State: District Of Columbia City: Washington Product: Bank Of America Mortgage Clear all filters (4 of 161 reviews match)

Bank of America charging $500 fee for unused LOC

We refinanced early 2009 and as a part of it, got a line of credit. Though the refinance place swore they rarely sold a mortgage, they did and BoA bought it. We never used our line of Credit but paid $75/year to keep it open. Our house was one the market two years and finally sold. At closing BoA wants $500 to close the LoC claiming we had to hold it for 3 yrs, but there was no penalty for early payoff. If there is money that should go to the seller after a sale ( I know - rare huh?) BoA works very hard to claim it. This is just wrong so I am complaining loudly and in every forum I can think of. Do not associate with them if you can help it. They are looking to separate you from your money.
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#310170 Review #310170 is a subjective opinion of poster.
Bank Of America Mortgage

Lost home to modification scam by Bank of America

Told us we could not be foreclosed on while in Modification, denied modification without notice, foreclosed with out notice, and auctioned of home with out notice. We were in constant contact with the bank, and told to wait underwriters were working on it. I was told not to look for modification elsewhere because the Bank would find out, and foreclose. I said I wanted to get a lawyer, and the bank officer told me, I would just be wasting money, and I should just wait. They however denied the modification without notice, and sold my house at auction without notice.
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#293822 Review #293822 is a subjective opinion of poster.
Bank Of America Mortgage
Bank of America keeps stalling my loan modification I applied for 3 mo's ago. When I follow up, they say the loan modification is "under review" with no time estimate though originally I was told I would receive a modification within 45 days...Now they sent a new...
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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.

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#180137 Review #180137 is a subjective opinion of poster.
Bank Of America Mortgage

Bank of America is horrible. The government needs to look into their lender practices immediately!

We applied for refinance on 3/11/09. We were in the midst of remodeling. We sent no less than 50 emails throughout 5 months requesting a response to our application.The mortgagee led us on for 5 months then when we pushed them for a response, they declined our loan! They referred us to another mortgage company alleging we could refinance somewhere else but they refused. We are in financial straights as a result of this company's questionable lending practices! I would recommend that anyone with a mortgage with this company get refinanced with another one ASAP. You will regret continuing to do business with this company.
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BOA will tell you they have pre-approved a loan then collect their $500-600 up front andhave their own corrupt Landline appraisal low ball you. You contact them for months and months an dmonths. Then 6 months later they suddenly deny your loan.

Obama, Congress and everyone else are letting it happen.

#157779 Review #157779 is a subjective opinion of poster.
Bank Of America Mortgage

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Mailing Address:
Bank of America Corporation
PO Box 25118
Tampa, Florida 33633-0900
United States
(315) 724-4022
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