Mortgage -- Trouble during payment process -- Complaint #5377038
Complaint Overview
Complaint ID: 5377038
Company: Bank Of America, National Association
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: New York
ZIP Code: 105XX
Date Received: 2022-03-28T12:00:00-05:00
Date Sent to Company: 2022-03-28T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Bank of America failed to pay my escrowed taxes that were due XX/XX/2022. I contacted them on XX/XX/XXXX, when I was notified by my town that my taxes were unpaid and had accrued a late fee. They opened up a case and I assumed the taxes would be paid immediately along with the late fee. I followed up with several phone calls after that and was told it was being handled. I then received another letter from my town along with an additional late fee early XXXX that taxes were still unpaid. I called Bank of America and was able to get through to a supervisor on XX/XX/XXXX who told me she can not confirm when the taxes would be paid because they still had not gotten any response back from their escrow/tax dept regarding my case. I now had incurred 2 months worth of late fees and asked her to have me removed from escrow and I would pay the taxes myself. She told me this was not a problem and would remove me immediately and I would have my escrow refunded to me in a couple of weeks. There was over {$4000.00} sitting in my escrow and I had to come up with other money to pay my taxes. I find out today ( XX/XX/XXXX ) that the bank sent out a check for my taxes on XX/XX/XXXX to my town. I paid the taxes on XX/XX/XXXX and told them NOT TO PAY MY TAXES. The town will be receiving a duplicate payment and by law has to return the Banks check to them because they paid second. They also did not even send late fees with their payment. Bank of America said I need to keep an eye on my account for when the amount gets refunded from the town back the mortgage account and then only to call and ask for an escrow analysis before they can give me any of my money back. This is Unacceptable! We are hard working people with a child in college. I had to come up with more money to pay my taxes when they already had my money. There is no mention that I will be even getting back the late fees I paid that they incurred! This would have to be a whole different request. I have paid off a couple of other mortgages in the past with other banks and this has never happened. Someone should be held responsible as they should not be allowed to get away with this.
Frequently Asked Questions
What is Complaint #5377038 about?
Complaint #5377038 was filed against Bank Of America, National Association regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-03-28T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with monetary relief". 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.