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Property Owner | Bank Of America review from Los Angeles, California

We have been in a loan modification with BOA for over a year!! My GMAC loan modification for my residence only took less than three months. What is BOA doing with all the bailout money they received???? They sure are not helping all the people they loaned money to. BOA is not being sympathetic or even trying to renegotiate terms that all parties are happy with. This is not a professional way to do business and it is certainly not a way to get future business. I will never get another loan from BOA as long as I live and many people I have spoken to feel the same way. You would think a smart business person would want to settle instead of foreclosing or holding on to hundreds of properties they can not get rid of. I need to save my investments. How do I save my property and get rid of BOA once and for all!!! Thank you. Melissa Warrren
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Laurie
#186464

Melissa - Contact me please email maxexptx@gmail.com Same issue facing home foreclosure - look at my post on here - CLASS ACTION

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#196938 Review #196938 is a subjective opinion of poster.
Service
Bank Of America Loan Modification

B of A Refi misleading costs | Bank Of America review from Los Angeles, California

If you refi your mortgage the following things will defiantly happen to you. 1. B of A will charge you an outrageous application fee in addition the the $35 that they will charge you to pull you credit. 2. If you ask them for a good faith estimate of what your out of pocket expenses will be they will fail to tell you that they don't count the $400 application fee as an expense. You will find this out latter after you are ready to close the loan. 3. B of A will want to send you one set of documents to review and have you show up at close to sign a second a second "duplicate set". B of A will not a have representative of the Bank in attendance when you close your loan. Only a Notary will be there. Notaries can not answer any questions that you have regarding the loan. They are only there to witness your signatures. Things that happened to me that could easily happen to you. 1. I talked to 3 different loan officers during the process. As each successive officer became unavailable I had to find a new one. 2. I was never able to communicate directly with the third loan officer. The email address that I was provided was invalid. He never returned any of my calls 3. All my communications with the bank were with an administrative assistant and eventually her supervisor. 4. Due to misunderstandings regarding the amount needed to close the loan my check was short. I closed the loan and waited to hear from the Bank. No attempt to call was made by the bank. When I called them they informed that the new loan was not closed and therefor I was paying interest on both the old loan and the new one. 5. B of A charged me twice for the $400 Application fee. They never noticed this. When I pointed this out to them It took them 41 days to refund the over charge. It took them 60 seconds to bill me twice via phone. 6. My escrow refund and first mortgage statement was sent to an in correct address. They were returned to the Bank. The Bank made no attempt to contact me. I had to call them. It took 48 days for me to receive my escrow refund. 7. The B of A has a customer advocacy department. After recounting these events to my "advocate" I was told that everything that happened fell within the Banks guidelines for good business practices. This includes his review of emails sent to me by a loan officer that clearly show the Bank misrepresenting the way that the $400 "application fee" would be accounted for. In addition he informed me that since the government has allowed the Bank to forgo a physical appraisal in order to save the distressed owner $400 to $500 the Bank felt entitled to charge the $400 "application Fee".
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#196736 Review #196736 is a subjective opinion of poster.
Service
Bank Of America Loan

Lose my house for 2400.00?!?!? | Bank Of America review from Taylor, Michigan

Here we go. Lost my job, side biz failed and son was born with a birth injury in the last three months of 09. Applied for loan mod and attained trial payments untill fate of mod was decided. Payments were 343.00 less than intial payments I had made(without ever missing or being late for 7.5 years). Sent in all of my fincial info...three times. The only reason I did this is because I called for updates!! They did send on letter stating they need more info, which I provided within a week. 2 months after that I noticed my credit score was taking a huge hit and I was delinquent on my home loan. Called BoA and after about an hour of trnfers and new numbers to call, found out that indeed I would ruin my credit in the process of modifing my loan. But based on the out come, i.e. whether I was deemed worthy of the mod, my credit would be cleared, but if I did not qualify, I was to repay what every I was behind on during my trial period. That sucked hearing that. Then I was told to resend everything AGAIN!!! Never was told about the 30 day rule. Didn't know when the 30th day was either. This was in the middle of June of 2010. Faxed everything from my local BoA branch July 5th. Waited and waited. On 8/22/10 I recieved a letter stating I was declined the mod. Why you ask? Missed the 30 day deadline that I wasn't aware of. Called BoA on 08/23/10 and of course they saw nothing that said I was declined and I did in fact receive a temporary mod until my unemployment ran out of I found a job, in which case I would be granted a permenent mod. What a load off my shoulders. Until I got a deed in lieu of forclosure solicitation from who else? BoA. Called to find out what that was all about. I was told I was declined on 08/24/10. An appeal was issued and also declined. When I ask why I was told everything was ok a few days earlier, I was told the system didn't update until 08/24/10. How odd, right? Needless to say I still be making my temporary payments had I not called. So now I'm stuck mhaving to repay the difference of the five months I made the trial payments. $2400.00 by 09/24/10 or my loan is going to foreclosure review. By the way, that'a a day after my 31st birthday. So thanks for the present, BoA!
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3 comments
Anonymous
#187296

I am really frightened right now. I have been getting the run around from BOA since the last part of 09.

