Consumer Complaints and Reviews
Shame on BOA! - I have been a loyal Bank of America customer since 2005. I currently have a Home Equity Line of Credit with BOA for $100K. I write to inform you of my recent dealings with various BOA representatives, which were both troubling, unprofessional, and questionable. On February 7, 2017, I contacted Aaron **, Mortgage Loan Specialist by phone at Bank of America to discuss a Home Equity Line of Credit. I currently have a Home Equity Line of Credit with Bank of America for $100K. The draw period for my existing line of credit expires August 18, 2018 and the available credit on the line is $25K. During our conversation, Aaron told me my rate would be prime plus .130 and my house should appraise for around $285K. Accordingly, I was told that I could expect to receive 70% of the home value for the home equity line of credit.
On February 22, 2017, I was contacted by Nancy **. Nancy and I discussed the outstanding items she needed to complete my application. It is important to note, the items did not include a recorded lien release. Nancy stated my rate would be prime plus .230% and could not provide any explanation for the difference in rate. Second, Nancy stated my house appraised at $274K, which was different from the appraisal amount I received from Aaron only approximately 15 days before. I was later told by Richard **, HSS Manager, that my home appraised at $305K. Again, I am highlighting the varying information I am receiving from different Bank of America representatives. During my last conversation on March 20, 2017 with Nancy, I was told that she came across an outstanding lien against the property. Per her request, I provided her with the information of the lien holder.
During our last conversation with Nancy, I specifically asked if the lien, which was in my mothers name, against my property would be an issue. I told Nancy, I could pay the lien off if it was an issue. She stated she needed to talk to the lien holder first and she would call me back. This lien had been on my home since 2002 and present at the time I was approved for the initial LOC approximately eight years ago. I never received a return phone call from Nancy. Instead, On March 24, 2017 a Bank of America representative called to inform me that my application had been denied. Per my conversation with Tom ** on March 24, 2017, Nancy never even called him to see if the lien holder. Furthermore, Nancy never return emails or phone call in a timely manner if at all.
On March 27, 2017, I reached out to Nancy's manager Richard **. Richard informed me the only outstanding items were a copy of the recorded lien release and my Capital One bank statement showing the source of the funds used to pay off the lien. Per my request, he sent me a confirmation email stating the same thing. I specifically asked Richard about my property, so there was no confusion as to the location of the home. During the call, Richard stated the appraisal was good for 90 days. I explicitly asked about this because I did not want to pay the $15K only to denied for the loan. Richard went on to provide the appraisal amount. He stated the appraisal had been completed and I would be approved for my original amount of $199K because the appraisal higher than $274K. I have a copy of the appraisal that was done on my home dated March 20th.
On April 12, 2017, I provided both documents to Richard via email. In the same email chain, On April 12, 2017 at 12:58 pm, Richard stated, “I have received your satisfaction of mortgage. We will just need the Capital One bank statement to source the funds used to pay off the lien. Once this is received, we will review for reactivation and once reactivated we will need to get an updated title”. After receiving that message, I resent the bank statement. Subsequently, I received a phone call from Richard stating it is now a requirement that Bank of America complete a full home walk through before approving the home equity line of credit.
I am having trouble understanding why neither Nancy nor Richard conveyed the need for a physical walk through until this point in the process. It seems to me that, Nancy and Richard are unfamiliar with Bank of America processes and both were looking for ways to disqualify me. Why would Nancy order the wrong type of appraisal? Why would Richard state the appraisal was good for 90 days if it is was the wrong type of appraisal? Furthermore, I am curious to know if this walk through policy is implemented at the discretion of the home service specialist manager. I still don't understand the exact purpose of coming into my home other than to find another reason to disqualify me.
Road blocks and hurdles have been strategically inserted to block my application. Richard ** assured me that my home equity line of credit would be approve if I paid off the lien and provided documentation as to the source of the funds. The lien has been paid off. Richard should be held accountable for his statements. My home equity line of credit should have been approved.
I inherited property in Florida ** from my brother (Phillip **). I qualified as the Executor, and probated the property and provided Bank of America (BOFA) with the estate documents, including the order of probate, the closure of the estate, and the court order transferring the real property to my name. During the time frame, BOFA has refused to provide any statements on the account, transfer the loan for notice and mailing purposes to my name and address, and refused to provide the required 1099-INT for the 2016 loan interest.
