Consumer complaint received 2015-12-29
Product: Mortgage — FHA mortgage
Issue: Loan modification,collection,foreclosure — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

I purchased a home with my then-father-in-law XXXX XX/XX/XXXX financed through Bank of America for {$87000.00}. I lived in the home with my husband at the time, XXXX, until XX/XX/XXXX. We separated XX/XX/XXXX, but I continued living in the home until XX/XX/XXXX. XX/XX/XXXX, I moved out and XXXX stated he wished to continue living there with his girlfriend ( now wife ) and wanted to refinance to put the home in his and his father 's name when the divorce was complete. I agreed and the terms were written into the divorce decree. According to the divorce he had 24 months to refinance or assume the loan. I moved to Florida in XX/XX/XXXX for a job opportunity. I found out in XX/XX/XXXX that XXXX had not been making payments on the mortgage and the home was in foreclosure. When I inquired as to what happened, XXXX stated that he could not refinance because more was owed on the house than it was worth. He stated that he spoke with a man named XXXX XXXX with Bank of America, who stated a loan modification was the best option. He stated the modification would reduce the amount owed on the home so that he could refinance. Additionally, in the modification it would be possible to remove my name from the loan since we were divorced. I then spoke with XXXX XXXX who confirmed what XXXX had stated. I had several phone calls back and forth with XXXX XXXX. He stated that since I was out of state and no longer living in the home, a quit-claim deed was necessary to proceed with the modification. I again confirmed that my name was supposed to be removed from the mortgage at the completion of the modification, and XXXX XXXX stated that was his understanding. I signed the quit-claim deed so that I did not need to be in attendance for the modification. I was not contacted again by Bank of America or XXXX XXXX. XX/XX/XXXX I noticed based on my credit report that the modification had been completed, but my name was still on the loan. I contacted XXXX, who stated he was told it would take 3 months after the modification. XX/XX/XXXX I contacted him again, and he stated he did not know what happened, and did not know what to tell me. He stated both he ( XXXX ) and his father ( XXXX ) signed paperwork for a modification and he was 'under the impression ' that my name would be taken off the loan. Since he could not give me any information, I contacted Bank of America who also could not give me any information about the loan modification, other than the fact that it was modified. They said it was possible to remove a person 's name off the loan during a modification, but they were not able to say if it was written into this modification. I requested a copy of the modification documents to be mailed to my mother 's address and as of XX/XX/XXXX I have not received them. Additionally, the amount of the loan financed increased from {$87000.00} to {$96000.00} and the term of the loan was extended. I was not contacted about the increase or the extension, and this was not the deal that I was told about by phone. I now have a {$96000.00} home loan in my name for a home that is worth roughly {$65000.00}. I was told repeatedly that the modification would adjust the price of the home to market value and take my name off the loan. To top it all off, I am not on the deed to the home anymore, so legally I have no rights to the home. My ex ( XXXX ) stated he is planning on moving and will leave the house in foreclosure because he 'has no legal responsibilities ' to the home. His father has XXXX, does not live in the home, does not have the mental capacity to care for a home, nor the income to pay for the home if XXXX does leave. I now have a home that I have no rights to sell or even rent, that has the loan amount increased several tens of thousands of dollars more than it is worth, and with an extended loan term without my knowledge/consent.