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I applied mortgage application online and also called to follow up my application. After 2 weeks, no one had been assigned. This is a big bank but very poor service. Not recommend to do business with.
There are hidden fees and explanations are not clear. We were doing a HARP at which time we were never late, always paid in full and always paid ahead of time. They put some of our payments in a suspense account to make it appear as if we were delinquent. Representatives assured us they would call us back and be the main point of contact. They did not keep their word. We became very ill at the torture they put us through in this process. We would NEVER recommend this bank to our worst enemy.
I purchased a home 2009 and was financed with BOA. After 4-5 years with perfect credit with them I lost my job. I applied for a loan modification. They never reviewed anything. Just sold my account to another mortgage company.
I had two loans with BOA- I've had to complain about them putting my MORTGAGE PAYMENTS in the PRINCIPAL or Escrow section - and then turning around and attempt to FORECLOSE on my house when I'm ahead in mortgage payments by 2 or 3 Months. (I have no prepayment penalty - and I did notify them 2013, 2014, 2015 and 2016 that I was doing that!) Well in June 2016 I received a FORECLOSURE NOTICE ANYWAY- that I was AFTER I sent them a letter proof of mailing and a confirmation they received the letter which included each payment they cashed a copy of the check clearly noting the mortgage PAYMENT and back that BOA cashed it 3 months in advance mortgage payments.
I sent the amount they wanted to stop the bogus foreclosure while I argued - but they didn't cash the first check sent immediately Aug. 1- so I sent another check for $25 more because I forgot the exact amount they asked for - they put that money in another person's account named Robert something living in Armaro, TX -and didn't apply it to my account! Then finally on August 18 - they cashed BOTH my checks (only one was suppose to be cashed!) and stopped the bogus foreclosure yet transferred my loan to Seterus and RUINED MY CREDIT - so now the remaining house I have with them had my insurance INCREASED because of the bogus adverse credit BOA applied making my mortgage payments increase by $100 a month. I have filed complaints with the CFCF OCC - but they don't do anything - and the OCC doesn't do anything either. They are all government scams that appear FOR THE PEOPLE- but they AREN'T!
I also filed a complaint to Ron Johnson's Senate office E-Mail: **... But guess what? That was in February 1, 2018 and as of Feb 28th BOA is now attempting to foreclosure on my remaining house again putting my MORTGAGE payments in PRINCIPAL instead of mortgage payments in advance and doing a bogus foreclosure all over again. I attempt to CALL -BOA as I did yesterday. But wait time is always 30 to 2 hour wait time. I called yesterday and got a supervisor I asked for after an hour. I told him my issues and Randy ** of North Carolina first words after waiting all that time... And blowing a gasket having to complain about the company EVERY SINGLE MONTH... FIRST WORDS OUT OF HIS MOUTH WERE... "I can't". I didn't even wait any longer for the rest!
This is outrageous that there is NO GOVERNMENT AGENCY made to help citizens actually HELP CITIZENS and only are for big business. I contacted the OCC, Help with my bank, Justice Dept, Senator office E-Mail: **. Scott Walker doesn't even respond to emails sent way in Dec. (12/28 and again 02/14/2018). NOT A WORD - no help at all. I'll be having illegal foreclosures letters sent soon I'm sure (since I'm paid up a month in advance). My insurance goes up - my payments go up because of adverse bogus foreclosures - they already took one house from me. Chase was ordered to reverse my foreclosure and found guilty of illegally taking my house by false documents and adding on their own insurance for $2200 which they billed twice in one months so I'd lose my house. Guess what - for my $165,000 I had listed with Multi listing during the foreclosure - I was sent a check for $8.95! NO JUSTICE!
Our local bank sold our mortgage to Bank of America several years ago. We have had no problems with them concerning auto payment of our loan. However, we have sold the house; and the process of getting thru to a representative to obtain closing statements (we had to get 3 because the date kept changing), is a nightmare. First, let me say that the representatives are trained well--both in helpfulness and accurate information (with one exception). Today, I had to get an updated closing statement, and was on hold 90% of the time between 9:30 am and 2:15 pm CST.
