Consumer complaint received 2018-10-03
Product: Mortgage — Other type of mortgage
Issue: Struggling to pay mortgage — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (TX)

As I write this I'm still in disbelief over the events of the past year that have led to my home being listed for foreclosure/trustee sale in less than 30 days. A foreclosure would not only be devastating to my family, but it would also impact the families living around me by further dropping property values already suffering from XXXX XXXX levels. 

Below is a timeline of events : XX/XX/XXXX my home loan is current, no late payments since XXXX when I had an accidental over site and the account went 30 days late. Prior to this I had not had a late payment since XXXX. 

XX/XX/XXXX Bank of America reaches ( BoA ) out regarding a special disaster forbearance available. The BOA representative said I qualify for the program and I would not need to make mortgage payments for 3 months. He explained the agreement could be extended in 3-month intervals for up to a year and the missed payments would be added to the end of my loan. 

XX/XX/XXXX A BoA representative calls me and said the 3 months of payments need to be paid in full or I could extend an additional 3 months. I explained that I was told the payments would be added to the end of the loan and not need to be repaid all at once. He said they didnt have any options to add payments to the end of the loan at that time, but they were working on additional options which may be available at the end of 3 months. I put repairs to my property from the flood on hold. We have significant damage to our dock, boatlift and bulkhead which was not covered by insurance. 

XX/XX/XXXX BoA representative said I no longer have the option to extend the payments or add payments to the end of the loan. He stated I would need to pay the 6 months of missed payments in a lump sum or apply for a loan modification. He agreed I was initially told the special forbearance could be extended for up to a year but due to a directive from upper management they could no longer extend. He said he would have a manager call me but no one ever did. In the midst of this, I decided to start recording my conversations with BoA when possible. 

XX/XX/XXXX I called BoA and started the modification process. Again, its explained to me this would put the past due amount at the end of the loan XX/XX/XXXX I file a complaint with the CFPB due to the misleading communication by BoA. I was in shock a corporation as large as BoA would deceive their customers experiencing hardship as a result of a disaster. On XX/XX/XXXX, BoA sends a letter regarding my inquiry with the CFPB, stating the forbearance plan notices state any portion of your monthly payments which you are not required to pay during the period will become due and payment upon conclusion of the forbearance plan unless you have reached an agreement with us or other arrangement before that time the letter also stated they could not locate any conversation in the system in which I was informed extensions of additional forbearances would be granted. ( I do have this recorded conversation ) and, of course, I thought the verbal conversations with BoA reps were other arrangements. 

XX/XX/XXXX Receive congratulations notice from BoA that Im approved for a trial modification. Trial monthly payments are {$470.00} higher per month compared to same time the year prior and started XX/XX/XXXX. I was not expecting a payment increase. I told BoA I couldnt afford this payment and didnt understand the calculations. I was told a manager would reach out to help explain. I received a call from XXXX XXXX, a manager with BoA. He called my cell phone and I was unable to record. Mr. XXXX discussed having the modification re-reviewed, specifically escrow shortage figures which appeared to be duplicated. He said I may be able to go back to the initial 30-year term, which would decrease the payment. He said adding the payments to the end of the loan wasnt an option. He advised me not to make the trail modification payments if I couldnt afford them because the perm modification payment would be very similar. He said he would get back to me. I left numerous messages for Mr. XXXX after that conversation and never heard back. 

XX/XX/XXXX I faxed the number on the trail modification letter ( XXXX ) with a letter explaining my conversation with Mr. XXXX as to why I wasnt making the trail payments. I also called BoA and spoke with a representative explaining my conversation with Mr. XXXX. I asked the rep to please have Mr. XXXX call me back. I kept leaving messages with Mr. XXXX. 

XX/XX/XXXX received a letter from BoA that Im no longer eligible for the modification due to the missed trail payment. The letter stated there were possible options to avoid foreclosure like Short Sale and Deed in Lieu. I contacted my case manager ( XXXX XXXX ) and he directed me to the BoA appeals/audit department to understand the figures and how the trail payments were calculated. The BoA appeals dept said they couldn't help and referred me back to the case manager and then transferred me to Mr. XXXX voice mail again. 

XX/XX/XXXX contacted BoA regarding my options to keep my home. BoA suggested I apply again for a loan modification. On XX/XX/XXXX I started the modification process again, due date for all docs is XX/XX/XXXX. 

XXXX XX/XX/XXXX received notice from BoA that the modification submission complete and in review. XX/XX/XXXX BoA called for additional documents. XX/XX/XXXX received Notice of Trustee Sale from XXXX XXXX XXXX with a sale date of XX/XX/XXXX. 

XX/XX/XXXX spoke with BoA and confirmed they have received all needed documents for review of the modification. They said there is nothing I can do at this time to postpone the foreclosure sale date and to " check back ''. 

I realize how very fortunate I am compared to the devastation others faced due to the hurricane. I truly, truly appreciate anything you can do to help me keep my home.