Closing on a mortgage

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Nature of Complaint : Predatory Loan on Senior Citizens & Improper Deed Modifications.
How can Bank of America stop sale of property that is not encumbered on Deed of Trust as collateral?
How can Bank of America take funds from sale of property that had NO AVAILABLE EQUITY at time Home Equity Line of Credit was issued? HELCO was never in default.
How can Bank of America tie up three pieces of property without disclosing this to homeowner?
How can Bank of America change and modify Deed of Trust 11 years after it was issued without homeowners consent?


Complaint information : In XX/XX/XXXX , my husband and I received an unsolicited robo telephone call from Bank of America asking if we would like to receive a Home Equity Line of Credit on our property. We owned four pieces of property.
1. XXXX XXXX XXXX XXXX , XXXX , NC XXXX – House and . XXXX acre XXXX XXXX Pin # XXXX Assessed Value {$160000.00}. No Loans & /or Liens.
2. . XXXX acre property connected to XXXX XXXX XXXX XXXX registered Deed Book XXXX Page 124 Value {$1200.00} – No Loans & /or Liens 3. . XXXX acre property connected to XXXX XXXX XXXX XXXX registered Deed Book XXXX Page 064 Value {$1700.00} – No Loans & /or Liens 4. XXXX XXXX XXXX XXXX , XXXX , NC XXXX – House and XXXX acres XXXX XXXX Pin # XXXX Assessed Value {$590000.00}. with {$290000.00}. XXXX XXXX XXXX and a {$4.00} million lien from XXXX XXXX XXXX registered Deed Book XXXX Page 50-54 Bank of America issued us a Home Equity Line of Credit in the amount of {$500000.00}. on XX/XX/XXXX KNOWING THERE WAS NO AVAILABLE EQUITY ON XXXX XXXX XXXX XXXX .
The loan has never been in default. We have paid approximately {$150000.00}. interest to Bank of America over the last ten years.
In XX/XX/XXXX we entered into contract to sell XXXX XXXX XXXX XXXX . XXXX XXXX XXXX XXXX advised that Bank of America had lien on XXXX XXXX XXXX XXXX . We immediately got copy of Deed of Trust ( which we had never received from Bank of America ). It became very evident that Bank of America had listed XXXX XXXX XXXX XXXX as the collateral as the XXXX XXXX pin number was the same as XXXX XXXX XXXX XXXX . We contacted Bank of America and requested that they release XXXX XXXX XXXX XXXX as this was not the collateral. It could not have been collateral since it had {$4.00} million in loans & /or liens on the property at the time Bank of America issued the HELCO.
After numerous departments and e-mails, on XX/XX/XXXX , XXXX XXXX Officer, Mortgage Servicing Specialist II Post Closing Operations/Error in Closing Mortgage and Vehicle Servicing Operations from Bank of America responded that XXXX XXXX XXXX XXXX was the property encumbered and they had prepared a Modification of Deed of Trust and Partial Release document from XXXX XXXX XXXX , Assistant Vice President of Bank of America for us to sign and have notarized.
Again, How is that possible? XXXX XXXX XXXX XXXX had NO AVAILABLE EQUITY at time of Home Equity Line of Credit was issued!!! How is it possible to modify HELOC facts eleven ( 11 ) years after it has been issued? If they could issue corrected document to release XXXX XXXX XXXX XXXX which had no loans & /or liens on it at time of HELOC – they could have issued corrected document to release XXXX XXXX XXXX XXXX . How could Bank of America be allowed to tie up three ( 3 ) pieces of our property without our knowledge?
We declined to sign this. The result of this was we had to pay {$52000.00} cash to close on the sale of our property with Bank of America taking {$480000.00} monies from our closing. We lost {$530000.00} from Bank of America ‘s practice of predatory loans and improper modification of Deed of Trust.

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