I agreed to a loan modification on this equity loan which was to start XX/XX/XXXX 2015 with XXXX payments of {$170.00} on the XXXX of the month. I have completed XXXX payments on time only to receive in the mail the XXXX statement indicating the XXXX payment made on their posting account of XXXX/XXXX/15 has increased my previous balance and getting a loan modification has served no purpose other than to collect more funds from me. See attached documents. My understanding with the Bank of America resolution manager was that part of that payment was to go for the principal and part to interest as I inquired before even agreeing to this modification. Instead as you see on this statement they have described the loan modification amount as " cash receipts '' subtracted it from the previous balance of {$100000.00} XXXX which includes the real equity balance of {$98000.00} plus the past due amount of {$6700.00} XXXX then added on a finance charge of {$220.00} bringing it to {$10000000.00} which is more than the previous balance. This is their way of helping customers with a loan modification. 