As a result I am now placed in the very difficult position of having to estimate the loan balance due and the amount of interest paid during 2016 for purposes of my 2016 federal and state tax returns. BOFA is unwilling to provide any information, and it appears that they are hoping to force a default and then implement foreclosure, but I am sending estimated payments each month to prevent that action. I noted that BOFA just incurred a major judgment for treating other consumers in the same manner. It is a prime example of why consumers should not deal with BOFA for any financial needs.
I tried to apply for a renewal of a home equity line of credit that I had for 10 years. Both times the application was closed out by the bank because all info was not received according to the bank. The second time I did it I worked with the local branch in Cranston and they submitted all the paperwork directly to their home equity dept. The same result. They closed the file for a lack of info. They said I could do it a third time but I think not. Who would want to continue to waste their time? They were not making enough money on this loan for the past 10 years so they blew things up. This bank back office operations is terrible. Try any other bank. The local branch is great. Home equity loans the worse. This also happened to my business partner!
I have been working with Bank of America to get a modification, forbearance, refinance, since October 2016. Due to me driving for Uber on the side they wanted me to have a profit loss form completed, even though I have a full time job and they have proof of my income from that job. I completed the form as instructed and was told that it could not be filled out by me. I had to have a CPA do this and pay a CPA. I reached out to CPA's and it was too expensive to get this form done. I was in constant communication with Bank of America and was told several times that I was not in foreclosure. I also made payments here and there to try to keep myself out of foreclosure and keep my home.
When W2's started rolled in I reached out to the bank and offered my 1099 for 2016 for Uber instead and they said that they were waiting to see if the underwriter will accept it and would call me back in 10 business days. No call back came so I called them back and was told that I could submit the profit loss form myself again and be specific. I was also told to make 2 payment and my mortgage would continue to be ok (this was on 03/08/2017). This would keep me out of foreclosure. I walked into my local branch and made 4 payments, not 2, but all 4 payments for Nov, Dec 2016 and Jan, Feb 2017 on 3/10/2017. This left me only owing for this current month 03/2017. I paid the full past due and took a screen shot of what I owed and paid. I looked at my balance online and notices that all of my payments were put back into my checking account.
I called back to the mortgage department and was told that I am now in foreclosure and they want my March 2017 payment plus attorney fees. It is currently March 14, 2017. I asked when did I go into foreclosure and they told me that I had been in foreclosure ever since October 2016. I asked, "if that were the case why did you take all of my other individual payments, but when I pay everything up, you refund those 4 payments, plus your calls are recorded and you will hear your rep telling me to pay 2 payments. Why did you to take my other payments since October 2016 if I was in foreclosure?" I got the runaround. I asked when was a letter mailed telling me I was in foreclosure.
Get this people!!!! They told me a letter went out today and is in the mail. I said "well if that's the case I wasn't in foreclosure when I made those 4 payments 03/10/2018." I am currently waiting for a call back from a mortgage manager to clear this matter up but was told that the manager was not going to help me. He is going to tell me the same thing. Looks like I am going to have to move out of my home. I will be able to pay my March mortgage payment, however I will not have attorney fees. Bank of America never intended to give me a forbearance, modification, or refinance and they definitely don't intend of helping me. For some reason they really want my house. I don't understand how a bank can do this. If someone reads this and can help or give me some guidance please post. I will be reading these reviews daily.
They made me jump thru hoops to refinance to a lower rate on two houses. Rejected one and told me to reapply. They held the two original mortgages and I was never late but they told me I was a bad risk.
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I refinanced my B of A home loan last Fall (2016). The escrow amount they projected was off by more than 50%. Now they insist I must increase my monthly payment by $500. Their wrong information led to a bad financial forecast and I believe it borders on criminal!
Bank of America Mortgages is the worst mortgage company. They would not refinance my mortgage and moved it to some holding company because I have a jumbo loan. They are deceptive and did not help homeowners in the recession. All of our houses are under water. They refused to refinance if we were current.
BOA acquired our loan from Countrywide (2008) on a property we have owned for 11 years now. We have never been late on our mortgage and we have very decent credit. We've tried to refinance this mortgage three times in the last 5 years to reduce our interest rate and create better cash flow. Each and every time, BOA has some excuse for why they can't improve the interest rate they are charging us (loan to value too much; not enough assets; it's an investment property, etc.). Mind you, we've had the same rate for seven years!
