condo. This is about to break me financially.

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