Bank of America Mortgage Reviews

I then went to a Bank of America office and waited through the customer service line. The teller, of course, could not help me. But I could wait for a loan specialist. Who also could not help me, but suggested: have you tried calling our 800 number? They seem to have just cut all customer service support. They may purchase mortgages from other banks because they can process them more cheaply. Why bother paying customer service? Ridiculous and frustrating. Why would a bank make paying them so arduous?

"It's with Underwriting" is the go to excuse for the delay. I have already been told I'm approved but "with conditions" which I then quickly satisfied. Now it's back "with underwriting" again and today I was told by a live agent that "Underwriting is only two people and it's a manual process. They can take as long as they want and technically we are still within our 90-180 day window of approval." The agent expected that I would just accept the response of "this is just how it is". He went so far as to say "Underwriting may even come back after all this time and still want more information. That's just how it is!" He told me he will "File a complaint". I can already tell that's going NOWHERE FAST!

I requested the name of the senior manager who heads the dept and was told they "cannot provide that information" and that "there is NO escalation in the Qualified Assumptions Dept!" HOW is that possible in ANY institution, let alone a corporate bank!?! There is ALWAYS an escalation point! AWFUL process and WORSE customer Experience from a reputable institution! Disappointing that I will need to choose a new institution when financing my next home within the next 12 months after being a BofA Platinum Honors member for over 20 years!

A month goes by we call them and we ask what's going on. They say they never received the signed paper. They then said we had to go through the process all over again that means pay the first three months etc.. now we're in June. Now we're waiting for a correspondence to start all over again. We don't hear anything we reach out to them in approximately July. Hear nothing and then at the same time we're going to try to escalate in Bof A. I do a background check on my name for a job. I see my name in a foreclosure case. Same exact day we get a letter from the county Supreme Court that we need to appear in five weeks in front of an arbitrator or we're gonna lose our house

Long story short, eight months go by where Bank of America just at the last second asked for things the day before the court date and asked for a little petty things that you wouldn't even ask during an audit it becomes very apparent to the court arbitrator. I then say it took the bank three weeks to start a foreclosure on us but yet now it's taking eight months to go through this process just to approve or deny.

The court arbitrator to her CREDIT told the bank rep that if they do not have a decision one way or another in the next appearance that they're gonna need to bring a bank lawyer, a bank official rep, and they can no longer tack on the payments and the penalties. Because you don't know this, but when these things happen, they don't allow you to pay the mortgage and they just keep on tacking on the mortgage payments with penalties and guess what it's on your credit that you didn't pay it.

Two days later, the bank approved to re-initialize the mortgage, but guess what the end date of the term was the same but now we have between the penalties and the mortgage payments twice as much money on the HELOC. My payment went from 1200 a month to 2500 a month and my credit was destroyed which I'm gonna clear up. Now I laid too hard that they've been doing this, especially with people that are senior citizens, have a lot of equity in their house. There are many people that wouldn't even fight this because they wouldn't know how or they wouldn't have the resources too.

It really really hurt us and if this dragged down another month, I would've maybe been really in deep crap because my job all of a sudden decided to lay off people first time in my lifetime. So DO NOT TRUST B of A!!! We bailed them out in 2008 and then they have the nerve to do this stuff to try to take houses!!! And there's a lot of this look at the damn rating. I've never seen anything like it. There's not one line in what I just said.

This entire process was frustrating and stressful, especially since I was already in escrow. Clear communication and a thorough evaluation from the beginning could have prevented this situation. Thankfully, I was able to secure financing through another lender and successfully purchase my home, but this was a situation that could have been avoided with better professionalism and transparency from Bank of America's team.

I regret placing my trust in this process and giving positive feedback early on. My experience has taught me to prioritize transparency and accountability when choosing a lender. I hope Bank of America takes this as an opportunity to improve its communication and customer service practices to ensure that other clients do not face similar setbacks.

After searching the site all I can find is a place where it says the same thing, that nothing is scheduled, and that something is still processing. So I try again to make a payment, and again, all I see is the same confusing language about transferring, nothing about making any mortgage payment. Except that now it shows 2 processing, but still, nothing is scheduled.

Now I’m getting worried, all I can see is bounced check/payment/overdrawn checking account, all because of BOA’s messed up system and website! So I immediately call for support to get one of these “processing” cancelled, and all they can say is they have no way of doing it, hence no way of helping their customers! Unbelievable! I am VERY upset! I cannot believe that a company is so out of touch, so uncaring about serving their customers, that they are willing to leave them hanging, to suffer the consequences of BOA’s inept and messed up system! I am VERY DISGUSTED with their total lack of care for their customers, and that they simply cannot and will not make things right!