Bank of America Mortgage

Applying for a HELOC was supposed to be simple and fast. (They said.) Instead it took weeks to compile the needed information, they kept on asking for more, and then they used a outmoded formula to calculate your income which came out to be $8000 less than my actual monthly income. When questioned "how'd you get to their figure" they used a formula that to have equaled my monthly income I would have had to have a $3,600,000 "nest egg" to qualify for a $100.000 home equity loan, on a home "they say" has currently $300,000 in equity!!! Absolutely Absurd and Not Worth Your While!!!

My husband and I applied for A HELOC loan in the late part of October. It is now February going on March. Every other day they need something else, or they can't use this or they need signatures over and over again. Started with one really nice person and he left now. I'm with someone that clearly has an attitude problem. Her manager assured me that we just needed to send one more item. Sent it. Guess what? Now there are three more items. Sent that and guess what? It needs to be sent in different. OMG this place is a joke. Thank God it's only a HELOC and not a first mortgage or we would have lost any home we tried to purchase. They need to get their act together. Even the in house mortgage broker said they are a joke. I would never begin a mortgage with them again.

Been with BOA for over 20 years and recently had a problem with my escrow on my loan, tried calling the 800 number and what a joke, took me over an hour to get a person 'cause whoever they transferred me to kept saying, "Sorry you need ** department," and brought me back to the phone tree. I finally got to talk to someone even thought they were not in the Escrow Department. Took my information about my problem and said they would do one thing to fix the posting but did the total opposite and totally messed up my payment postings on my loan. I couldn't talk to anyone again so I messaged them via online banking, took days for them to answer and still didn't help me with my problem. I messaged about 6 times but took them two months to fix the posting on my loan and I still think it is incorrect. I am refinancing/closing in a couple weeks to payoff my 3 loans with them. No longer want them anymore!!! Take my advice, DO NOT OPEN any type of account with BOA.

Do NOT use Bank of America for your home loan. Incompetent, dishonest, ageist, and nefarious are just a few of the adjectives that come to mind when thinking of my family's experience with Bank of America. My parents, both in their 70s, and I attempted to apply for a new home loan. For three months we were given the run around, lied to, kept in the dark, and given incorrect information. Bank of America cost us thousands of dollars and a mountain of undue stress. When concerns were brought to the attention of the Vice President, my parents were patronized and dismissed.

Paid off my mortgage. Bank of America in its grand wisdom decided it would be a grand idea to send the lien release to the wrong county. I called them up and asked them to send it to the correct county. So they sent a copy of the one they sent to the wrong county to my county. The problem is the copy has the wrong county's book number, page number and instrument number on it. My county has no record of my property with the incorrect book/page and instrument number. Several phone calls about the issue has yielded the wrong result. If they don't get it right next week I will be getting an attorney to force them to do the job right.

I went through a divorce recently and assumed my home loan to remove my ex. I will now have zero access to the loan details via online banking "forever". So basically, if you ever assume a loan at BofA, be prepared to forever lose access to the details. No recourse with any support team, no ability to send feedback to them. Just forever blocked unless I want to refinance. I now have to wait in line for 30-60 minutes to call their customer service team any time I have a question about my account or want to see any detail about it - payments, balances, etc. If this sounds too crazy to be true, or that my situation is some type of strange edge case, be sure to know that it is not. I really can't believe that this is their policy.

My sister received an approval to purchase a home in July after months of repeated documents with various errors and weeks of bogus disclosures the home sell fell apart in October. She couldn't get a closing date every date was postponed to a later date until the seller pulled out of the deal and I lost $500.00. The primary person assigned to my loan wasn't available most of the time and when she was there was repeated emails asking for documents that already had been submitted. In October I was told the process was being reviewed in its entirety again. Stay away first time home buyers. They will make what should be a a joyous occasion a huge disappointment.

Have been with BOA for 4 years and very poor service. Even a small bank has better website than BOA as you can never understand how the payment gets posted as there is no before and after balance for you to track. Poor Customer service and I really don't know how they are in this business.

Go with another bank! I have been documented to debt for over 3 months while my house was being built. I have excellent credit with great income and very little debt. I have to give them documentation for every little transaction on my checking account. Example: They want copies of my check stubs for Payroll direct deposits. I was scheduled to close on July 7th, and called my loan officer Rex ** on July 2nd to ensure they have everything needed to close. He stated we are all ready. I drove back over 3 hours from vacation to closing and got a call an hour and a half prior to our close time, notifying me that Bank of America was not ready to close.

Late in Fall 2020, I accepted a job in SE Iowa. The job required that I move from Denver. I contacted BOA mortgage and pre-qualified for a loan. Within two weeks, I had a contract on a house. My senior loan officer and his team realized that I was to begin my new job on Monday, January 18, 2021, so they, my realtor, my attorney, the closing company, and I all worked diligently to get everything in place.