Consumer complaint received 2016-06-02 00:00:00
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
Bank of America Loan # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX CA XXXX The XXXX started a loan modification process with Bank of America eight years ago, after XXXX lost her job of 25 years at the XXXX XXXX XXXX XXXX the year before. The Campbells tried to be able to continue making payments on XXXX income, but were not able to do so. The XXXX have worked diligently over the last eight years with Bank of America. Bank of America told them in order to qualify for a loan modification they must stop making their mortgage payments, so they did. When a loan modification was not successful, they started attempts at a short sale. 

Over the past eight years, Bank of America required documents from the XXXX which were provided by the XXXX over and over and over again. Each time Bank of America claimed the documents were never received. The XXXX have even sent the documents requested via overnight delivery and still they were told by Bank of America that they were not received. 

Throughout these years, The XXXX have had a different account manager every few months. Each new account manager forced them to start the process over from the beginning. 

They have also had many willing and able cash buyers, and each time Bank of America found a 'reason ' to intervene and stop a short sale from happening. Each time it was something irrelevant. The latest 'reason ' given was to change XXXX XXXX name on the loan to her 'legal ' name. The home was bought and taken title in the name of XXXX ', and over a decade later Bank of America decided they wanted it changed to XXXX ' ? XXXX XXXX has used the name XXXX ' for 39 years, and only a few months ago Bank of America decided that was not acceptable? Even though the loan and title were taken in the name of XXXX '? This had not even been brought up since the start of this loan mod and short sale process over 8 years ago. After deciding that the name XXXX ' was wrong, Bank of America took 3 months to change all their documents within their system. 

XXXX XXXX has since been placed on permanent XXXX as of XXXX XXXX, and XXXX XXXX had to retire due to health issues in XXXX XXXX. They now have no way to pay the mortgage whatsoever. They have been trying to work with Bank of America. First, by doing a loan modification, then by obtaining cash buyers to complete a short sale. Bank of America required the XXXX to stop making their mortgage payments. Now, 8 years later Bank of America is claiming that the investor, FHA, is refusing to do a short sale stating they have missed too many payments. 

This is ridiculous and not acceptable. BANK OF AMERICA TOLD THE HOMEOWNER TO NOT MAKE PAYMENTS. ( HUD has already caught Bank of America committing this exact same fraud and they were fined XXXX. ) .... And because they missed too many payments, the investor will not review for a short sale. 

It is apparent that Bank of America has been committing servicing fraud on these homeowners and their investors since XX/XX/XXXX. They forced the homeowners to be delinquent so they could collect their 'double ' servicing fee from the investor. 

The XXXX want to do a short sale, and Bank of America has defrauded that opportunity from them. 

When will this stop?

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