I have been receiving Notices of Intent to Accelerate. Each time I call to ask about the modification application, I get no information. I am told to give it a bit longer and that the records show my application is under review. Then I get a an offer for a Deed in Lieu of Forclosure.

Turn over your keys and we might give you $3,000 to relocate! After over an hour on the phone today being transferred from one department to another, I was left with the answer to give it another 48 hours and then if I hadn't heard anything I should call back. I was told that I was being considered by an internal loan modification by BOA rather than MHA because I was only 2 months behind on my payments when I applied!

I haven't seen anything on MHA sites that indicate that it is a requirement to be more than 2 months behind. It seems BOA is scamming us and I am really frightened of losing my home.

Anonymous
#187102

Had similar incident. Said they didn't receive initial paperwork but sent certificates for payments.

Called 3 times because of missing paperwork. All 3 times, B of A stated not to worry, paperwork was in order.

Found out 6 months later that I did not qualify because paperwork was not in on time. Now I need full payment or house will be foreclosed on.

Laurie
#186465

PLS Contact me - BOA is deceptive and predatory servicer. Class Action - We need to work together

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#196241 Review #196241 is a subjective opinion of poster.
Service
Bank Of America Loan Modification
Loss
$2400

Boa screwed my credit score . | Bank Of America review from Chula Vista, California

i am active duty navy and was deploying to Iraq, when i entered the loan modification program, in hopes of lowering the interest rate and possibly even the principle to the rate of my house current market value. i repeatedly asked if my credit score would be affected and they said no. They wanted documents sent by fax at first but i grew very tired of them saying they did not receive them, so i sent them by mail with tracking number after that. i had orders to afghan, then japan and when i came back they said i was denied because of missing docs. i am fed up and will demand they fix my credit score and will pay up to date with late fees. thanks for helping guys ,not. i have never been late on anything before so why should they be allowed to put late on my credit score plus late fees with a federal program from the president designed to help people and make the loans fair with the current value, specially since the big banks get billions of dollars to do this very thing. no body wins with foreclosure.
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Anonymous
#185535

I too have been given the run around by Bank Of America for the past 10 months. I first submitted my hardship information to them in Nov 2009, informing them that my hardship is that I took a education buyout and am now living on a yearly stipend ($27k gross), and savings. and this is the last year that I will be recieving that stipend. After this year I will be strictly living on savings till I can find employment, I have told all of this to Bank of America, and they could care less. Mind you I am a single parent who is head of household and don't recieve any other income nor any help from any other source to pay for me and my daughters expenses. My mortgage is around $1,000 per month. They have done nothing for me at all, but keep requesting the same *** (hardship letter, income stubs, tax stubs, savings account money available, etc.) 4 different times. At first I was running and copying and sending in all this information before the deadline that they requested, but it did no good they still have never once offered me any type of modification whatsoever, and keep requesting for me to submit what i have already submitted multiple times. I have also gotten denied twice, and they keep starting my process all over again. I just found out that the whole time I thought they were requesting a hamp modification for me that they only requested a "in house modification", hamp said they have nothing showing I was put in for a hamp loan mod. This is after 10 months of me constantly calling them talking to probably over 50 different people, sending in packets of information, etc. The last denial was supposedly because they didn't receive back the last packet they requested for the same info I sent to them 3 times already. I flat out refused to keep sending in the same information. After requesting that I be put in for hamp, not a in house mod, they have recently so called submitted me for consideration for the VA hamp modification program, and told me I basically have to start the process over. It's been several weeks and I have yet to even get the paperwork in the mail to start the process for the hamp mod.......

