Mortgage -- Trouble during payment process -- Complaint #4679251
Complaint Overview
Complaint ID: 4679251
Company: Bank Of America, National Association
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Minnesota
ZIP Code: 55411
Date Received: 2021-08-31T12:00:00-05:00
Date Sent to Company: 2021-08-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
XXXX XXXX talked with Bank of America customer service, Escrow account service. Received letter from B of A 1 required minimum balance XXXX.since XXXX up to XXXX, when escrow is short ( Insurance & Property tax mortgage payments increase each year to cover shortage, where is the XXXX and when is it utilized? I was forced to have escrow XXXX. I owed property tax XXXX. B of A demanded mortgage payment to include XXXX & XXXX property tax & insurance for the year, XXXX to be paid immediately, the total was over XXXX. XXXX B of A has not acknowledged payment of XXXX taxes increased amount or XXXX County has not sent a bill to show amount paid. I paid increase amount of Insurance and B of A sent total amount anyway and Insurance company send me a refund. Required minimum balance was not required, because XXXX with escrow accounting put in a request for me that XXXX is, was no longer required. It was approved. I paid the amount that would cover shortages for escrow. XX/XX/XXXX I paid XXXX. I have made these payments and B of A has not added them into the Escrow account or given me credit to keep the mortgage payment. This is the 2nd year I have made payments. The new payment for XXXX is XXXX giving no credit for these payments. I changed insurance company 's B of A paid both of them sending the computer figures back to an increase mortgage payment because escrow was short. MY COMPLAINT MORTGAGE PAYMENTS SHOULD NOT INCREASE, no required minimum bal. .Also B of A has not sent me any monies my escrow account closed XXXX with a bal of XXXX and the payment deductions are inconsistent. XXXX XXXX XXXX XXXX XXXX XXXX B of A has not sent letters acknowledging the dismissal of required minimum bal, or a letter to XXXX county about the payments of tax increase.
Frequently Asked Questions
What is Complaint #4679251 about?
Complaint #4679251 was filed against Bank Of America, National Association regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-08-31T12:00:00-05:00.
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.