Consumer complaint received 2017-12-30
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (NJ)

I am filing a new complaint against Bank of America in response to my initial complaint ID XXXX which I feel was not researched adequately, which in turn, did not address the issue at hand. 


I received a written response from XXXX XXXX, a Resolution Specialist, from Bank of America. 
At the end of this letter, it states that " If you have questions or would like to discuss this situation further, please feel free to call me XXXX XXXX  XXXX, and I 'm available Monday through Friday from XXXX XXXX  to XXXX XXXX. Pacific. '' Since! I have made numerous calls leaving messages for her to please contact me, with no reply. I am now compelled to submit my query through this venue. 

In her response, she states " My research reveals that your application for the XXXX XXXX Agreement was  evaluated and approved under the stated income guidelines in XXXX 2002 ''. She also writes, " We have reviewed your claims of predatory lending. However, our research has uncovered 'NO ' reasonable factual basis to substantiate your claims. 

Therefore, we are unable to address your claim in detail at this time. 

If you wish to pursue this matter further, we will need you to provide factual detail in support of your claim and I will investigate the matter. '' My gross income, at the time, totaled less than {$37000.00} annually ( Soc. Sec. XXXX and Pension XXXX ). What also was not considered was my real estate taxes that were approximately {$15000.00}, home insurance and all other bills related to owning a home. Surely, had all these been considered this credit line of {$200000.00} never should have been approved. I feel I was duped into a 10 year interest only loan which now places me in the position of being unable to make the increased payments which will be more than triple my current monthly payments. 


The documents submitted to CFPB and sent to me by XXXX XXXX do not include a copy of the deed, copy of the stated income guidelines in XXXX 2002 (  which was part of the research that she claims my application was evaluated and approved ), copies of their income verification procedure and what was given by me as proof, copies of the the real estate tax and home insurance bills which were used as part of the loan process needed to secure the loan, and all other paperwork that was used to determine that I was qualified for a {$200000.00} interest only loan. 

I would like to receive these copies to show that, as she claims, her research has uncovered no reasonable factual basis to substantiate predatory lending. 


In fact, what was submitted to CFPB and a copy sent to me was a copy of the original loan from XXXX XXXX. 


Since this homestead is jointly owned, XXXX XXXX research overlooked the fact that the original XXXX XXXX loan was only signed by me. Why would this loan be granted without requiring both owners signatures. This clearly shows that this loan was made without taking the proper precautions of securing the loan and was definitely done through predatory lending.