I received a line of credit from Bank of America in XXXX they originally solicited me for the loan due to increased equity. Without inspecting, they appraised my home at {$310000.00}. Would have been {$180000.00} only months before. I took the line of credit, intending to finish my remodel, pay off existing debt, and have a financial cushion. Planned to sell the home in XXXX when my son graduated. Real estate bubble burst, I was stuck. Continued to pay interest only, never missed a payment. In XXXX XXXX, contacted by bank, reminded that line of credit becomes conventional loan in XXXX. I said I needed to have help, did not want loan to be more than actual value of house. Directed to a mortgage relief department at bank. Absolutely terrible customer service, numerous times told that they had not received documents that I had sent. Knew that was not correct, because then they would give me info that I had supplied. Finally got a good case manager in XXXX XXXX, learned that the program I was referred to did not address principal reduction, even though that is what I requested. Also learned about the Bank of America Department of Justice settlement, something bank was doing while I was going through wrong process. I have since learned that this pattern of dragging feet and claiming missed payments has been documented at Bank of America. I do not know why I was not included in DOJ settlement. I did receive a notice from Bank of America in XXXX of XXXX congratulating me that the value of my house had increased. The value they gave me was inflated and I am guessing they used that to not include me in the settlement. Even with their inflated appraisal, combined mortgages were greater than appraised value. Key issues : told bank of America in XXXX of XXXX that I needed principal reduction. Was not informed of DOJ settlement, and instead sent into a process that would not help. In that process, experienced Bank of America 's documented malfeasance toward addressing my need. Not until XXXX of XXXX did I get a hint about DOJ settlement, still had to do all research myself. I believe that I should have been included in the settlement. This loan began as line of credit, becomes conventional loan in XXXX XXXX. Payment increases by {$1000.00}. My current income is {$3000.00} per month. Additional info : my daughter and her family now live in the house as I am working out of state. She helps with costs, but no rental agreement. My intention is to return to house in retirement. 