I encourage anyone looking for a mortgage to bypass Bank of America. You will regret it if you secure a mortgage with them. The mortgage reps are unprofessional, dishonest and BOA appears to be interested only in taking your money - not really providing quality, valuable service to the community. Today, I was discussing a refinance with Corey **, a loan officer and he just "hung up" on me while I was questioning the rate he offered. Completely unprofessional, but I suspect this is how they treat all customers which is why there are tons of negative reviews and a horrible track record on this site. It just seems that something should be done about companies who operate like this.
Bank of America almost made us lose our home. We tried for a mortgage modification three different times and were approved and then told we don't qualify. The people working there knew nothing about the last person you spoke with, nothing ever written down in three years. Had to hire a lawyer and we finally got sold to Caliber or we still wouldn't have a mortgage. Bank of America is a horrible establishment, whenever you think you are getting ahead, they move you to someone else and you start all over again. Bank of America is the worst mortgage company ever existing and should be made to pay all of us with mortgages back for all the money they stole from me and all the others. Horrible people, from top to bottom.
Over the course of 20 years, I have dealt with Bank of America on the buying and selling end of homes. My first mortgage, the rep went on vacation the week I was closing, my title documents were mailed to the escrow company. Basically, before the internet, I had to drive and deliver the papers myself. Next I was a Bank of America customer, I contacted them for a loan for my next home. My paper work was in check, but due to the organizations slow responses I went to another financial institution to get a loan, otherwise I would not have bought the home I wanted. After this frustration, my loan was sold to them a month after I bought the home and then they eventually sold my loan to another company.
Lastly, I was selling a home, and yet again, Bank of America almost screwed up a sale. This time the buyer, on day 44 of a 30 day loan, was contacted about taxes. Again the inept organization almost ruined a transaction. Luckily, the buyers to pay cash for my home, and Bank of America was thankfully not part of the deal. I would stress even being pre-qualified, to stay away because of this bank's businesses practices. Over the course of 18 years, I am now removing my finances from this bank.
I started an application for a line of credit two months ago. My house has no mortgage and is appraised at $470K. I was told I had 2 months to submit the required documents but the application was closed after only 10 days due to incomplete documents. I had to call numerous times for information and was told that the application was still in process.
Every time I called to check on the application I was told that they hadn't received something or needed more information. They were unable to comprehend the land trust I have for the house. I was told not to worry if we miss the 2 month deadline I could just start the process again with a new application. Why would I go back to them? They were unable to give a clear explanation of what more they needed so I finally told them to cancel the application 4 days before the deadline so I could go somewhere else. At that time they told me the application had been denied a month ago even though they kept asking for documents right up to the day I canceled it! I didn't get an answer for why it was denied, the woman kept contradicting herself. Such a huge waste of time. I was able to do another application in one day with BMO Harris - no problem with my documents! It has already gone to underwriters.
Bank of America just arbitrarily increased my mortgage payment for no reason. I haven't missed a payment in many years! What is this? A contract is a contract. If they can just up my payment whenever they want to then what stops them from just adding a couple of thousand when they need more cash? Absolute highway robbery. It's BS!
In 2015, we closed on a mortgage with Bank of America. At the end of 2016, we decided to refinance to lower our mortgage rate. We have always impounded both our taxes and insurance in escrow with BoA. On 2016, when we signed the closing documents to refinance, we again checked the box to create an impound account for our homeowner's insurance and property taxes. We signed the documents in front of the notary and our refinance closed. In December, I received a bill from our Homeowner's Insurance asking for the premium payment. I informed them that this bill needs to be sent to the bank.
I contacted the mortgage loan officer in charge of the refinance and forwarded the bill. She pulled up the closing documents and said "You are right. This is supposed to be impounded. Let me fix that on our end." I followed up a few days later and was told that everything was taken care of. Fast forward to January 2017, when I get an email from my homeowner's insurance telling me that my premium is past due. This is beyond outrageous. I NEVER would have even done the refinance if the bank's calculated monthly payment did NOT include the impound of my homeowner's insurance. Why? Because I wouldn't have saved any money by refinancing. I cannot believe that I am spending another minute dealing with this issue. Refinancing with Bank of America was a HUGE mistake.
