Consumer complaint received 2016-05-10
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I received a loan modification through Bank of America in XXXX XXXX that included a partial claim amount/subordinate note of {$27000.00} from HUD ( U.S. Department of Housing and Urban Development ). I applied for another loan modification in XXXX and received a phone call from my account manager by the name of XXXX XXXX in XXXX XXXX whom works in the loan modification department stating I was approved for the modification. XXXX XXXX stated that in order to make my payments more affordable for me, the previous partial claim amount of {$27000.00} that I initially had from my XXXX loan modification was placed back into the loan. She stated that the current principle balance & the partial claim amount of {$27000.00} all got combined and re-reviewed appropriately. XXXX XXXX stated that the new outcome was that I received the same type of modification through FHA-HAMP with partial claim but under different terms. She stated that under the new updated modified terms, the XXXX loan modification is a no longer valid existing modification & told me that the {$27000.00} partial claim amount is no longer valid & that I will not have to pay this amount anymore. She stated that under the new updated modified XXXX terms I would only have to pay back to HUD the new partial claim amount of {$12000.00}. 
I was still skeptical so before putting my house on the market therefore I called XXXX XXXX once daily for two weeks straight to verify that I would n't be responsible for paying the {$27000.00} partial claim amount. She told me every single time I spoke with her that now I can put my house on the market because the {$27000.00} is officially gone. She told me that it takes 30 days or less for the numbers to update all around the board, on Bank of America 's end and on HUD 's end. So see she is the reason that I even put my house back on the market. I received an offer and signed a contract with a close date of XXXX XXXX, XXXX XXXX XXXX XXXX pulled the title with the original subordinate note from XXXX in the amount of {>= $1,000,000} so before the buyers paid for the appraisal of my house, paid for a plumber and sold their house they reached out to me to verify with XXXX XXXX that I will not have to pay back the {$27000.00}. I contacted her every single time & she verified that this partial claim amount would be removed. She stated I would only be responsible for paying a subordinate note of {$12000.00} only at closing. 
I even have XXXX XXXX on my voice recorder and recorded her telling me this. I reached out to HUD and was advised that the {$27000.00} will remain a part of my loan and added to the {$12000.00}. I contacted XXXX XXXX & she reassured me that HUD representatives did n't understand the process & does n't know what Bank of America is doing to make my payments more affordable & stated that 's why HUD representatives kept telling me that. She told me over & over again to ignore them & just wait on the modification to close out so that 's what I did. I received a call from XXXX XXXX XXXX XXXX, XXXX & she advised me that my modification closed out around XXXX XXXX, XXXX & she stated that it will take a couple of days for the new updated modified terms to update with HUD and as of today they still have not updated. XXXX XXXX says HUD 's records should reflect the new terms & kept telling me to give it more time & I did that.XXXX. XXXX stated to me in our last conversation that she was going to reach out to Bank of America 's research department to see why the terms have not updated through HUD, she told me that that 's all she could do and if HUD 's system does n't update then there was nothing else that she could do for me. She says I would have to accept the outcome & that she could no longer help me, even if it does not end up the way she stated to me in the beginning & all the way to the end that it would.

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 non-monetary relief