Don K Glw

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Mortgage Process

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1/15/2021

Seniors Beware!! Bank of America Mortgage Practices are not ethical to Seniors and are misleading when you apply.

Don from Redondo Beach, CA

I have been a BofA customer since 1971 opening my first account at the Woodland Hills, Branch.

The Loan Officer indicated that I was a good candidate for my refi mortgage and encouraged me to apply. They charged me for a credit report and Appraisal that was over $1100. Then the BofA Mortgage process was a disaster and put me through a series of paperwork, uploads, downloads, rejections, cancellations, and the online program never worked properly, lost documents, deleted documents and asked for duplicates.

Nobody at BofA listened to me about what was going on with their online system and treated me like an old frustrated senior. Everyone should stay away from any thought of doing business with BofA concerning Mortgages.

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Loss:
$1050
Cons:
  • Terrible to seniors

Preferred solution: Let the company propose a solution

User's recommendation: Do not use B of A Mortgage Finance

Kristen W Cvu

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Verified Reviewer

Closed account due to inactivity while sick with Covid

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I was diagnosed with Covid two months ago. I notified the bank multiple times to update and ask please don't shut the account. It was kept open for the past two months. Went to check for my stimulus or Unemployment, that's backed up too, only they closed it without any notice knowing I was very sick and unemployed. Why? On the day stimulus checks are supposed to be deposited.? I have been on the phone many hours this morning pleading for them to re open it. Why wasn't I notified.. no email or letters? Very rude supervisor implied it was my fault for being out of work so long.. Really.? I'm just grateful my family didn't have to close the account with my death certificate. Covid. Another Supervisor informed me during our conversation that like 44 million customers were having issues this week. So it's 2021 and Covid doesn't exist anymore right?. Where are the protections or considerations for the people of America.? Do not bank with this bank ...period. Bank of "America " what a joke. Not to mention I can't even get into a bank because most branches are closed.
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Loss:
$600
Pros:
  • Headaches
Cons:
  • Shuts account down if you get covid

Preferred solution: Apology

User's recommendation: Do not bank with this company

Bruce B Tmd
map-marker Cincinnati, Ohio

Mail in checks not being deducted from my credit card account

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on one occasion deposited a check in a atm machine to pay on my balance on my credit card on January 4,2020 had to stop payment on the 27th because it never got cashed by BOA. Second time sent check in the mail with the normal monthly bill on the 24 of January still no documentation....what in ----is going on with you people. There are still no one in the banks working not even at the drive up tellers, no one answers any phone numbers locally or nationally. I intend to cancel my credit card with you as soon as this is straightened out also will be sending a letter to the attorney general of North Carolina to investigate.
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Loss:
$25
Pros:
  • Boa once had a good name
  • Long wait
Cons:
  • Automated telephone answering system
  • Bank policies

Preferred solution: i want my payment deducted from account

User's recommendation: do not reccomend average person to deal with BOA

Anonymous
map-marker Gettysburg, Pennsylvania

Terrible changes

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Recent changes in account status (overdraft protection, etc. Have caused unbelievable stress on 40 year customers who will change banks ASAP.
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User's recommendation: BANK AT ANOTHER BANK

Danny R Sku

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Verified Reviewer

Banks failure pay on a death claim

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My mother passed away leaving me as pay on death (POD) on her account. It would take hours to write all the lies and BS the bank has told me just suffice to say after 7 weeks they still refuse to release the funds. They are dishonest, they have told me several times the check was released only to find out that yet another department needs to review. I am beginning to believe they are trying to steal the money. Never do business with this bank. They are incompetent at best and dishonest at the most.
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Cons:
  • Way they do business

Preferred solution: Deliver product or service ordered

User's recommendation: RUN, don't walk away from this bank. There are lots of honest ones out there.

BRENDA M Gst

Car loan

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Bought a car in 2017 and got a little behind on the payments but trying to get them caught up. But the car got stolen in November of 2020 and the Guy that stole it ran from the law and he wrecked the car and the ins.

co deemed it a total loss and payed most of the car loan and so I thought maybe that would have caught the payment up but no the bank said all that went on the principle and they added more interest to it and now I'm weighting on the gap to pay on it but the bank is dragging there feet to get me the paper work so it can get sent to them and every time I call them they are but wholes and I paid a thousand dollars on it and yes i understand I do have to pay.

but i would think a payment is a payment no matter where it comes from. And I talked to the Bank president and he told me there's nothing he could do So what do you think Thanks

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Cons:
  • Unreasonable time for crediting deposited funds
  • Late loan processing

Preferred solution: take the late payment off

User's recommendation: watch were you get your loans try to get them at credit unions interest is a lot cheeper

Danny R Sku

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Verified Reviewer
| map-marker Saint Louis, Missouri

Banks failure to pay a POD claim

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My mother died, she had a BOA account with me as the pay on death (POD). I have a death certificate I took to the bank. It would take me all day to explain the run a round I have been through. But it has been almost 7 weeks and today they said at least 8-10 more days. She another account with PNC bank, they paid in one day. I think they are trying to steal this money. Don't ever do business with BOA.
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User's recommendation: RUN don't walk to any bank other than BOA.