In October of 2016, I was offered a home equity loan by Bank of America at a rate of 2.24% for a year. I understood that at the end of the first year, the rate was to be prime less 0.42%. Based on this promise, I transferred my fixed mortgage with Regions Bank to BAC. We closed on this loan in November, and throughout the entire process, I was told the rate would be 2.24% for the first year. To my surprise and dismay, I received my January statement on Friday after the bank had closed; and I discovered that my rate had been changed from 2.24% to 2.49%!
I made the 30-minute drive to the bank Monday morning to speak with my representative at the bank, since he had not responded to my email to call me in what I felt was a timely fashion. He was as surprised as I was, and he called their consumer loan department. He was told that it was because the Feds had raised the rate. Since this had not happened in the last 8 years (before he was employed by BAC), he was apparently not aware that it would affect my introductory rate either; and he was apologetic. Basically, however, he told me there's nothing I can do about it! He said that they are now offering 2.49% for the first year. I told him that he needs to tell his customers that this too will be affected if the Feds raise the rates again. Otherwise, he is lying to his customers as he and BAC lied to me!
Crooked, FRAUD, dishonest bank. Not to be trusted bank! I read reviews, the millions who've suffered under the bank's own choice rules. Crooked, fraud + dishonest practices, will best describe my horrid and still continuing experience with BoA. Really? Really! Here goes... Had a condo. I'd occasionally take a small mortgage and pay off with BoA since 1989, owned free and clear. Come Aug. 2005 I decided to purchase a subsequent home (my cash) bought at height of economic boom. Come Sept. 2006, while vacationing, a "eager beaver mortgage co." per BoA (you know... from Countrywide?)... We signed papers yet didn't receive till 2 mos. later, the over inflated appraisal, pics clearly on condo, they produced.
BoA's right hand pretends not to know what their left hand is dipping into, indulging themselves, as their CEO. The hard earned cash I'd paid for my home, unrelated to condo, did have a credit line, I took through BoA, that I'd build up, pay off, build and pay... till? By 2009 I became suspect, smelling fraud... BoA pulling a bait and switch to compensate their own pockets, noting the condo with home's legal (still not corrected, mortgage at condo paid, making my home worthless)!
If a attorney take this case, BoA has yrs. of knowledge, is intrinsic fraud (prefer an expert on BoA antics). Per judicial ruling, their disgusting effort to do a slanderous summary judgment, Judge DENIED. I am legally blind and have complained to Attorney General's Office. In spite of, BoA rules to a tune of their own. I'm sick of it!
I am currently late on my mortgage for the second time. Bank of America has agreed to approved us for forbearance. We had a hard time making payments of $1350! Now for the next 5 months I have to pay them $1,900 to keep my home. At one time when my payments were on time I called them if the PMI could be reduced or taken out. I don't remember what the story was but the answer was no. At another time I was not even to make payments online because I was late on the payments. So now we will be more stressed for the next 5 months. I don't recommend them.
I purchased my home in 2009 and Bank of America bought my mortgage before I could sign all of my papers. To date my mortgage is current, never late. They are constantly trying to get me to refinance and I was contacted by one of their representative about refinancing and he admitted I should not be still paying PMI insurance. I approached Bank of America about dropping the PMI and they told me I need to pay them for another appraisal to determine that my home had not lost value. When their account representative contacted me about refinancing, he told the house I paid $150,000.00 for was not worth $225,000.00. I even brought up the federal law of 1999 regarding PMI that was supposed to protect home buyers against excessive PMI.
Bank of America representative referred to the amortization schedule which is based upon paying only my monthly mortgage and when I should reach that 80%. There is not one problem with my mortgage payments and Bank of America still refuse to acknowledge that I paid extra to get rid of the PMI. Their answer to me “Pay us for another appraisal and we consider dropping the PMI before the date on the Amortization Schedule.”
I called BofA and inquired about a refinance from a ARM to a fixed rate. This was the only honest person I have spoken to in the last 10 years at this corrupt company. He informed me in 2005 or 06 that the housing market has gone down, the rates are lower, and that I should apply for a loan modification. I applied for a loan modification and it has been 10 years and these liars and thieves at BofA have lied, stalled and denied me loan modification when they have four justifications on their home loan site as to who can qualify for a loan modification. I have qualified for three of the four justifications and these liars have stalled, transferred me to more than 9 different so called loan specialists, assigned by the CEO of BofA, and each one of them had me start the process all over again as if they did not have the documents that I had already submitted.
