Bank of America Mortgage Complaint

Bank of America Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure California

We recently we received our discharge of bankruptcy in - 2016. Shortly after receiving the discharge, we received notification from Bank of America that they will be increasing our mortgage payment from $1700.00 to $3200.00. We contacted BOA to either refinance or obtain a loan modification. We were told since we just completed a bankruptcy they could not offer us an option to refinance our home for another 2 years, so we opted for the loan modification. After completing their process, they submitted to us their version of a loan modification. They sent us a congratulations letter stating we were approved for a monthly amount of $3200.00. We asked for them to re-evaluate their figures. We can understand they need to accommodate their investors by receiving both principle and interest. Since we know this is an investor situation because BOA does n't even hold the Deed of Trust on our property and neither does their subsidiaries. At some point they purchased our loan, because it was a predatory loan.