Trent J Zyw
map-marker Apache Junction, Arizona

Poor service and more

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Bank located on Apache Trail, Apache Junction, AZ is a terrible bank, with short hours, limited staff, broken ATM drive-thru, never having a notary on hand, and having no drive-up banking window. Overall the bank offers basic teller services with limited other things if they are open or working. Sadly I have been with them for 16 years, but I am starting to get upset.
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User's recommendation: Find another bank, any bank!

catherine l Lva

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Verified Reviewer

Horrid customer care

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Original review Jan 06, 2021

Bank of America closed my credit card account with no warning due to inactivity. It was my card with the largest credit limit but no rewards such as cash back so I saved it only for emergencies.

I would put a small transaction on a month to keep it active but didn't for the last few months. That's all it took. I've never carried a balance on it, it's never been in default. They just closed it.

Which is going to do a number on my FICO score.

So I'm removing my funds from both checking and savings accounts I have with them and going elsewhere. They do not treat their customers like valued customers.

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Pros:
  • Availability
  • Online ability
  • Convenience
Cons:
  • No reconsideration offered
  • Poor customer service
  • Overall failure for a good long term customer

Preferred solution: Let the company propose a solution

User's recommendation: Look elsewhere

1 comment
Guest

Listen, if you're not carrying a balance, you're not making them money. This means you're worthless to them.

They aren't in the FICO score business nor concerned with your struggles. When you signed up, YOU agreed to this possibility. YOU did READ and UNDERSTAND the terms right? Clearly not as you're here whining like a child.

Banks only have so much credit to offer, they took your unused limit and poof.. Someone magically got a credit line increase.

This is business, stop taking it personally. OK say it..." you must work for them."

Charles D Xqy
map-marker Tucson, Arizona

They are Idiots

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I am retired and am worth millions. I have a credit score in excess of 800.

Never missed or been late on any mortgage payment (ever), even the one I had for years with B of A. I pay every one of my credit cards on time and in full. I asked B of A to refi my existing loan at (which it solicited monthly ) at a lower rate than and hundreds of dollars a month less than what I had been paying these *** for many years. The loan I was seeking was less than $240K, no cash out, was less than the amount I could have paid off with a check the next day and was about 30% loan to value.

Duh!!!! Those idiots turned me down because I could not show that I had liquid assets (which they discounted by 40% for whatever moronic reason) sufficient to pay every payment due all 30 years of the loan even though I am over 70 years old and will not live that long. I could pay off the loan tomorrow by check, but still they decided I was not a good credit risk.

Their own loan officer said he was shocked at the stupidity of the bank's underwriting department. [Can't imagine why he still works there.] B of A turned down an existing customer with impeccable credit history who would pay far less than he was already paying its own loan each month, who had excellent credit, had ,many hundreds or thousands of dollars in equity above the loan requested, who could pay off the loan from his checking account and who would obviously pay off the AvoidAloan before he would ever let a greedy bank take his property.

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Preferred solution: Apology

User's recommendation: Avoid these idiots at all cost

1 comment
Guest

No one cares..

Maureen N Rqz

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Verified Reviewer
| map-marker Virginia Beach, Virginia

Appauling lack of concern

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I visited your bank this morning on First Colonial Road after getting a heslth screening. I had a wonderful chat with the Security gentleman before entering as we have always enjoyed friendly banter at the Oceanfront branch. There was 4 people in line. One teller. The time was slow with the first 2 as they had quite a bit of transaction. Another 2 older gentlemen came in behind me . A man dressed with briefcase came in , not acknowledging at all anyone in line with even so much as a nod. He scurried to his office cubicle that was in plain view to me and the others. A lady came in and he shuttled her into his coral and proceeded to discuss rather loudly the levels of the creditcards you offer. Meanwhile this add blasted through the cavernous non noise absorbing lobby about how precious our time is and online banking blahblahblah. The elderly man behind me crumpled on the ground in apprehension that we were in forever. The man behind him said I cant get down to sit( on floor like you) because i wont be able to get up.. i was shocked as the man in suit saw this man on floor and so did this lady that floated through the lobby to go behind some doors. 30minutes past already. Then floaty lady came out and bellowed i can take anyone that just wants to make a deposit.!then disappeared again never to be seen again. Meanwhile, elderly gent STILL sitting on cold ugly floor! No may i offer you this chair??? No nothing!!! When finally i made my condos deposit i went up to the by then red eyed other man and reasured him that he was an important man and wanted to take his lack of respect shown to him and lay it on the alter. It was bad it was way bad. Those men left with a rrrrrereeaaaalllly bad taste in their mouth ss I certainly did also Shame on you.
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Pros:
  • How it used to be
Cons:
  • Very bad costumer service from manager to employee