Next, If I ever hear a recording stating that says "my call is important to us," I will go crazy. It took me all this time (mostly on hold) to get what I needed to move the closing statement forward two days! That cost me dearly in terms of performing my "paying job." If a bank sells our mortgage loan to BOA in the future, I will figure out how to refinance it with another, smaller bank. I have wasted another few minutes with this review, but it was well worth it.
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In 2004 I took out a equity loan with Countrywide and Bank of America. I was having difficulty making payments but I always paid sometimes late. Bank of America was not understanding and customer service was terrible. Bank of America sold my loan 2 times with Greentree and Direct. They also filed a fraudulent bankruptcy on my home. They charged all kinds of fees. But I always was able to pay. Now that the loan is almost paid they took the loan back from Direct. And are adding they say unpaid interest on the loan. Something called amortization. If I am one day late they charge interest and at the end of the year they add the interest. Making it longer for me to pay the loan off. Bank of America and Countrywide ripped a lot of people off. And still ripping me off.
We have had this horrid bank for 20 years. In the beginning, they were top notch with customer service, and our mortgage. Fast forward to 19 years later, mortgage was, sold. We are being completely ripped off and robbed by a home equity line that increased by 2 1/2 times the original payment. When trying to get assistance, (because they claim they are "here to help"?) Calling them is worse than a ROOT CANAL!! You are transferred 15 times, and assured that your situation is being handled... only to find out that they really could care less!! Nothing that I have contacted customer service about has Ever been resolved with 1 phone call... can't wait to get EVERY dime I have OUT of there!! I have even complained to Consumer Finance protection. To no avail... because Bank of America has their OWN representative that handles complaints!!! What a JOKE!!
Always friendly, helpful and seem like they know what they are doing! They are accurate and provide answers to any questions I ask. They are very helpful. They can answer all questions I have about their banking business. They are always cheerful, and it's a pleasant place to bank.And they are helpful with answering questions I may have.
Had locked rate that was not honored by BOA. Frustrating process with poor customer service. Felt cheated and taken advantage of. Over 12 years of doing business with them did nothing for us. Joshua ** from NC sucked and you could never reach him, he never responded to email or calls, never returned call, worst underwriter. We been self-employed for 6 years and Joshua claimed there was a risk in loaning money to us. The sellers were so nice, they kept extending our contract in hopes we get to closing. A week before closing Joshua wants us to give 150,000 as down payment which is half of the home value and he claims that there is still no guarantee we will get the mortgage.
What a joke. If we had $150,000 in cash we wouldn't ask for help. We will close our personal and business checking accounts after 12 years, they basically told us we don't care about you. He gave a word if we paid our car loans he will approve the mortgage. We spent almost 20,000 in cash paying off the cars, we lost three months in hopes we will get this loan, lost the house, lost the money that I could have used elsewhere instead of paying off cars. Keep in mind we make 200,000 gross income, and we were willing to pay 70,000 as down payment with a 760 credit score and they basically said they can't trust us. Well screw you Bank of America, because another bank not only pre-approved everything but already did all the paperwork in one day for another house. DO NOT waste your time with this bank. Go elsewhere please, stay away from this bank.
We have had a mortgage with BOA for the last 15 years. There website is very easy to navigate for all purposes. Whether you need to make a payment, or find any historical data pertaining to the mortgage, it is very easy find and print the information. Nice bank to deal with.
The company violated Reg Z and the grace period and had to back it out pretty regularly on our mortgage. Then they started nickel and dime charges so after 30 years I closed all of our accounts with them. I am a retired CPA, BSA and programmer. They went downhill fast.
I had a credit score of 892, a paid house worth 1 million and other assets, like stocks, bonds, worth also well over 1 million. I applied to BofA for a loan of 500K to buy a second house, planning to move over there and sell my actual house after the purchase. Initially, BofA said there is no problem, and after about one month of documents supplied, my application was rejected with no good reason mentioned. All attempts to find out why this happened were futile. Since I am a Bank of America preferred customer and I used this bank for all my businesses and personal needs, it was somehow surprising I could not qualify for this loan.