I would get a call from one person and then another and then another followed by a letter telling me that they were assigned to me because of the letter that I sent to the CEO of Bank of America. The information that I sent to, was stored digitally by BofA and they lied at least 7 times when BofA assigned another liar to work with me informing me that BofA had not received the documents that I had submitted at least on 6 different occasions. After 10 years of lies and deceit by BofA personnel they denied my request for a loan modification based on lies and a faulty appraisal that was incorporated by BofA. This is a culture at BofA, as many have said, implemented by the highest level of management at BofA because so many people are lodging exactly the same complaint.
One BofA customer service eventually and accidentally told the truth. She said, "Bank of America will not give you a loan modification on your property because you are not behind on your payments and you have to pay for all of the people who have defaulted on their loans, or walked away from their homes." I have keep the Consumer Finance Protection Bureau informed about all of the lies that Bank of America people have told over the past 10 years and they have informed me they can only pass my complaint on to Bank of America and get them to response. Well this has gone on for over 5 years now and Bank of America knows that there is no government agency that can enforce BofA to be honest with their customers. Therefore Bank of America has created a den of liars and thieves.
I have all of the information supplied by BofA that I sent to them as well as what they sent to me. I also sent as much of this information to the Consumer Finance Protection Bureau as I could. However they have more than enough information supplied to them by me to do something about these thieves if they desire to do so. There is much more to the many lies, stalling and Un-American tactics that BofA has told to me and I have them with a response to no avail. Bank of America personnel will tell you that the call may be recorded. However if you tell the person at BofA that you are recording the conversation they will tell you that if you continue to record they will hang up and in the last instance where I told the Bank of America representative that I was recording our conversation she slammed the telephone down immediately.
Consider this. If the Bank of America representative is telling the truth why is it that they refuse to let you record the conversation however they can record the conversation if they want to? The only reason for this situation, in the opinion of many, is that the Bank of America personnel know that they are going to lie to their customers from the beginning of the conversation and they do not want it on record.
I went with BOA after loanDepot kept raising closing cost. I was promised the same rate locked it in rate. BOA has had my loan since the crash in 2008. I never missed a payment... Ever. I thought I was golden. I have a great credit score. Money in the bank and was going to pay off my loan by paying my loan down to $200.000. I could have just walked away from my mortgage that was way too high in 2008.
BOA took me for a awful refinance trip. No one calls you back. Nobody follows through. My loan officer never got all my papers in on time because he said he was sick... Not once not twice but three times. Nobody not even a supervisor gave me a call when I was waiting for answers. BOA dropped me because my loan officer was away from the office. I was locked in until Dec 05 2016. Guess when I got a call... The 6th of Dec. One day after locked in. Why didn't he file an extension??? Why didn't they have BOA supervisor covering for him if he was always sick? I would like to know if this has happened to anyone else... My loan officer was from Jacksonville Florida. His name is Gerald **. Awful experience... And I am getting a lawyer. Help me please.
First our home loan agent was amazing! Troy at Bank of America is great at his job and always available and super helpful! We were worried in the middle of the process and got super annoyed they kept on delaying the deadline because of the underwriting team and the seller was putting pressure on us. But in the end they got it in before our closing date! Not to mention after everything was finished they sent us a check to rectify any inconvenience they might have caused us. So in the end, it ended up being worthwhile.
I have just reapplied for a new VA home loan with Bank of America. I previously held a VA home loan with them for 6 yrs. I had horrendous customer service back then but chalked it up to my loan officer. 6 yrs ago it was a nightmare. I shrugged it off and kept my loan along with my checking and saving acct, as well as cc. Never missed a payment! I had an issue with the buyers of that home. Unfortunately I had started a brand new loan in another city for a new home loan. That new loan was I thought 100% good to go but my buyers backed out last minute. It took several months to get old home sold. When I called my loan officer to restart the new loan again - thinking we'll, it was a definite go 5 months ago and nothing at all had changed... oh my was I wrong. I was told 30-45 days to close on new loan process even though it was just picking up where I thought we left off previously.
