Consumer complaint received 2024-10-23
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

Consumer Complaint to CFPB Against Bank of America, XXXX, and XXXX XXXX for Predatory Loan Servicing Practices, Forced Forbearance/Deferment , and Credit Damage Description of the Problem : In XXXX, during a XXXX XXXX in the XXXX XXXX XXXX , I was involved in a devastating XXXX  collision XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ), which tragically led to the deaths of several XXXX XXXX. This traumatic event changed my life forever, leaving me with deep emotional scars and XXXX. XXXX XXXX XXXX XXXX XXXX I am sharing these limited details to show the severity of my circumstances and to underscore the immense challenges Ive faced since then. 

In XXXX, I returned to the U.S. for XXXX XXXX XXXX related to my XXXX. At the same time, the COVID-19 pandemic hit, significantly impacting my finances as my income was reduced due to my transition from XXXX XXXX. I was placed on XXXX XXXX XXXX to receive XXXX XXXX  and was desperately trying to manage my financial obligations, especially my mortgage. At that time, I reached out to my mortgage servicer, Bank of America, to explain my situation and request a loan modification as a means of support. 

Instead of receiving the loan modification I needed, I was pressured into accepting a forbearance and deferment agreementoptions I did not fully understand and did not want. I asked Bank of America for clarification on the differences between these options, as they seemed similar, but I was given no clear explanation. Instead, I was sent a letter and told I had only three days to sign and return it. Under the assumption that it was related to the loan modification I had requested, I signed the document. When I called Bank of America to seek clarity, I was met with threats that my home would be seized if I did not comply. 

Feeling pressured, intimidated, and as if I had no other choice, I signed the document in haste. This began a downward spiral. Soon after, my mortgage was transferred from Bank of America to XXXX and then again to XXXX XXXX. During these transitions, no one provided me with proper guidance or helped me understand what was happening to my loan. Each time I asked for help, I was told it was " industry standard '' and that I should be thankful I wasnt homeless. XXXX XXXX XXXX XXXX, this dismissive and threatening language deeply offended me, given my sacrifices. 

Until XXXX XXXX took over, I had not missed a single mortgage payment. However, after my mortgage was transferred, XXXX XXXX falsely reported to the credit bureaus that I had missed payments, severely damaging my credit. These false reports contradicted my actual mortgage statements, which showed I had been keeping up with my payments. This has devastated my credit score and my financial standing. 

On top of the financial damage, this situation has compounded my emotional distress. Already struggling XXXX XXXX XXXX XXXX XXXX XXXX, the intimidation, lack of transparency, and continuous pressure from these companies have worsened my mental health. The constant confusion, the unanswered calls and emails, and the fact that I was contacted while on duty ( which is prohibited in my military role ) have all added to the stress and confusion of an already overwhelming situation. 

Furthermore, XXXX XXXX coerced me into releasing sensitive information from my XXXX XXXX recordsdetails that should never have been made public. This invasion of my privacy added another layer of distress to an already difficult situation. 

Despite being told that the forbearance and deferment agreements could not be reversed, I later discovered that they could be redacted and returned to their original state. However, both Bank of America and XXXX XXXX have refused my repeated requests to do so. They continue to deflect responsibility, blaming each other for the problem. All of my attempts to seek resolutionthrough phone calls, emails, and formal inquirieshave been ignored. 

Resolution Requested : Reversal of the Forbearance/Deferment Agreement : I request that the forced forbearance and deferment agreement be reversed and that my mortgage be returned to its original terms, as if the agreement had never been applied. 

Credit Repair : I request that all negative entries related to this forbearance/deferment agreement be removed from my credit report and that my credit score be restored to its rightful state. 

Compensation : I request compensation for the financial losses and emotional distress caused by the mishandling of my mortgage. This includes any fees, penalties, or increased interest rates resulting from the forced forbearance agreement. 

Improved Communication : I ask that all future communication regarding my mortgage be conducted in writing or via email to ensure transparency and accountability. 

Summary : XXXX XXXX XXXX XXXX XXXX  who has faced overwhelming challenges, I feel deeply let down by Bank of America, XXXX XXXX XXXXXXXX XXXX. Their predatory practices, lack of clear communication, and the pressure I was put under have caused immense financial and emotional harm. My mental health has suffered, and my credit has been unfairly damaged. I hope the CFPB will intervene on my behalf to restore my mortgage to its original terms, correct the damage done to my credit, and hold these companies accountable for their harmful actions. 

Thank you for your attention to this matter.