Bank of America Mortgage Reviews

Apparently they give themselves SIX MONTHS to approve a qualified assumption, which essentially is just removing one name from a jointly held mortgage. This is going on since the beginning of April. The agent working on my request is on extended leave. Her MANAGER is on extended leave. His "backup" is out of office until next week. No one takes accountability to see it through to the end.

Back as many, did we put our HELOC on pause. We decided to take it off. BFA has you paying the first three months double the rate you were paying to see if you can handle it. Then they ask you to prove your income again to see if anything has changed.. then they ask you to sign a paper to assembly reinitialize. This started in February. We are now essentially in mid May. We sent back the paper. Our fault was that we did not send a request for signature.

Hello Bank of America, I started an assumption loan in early January with Loan Processor Ty **. I sent everything she asked for weeks. She said it takes up to 90 days for approval. I checked on the loan Monday, May 5th and the file had been closed in March. I never received any warning by email or letter that the file would be closed by a deadline. She said we missed one email asking for a utility bill. She admitted having everything else she asked for. Please re-open the loan application process and speak with Ty ** about the way she treats clients. We sent the utility bill on Monday to her but, want a new Loan Processor. I believe I was treated unfairly by Ty **. Her communication was terrible.

I applied for a HELOC and this bank was irresponsible on how it went about it. They hit me with a hard credit inquiry that tanked my credit rating 25 points- totally ridiculous. And to boot they are asking for crazy info- I NEVER USE THEM AGAIN.

I had a very disappointing experience with Bank of America's loan process, specifically with Justin ** and Danny **. Initially, Mr. ** assured me that everything was in order after I submitted the required documents. I trusted his word and proceeded with escrow, only to be transferred to Mr. **, who asked for additional documents. Despite sending everything requested and being told that "everything looks good," my loan was ultimately declined during the final review.

Bank of America was great for 28 yrs, I don’t even know my the transferred my loan to Shellpoint. Either you don’t care or didn’t know how back this company is. Check the reviews on the BBB site. I was thinking about banking with you, now it no way and will not recommend banking even though you're in walking distance.😒

Total nightmare. I applied for a HELOC and uploaded tons of documents. Bank of America said they couldn't read some so they had to be uploaded again. Then they came back with a kind of credit with Umpqua had to be paid off with the funds. Fine. My purpose was to consolidate debt. Here the problems started. B of A and Umpqua could not work together to get the payoff. B of A insisted I had to get this. I tried and they wouldn't accept anything I sent them. The application was closed with no notice to me. None. When I checked on the status and said I could pay off the other line of credit they wouldn't accept the document. It came in too late for the loan processor because they are on East Coast time and I am on West Coast. Be warned West Coast people. B of A stops all business on East Coast time. Then the loan application was canceled with no notice to me. Two and a half wasted months with them. Will never bank with B of A.

On July 1, I logged in to make my mortgage payment as I do every month. I make the payment, it shows as scheduled, and I instantly receive an email confirmation. Except that this time there is no way to just make a payment from my checking account. Instead there is some convoluted system using language that says nothing about a payment, just confusing language for the customer transferring to BOA. So, I try, and all that happens is something saying something is processing, but also something saying that nothing is scheduled, plus, no confirmation, no email saying any payment was made. So, I wait for a while for the typical email confirmation, but no confirmation ever comes. So after about half an hour I log back in to try to see any activity, and nothing shows, no activity on the account.

Stay away!!!! They are dishonest!!!! They have no idea what they are doing!!!! They are proud of being no good ... LOOK AT THEIR REVIEWS EVERYWHERE. NOTHING BUT BAD STUFF ABOUT THEM. GO ELSEWHERE!!!!

The loan application process was the Worst experience ever! Customer service is non-existent! Because of my 25 years+ of being a BA customer, including my current mortgages and other accounts I decided to apply for a new loan with BA. Only when I followed up with the loan officer time and time again she asked to submit documents. After 5 weeks of this pattern, I ended up submitting over 3 dozen documents. By then I had requested another update on the timeline for a DECISION of my loan application and no response! After following up one more time the loan officer got back to me asking yet for another document, and totally IGNORED my request! That was the last time I heard from them. One month later to this date I did not hear from Bank of America at all! I recommend doing your research and if you decide to move forward, be prepared to deal with this institution the same way I described above.

Horrible bank. I'm did worked at one of their clients that have a mortgage through them. They will not release funding to rebuild the elderly disabled home after is got flooded out. They also won't pay contractors for work that was done either and dared the contractors to put a lien on the house.

I do not recommend Bank of America home loans. I sent everything they asked me for to Mr. Ricardo ** 3 weeks ago. When I call he never answers. He is always outside his office. I called the supervisor and he never called me back. I feel like they are treating me like third class. Until now, they have not processed my request. It's a waste of time.

We have been trying to establish if Bank of America is capable of helping us with the line of credit and they proved after 50 days of wait and 20-30 hours of our time loading all non-making sense documents that they are simply incompetent and that we could have had our answer within first 2 minutes with competent person. Apparently BoA does not have these kinds of people in their bank or I haven't met them yet.