We spent six weeks negotiating with Bank of America a loan for a resort property in our state. We jumped through every hoop, providing all paperwork, etc., negotiated an interest rate and for six weeks all was good. One week before our Friday settlement, we get a phone call that we may have a problem with the flood insurance on the property but that it will all be worked out by providing us with an exemption and that settlement should not be held up for this minor issue, oh, and, "Have a great weekend." This was 4:30 in the evening on a Friday.
After repeatedly contacting Bank of America on the following Monday and Tuesday with ABSOLUTELY NO RESPONSE FROM BANK OF AMERICA, we were contacted on Wednesday (48 hours before settlement) saying that Bank of America does not offer loans for waterfront property!!! We have lost almost $50,000.00 in penalties for removing monies from our 401K, expenses for the loan documents, appraisals, etc. During this process, all online updates took quite a while to make by the bank and I was reassured that everything was okay and that online updates just took a little longer. It has been a few hours since the phone call this morning and already, my online account has been wiped clean of the loan account information!!!
I have been with Bank of America since high school when I first opened my accounts with them. Their fees were always fine by me and I had no issues... Until I used them for a mortgage. This past fall I went in to ask how I could safely put cash (declared) into an account I would eventually use for a mortgage down payment. I was told, "Oh yes sir. You want a business account and you can use this for your mortgage needs." Fast forward months later (business savings account all stalked up with basically my 20% down payment) I found a condo, offer accepted and was already pre approved way back when.
A day after I signed all my disclosures, Chad **... My loan department guy calls me and says: "Sorry you can't touch the 20% down payment you just put in your business savings account because there's a law we didn't know about." Yet I opened my business account based on lies saying I could safely use that account for a mortgage. Better yet they tell me that money is now frozen and I could only use 3% of it for my mortgage... Yet my condo offer was based on a conventional loan which I was well prepared to pay my 20% on... But they blocked me and lied to me. And it ruined my first home buying experience/attempt. I will soon be leaving Bank of America because of Chad ** and the loan dep. They are one of the worst and most crooked banks out there and they lied to me, face to face and in writing.
Also fun fact my realtor couldn't believe they also asked for my 2017 taxes by 2 days after I signed disclosures. (Realtor explained most banks would give you longer or not need more than the 2 years they already had from me!) In closing all I can say is stay away from Bank of America especially in regards to loans. I will be buying a house in full instead this year thanks to Chad ** and Bank of America bittering my experience as a first time home buyer and being lied to and screwed over and losing a condo I did want.
Also in my denial letter they actually had the nerve to put... Lack of funds as a reason for denial. They literally have my 20%+ amount for down payment right there but blocked me and didn't let me touch that money. Do yourself a favor and stay away and make sure to especially avoid Chad ** of BOA North Beverly MA. or any of the Mass branches!! Bottom line... A bank who lies while staring at your down payment in the face... Should be avoided!!
I contacted BOA in writing and via phone to request that my PMI be cancelled based on PMI flyer included in my mortgage payment received letter. The LTV on my property is below 80% based on their flyer. I was told someone would contact me within 7 business days to let me know if I qualified. I exceeded all items listed their flyer. BOA never called and I had to file a complaint with Consumer Financial Protection Bureau to get a call from their compliance division. I received a letter saying that they would not accept my tax office appraisal value for my property, they said I had to pay $500 Core Logic to do an appraisal.
They also said that my LTV had to be 75% which contradicts the information sent out by them in the flyer. I asked if I could qualify by just paying down the loan to get it under the LTV requirement and they said (no) that I would still have to pay for an appraisal. They will milk you for every dime they can get. They are hoping that I will not pay for the appraisal and drop my request so they can continue with the PMI. Don't ever use BOA for your mortgage. Loan Depot, Quicken Loans, Rocket Mortgage, and etc. would be better. They want and would appreciate your business.