This go round, I needed a brand new appraisal. Ok no biggie. It was the same house of was in process of buying before my buyers backed out. Loan officer attempted to use old information with just a few updates. Again still using my VA benefits. Again I had to get a brand new VA eligibility certificate. Another termite inspection. Once a week I was checking with loan officer to see if all was good to go. Less than 10 days before I was supposed to close image got hit with 5 more UPDATES I was required to provide to BOA. That list of 5 items at 9 am doubled to now 10 updates that I HAD TO PROVIDE to bank at 3 pm! 3 of which were items that the bank was supposed to generate, not me the home buyer. 2 of the 10 items were the most important, VA disclosures and a closing disclosure from the sale of my previous home.
I did provide my loan officer with it only 2 days prior but he waited until that day to say he needed it again with my signature. I went back and forth saying you've had 30 days to ask for these documents but waited until 10 days before I closed to ask again. I had to write numerous drafts on payments that showed up on my checking account. One was regarding my TV cable and Internet bill. I called myself to the VA dept to expedite the updated VA letter of eligibility. The VA headquarters laughed when I called saying it was the bank's responsibility not mine to get that. VA even admitted that BOA was notorious for screwing up veterans loans. I was personally emailed the correct forms to save time. VA Loan officer kept saying it was underwriter's fault not his. Underwriter was off the day I blew up. Convenient huh??
Fast forward 1 wk left and I still don't have a 100% response from officer if everything is good to go. It's going to xmas on Sunday and of course everyone is out. Same house, same job, same VA entitlement. I called and left requests to Underwriter, to Complaint Dept at Main BOA Home Loan Dept. Not one person has returned my multiple inquires or talk to me about the complaint report I started. Every person I asked to contact me, to include MY loan officer has yet to return any of my calls and I still have no idea if I will close in 5 days! I have so much more to say but the process is exhaustive and I'm at point of just saying forget it and I'll go to to another bank. 1 wk ago mentioned this to my loan supervisor and he said GO FOR IT!
I paid off a woman's mortgage with Bank of America. This Bank kept the payoff amount and is requiring her to continue making payments to keep her home. I have reported them to the CFPB and the OCC. Banks are not allowed to keep your payoff payment and still require you to continue paying. If this happens tell the CFPB and the OCC about it. Send them copies of all notices and payments made.
So you would think we'd have no issue with Bank of America granting us a home equity loan - they just turned us down. My husband has and 800 + FICO. And THEY HELD THE MORTGAGE. The reason - it is a dome home. 3750 square feet, 3 bedrooms, 3 baths on an acre with an ocean view. AND THEY HELD THE MORTGAGE. But no home equity for us, because it is a dome home. No speaking to a supervisor.
In the year of 2013 I was in the market for a mortgage modification, so I had to wait for the results after a few months. So that did not work, because I needed a lower payment. The payment was much higher, so I waited. I tried it again. Came back higher again so I went to court and the judge gave me 30days to leave my home. I had wife and kids and so I could not just leave, so I tried again, through the hamp program making homes affordable the Obama program. So that did not work, did not know what else to do.
And later after have I was contacted by a collection agency. I told them I could not move right now and that I could not afford it, so they offered me a modification and said it will be 2500 a month and I said I could not afford the payment. So later I was offered 40 yr mortgage and I said no because it doesn't make sense. So after that I was finally offered cash for keys cause I hade no choice but to leave, so I lose my home and me and my wife and kids had to leave, that damaged my marriage and my health, and trying to deal with the change it's still hard. I move in my house in the year June 2000, it will seem like, that something could have been done. No Obama plan, making homes affordable. Why... That was bad treatment, unfair treatment and the house is still sitting there empty. Can I please get some help, the house is still sitting there. Thank you...
7 yrs ago my husband was laid off from his job. He could not find another job in the state that we lived. We had to move out of state. We found a renter for our house till we could sell it. We had a first and a second on the house. The second was with Bank of America. The renter stripped our house and sold everything that wasn't cemented down. Left the house as a shell. My husband flew to that state and went to the police dept. They told him unless we could bring these people to them, there's nothing they could do. We had no idea where they were. We were told by people that they left the state. Nobody wanted to buy a house that was completely stripped to nothing and we ended up losing the house. I called Bank of America to let them know and they advised me we were still responsible for our payments to them. I have been making my payments to them every year since then. I have never been late with a payment.
