Mortgage -- Struggling to pay mortgage -- Complaint #4626479
Complaint Overview
Complaint ID: 4626479
Company: Bank Of America, National Association
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Struggling to pay mortgage
State: California
ZIP Code: 90042
Date Received: 2021-08-12T12:00:00-05:00
Date Sent to Company: 2021-08-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I have a mortgage with Bank of America. I am currently on a forbearance due to pandemic hardships. I applied for a loan modification. During the process several documents were lost, my case was mixed up with another customer who was under bankruptcy. Several critical errors were made including miscalculation of my monthly income. My modification was eventually denied on XX/XX/XXXX due to my monthly income being too low. Bank of America states my income is {$4000.00}. This is NOT my monthly income. It is substantially higher and I have submitted required proof of this to B of A. B of A is refusing to provide any documentation of how they determined or arrived at this figure. B of A is refusing to provide verbal confirmation of how they arrived at this figure. I appealed the decision on XX/XX/2021 within the required timeframe to do so. Bank of America did not once call me to verify if the documents on file for my income were correct. Bank of America did not verbally or in writing request any type of resubmission of documents to substantiate that my income is in fact higher than what is currently being calculated by B of A. On XX/XX/2021, B of A denied my appeal by only stating that my income of {$4000.00} is too low to qualify for a loan modification. But again, that is not my monthly income and I can prove it and have done so. There must be transparency in this procedure. B of A could be selectively choosing which income documents the use to yield a lower monthly income and deny me. Bank of America could be missing critical income documents that show my full monthly income since there is more than one source of income. Again without transparency, I dont know and my right to seek a modification and adequately represent myself is being violated. Also without transparency and full disclosure on the part of Bank of America or any bank, it opens the door for fraudulent denials. No corporation should be allowed to act without merit at anytime but more so should be held to even higher standards during a pandemic.
Frequently Asked Questions
What is Complaint #4626479 about?
Complaint #4626479 was filed against Bank Of America, National Association regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2021-08-12T12:00:00-05:00.
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.