Consumer complaint received 2017-05-19
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (TX)

To whom th is may  concern - First, we 're exhausted ; from speaking with associate after associate and hours upon hours of phone calls, only to have different stories from different people. Nothing has been resolved. We have been in our home for 10 years 3 months & 19 days (  XXXX / XXXX / XXXX  ). We have experienced problem after problem with Bank of America, since the beginning.     Focusing only on recent concerns ( not going into detail of the early years of abuse, neglect and incompetence ) I will focus on the current neglect, abuse and incompetence not to mention time, energy and total disregard for us & their mistakes and no one, especially them is holding them accountable. This is why we 're here.     This complaint is a result of a phone call from last week to our insurance company. My husband,  XXXX   XXXX  - After speaking with   XXXX   XXXX   XXXX    on  XXXX / XXXX / XXXX  @  XXXX  ( cst ) it was brought to our attention that Bank of America  failed to   make payments to our insurance compan y ( E scrow ) and therefore we have been effectively canceled as of  XXXX / XXXX / XXXX  due to non payment by Bank of America  XXXX    XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   informed him that they have all the calls recorded between them    XXXX       XXXX   XXXX   XXXX   XXXX  and Bank of America and if needed those calls could be used to show Bank of America 's Fault of non payment. We did n't know that our home is not covered and has n't been since  XXXX  of last year and still we do not currently have homeowners insurance. Nobody informed us. Not   XXXX   XXXX   XXXX   nor Bank of America. But our escrow account keeps going higher and we continued to believe we did have coverage due to the fact that we are paying our premiums through our mortgage payment and clearly show a large portion going to insurance & taxes. Another phone call on the same day to Bank of America on  XXXX / XXXX / XXXX  and they told  XXXX  we are covered and they have no idea what is going on.     Today & again  XXXX   XXXX / XXXX / XXXX   XXXX   XXXX  spoke with  XXXX  @  XXXX  with   XXXX   XXXX   XXXX   t  oday  ( 52  minutes &  14 sec ond s ) he tol d him almost the exact opposite of what was told last week by the same company. He also called Bank of America today @  XXXX  and spoke with  XXXX   first then  transferred & then   XXXX    ( 1 hour 6 minutes and 35 second s of speaking, nothing was accom  plished ) 1 ) Bank of America has failed to make our insurance payments on time 2 ) Reporting inaccurate information to our credit report 3 ) Refusing to remove our escrow account after request after request. Today another request was made and denied.
4 )   BOA - Sent {$5500.00} to our insurance company  (  people with similar homes as ours pay $  XXXX  year  )  XXXX  told  XXXX  we do n't look at the bills we just pay them. People with  XXXX  dollar homes do n't pay  XXXX   XXXX  dollars annually in insurance. This is absolutely absurd.      5 ) B OA - Did n't follow up on re-amortization in a timely manner and did n't follow the dates and terms of the contract. Only after calling last week on  XXXX / XXXX / XXXX  did they put into the mail on  XXXX / XXXX / XXXX  and just received the contract this week. Should have all been finalized before  XXXX  of  XXXX . Of course she made excuse after excuse on why it was n't completed in the time specified back in  XXXX  of  XXXX .      6 ) Bank o f America 's Customer service is horrendous and incompetent & truly these are understatements.     We have spent many hours today ( not counting the countless hours before today ) dealing with a problem that should not be. Accountability is something that needs to start with Bank of America. When we make a mistake we are penalized with fees and penalties and when Bank of America makes a mistake we also are held accountable for their mistakes, as well.     We are in the process of filing formal complaints with CFPB, BBB and the FTC and  whomever els e we can use to hold this Bank accountable. Treatment such as theirs has to stop and when it does happen it 's time to hold them accountable.     It 's after  XXXX  on a Friday night and I have spent at l east two hours, maybe  more gathering our notes, names & numbers to draft this letter to you. This is how important this is. This is only the " tip of the iceberg '' -this is a great place to start and we will continue to show evidence of the abuse, neglect and incompetence displayed by this bank. Most important, a lack of accountability. We have only just begun. This is the first step.      Sincerely and Respectfully,   XXXX   XXXX  &  XXXX   XXXX