Consumer complaint received 2017-02-18
Product: Mortgage — Other mortgage
Issue: Loan servicing, payments, escrow account — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (NJ)

Bank of America defaulted on a contract they bought from Country Wide. 
On XX/XX/XXXX, my wife and I signed, witness by Notary Republic XXXX XXXX, loan Modification DOC ID # XXXX. 
This modification went into affect with a first interest payment installment of {$660.00} on XX/XX/XXXX. 
In XX/XX/XXXX, we had not received a monthly statement with a payment voucher/coupon reflecting the new payment schedule. I called customer service to inquire on the status and what amount needed to be sent in. Customer service stated the application was probably still in processing, due to a backlog. I requested a breakdown of the payment needed for XX/XX/XXXX. Customer service replied with the escrow total of {$420.00}. Gives a total of XXXX payment was made, by check, for the XX/XX/XXXX. the amount was {$1200.00} ( XXXX interest, XXXX escrow, and {$200.00} toward principal ) The addition principal payment was a condition allowable per last line of XXXX paragraph in sec. XXXX XX/XX/XXXX payment was made by check for {$1000.00}. this payment was returned to us per DOC REF XXXX stating return due to amount was short of total due ( THIS IS IN REFERENCE TO THE PRE-MODIFICATION PAYMENT OF {$1700.00} ) XX/XX/XXXX PAYMENT WAS THEN MADE VIA PHONE WITH CUST. SER. {$1000.00} PLUS A SERVICE FEE OF {$12.00} XX/XX/XXXX - XX/XX/XXXX ALL PAID EXACTLY THE SAME WAY ... PHONE. {$1000.00} + {$12.00} *** XX/XX/XXXX AND XX/XX/XXXX our loan was still under the COUNTRY WIDE name as the loan servicer. 
BoA handled the Country Wide accounts as their own during this transition period XX/XX/XXXX was the first BAC statement XX/XX/XXXX we got an INTENT TO FORECLOSE NOTICE. We called to see what this was about. BoA said we were behind. We argued we were not. BoA said no modification was in place. All payments were accounted as partial. 
Then came the HAMP 3 month trial that turned into 6 months. {$840.00} X 6 payments roughly equalled 2 Pre-Modification payments. 
XX/XX/XXXX denial letter. XX/XX/XXXX Intnent to Foreclose. BoA would not except any payment other than the balance due to bring the loan current. Just like today, we would need to make a payment of $ XXXX+. 

Up until XX/XX/XXXX, Bank of America denied this modification ever existed. 
Finally, XXXX XXXX admitted the modification did exist. It is in writing in response to our earlier complaint filed against BoA. 
Also included was the payment history. This is the tell-all proof of just what BoA did to our account. 
Well hidden, but using accounting skills, the ledger plainly shows how BoA applied all of the MODIFICATION payments as PARTIAL PAYMENTS toward PREMODIFICATION balances. 
on XX/XX/XXXX the principal was to be {$180000.00} ( see ledger ) Then, as we made each monthly payment, BoA " escrowed '' them until 2 payments made up the PREMODIFICATION monthly payment. credits were applied with PREMODIFICATION PAYMENT/MONTH noted. 
Furthermore, Bank Of America hired XXXX XXXX, XXXX of XXXX NJ in XX/XX/XXXX to process the foreclosure. Upon discovery, of the above conditions, the law firm dropped the case. ( Refund of lawyer fees noted in ledger ) Bank of America became fully aware of the issue. 
Shortly afterward, Bank of America terminated the servicing of this loan and transferred it to XXXX. Effectively " washing their hands of the matter ''. SLS offered a modification in XX/XX/XXXX. {$300000.00} at 2 % on a $ XXXX-XXXX home. We declined. XXXX hired XXXX, XXXX, XXXX of XXXX to petition the court for foreclosure and sheriff 's sale. Now scheduled XX/XX/XXXX. SLS then washed their hands by transferring service to XXXX XXXX on XX/XX/XXXX ( with a sheriff 's sale already scheduled )