I had a bad experience with Bank of America. I applied for a mortgage of 150,000 with 20,000 down having no debt except a federal student loan with a payment of $279 + lease car payment $112 and a stable $72,000 salary from the City of New York. I was turned down because the mortgage broker could not figure out my salary. He was given all the paperwork from the City of NY, but could not comprehend 2 sentences in plain English.
My friend and I purchased our homes in 2009. I have NEVER been late with a payment. I went through a loan modification to get a lower interest rate and 6 months later, BOA informed the credit bureaus that I was late with three payments. I contacted BOA President in North Carolina and sent all the necessary documentation to prove that I had never been late with a payment and that I was informed while going through the modification period that if I was late or missed a payment that the modification would not be approved. I was assigned a loan officer who investigated and said that I was in fact late with 3 payments and I tried to tell her she was incorrect. I re-sent all my documentation and they still would not retract the fact that I was NEVER late paying them.
Well today I received notification from BOA that another company would be taking over my mortgage because these greedy, rotten ** sold my mortgage. I will NEVER deal with BOA again. I can't wait until these ** go under and all the top people go to JAIL where they need to be. My friend informed two months ago that they did her the same thing, sold her mortgage to another financial institution. I hate these **. I am going to refinance my mortgage through my credit union, ** ALL THESE BANKS!!! I hope somebody starts a CLASS ACTION LAWSUIT against them, I will definitely join in!!!
I had two loans with BOA - the one ending in ** was THREE MORTGAGE PAYMENTS AHEAD - when the computer sent me notice it was behind on or around June 20, 2016 - I don't have prepayment penalty. On June 29th I sent a complete list of all the payments (certified mail) - and even the canceled checks to BOA. - On Aug 2, 2016 CHRISTOHER ** acknowledged receipt of the detailed letter but I received a FORECLOSURE NOTICE ANYWAY on July 18, 2016 - even that my payments were 3 months Paid in ADVANCE! Asking for $12783.03 to stop the bogus foreclosure. I sent a check immediately that day for $1273.03 certified mail to stop the computer from foreclosing my house with a bogus foreclosure.
That check however was NOT acknowledge or cashed - so on Aug 11, 2016 I sent an additional check for $1300 to again stop the foreclosure and found that my check was actually deposited into someone else (Robert something in Amarilla, Tx) - so my foreclosure was sent to Seterus for foreclosure now 3 monthly payments ahead and two checks totaling $2600. to stop the bogus foreclosure to boot placed in someone else’s account! I made several complaints to the CFPB (one of several complaints) an alleged financial protection agency - but they don't do a thing other than push papers - same for the Office of Comptroller of Currency.
I'm still out the $2600. For the bogus stop of foreclosure - didn't get credit for all those payments BOA put in escrow or principal that started the attempted foreclosure and never was even investigated for putting my money in the account of some guy in Amarita, Tx (as you can see was crossed out on my second check to BOA and re-deposited in the Seterus account. BOA still has another loan of mine at a outrageous 8.25% interest and still is losing my payments and now recently they added about $100 to my monthly payments because of incorrect bookkeeping. I'd refinance but my ID was stolen and I keep getting bills for credit cards I don't have. They are really taking advantage of me.
I already told them months ago that I couldn't afford over $512.00 per month in payments which they negotiated years ago. - Now they are screwing me over again. I attempted to call them today but "Paris" in Tx couldn't even find my account by the account number and after on hold 30 minutes supervisor Naomi ** couldn't correct my account and couldn't give me anyone that could - as I have to complain or call every single month to straighten out my account! I need to have this Bank investigated for FRAUD - (I'd like my ID theft investigated as well - so I can get a better interest rate.) I need to have my account sent to a different loan company (NOT Seterus as they are in cahoots I believe!) Thank you - enclosed is the copies of the bogus foreclosure and of my two checks made out to BOA and cashed by Seterus after being deposited into someone else’s account.
