Consumer complaint received 2016-10-11
Product: Mortgage — FHA mortgage
Issue: Settlement process and costs — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (NH)

We purchased our home XXXX XXXX. The mortgage that was given to us from XXXX had XXXX parts. One of them was a fixed mortgage and the other had a 2 year ARM. When we went to refinance at the end of the 2 year we had discovered that it was 50 year mortgage with a balloon payment of {$250000.00}. We had no idea. In hind sight, at the closing we briefly saw the amortization schedule and asked about it but we were told " oh you do not want to see that it will just make you sick if you see all the interest that you will be paying '' This is the first house we ever purchased so we did n't question it. If we had been encouraged to look at it and given the opportunity to ask questions we would not be in this situation. 
We refinanced with a local bank, XXXX, which in turn was sold the mortgage to Bank of America. In XX/XX/XXXX I, XXXX, lost my job. We applied for a modification with BoA. Like many others we had sent in our " financials '' ( taxes, bank statements, pay stubs, utility bills, and hardship letter ). We sent it to them at least 10 times. It kept getting " lost '' or " not received ''. We had to file Chapter XXXX to stop them from foreclosing. XXXX XXXX we began a " trial modification ''. XXXX XXXX we got a permanent modification. We were paying on time at a comfortable payment. XXXX XXXX BoA sold our mortgage to XXXX XXXX XXXX. 
XXXX told us everything will remain the same. After our first payment we received a letter stating that they our payment was going up because our escrow had a deficit. I have the escrow report from BoA showing that we did not have deficit. I faxed it to XXXX upon their request. 
I was told by both companies that I had to call the other. XXXX kept telling me that they had to go by what BoA reported to them. They would tell me to call BoA. I would call BoA and they would tell me they no longer service our mortgage and they could n't help us we had to call XXXX. 
XXXX will not accept payments from us. They accepted sporadic payments ( 5 ). Thus leaving us in arears. 
After reading through the RESPA-CFPB Consumer Laws and Regulations it appears the both companies have not adhered to the laws and regulations. On many of the regulations. 
We have an acquaintance here in town who is an attorney and we asked her if she could help. She specializes in XXXX but said she would try to help. She sent a letter which turned into another letter and then another. Here we are 2 years later ( well past the 30 day period allotted after a qualified written request was submitted by my attorney ). She has been going back and forth with both companies. We had an agreement that we signed and sent along with a certified bank check about a year ago. XXXX sent the package back to us with no explanation. There have been other agreements sent to us but the language in the agreements were protecting XXXX and not us. 
I have placed complaints to the Banking Commission, FDIC, OCC, Attorney General, XXXX, Senator XXXX 's Office. I reached out to anyone who would listen. This is affecting not only XXXX and I but our children. I have looked on the consumer affairs website and see many people in the same or similar situations. 
I have kept records of every letter, statement, certified mail receipt, etc. from XX/XX/XXXX to date. 
We would like to resolve this and move forward. Ultimately, we would like to be absolved of any and all debt from BoA and XXXX. After almost 7 years of XXXX and frustration we feel that it is a fair resolution. 
We look forward to speaking to you. 
Sincerely, XXXX and XXXX XXXX