Having been a BOA customer for 20+ years, my husband and I decided to do a HELOC through them to add a pool and make some other improvements to our home. Having good income, credit, and equity, we figured this would be a relatively seamless process. To begin, the communication is horrible. Once we applied online, we could not get a phone call, or a return phone call from a person. They assigned an advisor who tried one time to send a secure email through a program that could not be opened on our computer. I left several messages and emails asking what was in that secured email with no response. After 10 days, I finally got a callback and I found out it was asking for documents that I had already submitted during the initial application process and they were simply "missed." This 10 day delay ultimately allowed our application to expire and we were told we had to reapply- and have a second hard credit pull done.

I had a first-time-ever appointment with Bank of America to buy a new home. The location was at Sawdust, The Woodlands, Tx. I met a bank agent, named Cristina **, asking for loan options. Some information was missing from my side, so I went out and got it. I called and sent emails, to follow-up the paperwork. Almost two weeks later she still not taking calls either replying emails. Lousy service!

Upon filing a new application for mortgage refinance has taken 2 weeks with finally getting a call from the processor stating that I may be out of range on loan to value, I have over $800k in equity on my home and needing just a refi or 2nd mortgage to pay off previous bills, HELOC and car loan. Processor stated that he will be in touch, forget you! DON'T WASTE YOUR TIME WITH BOFA, go with a local credit union, you'd stand a better chance.

I am a disabled Veteran and they made up a story. And They cleaned me out $644.00 after they closed my account and put it under review, If I could afford it I would sue them for millions for taking advantage.

Mortgage and Entirety of Company. My husband and I have been dealing with my father's accounts at Bank of America (BOA) since he died a year ago. The first department that was notified of his death was the mortgage department. My husband and I have been paying on the loan since he passed. We have been into branches and the branch called and we have called directly; every time we speak with someone from the BOA side the account does not show that my dad is dead nor who the executor is for the account. We have sent his death certificate and executor papers to BOA mortgage and numerous other departments (because departments do not share documents) and we have to send them again because the information is still not showing on the mortgage account.

I received a letter from BOA stating that I'm a valued customer and I decided to apply for a HELOC loan. I don't feel valued rather devalued, it turned out to be a long and tedious process, I withdrew my application and don’t recommend BOA to consumers.

Made appt Indianapolis Zionsville. Met w/ loan officer mrO. To get insight & info on mortgage loan. After going through numerous Q& A He was very rude disrespectful. Called me Angry! I ignored the ignorant remark. Which made my blood pressure spike high. That has still affected mentally. I continued the process. He tried to undermine answers I was given him In reference to mortgage insight. Without even doing the application. I had a feeling He already seem to be stipulating I wouldn’t be approved!? Daughter & I was constantly correcting & misspellings info he was inputting on. Shared screen! He was very irritating @ this point. End results We got up & left.

I have been trying to reach a human in the Lien Release Dept. I was told they don't have phones. I was given a phone number to call but it doesn't take me to that Department. I had to result in contacting the CFPB to hopefully get some sort of resolution.

BOA wasted our time & effort in trying to get a HELOC, by requesting hundreds of pages of documents sent to them, and many were irrelevant. Then they wanted more papers, and then still more. They were never satisfied. We Finally gave up, when we realized they never intended to give us a HELOC, in the first place. Being out of debt, with a good income, & 820 credit score didn't matter to them. Maybe they only want all your information. Don't let them waste your time, & steal your info.

I applied for a home-equity line of credit in late January, and after 3 1/2 months of providing documentation, pay slips, explanations, tax returns, corporate information, and ALL of my personal information, …. I was told that my loan was denied! 3 1/2 months!!! Could somebody have made a decision earlier? They certainly dropped the ball and nobody was man or woman enough to apologize. They said they were trying, that was not true. They are liars, inexperienced, and even discriminatory. This happened at the Coral Gables, Florida branch. I actually worked at Nations Bank 30 years ago and I know the banking system well. What they did to me was outright harassing, and I am an educated professional with over 40 years experience. SHAME ON BOFA!

I applied for a HELOC on 5/12/2023 (application completed and email with facts sent to BOA Processing POC on this date). Processing did everything they could to get me to closing by 6/23/2023.. Underwriting, however did not do their job. I applied for a HELOC to use funds to purchase an investment property and I identified this in my application and my email dated 5/12/2023. I spent hours providing BOA all documents in a rush thinking that BOA would do their due diligence and preliminary review the documents. Underwriting came back 2 1/2 weeks ago and said BOA can only loan me ** not **K, no problem I said. Based on this requirement I sold stocks to make up the 20K difference, On Wed June 21, BOA asked for the following info: Outstanding loan info (provided already 5/24), proof property I previously owned had been sold 2 years ago (settlement sheet provided with BOA deposit of profit).

X2 Modification, Improperly crediting processing monthly payments. Took 6 weeks payment. Went into unapplied. Refuse to fix errors override, reverse credit. Not disclosing balance on escrow. Each month escrow statements miss payments.

I wish I could say my experience was good but it was not. I started the process March 8, 2023. Told the loan agent I had a hard close date of April 21st - today is April 17th and I was out in a loan I didn't qualify for - when I asked to expedite the application on 4/13 because I was one week away from needing to close was told I wasn't the their only customer. I was told my closing costs were going to $1900 and budgeted around it. On April 17th at 10:21 PM I received an email stating was told I needed $6608.00 liquid assets in my account the next morning as the VP told his team not to review my file until the entire $6608 was in my account.

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.