Consumer complaint received 2023-07-21
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (NC)

XXXX - A Final Agreement between Bank of America and ourselves was reached to settle a mortgage in XXXX. It took XXXX years to settle and has resulted in an incorrect XXXX issued creating a large tax liability for us. The original mortgage was through Countrywide and bought by Bank of America. In XXXX, the mortgage was refinanced utilizing the XXXX act resulting in an agreed upon monthly payment which was religiously made each month. However, over the next 9 years, BAC lost the paperwork a total of XXXX times necessitating resubmissions from us to formally document the agreement. During that time the reduced payments were considered partial payments and resulting in BAC initiated foreclose proceedings in XXXX. During this time entire time payments were ( and several lost by BAC even though cancelled checks were submitted ), lost paperwork updated and sent, numerous attorneys hired on both sides, legal briefings, discussions and arbitrations held all at BACs request. After XXXX years and through multiple attorneys, a final agreement was reached and signed on XX/XX/XXXX. HOWEVER, it wasnt over! 

Unfortunately, BAC issued an incorrect XXXX XXXX. Per the final agreement, a settlement amount was given to us to cover attorney fees and costs incurred by us. This is designated in the agreement on page XXXX of XXXX ; paragraph XXXX : " Full Satisfaction. The XXXX is in full satisfaction of the Released Matters ( as defined herein ), and it includes all attorneys fees and costs that Defendants XXXX have incurred in connection with the XXXX. ' Per the IRS and the XXXX, this is a non-taxable event. However, BAC has issued a XXXX XXXX stating XXXX amount as taxable. From XXXX to XXXX, multiple attempts have been made to correct the problem. The attorneys settling the case advised us to work with BAC directly to solve the issue. The attempts were fruitless, again, lost documents, multiple XXXX with no direct communication to the group responsible for the issuing of the XXXX. The XXXX itself has an XXXX number that doesnt work. Detailed below are the latest attempts as there are too many to detail from XXXX to XXXX. 

XX/XX/XXXX IRS agent assigned and XXXX XXXX date assigned. Agreement with IRS that BAC should issue a corrected XXXX XXXX with 3 of the XXXX stating a XXXX XXXX. All documents must be turned into the XXXX XXXX by XX/XX/XXXX. The IRS agent also stated that if a corrected XXXX can not physical be issued quickly, a letter on Bank of America letterhead stating that a corrected XXXX with Box 3 as XXXX  is in process would be acceptable until the corrected XXXX is in process XXXX 

XX/XX/XXXX Multiple phone discussions with BAC over 2 hours via 3 different XXXX. The operators could not find the agreement nor the XXXX XXXX in question and had NO facility to have us send them to them. After many phone transfers and much discussion and verification, the operator opened case # XXXX. All details as stated above were noted in the case and it was expedited. Since the operator had no facility to accept the agreement or XXXX in question, we went to a BAC branch and faxed the incorrect XXXX, a full copy of the XXXX XXXX, the IRS information and contact and a cover explaining the entire situation. A fax confirmation was received. 

XX/XX/XXXX No updates on this case XXXX had been received. Spent 3 hours on 4 different XXXX # XXXX and 4 different operators. First, the case couldnt be found. Then, both names werent on the loan which was eventually found after much discussion. The status given to us was that the case was rejected due to the original operator submitting an incorrect code and/or form. We were not notified of this in any way. This current operator created a new case # XXXX and stated that it was expedited and full details ( as previously stated ) were added to the case. We were told that we should call back to XXXX in 7 days to get status. 

XX/XX/XXXX Received letter from BAC dated XX/XX/XXXX stating We cant add ( husbands full name ) and ( wifes full name ) as authorized third party of your home loan. We are ALREADY the stated lenders on the loan. This is further proof of BAC 's incompetence in this entire matter. 

The XXXX XXXX date is XX/XX/XXXX and all documentation must be sent to them by XX/XX/XXXX. Based on BAC displayed incompetence and lack of responsiveness in this matter, it is unlikely that we receive a corrected XXXX from them to meet the XXXX date. Therefore, we respectfully submit this complaint as a request for additional help. 


CC : Office of the Comptroller of the Currency Consumer Financial Protection Bureau XXXX XXXX, CEO BAC ( XXXX ) IRS, Examination Appeals, New York