Bank of America Mortgage Complaint

Bank of America Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting Indiana

I received a piece of rental property in my divorce settlement. However, the mortgage still had my ex-wife 's name on it which I needed to remove. I applied with Bank of America to assume the loan myself in an effort to get my ex-wife 's name removed. Bank of America denied my loan assumption based on the following factors : ( 1 ) Serious delinquencyand public record or collection filed ... this is true ... I did have a home foreclosed on back in -/-/- ... I was under impression based on what I have read that major credit events like this come off your record for credit consideration after 7 years ( 2 ) proportion of credit balances to credit limits was too high ... at time of application, and now, I was using ~14 % of credit available to me ( 3 ) proportion of loan balances to loan amount too high ... I have never missed a payment on any current loans, including the Bank of America loan ... nots sure how I can do more than pay as I am obligated to pay, which I have done ( 4 ) too many inquiries into my


I make $ - plus per year in earnings and have no debt other the mortgage payment for my personal residence, the mortgage payment for the rental home loan I was trying to assume, a small unsecured loan with - and the revolving credit I have out there ... in total less than $2500.00 per month and I have the rental home leased through -/-/- at $550.00 per month. I do n't believe I received a fair review or outcome on the assumption application. I believe Bank of America is trying to bully me into applying for a new mortgage which I do not want to do. I do not believe Bank of America acted in good faith to review all information available to them to make the decision as to whether I was worthy and able to assume the loan.. I have worked extremely hard to get my credit back in good condition after the foreclosure, which was a result of my divorce, and know that I am more than worthy to assume this loan.