Consumer complaint received 2015-03-20
Product: Mortgage — FHA mortgage
Issue: Loan modification,collection,foreclosure — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (NJ)

Bank of America has endorsed and erected an " intangible '' system and culture that takes advantage of the FHA program and its borrowers. My experience with Bank of America proved that this was the case and that they were not concerned with what was in my best interest. I did all that I could within my knowledge, diligence, persistence, and power for a favorable outcome on my behalf. The crux of my grievance originates from both my XXXX hard work and expertise in finding Buyers for my property seemingly all for naught. In the beginning of my short sale request, my XXXX Realtor/Broker was able to find a buyer with cash ( proof of financials and legitimate documentation ) which was given to Bank of America during the application process. My XXXX Realtor/Broker informed me that all documents were administered in the " XXXX System '', but was having difficulty finding them. Neither my Realtor/Broker nor I was informed by Bank of America ( in XXXX through XXXX XX/XX/XXXX ) that changes being made in the XXXX System would hinder the process until after the fact. Because of this, the documentation failed to be processed and I received a decline. Unfortunately, due to my Realtor/Broker 's Mother untimely passing, I elected to switch Brokers. My XXXX Broker found a Buyer right away ( as did my XXXX Broker ) who offered cash ( with all the appropriate proof of financials, authorizations, and documentation ) that offered approximately {$20000.00} more than the first offer. My second XXXX experienced the same Bank of America improprieties and challenges as my first XXXX ( i.e. not being updated by bank officials concerning the status of my short sale request ). My XXXX Broker received XXXX Declinations Letters while working on my behalf. Miscommunication or the lack of communication on the part of Bank of America since the onset of my short sale request, ; lack of continuity and/or inconsistency with bank negotiators managing my file ( where I and my Brokers were rarely able to speak with the same negotiator who was familiar with my case ), ; failure to provide informed updates to my Brokers and me as to the status of my case, ; mishandling of documentation through the " XXXX '' system and in general by Bank of America, ; and lack of knowledge about the " XXXX '' system ( which is supposedly the quickest and most effective apparatus in expediting documents of Bank of America short sale professionals ) was customary. I requested the short sale be initiated or reopened at least XXXX times by Bank of America 's Escalation Team, a XXXX XXXX HUD XXXX, and by Bank of America 's Office of The President. I had to go through the cancellation of my modification which took a considerable amount of time because Bank of America short sale professionals did not understand the " full '' protocols and codes of the modification to short sale process. The preceding Declination Letters stated ... " I failed to provide the documentation '' without any clear explanation as to what documentation was missing or needed. I had to fax documents to Bank of America 's short sale negotiator via Bank of America Branch in XXXX, Virginia. The Branch professionals notarized and spoke with the negotiator as to what was needed to expedite the process. However, at the application deadline, the negotiator stated that she never received the documents. My XXXX request for short sale was on XXXX XXXX, XX/XX/XXXX. The foreclosure of my home took effect in XXXX XXXX, XX/XX/XXXX.