Consumer complaint received 2016-07-20
Product: Mortgage — FHA mortgage
Issue: Loan modification,collection,foreclosure — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

CFPB Complaint XXXX XXXX, XXXX Bank of America Loan # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX FL XXXX ( XXXX ) XXXX To whom it may concern I am filing a complaint against Bank of America in regards to a permanent loan modification that I received on XXXX XXXX, XXXX and several other issues that I have with my mortgage. These issues are reflecting on information that I have previously submitted to CFPB under case # XXXX dated XXXX XXXX, XXXX which I would also like to be used in this case as well. I have also submitted new information regarding this case too. Please refer back to case # XXXX for more information on this case. 

I was offered a permanent loan modification on XXXX XXXX, XXXX in the amount of {$1000.00} which did n't show a breakdown of months of delinquency and how did BOA come up with final figures of the permanent loan modification. BOA shows an escrow of {$410.00} and my P & I {$600.00}. I have a homeowner insurance policy statement for XXXX in the amount of {$1900.00} and for my XXXX tax statement is {$1500.00}. The escrow for taxes and insurance is {$3400.00} and the monthly payment is {$280.00}. This would give me a monthly mortgage payment of {$890.00}. I would like to know what is the additional amount of {$120.00} is for. 

I had received a letter from BOA dated XXXX/XXXX/XXXX stating that I was no longer in a flood zone and flood insurance was no longer required for my property. On XXXX/XXXX/XXXX my insurance agent had sent a letter of cancellation to BOA. I had thought that my flood insurance was canceled. When I had applied for another loan modification I had advised BOA Loan Representative XXXX XXXX XXXX about my flood insurance issue. He sent me another letter of cancellation of flood insurance that was dated XXXX/XXXX/XXXX because he did n't see where it had been canceled. I signed the letter and sent it back. When I had received my trail loan modification in the amount of {$960.00} starting XXXX I had notice that the flood was still not canceled. I had advised XXXX XXXX XXXX that if the flood was removed then my payments would be lower. He advised that I could make the trial payments but he ca n't guarantee that my payments would n't change. I felt like it was n't fair that BOA is charging me for insurance that has been canceled since XXXX/XXXX/XXXX. In XXXX I asked if I can just do the loan modification and I will see if BOA will correct the insurance. XXXX XXXX XXXX advised that the loan modification had already canceled. I asked him to talk to his manager and see what he can do. He did but it was canceled. XXXX XXXX XXXX advised me to re-apply for another loan modification and that the flood insurance should be removed. So I had re- ( r applied again. This time my payments were higher than before and the flood insurance was not removed once again. The new loan modification was {$1000.00} and started XX/XX/XXXX-XX/XX/XXXX I was upset. I had contact XXXX XXXX for help with the loan modification that was offered. They advised me that my loan payments should have been {$930.00} according to my income. They contact BOA to try to get the loan modification corrected. Now at this time my loan has gone to foreclosure. I could n't understand if the trial payment of {$960.00} had canceled why on the billing statements it was still accepting payments for that amount from XX/XX/XXXX-XX/XX/XXXX. So it had not canceled like I was advised by BOA. I have also provided documentations for the cancellation of the flood insurance and trial loan modifications. ( Refer to CFPB case # XXXX documents for information ). 

Bank of America stated that I was approved for a modification in XXXX XXXX, XXXX in the amount of {$1000.00} starting XX/XX/XXXX-XX/XX/XXXX at the time of this approval I had a decrease in my income which made the loan modification no longer affordable. Bank of America stated that I was o