Bank of America Consumer Loan Complaint

Bank of America Consumer Loan department,

Pawn loan Applied for loan/did not receive money Maryland

Bank of America suspended my wife and I use of my home equity line of credit effective - -, -. I received this notice through the mail on - -. BOA said this suspension was based upon the decreased equity available in my home. I called up BOA and said they have never been to my home and this was based upon a formula. I asked for the formula and was declined this information. I live in - - Maryland where the home values have increased and not decreased since the home equity loan I took out in - -, -. Since then I have made substantial improvements on my home. Since opening the home equity loan both my wife and my credit scores have also increased, although this was not in contention. I also paid a significant portion of my load down in the pst few months. It is my contention that they are doing this without due process., without due diligence and are artificially devaluing my home without the correct information needed. In the same - - notice, they make it incumbent upon me and my wife to bear the burden of proof that my home value has not decrease and request a reinstatement. This is insulting and just plain wrong. I believe I have suffered injury as my family 's credit has been significantly altered by this outrageous, unthoughtful decision. This is also a defacto breech of the Deed of Trust that BOA agreed to ( see page - - Assignment of Miscellaneous Proceeds : Forfeiture. ) as BOA has failed to prove loss in value of my property and requires me to.