Consumer complaint received 2016-11-13
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (CA)

Good Morning CFPB- The BofA has continued to post sale dates while I am in a modification. The sale dates just get put back a few weeks or months as my income continues to increase. I have a pending complaint but the BofA response to your communication continues to be the same standard answer. The bank position is they are satisfied with their reply regarding their pattern of " dual tracking '', illegal for the last 3 years in California. 

To this I would like to add new information. I once again have been declined for a modification, even though my income has doubled and I am able to pay the monthly statement I receive in the mail. The bank will NOT allow me to pay that amount. I spoke with a bank representative on behalf of my single point of contact. I asked him how much money do I have to earn to satisfy the bank 's demand. His response is that he does not have that information and that the investor sets the income amount. This brings up the 2nd complaint I filed regarding locating the investor. In brief, BofA names XXXX XXXX as investor. When I XXXX their response is that they are not the investor but the trustee for a consortium of ( unnamed ) investors under the umbrella of XXXX. XXXX is Countrywide, and BofA owns Countrywide. This is a deliberate tactic to make sure the homeowner has no access to any entity who claims to be the investor and no one who claims authorship over who sets sale dates, required income amount, etc. When I confront the BofA with this information they say my only avenue is to contact XXXX even after I just told the representative what I have just told you. 

I then told the BofA representative that I am actively interviewing for full time employment and that until I have a firm figure from the BofA regarding my monthly income requirement I can not determine a dollar amount for salary when asked by a potential employer. The BofA rep then told me in his opinion " no amount of money would be enough. '' And with my sale date being XXXX XXXX, XXXX, the only option is a short sale. 

I much appreciate having this CFPB avenue to describe the position ( s ) BofA has put me and others in, and hope this Bureau will not be shut down due to the recent political election. Can you continue to work on behalf of my particular situation and others facing the same treatment? Once again I would like to mention that this is my family 's home since XXXX, I lost XXXX work due to the downturn of XXXX. I have been working when I can, using the money to restore this classic XXXX XXXX home here in the XXXX, XXXX XXXX. I started with an unlivable home generating no rental income, I am now able to remain on the property and generate {$XXXX} annual. And am working on the XXXX which will generate another {$XXXX}. With a full time job I could be generating a total of {$XXXX} annual. The current annual mortgage obligation is around {$54000.00}. 

Thank you for your continued support. Any cancellation or postponement of a sale date has allowed me to use the time constructively to increase my income, reestablish myself in my field and train in related fields, and continue to restore my home for optimum generation. I have become an activist on homeowners being able to be treated fairly by banks, and have brought this subject to my neighborhood council in which I am board member. 

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