Preferred solution: Golden rule practiced

User's recommendation: Find a bank that cares

2 comments
Guest

Appalling lack of spelling skills.

Guest

Drama 101 is down the hall. No One Cares....

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Paul F Vux

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Verified Reviewer
| map-marker Alpharetta, Georgia

Closed Branch Locations

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What genius decided to close a significant number of branch locations with the remaining locations requiring drive through service causing lines to form around the bank. All this during the holidays when you know traffic will be high. Time to take my business elsewhere!
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User's recommendation: Try someone else.

Anonymous
map-marker Vero Beach, Florida

Statements

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WtfI got an email from the bank saying my "mail...ie, statement(s) could possibly be delayed due to the delays in the Postal Service. In reality, Bank of America wants everyone to get their statements vi email.

I happen to like having a statement in my hand, and with the interest plus "annual fee" for my Alaska Airlines Visa through Bank of America, I do not want to sign up for "paperless statements". With the money they are making off me, I want &;; am entitled to a monthly statement through the mail!

If I "go paperless" and want a statement, I'll have to print it myself which will "save the bank money", but cost me even more money in addition to what i'm paying them already. The "mail delay" message/email the bank is sending, I believe, is a "ploy" to intimidate and get everyone to "go paperless" so the bank can save/make even more money!

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User's recommendation: only go paperless through personal choice & not dictatorship/intimidation

1 comment
Guest

No one cares...

James S Wou

I feel I was taken advantage of

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Last Jun 2020 I requested a 3 month sabbatical from my monthly payment which was quickly granted. At the time I was led to believe that these 3 payments would be added to the end of the loan.

This was quite the relief because of income at the time. These 3 months were over in August and mortgage payments were to resume September 1. It was at this time when we started receiving a LOT of mail from BOA, most of it was not understandable by either of us. (Note that I am a college graduate).

Also note that due to the pandemic we were only getting our mail once a month so a lot of things were late. After several attempts to reach someone at BOA and also LONG waits on the phone I finally got some answers. It seems BOA wanted us to immediately pay back the 3 months! We were finally given the "opportunity" to move the payments to the end of the loan but it was going to cost us over $600!

They wanted to renegotiate the entire loan. Note that this was a very bad time for most of America as well as us and finding this money was not going to be easy. We did not want to redo the entire loan either. So finally I got pissed at them and let someone have it!

I told them I would just pay back to money over time and if they didn't like it , TOUGH. Haven't heard much from them since.

All their kind words of help during a bad time was all a scam to get even more money from us. I would NEVER tell someone to have any dealings with BOA for anything.

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Loss:
$1200
Cons:
  • Saying one thing and doing another
  • Terrible communication
  • Very confusing paperwork and mail

Preferred solution: Deliver product or service ordered

User's recommendation: Have a lawyer with you at any time you have to deal with BOA as they love to confuse you with "lawyer speak" to keep you from understanding.

Kelly R Ytc

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Deducted $ without informing speaking to me

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I had a business credit card. I also have 4 personal accounts. I assumed the card was being paid, because I did not receive any information with regards to this old account. Then one day, they deducted a VERY large sum from my personal account and only found out about it because they sent me a letter to my home. When I went to investigate, they had a closed office address, mailing address that I havent lived at for 6 yrs and an invalid phone number. After calling, the idiot on the other said we reached out to you. NO. I didnt receive anything, but they sure could find me to withdraw $$ and inform me of that.
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Loss:
$3
Cons:
  • Lack of customer service
  • Stole my money
  • Unprofessional

Preferred solution: Price reduction

User's recommendation: Use another bank!!!

1 comment
Guest

"I assumed" How can someone who is in business survive by assuming? You do know the old trope regarding assuming anything.

Listen, did you update and confirm your mailing addresses were current. IF not, you asSumed and again and were made the fool.

Stop being a fool and assuming anything. OK..Say it..."you must work for(insert company I'm mad at)."

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