Consumer complaint received 2016-01-05
Product: Mortgage — Home equity loan or line of credit
Issue: Settlement process and costs — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (KY)

We opened an equity line ( originally XXXX -- later sold to Bank of America ) on our second home in XXXX. We paid via automatic payments before the due date each month for over 10 years. In XXXX XXXX, we received a notice indicating the payment was late. We made payment immediately and then learned that BOA cancelled our automatic payment without letting us know. We then learned the loan matured and BOA offered a modification. No payments have ever been late except the XXXX payment in which BOA cancelled the auto payment. That payment was 24 or 25 days late. Our credit score was XXXX in XXXX XXXX. BOA has reported false nonpayment information the entire year of XXXX and we are unable to obtain favorable interest rates to refinance another loan due to our credit score decreasing over XXXX points due to BOA 's reporting nonpayment. We have paid a total of {$100000.00} during XXXX BEFORE each monthly due date which included several principal only payments and all other payments as agreed to BOA modification and as per instruction from " case manager '' XXXX XXXX at BOA. NO PAYMENTS WERE LATE. BOA had us sign a modification early in the year. We sent it back and thought everything was done. We made the agreed-upon monthly modification payments of {$810.00}. In XXXX, we learned our credit score had tanked. We obtained credit report and saw BOA was reporting incorrect information. We contacted BOA and they said they made a " wording '' mistake in the modification agreement and would need to reissue it. BOA reissued it XXXX modification agreements and they have XXXX had incorrect amounts included in the documents. The latest modification agreement numbers owing were overstated by approximately {$14000.00}. I have spent hours/days on the phone with BOA representatives with no success in obtaining correct numbers or even how they determined the " capitalization '' costs, etc. They mailed the latest modification agreement on XXXX XXXX, XXXX. It stated to return no later than XXXX XXXX, XXXX. We received the package in the mail on XXXX XXXX, XXXX, the day after it is due. As mentioned, the principal balance plus capitalization costs in the modification agreement is overstated by {$13000.00}. I have been unsuccessful in getting BOA to provide details for the incorrect principal balance they say we owe. My credit score is ruined despite the fact that we have made all payments as we were told by BOA. BOA representatives tell me a manager will call me at a certain time the next day and no one calls. This happens repeatedly. I am unable to reach my case manager. On XXXX BOA called me. I was on the phone over 2 hours. OVER 2 HOURS. This was not a scheduled call and I had to completely rearrange my day due to this unexpected call. Even after over 2 hours, NO RESOLVE and another case of being told someone would call me and they have not as of today XXXX XXXX, XXXX at XXXX. Despite kind representatives ( most of them, not all ), no one is competent enough to provide the numbers or detail of numbers included in a legal document I 'm told to sign..which obligates us to overstated amount of loan.