My wife wanted to refinance her mortgage loan and take advantage of lower payments. After someone came to the house and did an appraisal l (not free) and after other charges they denied the loan because of low income. At the beginning of the process I told the agent that I was willing to sign the deal since I do have much better income. He stated, "Don't worry, you don't need to sign"... I seem the whole deal as a payday for a friend. The loan was denied, hate WBOA (Worst Bank Of America).
Horrible experience with OUR preferred bank for past 40 years. No customer service, arrogant loan processors, underwriters, inexperience staff. Avoid them at all cost!!! Got to other financial institutions who treat you with dignity and respect especially when you are their PREFERRED CUSTOMER for past 30+ years. They should have Senior Executive review their process review these staff and how they treat their PREFERRED CUSTOMERS. We have our entire household bank with BofA for past 35+ years and are COMPLETELY DISSATISFIED with BofA. I wish there was a survey form where I can provide reviews to Senior Executives at BofA.
I'm refinancing my mortgage. The title company needs the payoff information. They have requested it to be faxed twice. I've requested it twice. We've received nothing after two weeks. Every other company and loan I've ever dealt with allows the loan owner to print the payoff document from their website with a log on. BOA does not have that option and they don't respond to requests timely. This is extremely frustrating and quite frankly, ridiculous. I will never use them again.
First of all a little background. I'm a 53 year old eye doctor with a credit rating of 794. I own about $1,200,000 worth of real estate and about $300,000 other assets and absolutely no debt. Instead of selling one of my rental properties I decided to try a home equity loan. I was looking for maybe $100,000 to start up a business. They took 4 months of tediously asking for information every 2 weeks until after that much time they told me no. What a waste of time.
Bank of America is the worst bank in history. The customer service people are always rude. I have had Bank of America for a while now, and I wish I could have a better bank. Trying to lower my interest rate, tried to modify my mortgage, tried getting approved for HARP. And this Bank of America won't work with no one. I hate this Bank. BANK OF AMERICA IS THE WORST BANK. They overcharge, don't work with the clients. THEY JUST DON'T CARE CAUSE THEY ARE SO BIG. My name is Harry **. If a class action lawsuit comes up about this bank I would join. If they went out of business I would celebrate for 3 years. I never hated a place of business like this. DON'T USE BANK OF AMERICA FOR NOTHING. Don't give them more power. They need to be under investigation.
Not only worst ever bank, but worst ever anything I've ever dealt within 25 years of business. Pre approved for mortgaged, charged $600 for appraisal. Got email that said, “Sorry good luck with another lender”. -5 stars if I could vote that.
This was a great experience. Bank of America's staff was absolutely amazing. The process was smooth. Excellent follow up. The loan officer called to ensure I had everything covered.
Our Mortgage company went out of business and BOA took over our Mtg. They were the worst! Customer service was bad - communication was terrible and the whole take over was horrible. I would never use them again for anything.
This is my second mortgage with Bank of America. They have always been very helpful and it is also where I do my banking. I recommend them to anyone that needs a good thing.
Lost my home behind BOA! In beginning was paying extra principal payments. Years later my husband lost his job, tried unsuccessfully to qualify for a modification loan. After several reps, reprocessing, appeals, we were denied because our account wasn't in arrears (?!?) Placed house on market… 1.5 yrs on market during housing recession. We ended up having to perform a short sale.
I really liked BofA a lot but they sold my mortgage after about 5 yrs. Which I did not like and was without any talking to me about why this was happening. The company they sold it to is a Rinky Dink Company, which is only out to make a dime any way they can. I'm not happy about it at all!!!
BofA discriminates if you are **. I attempted a loan and noticed Oriental Cultures were greeted and given loans before **. So don't bother.
Bank of America Mortgages Company Information
- Company Name:
- Bank of America
- Company Type:
- Ticker Symbol:
- Year Founded:
- 100 North Tryon St
- Postal Code:
- United States
- (800) 432-1000