Consumer complaint received 2025-04-27 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA

Complaint narrative:
investigations for collusion and equity theft : Bank of America has foreclosed my property despite promising of loan modification to a fake investment company called XXXX XXXX for {$220000.00}, while property value is {>= $1,000,000}. Bank of Americas loan was HELOC and junior to primary mortgage while I had {$380000.00}, primary mortgage by XXXX XXXX and the mortgage with primary mortgage was up-to-date. XXXX has not received and notification about the foreclosure proceeding in 3 months of settlement of foreclosure. In Virginia it is required that the foreclosing party should pay off primary loan within 90 days of settlement of funds, which XXXX XXXX ( foreclosing party ) have not paid that. Bank of America foreclosed the property on XX/XX/XXXX and the auction starting bid was XXXX XXXX while the property value is $ XXXX. As result of this foreclose now I ( the foreclosed owner ), I owe on the note {$360000.00} while I dont even own the deed and the deed has been transferred to XXXX XXXX XXXX Bank of America has caused irreparable damage to me, while I was able to pay that original $ XXXX HELOC and I was in an active modification process with Bank of America. 
My primary loan is with XXXX XXXX. 
It is worth mentioning this foreclosure happened during an active CFPB, which this foreclosure and before any response filing for me which in itself only this fact is considered a retaliation act against me for previous disclosures. 
Some other facts : I have XXXX XXXX XXXX mortgage that was serviced by XXXX XXXX on my property located XXXX XXXX XXXX, XXXX VA XXXX, has been in COVID forbearance since the start of the Pandemic. I had Bank of America XXXX, in the amount of {$130000.00}. XXXX XXXX and Bank of America teamed up and foreclosed the property without providing the opportunity to do a modification. I had been approved for HAF fund that was not disbursed beacuse XXXX did not provide support and did not cooperate to complete the process. XXXX did not act in timely manner to stop the Bank of America, which is second in XXXX and is subordinated, despite my concerns about the fact that Bank of America has the intention to foreclose on the property. I was repeatedly told by Mr.Cooper that they dont have any information about Bank of Americas plan to foreclose. My property was on active foreclosure listing, after my frequent calls Bank of America on XXXX, XXXX XXXX told me that they have canceled the foreclosure and there is no future sale date. In the end of the XXXX I received a notice by Sheriffs office that I am evicted, because the property has foreclosed. I called XXXX if they know about the foreclosure, I was told it can not happening because I am current on my loan. I was keep telling XXXX, that I am being evictedXXXX XXXX was denied for almost four months that they knew the property is foreclosed on by Bank of America. I opened a file with XXXX XXXX. I was assigned a case manager named XXXX. XXXX XXXX disclosed to me that only information provided to XXXX XXXX was that, in XXXX XXXX was paid {$140000.00} under your loan number and XXXX brought your account current using that money, with assumption that you have paid such a big lump-sum. I asked XXXX XXXX if, XXXX is investing or sourcing if someone paying such a big amount under a loan holders name? He said the information he has, is that a company called XXXX XXXX XXXX made that payment on your behalf and XXXX doesnt have any information if this money was from settlement of your foreclosed property or some other transaction. I objected and said what if this is dark money or drug money pouring in under my account, without my knowledge? He was surprised why XXXX was in denial, while they could have checked XXXX XXXX site to see if the ownership and Deed has changed. He said after XXXX XXXX researched and XXXX  documents, they are aware of the ownership change in the title. I said how is it possible that XXXX and XXXX, make a payment under my loan for another entity who claims now they owned the property called XXXX XXXX with fake address on their internet. He made few suggestion one was like may be they opened your mailbox which doesnt have a lock ( street mail box ) and took your statement and submit a payment under your name, which is a mailing fraud or forwarded the mail under their name and get your mails to their address. But my question was how one entity is paying for another entity such a big amount and servicer doesnt ask any question? I asked if XXXX XXXX allows that? What if XXXX already made a settlement with Bank of America XXXX to accept that $ XXXX and XXXX was lying to me all along? He told me whoever foreclosed the property had until XXXX, XXXX XXXX ( 90 days after settlement ) to pay XXXX the full amount. He said now that timeline has passed and XXXX XXXX cant reinstate the loan. He said that, why one entity pays for another and if XXXX made under table agreement, without XXXX XXXX consent, is something that I can file a fraud tip, for investigation. But he assured me that, XXXX will not accept less than the loan amount and will foreclose on XXXX XXXX. I also, clarified, whatever outcome is I am interested to keep the property, since the entire transfer of title and change of ownership was fraudulent. But the fact that the XXXX worth property sold for $ XXXX or so is unbelievable and the fact that XXXX was ignoring my concerns definitely raise concerns about big bank fraud.

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