Bank of America Mortgage Complaint

Bank of America Mortgage department,

Home equity loan or line of credit Loan modification,collection,foreclosure California

Bank of America has made false and or erroneous claims of a pattern of late payments alleging that all my accounts are late. In a letter I received on -/-/- Bank of America said they closed my Bank of America Visa account which was paid off. Record will show that we maintained an excellent credit rating up until -/-/-. The issue is not with all other accounts it is with - account Bank of America Home Equity line of credit. -/-/- I received a letter from Bank of America informing me that my Home Equity line of credit will change from interest only ( approx. $370.00 per month ) payment to principle and interest only ( Approx. $780.00 per month ). I reached out to Bank of America and applied several time for a home loan modification but was rejected because I was current on all my accounts. I have on several occasions requested that Bank of America extend my interest only payments until the value of the home increases which will allow us to refinance our home to reduce our monthly payments. Earlier this year we tried to refinance our home through Bank of America but was turned down because there was not enough value in our home. My First mortgage is current along with all my other accounts. We have continued to make our monthly payment on the B of A Home Equity Line of Credit at the same payment of the interest only amount. Bank of America has turned us down for four home loan modifications. Bank of America customer service staff has threaten to begin foreclosure procedures if the payment are not brought current. I strongly feel that Bank of America is dealing unfairly in their home loan resolutions.