Bank of America Mortgage

It has been a painful past couple months in trying to reach out to BoA mortgage customer service department to retrieve the additional monthly payment that was deducted via auto-pay from my BoA checking account after I had refinanced with a new lender. It's been approx 3 months of trying to reach BoA customer service and getting various answers regarding where and how the funds are being returned and still no clear answer. I have refinanced with other lenders and had much better experience with them in such scenarios.

Lender - If the call is dropped and you have my call information then return the call. At least pretend to want to help an already existing bank customer. Note that folks always remember poor customer service. I may not have millions at your institute but what I do have can always be moved to a place that values their customers.

I have a mortgage with BoA and I recently took advantage of the postponement program they were offering to people who are having a hard time during this pandemic. 3 months of payments postponed which was great, but do not do this. They sent me a letter stating my three months were up and if I needed any more assistance. With some good luck, I was able to secure a new job and didn't need assistance anymore.

We were with B of A for some time and asked for refinance at the much lower rates many were refinancing on. They started the process. Week after week we checked back they said our lower rate was almost finished, come to find out, they sold our mortgage out of state, to a lender with high rate and didn't let you use your house equity to upgrade the home. Terrible experience.

CITI electronic payment not applied -BofA could't find $$$. I made an electronic bill payment to my Bank Of America account from CITI bill pay. CITI removed the dollars from my account when they had a clear receipt that BofA cleared the funds. I entered my checking on the BofA account code. The BofA never applied the payment to my account. I called Bank Of America and they said that they don't know where the dollars went. They claimed that they did not receive the funds. They couldn't find any payment. Neither bank could tell me what happened to the payment. Bank Of America was useless in resolving my issue. I had to wait for 1.5 hrs for the mortgage to answer the call. And all that they could is...that they don't know what happened to the funds. Very frustrating bank.

We have never been able to qualify for a business loan despite having a credit score over 770. They have discriminated against us because our Real estate investments are in the inner city. The bank only approves us for high-interest credit cards in our personal names and not our business name.

My first mistake was refinancing with BOA. My original loan was with them in 2013, as well as a previous refinance in 2018. In 2018, they had issues with remembering basic requests that I had. This time around in August 2020, they failed miserably to pay attention to detail. With COVID, most of the communication during the process is either by phone, or via their chat thread in the BOA site itself. I had to resend the same information multiple times.

I was told my mortgage could go on forbearance for 3 months during the pandemic... Not only NOT TRUE but I was put into credit for nonpayment. I spoke to Melinda **, Denise **, Calvin **, William **, Dominick, Shawna **. A Shanika ** Never answers her phone or call me back. Actually a Supervisor named Melinda ** told you, "Do NOT have to call anymore. We will take care of it," that was July 3 in June. Bank of America hot my credit again, Also as I was calling and getting nowhere, they hit me with a $17.50 charge twice sending someone to my home to make sure it was in good condition since I did not make my payments. I was on the phone with the managers & supervisors above since end of March.. Now I have been on hold for an hr and sent to the wrong dept. 3xs trying to get the $35.00 taken off...NIGHTMARE!

If I could give it negative stars I would. Most onerous, inefficient, confusing process imaginable. It took over 50+ emails & communications back and forth over a period of more than 85 days -- to refinance a mortgage that was ALREADY held at Bank of America. Underwriter would demand a piece of documentation at 4:30 pm and threaten that if it wasn't uploaded by the next morning, our loan would be cancelled. This happened at least 20 times. Even after closing (signed docs, transferred funds), Bank of America continued to demand additional documentation before finalizing the mortgage - with our funds in hand! Representative & manager were completely useless. They were just playing telephone with the underwriter.

Currently with Bank of America, some of the problems I have had with them are they wouldn't allow me to purchase my own home owners insurance, or well they would let me purchase it, they just wouldn't accept it as the policy and they refused to work with my insurance agent to figure it, so they could sell me their own double the cost insurance. Lots of fun they are.... Now trying to refi the loan and the loan officer offered one rate during the whole process and then when we accept the offer she says the rates suddenly went up, even though the fed has lowered rates daily during the virus and they aren't going up anywhere else but Bank of America.... I asked where I could review the rates for refi and they will not explain or allow the consumer to see the rates and they make them up based on what the cost of their new boat will be.... I would NOT choose bank of america, I chose a local bank and they sold the mortgage to bank of america....