I am at the point where I don't even want to deal with this *** anymore, and definitely no longer want to deal with Bank Of America. So while they are supposedly in the process of sending me a new packet for me to re-apply for a modification I have decided to go another route, and recently applied for a VA streamline refinance (also called a IRRRL Loan) from a credit union that I belong to. I am current with my mortgage payments and have never been late, so I should be approved. They don't require an appraisal (so it doesn't matter if your house is worth less than what is owed, no income verification, and will let you roll closing costs into the loan. I am trying to go from a fixed 6.25% interest rate to a fixed 5.25% interest rate. My payments will be about $150 less per month. I can't wait till I get approved so I can tell Bank of America to kiss my *** For the people with VA and FHA loans who are still current I would strongly advise you to look into a streamline refinance, the rates are 4%-5% right now, so it's a good time to try it. And you should try this asap before you get in a position that you start missing payments, because the main criteria to qualify for a streamline loan is that you need to have a VA or FHA Loan and no late payments within the past 12 months to qualify. Keep waiting on Bank Of America to help you then you will simply watch your situation go from bad to worse, and they will have you in a position where you can't qualify to go elsewhere, and will simply have to stay with them and put up with their lies and whatever they dish out.

And I do want to share with people who don't know this, from all the research I have done lately on this topic majority of the people who do finally get a modification through Bank Of America, after all the hassle and time involved in trying to get it, they usually end up worse off after the modification. The reason for this is that most people are only given "temporary modifications", and during that time all payments are considered to be "partial payments" if they aren't for the original payment amount, and will be reported to the credit agency as "late payments", even if they are paid as agreed. If your modification doesn't become final then those late payments stay on your credit report. And once they deny you a permanent modification they then add in late fees, attorney fees, and any partial payments that you didn't make during the trial period, into the principal of your mortgage, so your payments "increase". And even if you simply apply for a modification, that alone is enough to make them force a escrow onto your account if you don't already have one, and that too increases your mortgage, and stays on even if they never approve a modification for you. So bottom line is you will get screwed if you really think they are going to help you, and actually let you get out of paying them even a dime of what is owed to them. They could care less about your problems, all they want to know is when will you be sending in to them the FULL payment owed..............

There are other options, people need to be looking into alternatives to simply waiting on Bank Of America to give them some help, because they really don't want to help, and if they do help you it will be at a high cost and detrimental in the long run.

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#196101 Review #196101 is a subjective opinion of poster.
Service
Bank Of America Loan Modification

B of A uses telemarketers to get your money | Bank Of America review from Willcox, Arizona

You get a phone call that starts: "Because you have been a loyal customer of Bank of America, we want to send you a $500 Walmart gift card. All you have to do is look over the information we send you about this program. We will charge your account $1.95. Look over the information and if you don't like it cancel and owe nothing. If you don't cancel in time, we will charge your account $13-$15 every month. Then we will send you your $500 card just for trying our program.... BALONEY! It's a scam. They take money from your account and send you their garbage and you look it over, cancel and you NEVER GET THE $500 CARD! And, in case you didn't cancel in time, they take more money out of your account. - Oh, if you say you don't want the card they keep asking Why? As long as you keep saying NO they will call you everyday sometimes up to 5 times a day trying to get you to say yes! So I'm closing all my accounts with BofA! They told me that I can "opt" out so I don't get those calls - but it would be a month before they stop calling me!
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#195886 Review #195886 is a subjective opinion of poster.

After six months I do not yet know of modification. | Bank Of America review from Show Low, Arizona

On my husband's death in March 2010 I applied for modification. I was assured all paperwork was received and my file complete as of last week in May. Subsequent calls to BofA told me of conflicting info, etc. Calls on 6/24 and 7/8 reassured me that I was 'in review'. My call on 8/3 gave assurance that it was out of review in sent to underwriters and I would hear from them within 15 days. A call on 8/26 sends me back to square one. I'm in review and an escalation has been requested. That means someone will contact me. My payment is $500 p/mo less than my new monthly income. Do I eat or go into default while waiting for promised relief??
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3 comments
Laurie
#186466

Pls contact me - BOA is DECEPTIVE - Class action filed in S texas. Investigating this as my injury increases daily. maxexptx@gmail.com facing foreclosure while in mod review - illeagal tx constitution

Anonymous
#183140

what a joke boa is...loan modification is a joke....after calling every few weeks, they requested additional paperwork, I faxed in the paperwork. I was told declined cause they dont modify 2nd mortgage...they couldnt tell me that on the phone 3 months ago? Never received any type of letter in the mail to this effect...call them every couple weeks for some type of help...paying 12% interest on 2nd mortgage...all they do is play phone games when u call...hang up on you, blind transfer you...this is criminal

Brian M
#182570

I was told that BoA does'nt call or write until they need something from you or your mod status is confirmed. So call them...alot.

I was declined because I "did not send my info in within 30 day." I was never told when the 30 days started or ended either. Not a joke. I quailfied for a temporary mod to boot!

