Mortgage -- Trouble during payment process -- Complaint #4551889
Complaint Overview
Complaint ID: 4551889
Company: Bank Of America, National Association
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Virginia
ZIP Code: 23462
Date Received: 2021-07-17T12:00:00-05:00
Date Sent to Company: 2021-07-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
This my 3rd complaint with Bank of America concerning the same issue. The original complaint # XXXX was filed on XX/XX/2021. Bank of America refuses to apply my " principal only '' payments to the principal of my mortgage. They have been calculating interest on the wrong principal amount for over a year. Bank of America 's Home Loan customer service department told me any payment I make after my regular mortgage payment and before the next months payment will be applied to " principal only ''. This has not happen. Bank of America says they have no way of knowing what payments apply to principal only.
Frequently Asked Questions
What is Complaint #4551889 about?
Complaint #4551889 was filed against Bank Of America, National Association regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-07-17T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Bank Of America, National Association?
Yes, visit the Bank Of America, National Association company profile at readthecomplaint.com/company/bank-of-america-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.