Consumer complaint received 2024-11-06 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MD

Complaint narrative:
I am writing to formally address Bank of America 's role in the mishandling of my late father, XXXXXXXX XXXX XXXX XXXX XXXX mortgage following his passing in XX/XX/XXXX. As the Personal Representative of his estate and a successor in interest to his property at XXXX XXXX XXXX XXXX, XXXX, MD XXXX, alongside my mother, XXXX XXXX XXXX, I have faced substantial and unjust obstacles imposed by both Bank of America and XXXXXXXX XXXX XXXX 
Despite complying with all legal requirements to assume the mortgage, both institutions have systematically obstructed our efforts to safeguard this property. Specifically, in XX/XX/XXXX, Bank of America approved me for a loan modification trial plan, which I complied with by making all required payments from XXXX to XX/XX/XXXX. However, without proper notification, as mandated by the Truth in Lending Act ( TILA ) and the Real Estate Settlement Procedures Act ( RESPA ), Bank of America transferred the loan to XXXXXXXX XXXX XXXXXXXX. This transfer was followed by an erroneous claim from Bank of America that no payments had been made since XX/XX/XXXX, despite their acceptance of all my trial payments. 

This misleading information directly led to XXXXXXXX XXXX XXXX  issuing a Notice of Intent to Foreclose in XX/XX/XXXX, falsely alleging non-payment. Compounding these issues, XXXX has repeatedly refused to acknowledge my status as a successor in interest, despite being provided with sufficient documentation on numerous occasions. Attempts to make additional payments were also blocked, with XXXX citing the incomplete loan transfer as the reason. 
These events have had severe implications, including agents sent to the property and ongoing foreclosure threats from XXXX legal counsel, despite their stated commitment to pause collection activities for investigation purposes. 

I have reason to believe that XXXX bias may underlie these issues. XXXX homeowners like myself have historically faced disproportionate challenges in securing their rights as successors in interest, as evidenced by data showing higher foreclosure rates and greater difficulty obtaining loan modifications compared to white homeowners. This discriminatory pattern seems apparent in my case, where both institutions have refused to honor my valid loan modification and recognize my legal standing. 

Furthermore, the significant difference between my homes market value, which is nearly three times the mortgage balance, suggests financial motivations behind these aggressive foreclosure actions. Both Bank of America and XXXX XXXX XXXXXXXX appear to be acting in their financial interests at the expense of my legal rights and compliance. 

I am actively filing a Motion to Stay Foreclosure in the XXXX XXXX of XXXX XXXX to allow for a comprehensive investigation. I call on the CFPB to rigorously investigate these actions, uphold my rights as a successor in interest, and halt this unjust foreclosure 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 non-monetary relief