Consumer complaint received 2025-04-23 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: PA

Complaint narrative:
XXXX XXXX XXXX Submission to CFPB : Timeline and Concerns 1. Initial Agreement and Deferral - Date of Last Payment : XX/XX/XXXX ( the last mortgage payment made ). 
- Deferral Program Initiation : Contact from the bank on XX/XX/XXXX ; signed deferral agreement. 
- Initial Insurance Company Issue : Gave the bank {$5000.00} to resolve escrow account issues. Unclear where the money was allocated. 
- Principal Balance at Time of Initial COVID Deferral : Pre- {$5000.00} payment, {$20000.00}, with an additional escrow balance of {$950.00}. 

2. Original Loan Repayment Plan - Loan Repayment Plan : Initiated on XX/XX/XXXX with payments of {$1000.00} principal and {$340.00} escrow, maturing on XX/XX/XXXX. 
- Payment History : Consistently made overpayments between {$1500.00} and {$1700.00} a month for 15 years. 

3. COVID-19 Impact - Reluctance to Enter Deferral : Hesitant due to the short remaining life of the loan ( 1 year ). 
- Understanding of Terms : Believed the deferment was temporary, with payments added at the end of the loan without additional obligations. 

4. Resumption of Payments - Resumption Notification : Notice to resume payments on XX/XX/XXXX with a reduced payment based on escrow adjustments. 
- Payments Made : Paid {$1600.00} on XX/XX/XXXX and XX/XX/XXXX, and {$1700.00} on XX/XX/XXXX over the phone. 

5. Issues Encountered - Paperwork Lost by Bank : XXXX, unable to make payment over the phone or via BOA account. Bank claimed they did not receive necessary paperwork; requested full payment balance despite consistent communication. Paperwork was sent by them with a prepaid return label. 
- Loan Modification Pressure : XX/XX/XXXX, forced into a loan modification despite being able to make normal payments pre-COVID. Refused to enter another loan agreement. 
- Communication Issues : Bank refused to communicate via email. When I attempted to switch my communication to email, they sent communications through the bank 's website or mortgage account inbox, which I was unable to view because they froze my account after they lost my paperwork. 
- Legal Representation : Due to these issues, I had to hire legal counsel to assist in navigating the situation. 

6. Court Proceedings - Court Appearance : Told to make minimum payments. Assured no risk of losing the home and made aware of payoff date plan by cashing out my retirement plan to cover the life of the loan on XX/XX/XXXX. 
- Next Steps with Bank : Made aware through court to make payments during the trial period of mortgage modification, despite being adamant about not entering another agreement. Signed nothing. Only allowed to pay the {$690.00} payments for XXXX, XXXX, XX/XX/XXXX over the phone. Told I couldnt pay more via customer service or only other option after XX/XX/XXXX was full payoff amount via phone. 
- XX/XX/XXXX, called to make payment for XX/XX/XXXX and wouldnt accept payment. Told to contact lender again. 
- XX/XX/XXXX, received funds to pay off loan and called to pay in full but was unable to because balance increased to {$31000.00}. 

7. Current Situation - Increased Balance : Received XX/XX/XXXX notification that balance had increased to {$45000.00} unexpectedly. Not allowed to pay. 
- Escrow Overpayment : Based on calculations, there should have been an overage of {$3200.00} in the escrow account as of XX/XX/XXXX before the 3 payments of {$690.00} were paid. 
- Impact on Health : Severe mental health strain noted due to the situation and the impact on credit. 
-sale of my home Posted for XXXX XXXX and motion filed to strike and starting finacial audit on bank. So my one year left of loan has now cost me my credit score and more money. Only fault I did was sign the deferment to begin with. But prior to covid I was reluctant but still had faith. 

XXXX XXXX XXXX Conclusion This timeline and accompanying documentation highlight my serious concerns with Bank of America and their handling of my mortgage. I am seeking CFPB 's assistance in rectifying these discrepancies and ensuring fair treatment in resolving this matter. 

Thank you for your attention to this pressing issue.

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