Bank of America had us sign a Loan Modification in January 2009, which had the

payments start April 2009.

We made 6 consecutive monthly payments on time. Our payments were not being
reflected in our loan history.
We contacted BOA several times and wrote letters.
In August 2009 we learned they made an error in the papers for this loan modification.
They reported us to all credit bureaus as being late 9 payments.
We learned that our payments were being held in a suspense account. ( now called
partial)
In October 2009 BOA had us sign a “new” modification which first payment started
November 1, 2009. The interest charged totaled ($13,522.95) (from September 2009
through December 2009) as well as uncollected late charges of 150.25 and uncollected
costs of $45 totaling $13,718.25. This is in addition to the fact that we had made several
payments
Our unpaid principal balance went from $216,056.41 to $221,708.10, the $5,651.69 they
listed as interest, costs and expenses. They charged us an additional
$13,718.21, which was calculated interest from September 2008 through April 21, 2009,
late charges and uncollected costs. This amount was in a demand letter dated December
23, 2009.
They made numerous errors in our account and admitted to this. I asked for a full audit of
our account and wrote to OCC and other agencies. BOA contacted us and forced us to
sign a settlement agreement for:
"miscalculation of your loan modification, and conflicting information...and with the
errors made on your loan in regard to the modification you received in October 1, 2009".
The breakdown of how the funds would be applied:
June 1, 2010 Payment $1009.59
Principal Payment $3470.42 (reduction)
Total $4480.01
Signed on July 8, 2010

Now we find that the $3470.42 did not reduce our principal balance. On August 19, 2010
there is a transaction line item for $ 1,455.78 listed as a miscellaneous posting and
another miscellaneous line item appears for $2014.60 the same day. These two figures
added together total $3,470.38. These line items had no effect on reducing or increasing
the principal balance.

We received a correspondence letter from Bank of America that included a charge for
$2,014.60. In contacting the BAC servicer, speaking with no less than 5 departments and
supervisors from customer service, to loan accounting but no one would indicate what the
line item consisted of. No one was able to explain the “fee” but did state that this amount
of $2014.60 would stay on our account forever.

They have not abided by the settlement agreement that we signed nor are they reducing
our principal balance.
No representative from any department or any supervisor can give us a reason for these
charges.
We now have an unpaid principal balance of $215,130.73
Our payments are not reducing our principal balance.
Our unpaid principal balance in October 2008 was 216,056.41. As of today our unpaid
principal balance is 215,056.41 for a reduction of $925.68 in principal. In taking Bank of
America’s transaction history there are so many miscellaneous charges, payment
reversals and errors in accounting it is nearly impossible to construct an accurate
application of payments.