Consumer complaint received 2016-04-25
Product: Mortgage — Other mortgage
Issue: Loan modification,collection,foreclosure — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (PA)

XXXX XXXX, XXXX XXXX : XXXX XXXX!! 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Predatory Loan with Countrywide/Now Bank Of America Loan Number # XXXX To Whom It May Concern, Hello my name is XXXX XXXX I 'm a XXXX XXXX XXXX man, married for 17 years with XXXX children and a grandchild. Here is my story, I 'm seeking help from anyone that can help me live my life again since countrywide stole it from me in XXXX. I came to XXXX to live a life of hard work and honesty! XXXX Blessed me to find a wife to share my life with 22 years ago and I work hard daily to make her dream come a reality. In XXXX my wife wanted to move to XXXX so Our XXXX children could get away from the crime and gang activities that was in the XXXX. Having XXXX girl and XXXX boys we did n't want to lose them to the streets. We found a builder and what we believe to be a good lender. I was advised I must get a construction loan that would convert to a regular loan once the home was built. I brought my land for {$39000.00} cash, so countrywide said I could use that for down payment. So my down payment was {$39000.00}. After the construction was finish it was time to convert the loan. Countrywide rep call me and stated to me that due to high interest rate our payments would be a little more than {$3000.00} a month which was a shocker to us especially being that we made no payment during the construction process! I was told we would n't have high payment because we put so much down. Then the rep then went on to explain, if I take an interest only loan and wait for a few months that I can refinance the house because of the market it would go up and I can get a lower payment with both interest and principal. This was the first time I ever brought a house I did n't know what was right from wrong. So I closed on the house. A few months later I call countrywide to refinance like I was told. They sent out an appraiser, he said he love the house but whoever I got to appraise the house the first time for the loan to get their company to do it again. He went on to say that our house was not worth {$400000.00} and there was no house in the neighborhood that was. He appraised the house for {$320000.00}. Which was a shocker due to the fact the housing market crash did n't happen as of yet and we was already upside down with our mortgage. We ask countrywide for an explanations and they said they would get back to me, but that never happen and then all our nightmares began. When President XXXX started the help for home owner, I applied and was told that I made too much money. Then the stock market fell and all XXXX broke loose. My job cut my hours, I try to apply for help again and was told I did n't make enough. What! Wait you still do n't want to help us! I was able to get a modification then after a while the rate went up and started to increase our payments slightly but in XXXX XXXX, XXXX my youngest son went to the hospital and was told he had a XXXX but a day later he started to turn for the worst and my wife took him back to the hospital just to find out he had XXXX XXXX and had to be flow to a children hospital and stay in the hospital over a week. He was out of school until XXXX XXXX and still is recovering from the side effects. And due to my son getting sick we lost half of our income because my wife had to stay home with him. I applied for assistant with BOA again and first we was denied but I received a letter from BOA stating that some people with loan from countrywide would get a principal reduction we were so excited about this. Then BOA rapidly gave us help and lower our payment {$300.00}. That was n't much but it took the money we owed due to my wife not working and my son being sick to be put on the back of the l