Complaint Review: Bank Of America (BOA) - Fort Worth Texas

June 11, 2010

Lithonia Ga. 30038

 I am Burknell S, a resident of the above mentioned address, and a mortgagee with Bank of America (BOA )since 2008 . I have an impressive payment history with BOA, which includes; no prior late payments and two advanced payments of five and six months respectively.

 I was late on my mortgage in July of 2009 and I began to get calls from Bank of America. On one of the occasions it was an automated system informing me that I could qualify for a loan modification. I was also given an eight hundred number  to call for further information.  I called the number and spoke to a customer service representative  who took my information and formalized a tentative work-out payment of  $450:00,   payable on the first of the month,  for three consecutive months.  I was informed by the representative that the trial period would begin immediately ( July 09 expiring September 09) and that he would mail me a package.

 I later called BOA, Making Homes Affordable department to follow up on my case, and was informed that there was no record of me having a trial work-out in place . I was shocked. I told Mark ( the representative at Bank of America to whom I spoke)  that I  did everything I was told to do so there is obviously a misunderstanding. The  representative (Mark)  then told me that he would start the work-out trial  on October the 1st. He also informed me that the trial would expired in December, and following that it would take 2-3 weeks to hear what decision was made in my case.

I did everything Bank of America requested. It is now eight months later, and following monthly enquires, and a mounting unpaid balance plus interesting in the amount of $5368,  I am now being told by Bank of America that they cannot offer me an adjustment and I need to start making the full payments immediately. I was also informed that even if I  pay the full monthly payments.  Bank of America will still advance forclosure proceeding if the unpaid balance of $5368 is not paid in full. I do not have that kind of money. I am a single parent struggling to pay my bills.  I am scared out of my mind of not having a home for my child and myself to live.  How did I get from being one month late to now several months in arrears?  I only missed one monthly payment and did every thing my mortgage company asked me to do and now they are treatening to take my home. Bank of America  told me they would help me and this is the outcome. BOA is attempting to take my home.  I have received numerous letters threatening foreclosure and  one dated November 09, stating a foreclosure date of  second Tuesday in January of 2010, at which time my home was to be auctioned (this in the middle of my so-called work-out).

 I feel hopeless; Bank of America Mortgage Company manipulating the  system to mount up excessive late charges, lengthy application process and  disseminating  misleading and conflicting information to frustrate home owners into submission. The bank leaves me with no other alternative but to seek an intervention in an effort to protect my property  from the bureaucracies that have  me and millions of Americans in a head and throat lock. 

I feel as if I was taking for a ride by my mortgage company and abandoned at sea without a life raft or even a vest.  I am very scared what the future holds for my child and me. 

Loan #179811224