Consumer complaint received 2025-06-27 00:00:00
Product: Mortgage — VA mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX  has a significant contractual relationship with the U.S. Department of Veterans Affairs ( VA ) regarding the management and disposition of Real Estate Owned ( REO ) properties, which are properties the VA acquires as a result of foreclosures on VA-guaranteed loans.

Here 's how their ties work, particularly in relation to purchasing wrongful foreclosure homes from veterans : * Property Management Services : The VA contracts with XXXX to manage these acquired REO properties. This includes a wide range of services such as eviction, property preservation, repairs, tax/HOA management, title work, marketing, offer management, contracts, closing, and invoicing.

XXXX XXXX XXXX XXXX XXXX XXXX : The entire process of managing a VA REO property is housed within XXXX XXXX XXXX XXXX XXXX XXXX This system stores information about former owners ( the borrowers associated with the defaulted loan ), property occupants, and potential/actual purchasers.

* Information Exchange : There's a continuous exchange of information between the VA 's systems ( like XXXX and XXXX ) and XXXX  The VA sends information about properties and former owners to XXXX XXXX XXXX  sends back details regarding title, listings, offers, and invoices. 
* VA Vendee Loan Program : XXXX XXXX XXXX ( an affiliate of XXXX  ) offers a specific financing program called the VA Vendee Loan Program. This program allows qualified borrowers ( including veterans and non-veterans ) to purchase VA-owned REO properties with competitive rates and often little to no money down. This essentially facilitates the sale of properties that the VA has acquired through foreclosure.

Regarding " wrongful foreclosure homes from Veterans '' : It's important to clarify that XXXX XXXX role is primarily in managing and selling properties that have already been foreclosed upon and acquired by the VA. The VA, through its loan guarantee program, aims to help veterans avoid foreclosure in the first place. 
If our foreclosure is deemed wrongful, it would typically involve issues with the loan servicer 's actions before the foreclosure process was completed and the property becomes VA-owned REO. The VA has a strong commitment to helping veterans avoid foreclosure and offers various assistance programs and resources, including : * Foreclosure Avoidance : The VA encourages veterans facing mortgage difficulties to contact their loan servicers immediately and also offers its own VA loan technicians to provide personalized support and explore options like repayment plans, special forbearances, and loan modifications.

* Veterans Affairs Servicing Purchase ( VASP ) Program : This program ( though recently undergoing changes ) allowed the VA to purchase delinquent loans from servicers, becoming the primary loan servicer to provide veterans with a stable payment plan and prevent foreclosure.

* Legal Action : There have been instances where veterans have filed lawsuits regarding wrongful foreclosures, particularly after certain VA forbearance programs ended.We are seeking a wrongful Forclosure do to strong evidence that has been presented in the fullness of the life of the Loan While XXXX  plays a crucial role in the post-foreclosure process for VA-acquired properties, their direct involvement isn't in the prevention or resolution of " wrongful foreclosures '' themselves. That responsibility largely falls on the VA 's loan guaranty program, the loan servicers, and potentially legal avenues for veterans.We have already reached out to the VA OIG and we have been told that the entire project will be thoroughly Based on the evidence presentation this is a colossal issue that may impact the whole VA NOTICE WRITTEN Process

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