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Update by user Feb 15, 2021

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Original review posted by user Feb 14, 2021

File complaint to OCC - I encourage to do same . I spoke with broker friend this another scam on *** banks strip equity .

I am writing to you today prior to this situation I had impeccable credit and was in good standing with Bank of America. I want to bring to attention how Bank of America has treated me and their practices on my foreclosure. I tried to work Bank of America despite my efforts and having property on market trying to sell for past 3 years. Bank of America toke action against me even when I was trying to make good with biweekly payments to catch up. In the middle of this process Bank of America sold my serving to Specialized Servicing which made my accelerated balance jump by 8989 without any explanation. I believe if OCC did an audit, they would find excessive usurious fees and charges added to my loan balance from the servicers on this loan. Original loan has transferred 3 times in past year which has made impossible for my attorney to get audited payoff. When this started in June 2019 the accelerated balance 235 ,000 now 267,873 with fees among other charges.

The servicer Specialized Serving was serving loan until Jan 2021 had added many junk fees which has driven accelerated balance. Then once again my loan was transferred serving without my knowledge I found out when I called for payoff from Specialized Servicing that I could not get payoff since loan was transferred to Fay Serving. I believe according to RESPA I was supposed to received servicing transfer letter 15 days before transfer which did not happen and made a problem for me due to house on market and needed accurate pay off for my attorney. I have had terrible time with getting payoff with loan being transferred to Fay Servicing.

I would like to see excessive and usurious fees and charges to be entirely waived from my foreclosure date. Many other Americans are in same place and we need safeguards against lenders that prey on people hardships. With events in 2020 and losing my job due to COVID-19 and shutdowns in IL. No way I could get myself out of this hole along with unable to sell home with COVID 19 as it was consistently on MLS.

User's recommendation: Contact OCC on BOA.

Monetary Loss: $8989.

Preferred solution: Full refund.

Bank Of America Pros: No pros.

Bank Of America Cons: Unhelpful to their customers, Presumption state citizens are high risk customers.

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You didn't make your payments, as agreed to in the Note, that's why you're in foreclosure. Pay and this wouldn't happen.

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