Bank of America Mortgage Complaint

Bank of America Mortgage department,

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

This is to replace case # -. I made an error on the account number. Bank of America just filed a Notice of Default and is threatening foreclosure against my property for a HELOC. In - of -, my HELOC payments nearly tripled after paying on the loan for 10 years. I called Bank of America immediately to see I I could refinance. I was told I was not eligible. I made partial payments for a few months and then started the modification process. While I was in the modification process, they would not accept payments. The process went on for approximately five months. During that time, I faxed every piece of information they asked for, most multiple times. In the end, they denied me any type of modification, stating that I earn too much for some modifications and too little for other modifications ( I am a - and single mother ). I tried offering a settlement, but that was also rejected. When I


I could n't believe what I was hearing. I actually owe $320000.00 on my first, and I had written that in numerous letters, and I had disclosed my mortgage statement with the payoff amount ( my loan has a $150000.00 balloon payment ). I told her that, but I suspect the error was never corrected. Approximately two months later ( - - -, I called B of A again to explain my situation and see if I could try the modification process. The agent suggested that I resubmit my offer. I did, but I never received a response. In -, -, I still had no response, so I contacted the Office of the President at B of A. I did receive a response promptly, but in the end, my offer was denied again and I was told that I had done all that I could. I did not think of it at the time, but now I suspect that Bank of America still has my first mortgage loan amount incorrect in their system. Shortly after that, I received an Intent to Accelerate Foreclosure letter. There was n't much that I could do. I could not afford to get caught up and make the monthly payments. On - -, -, I received a Debt Verification from - - -, stating that B of A had instructed them to commence foreclosure proceedings on my property. The letter also stated that I had 30 days to dispute the validity of the debt. Two weeks later, I sent - a certified letter and a standard mail letter stating that I wanted evidence of the legitimacy of their company and the original loan docs. They ignored my request. On - -, I received a copy of the Notice of Default they filed with - County. My first mortgage is with -, and I am current on that loan. I spoke with a foreclosure specialist at - just two days ago. She said that it does n't make any sense for B of A to foreclose, but that they do have the right to, and that they very well could go through with it. She suggested that I attempt to qualify for a Release of Lien through - to be safe. I am considering that route, but I would much rather keep my home. After 13 years of owning my house, it is worth less than when I bought it, and it is still underwater. It is my home, though. I live in it with my - kids that are now in college and can not afford to go to school and live on their own. It would be a tremendous hardship to give it up. I would greatly appreciate some assistance.