Bank of America Mortgage Reviews

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.

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.

We have been attempting to reach Stephanie ** at 1-800-943-2975 for 5 days now. She hasn't returned our phone calls or emails. Her voicemail said call back if she doesn't answer. We did and some very nice reps answered the phone, but weren't really helpful. On the 5th day we asked for her manager and she never answered or returned our calls. I'm the listing agent for the house for sale and will never accept an offer from a buyer who has this bank as their lender.

Due to Covid it took many hours of extra work to get all the documentation that was needed to close escrow. Loan Originator Sylvia ** was extremely helpful and diligent about all details. Closing took a little longer than expected but went through without a problem.

Bank of America is less than sub-par. I've had my 30-yr mortgage with them for 17 years now and it recently went from forbearance because of COVID to a modification (basically just moving the Apr-Oct 2020 pmts to the end of the period). However, their internal systems can't seem to show the payments applied correctly. I keep getting called incessantly by their reps to collect “unpaid” statements, except when I point out the letters they sent me where everything is perfect, they apologize lamely but fail to fix the error(s). They've even recently reported the supposed missed payments to the credit agencies which have caused my credit ratings to drop 100 points. They are an awful servicer and not competitive on initial rates. Avoid them unless you have some connection with an internal banker and they are your last resort.