Once they decline it in writing, there is nothing they will do for you either. Good luck

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#195863 Review #195863 is a subjective opinion of poster.

BofA loan modification, negative credit reporting | Bank Of America review from New York, New York

BofA's loan modification program is a joke. I've been faithfully making my regular mortgage pmts since Oct '09 when I first applied for the loan modification program. In January '10 they finally got around to my application after I got my Congressman involved. They've since been putting my pmts into a "partial payment" acct so that it appears to the regular loan dept that I'm in default. My pmts often don't appear on my stmts for months despite the fact that the money has been withdrawn from my checking acct. Now they've reported me as delinquent to the credit bureaus despite the fact that I can prove I've made every single payment within 30 days of the due date. My loan "negotiator" (also a joke) told me not to worry about the default notices and assured me that he could stop a foreclosure sale if one was accidentally scheduled. Are you kidding me??? I am now filing a complaint with BofA's CEO, the OCC and the FTC. They are corrupt and I wish my home was worth enough to refinance my mortgage so I could get away from this company forever.
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3 comments
Anonymous
#352344

If your loan with BofA is a HELOC and your first mortgage is upside down they cannot nor will not foreclose. In fact they eventually write off the loan and keep it because usually the balance is too high for outside collections.

Also you can file for chapter 13 BK protection which converts the HELOC into a unsecured debt and is paid on for 3 to 5 years for literally penny's on the dollar. After that time the loan is zeroed out.

Contact a good BK lawyer or leave your email here as a reply. I have an inside contact at the bank who has offered to blow the whistle.

Brian M
#182572

Whoa. I thought I was the only one.

Facebook I started is Loan Modificationisajoke.

Join me. This has to stop.

Anonymous
#179825

i have a mortgage with BOA. I usually pay my mortgage a week after the 16th.

Every month i pay with online banking. The money is taken out of the account on the date that i set up. These clowns don't post my payment until a month later and then they report 30 days on my credit report. This has happened several times.

Even after they get their payment they are still calling me 4 and 5 times a day. This is the craziest bank i have ever been involved with. Even when i pay within the 16 days, these crazy people still post my payment 2 to 3 weeks later.

I dont like this bank and im going to find out what the problem is, all this credit junk is a joke. I have proof of all payments that have been made and emails from BOA site saying when they posted the payments.

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#195165 Review #195165 is a subjective opinion of poster.
Service
Bank Of America Mortgage

What's up with BofA | Bank Of America review from Sacramento, California

I recently moved and set up my PG&E account online, so I could pay PG&E as I am elderly and disabled. When I went to pay my PG&E account they informed me that PG&E no longer accepts Bank of America Debit or Credit cards. I called B of A and asked why PG&E would not accept my card & was told they knew nothing about it. The individual put me on hold and after a short wait returned to tell me her supervisor advised her that it was true. PG&E does not accept payment from a B of A card. When I asked why B of A said they didn't know. I have to wonder if PG&E know something we don't know. I've heard roomers, now I'm starting to believe them. After being a B of A customer for over 40 years I think it's time to GET OUT & I AM!
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#194399 Review #194399 is a subjective opinion of poster.
Product
Bank Of America Credit Card
I have been a Bank of America customer for 10 years and i have about 9 thousand in my checking and saving account and I applied for an auto loan to refinance my car and they turned me down and my credit is good.I will be getting all my money out of my account and...
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5 comments
Anonymous
#372703

Had a country wide loan for ten years never missed or was late with a payment of $750.00 Then Bank Of America took over in reference to BAC Loans. In less than 2 years my payment has doubled and I was just notified by one of my friends that my name was in The Palm Coast paper Bank of Melon/and of America has filed forclosure on my proper.

I have never been served with any kind of Notice. Guess banks can do whatever they want until their stopped. My family including two small children moved out just incase they want the furniture too for more money.

How many families, children and babies have suffered because of Bank Of America. Guess they can;t be stopped unless the people stopped them one bank at a time

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#193960 Review #193960 is a subjective opinion of poster.
Product
Bank Of America Checking Account
This is really sad when big bank like you takes the repair money issued to consumer for roof repairs and applies it to principle of home loan and payments. The house is still leaking while consumer has talked with everyone from India to America about the claim for...
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23 comments
Anonymous
#478856

If you knew anything about your loan you wouldn't be whining, you agreed to everything you're crying about! The ”mortgage crisis” is honestly more the fault of *** homeowners than the banks.

Moral of the story? If you don't understand the big words on the papers, DON'T SIGN THEM!!

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#193899 Review #193899 is a subjective opinion of poster.
Service
Bank Of America Loan
Loss
$3