This may be a case where the current owners have filed bankruptcy. In those instances, there is a federal stay issued and Bank of America cannot do anything until the bankruptcy is discharged or the trustee releases the home from the stay. A home may be released ahead of the discharge if the trustee reviews the market value of the home and finds that there is not any equity that could be used to pay creditors.
You may be able to do some research and find out if the owners have filed bankruptcy.
There may also be some other reason that the lender cannot clear title. You should be diligent in researching those potential issues as well. Your agent could have title do a search and look for anything recorded that may be cause for alarm.
If you do make some progress in purchasing the home, do yourself a favor and purchase extended title coverage just in case. It's a fairly cheap way to protect yourself against potentially unknown title issues.
Keep in mind this is not legal advice and you'll want to consult an attorney for certainty in these matters.