Consumer complaint received 2021-06-23
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

On XX/XX/XXXX I started the application process for a mortgage with Bank of America. I applied with this bank because Ive banked with them for over 10 years and they stated I qualified for two grants which helped with down payment and closing cost. The application process was extremely difficult and frustrating due to my file being passed around multiple times. The communication was the worse communication Ive ever experienced with any company. Originally my application was with a man named XXXX XXXX. He went on vacation then a woman named XXXX XXXX took over. She had generated a pre qualification. I found a place I had liked and wanted to continue with the application process however XXXX then went on medical leave. After many emails and calls I got a hold of her co worker XXXX XXXX in order to try to see what the next step was. XXXX then went on vacation and XXXX return date was unknown. I tried reaching back out to XXXX but it seemed as if he wanted nothing to do with my file. I called customer service they gave me the number to the manger name XXXX XXXX but the mailbox was full and never got a response to the email I sent to this person. Finally I emailed someone else who was covering XXXX on the manger side named XXXX XXXX. Briefly explained what had been going on and he assigned my last mortgage lender employee XXXX XXXX to my file. After running my credit on XX/XX/XXXX it was now XX/XX/XXXX when the application process started moving along again. On XX/XX/XXXX is when my offer on a condo was accepted. My realtor and I attempted to close on XX/XX/XXXX however XXXX needed til XX/XX/XXXX to close. The seller accepted the extension. I sent everything needed for the approval process and appeared to be no issues throughout the process. XXXX mention what was going to take place during the process, mentioned the appraisal and that the XXXX for the condo would need approval ; the same approval all condos needed when lending from BOA. I didnt think anything of it. There had been other condos in that community that have been selling. I send my cash to close and receive a closing disclosure. The title company sent me the XXXX statement for all the numbers for closing. I forward my mail, transferred job locations, started setting up transfer for utilities etc. Its the day of closing and we still do not have a clear to close from my lender. The title company and both realtors advised XXXX was being unresponsive. I get a hold of him and he advised me that the XXXX project review was still pending and they needed a few more days. This was on Tuesday XX/XX/XXXX. On XX/XX/XXXX my realtor tries to get another update ( with many attempts in between that ) and we get an automatic email response stating he will be out the office til XX/XX/XXXX. My lease for my apartment expired on XX/XX/XXXX. This had left me without a home! Many times I had advised him I was running out of time. Starting this process in XXXX and to now be left without a home. This had also took us passed our timeframe in the executed contract and leaves me without my earnest money. The seller does not want to even negotiate me getting have of it back. On XX/XX/XXXX I go into a local Bank of America and spoke with a woman named XXXX XXXX XXXX. She was very professional and tried to help as much as she could. She got me on the phone with a XXXX named XXXX XXXX. He told me the project review could not be approved due to the XXXX having unaccepted reserve budget. When XXXX returned he had told me the same. Because this was not determined in a timely manner I lose my {$1500.00} from escrow. Not to mention the {$590.00} for appraisal and {$250.00} for inspection. I understand these things happen however the lack of communication is extremely frustrating. Everything that was asked of me I complied almost immediately. During the entire process it felt as if everyone who worked on my file just wanted me to give up and walk away from the application. I dont understand why it took so long for BOA to decide the XXXX didnt meet budget requirements or at least say they need to extend the closing date. Completely left me high and dry. Still til this day, XX/XX/XXXX I dont have an official document stating the loan was denied. Only my emails from XXXX and XXXX. This has been a nightmare of an experience. Now Im in between homes and out {$2300.00} for no reason of my own.