After 7 years we have repaired our credit. A couple of years ago we bought a house from a private person with a condition that we would get the house in our name when possible. You have to wait so many to be able to get another mortgage after a foreclosure. Our waiting time is up this April and we are set to get our mortgage to get the house in our name. Our credit score is in the 700's, so we will have no problem doing it. I made my Bank of America payment at the beginning of December and they have returned it to my account. I called them to ask why, and they told me since the house that they had the second on, foreclosed, they have to foreclose also.
It's been 7 years. Why are they doing this now! How can they mess with people's lives like this? I am so confused on why they are doing this. We worked hard to repair our credit and now we have to start all over again because of what Bank of America is doing to us. Why did they tell me I'm still responsible to make our payments, which I had no problem doing for the past seven years, and now they are going to destroy our credit again which we worked hard to repair. And for no reason at all. I am so confused. We did nothing wrong to them. They are demanding the whole amount that was borrowed. They state I can no longer make payments. What has changed? They had no problem taking my payments until now.
The only thing I can think of is they got back everything that was borrowed and now they are going to use the foreclosure as a way to write it off for tax purchases and have no problem hurting the little people. Our credit will go bad again and we will not be able to have our house put in our name. We put a large down payment on this house and could lose this one also. How can Bank of America get away with this? I asked them if they could at least accept our payments till April to give us time to do what we need to do for this house. They told me it's out of their hands, that they can't do that. Why not??? They had no problem taking the payments before. Why are we being punished again for a crime that was done to us? I can't believe an institution is allowed to destroy people's lives for their own gain.
HORRIBLE!!! DO NOT USE BANK OF AMERICA. They sold my mortgage out from under me and gave me 2 weeks' notice to another company that is a scam. I tried to refinance and because of the transfer my property taxes were not paid!!! BANK OF AMERICA IS HORRIBLE FOR MORTGAGES!
We are trying to refinance our home to help us get out dad and be able to make our payments without working several jobs. Bank of America increased our payment by $150 without notification and I had our mortgage payment set up for automatic payment through our bank so they reported that we were 30 days late which is keeping us from being able to refinance. We had been with Bank of America for five years and have never been late with the payment and customer service said that they would get this corrected. I called today they said that they will not corrected and now we are out options to refinance and reduce our debt payments.
Found our dream home. Jumped through all the hoops and filled all requirements. Sold our main home and even sold our weekend home (which wasn't stipulated.) Everything is going well and 48 hours before the close the banker can't give us the clear to close. Mind you the land is 61 acres with a home. They knew this from Jumpstart. At the last minute it is a problem. Now I am scrambling to find another lender and scrambling to find another place to live short term. Since I sold both homes. All I get in response from BOA is "sorry and I understand." The banker has become Mia and won't return calls.
We have a home loan with B of A. It's been in place for 7-8 years. Never missed a monthly payment. We also have an Equity Line of Credit with them. Our interest rate is much higher than what it is today, so we thought that we should speak to B of A to see if they could reduce the interest rate to something closer to today's average rates. That was a huge mistake. We spoke to a rep with B of A and completed documents and all kinds of questions about us and our current situation. Long story, short. They used that information to suspend our equity credit line account, stating that we were a risk. Keep in mind that we had never missed a payment. There was no way we could solve this issue.
They assigned a new "rep" to us almost every two weeks and each new rep had no idea what we had gone though. After the fifth rep, we simply ignored the letters and calls and sent a letter to regional and company management. Of course, no response. So, we are now left with no Equity Line of Credit and our interest rate is the same as it was when we first contacted B of A. The gross incompetence of the bank can only be matched by their single objective of building a war chest of money. I've never experienced a corporation with so little caring for their customers. It's not by mistake on their part BTW, it is a well greased strategy of ignoring customers.
Bank of America has held my mortgage since 2002. Today 11/19/2016, I received a letter saying that my mortgage has been sold to Carrington Mortgage Company. WTF? I have never heard of these people. Why are they doing this? I was a premier customer all this time. If they sell my mortgage does that mean I now have to pay service fees? Is this why Bank of America is doing this? Something doesn't seem right here. Is this happening to anybody else?
Bank of America Mortgages Company Profile
- Company Name:
- Bank of America
- Company Type:
- Ticker Symbol:
- Year Founded:
- 100 North Tryon St
- Postal Code:
- United States