Bank of America gave me a PREDATORY interest only loan of about {$59000.00} ( ten ) 10 years ago. During the past 10 years I paid approximately {$160.00} a month in interest only or a total of {$19000.00} in interest only as the loan was not amortizing. In other words I paid Bank of America an effective rate of 34 % interest and I still owe Bank of America the entire PrincipalDespite the draconian conditions that Bank of America imposed I am current on my loan ( number XXXX XXXX XXXX ) and I never defaulted over the past 10 years. During this ten year I applied 7 times to Bank of America for a modification and a lower payment of about {$68.00} a month and each time my application was callously denied.even though my income is very low. But I continued to cut back on my medications so that I can afford to pay Bank of America and to date I am current on my loanTo add injury to insult Instead of lowering the payment to {$68.00} a month as I was requesting Bank of America has suddenly increased my payment to {$500.00} a month. Bank of America did not have the common decency to notify me by ( 1. ) return receipt or ( 2. ) certified mail or ( 3. ) registered mail.that they were about to abuse me. How could a Bank just unilaterally change the loan terms on a client without notifying him? 

In fact Bank of America just increased my monthly payment by 300 % from {$160.00} to {$500.00} a month without even notifying me. When I went and complained at the Bank of America branch on XXXX XXXX in XXXX XXXX the officer told me I signed to it 10 years ago.. The officer just said that Bank of America is within its legal rights and there is nothing I can do about it. 

This is a predatory loan and I can not afford to pay {$500.00} a month.I need help to lower the payment to about a {$60.00} a month. I am current on my loan and I never defaulted and I intend to repay the loan in full and would be most grateful for your urgent help Bank Of America IS FORCING ME TO DEFAULT even though I faithfully met my financial obligations to Bank Of America over the past ten years. 
