Consumer complaint received 2025-10-02 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, Texas XXXXXXXX XXXX XXXX  Subject : * * Dispute of Debt and Request for Validation Dear Sir/Madam, I am writing to formally dispute the debt referenced in your letter dated XX/XX/XXXX, concerning the foreclosure proceedings initiated by the XXXX XXXX XXXX XXXX XXXX XXXX XXXX trustee for certificate holders of the XXXX, XXXX XXXX XXXX XXXX, associated with loan number XXXX. I received your letter on XX/XX/XXXX, and, despite the limited time frame, I am responding promptly to address the issues outlined below. 

* * Disputed Debt Amount : * * The stated debt amount of {$540000.00} is contested due to the following discrepancies : XXXX. * * Incorrect Loan Balance Transfer : * * XXXX Bank of America 's acquisition of my original mortgage from Countrywide XXXX, my loan balance inexplicably increased from {$390000.00} to {$590000.00}. This substantial increase lacks justification and transparency. 

XXXX. * * Uncredited Payments : * * The XXXX years of payments made to Countrywide XXXX  prior to the transfer were not credited to my account by Bank of America, resulting in an inaccurate outstanding balance. 

XXXX. * * Escrow Account Mismanagement : * * In XXXX, my monthly mortgage payment was increased from {$2000.00} to {$6000.00} due to an alleged escrow shortage. This shortage was caused by the XXXX XXXX XXXX XXXX XXXX 's failure to apply my homestead exemption for the years XXXX, leading to an overcharge of over {$15000.00}. I have obtained a letter from the XXXX XXXX confirming this error. 

XXXX. * * XXXX XXXX : * * Following the Texas flood XXXX XXXX, my home insurance policy with XXXX was XXXX terminated during a pending lawsuit. Subsequently, Bank of America placed additional insurance on my property without proper notification, further inflating my escrow payments. 

XXXX. * * Settlement Funds Withheld by Bank of America : * * Bank of America is currently holding an additional {$30000.00} from my court settlement and will not release these funds until proof of all needed repairs has been completed. However, the final amount paid to me by my attorneys from the settlement was less than XXXX-XXXX of the repair costs quoted to XXXX by XXXX separate general contractors. I am unable to complete the necessary repairs with these insufficient funds. 

To date, I have had XXXX XXXX from Bank of America review the work my son and I have managed to complete on our own, and he was very impressed. Despite this, only half of the settlement was released. I now have no money or credit to finish the remaining essential repairs to my home, including electrical, foundation, drywall, ceiling, and cabinetry. Bank of America will not release the remaining funds until all work is completed, leaving me in an impossible situation. 

XXXX. * * Foreclosure Threat and Financial Hardship : * * Due to these issues, I am now facing foreclosure. My mortgage payment has increased from approximately {$1700.00} to over {$6000.00} per month due to escrow errors and lender-placed insurance. Without access to the full settlement funds, and with my credit severely damaged by inaccurate reporting, I have no means to complete necessary repairs, pay the inflated mortgage, or obtain alternative financing or insurance. 

The lender-placed homeowners insurance is extremely expensive. Because of my low credit scorecaused by Bank of America 's reporting of late or missed payments and XXXX refusal to re-insure XXXX have been unable to obtain affordable insurance elsewhere. The last quotes I received, from XXXX and XXXX, were over {$8000.00} a month, which is entirely unaffordable. 

* * Request for Debt Validation : * * In accordance with the Fair Debt Collection Practices Act ( FDCPA ), I request the following information : - A detailed breakdown of the debt amount, including the original loan balance, payments made, interest accrued, fees, and any adjustments. 
- Documentation supporting the increase in loan balance from {$390000.00} to {$590000.00} upon transfer from Countrywide XXXX. 
- Records of all payments made to Countrywide XXXX and their application to my account. 
- An itemized statement of the escrow account, including charges for taxes and insurance, and any adjustments made due to the homestead exemption error. 
- Documentation related to the forced-placed insurance, including notifications sent and the policy details. 
- Clear explanation regarding the withholding of settlement funds and Bank of America 's policy on fund releases in relation to completion of repairs. 

* * Notice of Error : * * I am also submitting a Notice XXXX XXXX XXXX Bank of America, detailing the discrepancies mentioned above. According to Bank of America 's Home Loan Assistance FAQs, such notices should be mailed to : Bank of America XXXX : Notice XXXX XXXX XXXX XXXX for XXXX XXXX. XXXX XXXX XXXX XXXX, CA XXXXXXXX XXXX XXXX Conclusion : * * Given the complexities and errors associated with this debt, and the financial hardship created by Bank of Americas practices and policies, I request that all foreclosure proceedings be halted until these matters are thoroughly investigated and resolved. I also request a written response addressing each of the points raised above. 

Please acknowledge receipt of this dispute letter and provide the requested information within the legally mandated time frame. 

Sincerely,

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation