My husband and I went to Bank of America to refinance our
home last August, our payments are ridiculous. It took several months, lost
paperwork, shuffled around to different contacts, broken communication and all along I
kept telling them we need this done ASAP because we won't be able to pay all our bills
around December. I must've said that everytime I talked to someone and they told me
they understood and "it should close next very soon". I also communicated we needed
the loan fee wrapped into the new loan and not one time did anyone say that would be a
problem. They did ask me though...to be patient because they are restructuring and
closing offices...etc. So I was patient but wish I would not have been.
It finally closed November 28th but there was an issue with the loan fee which I was
told THE DAY BEFORE, would be taken care of, no worries. I couldn't get ahold of
anyone to answer what had happened on that and the loan processing company had to step
in on my behalf...they can't finalize the paperwork without an answer. Got ONE call
from our original loan agent who was on vacation in Florida and said he'd look into it
when he got back. I didn't hear from the loan processer again OR anyone at B.O.A. but
we DID get a new loan number and our first payment stub for February and our payments
were $600 less. Perfect! All is good! Except I still couldn't pay December's
mortgage yet but we had a month of relief in January (no payments at all due because
of the refinance) so I knew we'd catch that up and I communicated this.
I saw something on BOA's website about how they could help in unemployment or other
hardship situations. When I called in mid-January they informed me we were $4400
behind instead of just the one month. I explained we didn't have a payment in January
and that is when this whole thing started to spin out of control.
I immediately started loan modification processes, got in touch with Housing Education
and tried calling the loan office we had been working with in the first place to find
out why customer service is telling me there is a January payment? Nobody would
answer the phone or return my messages. I called Home Retention Services (apparently
my new and only contact option now) who 3-way dialed the loan office for me until she
got a live person on the line. I spoke with the Assistant Manager who was so rude but
said she'd get to the bottom of it but even SHE DIDN'T CALL ME BACK (that was 4 weeks
ago). Less than a week later we get notification that our loan has been taken back and
BOA now indends to escalate us to forclosure.
Now mind you...I thought we were behind only one payment. But even in the reality
that we were 51 days late...foreclosure?? And not one of those people called or will
answer my call or accept responsibility on BOA's part in any of this? I was patient
when they asked me to be and they cannot return any kind of similar consideration??
We scrambled to pull together 2 months payments (December was late partially because
unemployment benefits ran out) and make them online but our online option and again,
all routes pointed us to this Home Retention team to make payments. I tried for 2
days to get this done before I just went into the local BOA branch. I had one of the
managers make the payments for me so I had an internal witness an because by now I am
feeling like everything I am trying to do right somehow results in a big "wrong" and
to zero fault of my own. The bank manager then acknowledged their mistakes and sent us
to the escalation team claiming we would get this resolved and in his opinion BOA
should reinstate the refi-loan. Uhm...that was 19 days ago. NOTHING.
The foreclosure is supposed to be on hold because I filed for a modification but all of BOA'S paperwork STILL said if we weren't
current as of February 16th, they will begin foreclosure. I am currently 18 days
behind again and terrified. This mess has destroyed our good credit rating, we've
tapped out all our personal cash resources and have spent the past several months
wasting time getting into further financial trouble instead of making progress because
BANK OF AMERICA IS STRINGING US ALONG! I am working with 3 different organizations but
would really like to have someone at Bank of America with decision-making power,
listen to this disaster and fix it! Give us back the loan you took away because THAT WOULD STILLGET US BACK ON TRACK! Or did our refi slip through the cracks to get processed until someone caught it? That wouldn't fit into your "steal everything as fast as you can before they change the laws" plan to screw Freddie Mac back by proxy of their customers, huh?
February 17th, 2012 I called per instruction to verify my loan modification papers
were received. This is my 3rd call unanswered after they STRESSED the importance of
following up. And what did I find when I called? I have ANOTHER new account manager
named Ingrid who is unavailable to take my call.
Over the weekend I state down and fine-tooth combed our Mortgage/Checking accounts to
try and understand why my statement still shows we are two months behind in payments
because we are not. In my Mortgage payment history I find several transactions to the
account that do not correspond with what my checking account statements say with
regards to the dates payments were made. In fact, in a snapshot it makes us look like
we didn't pay anything a couple of months because they've pushed the date into the next
month instead of when we really did pay. While in the refinance fiasco...TWICE I was
told not to make my payments until the end of the month as we wait to see if the
loan would close. Twice I called in on the last day of the month, was told to
go ahead and pay, I did, it posted out of my account on the last day of the month but
my statement shows it going in, going out and then going in again in the following
month. WTF, Bank of America? My mortgage payment history looks like a confusing mess
and I had no idea you could make so many adjustments without me knowing...choosing
whatever date you feel like to show us making payments???
I have filed complaints my State Attorney General, The OCC, CEO at Bank of America and
will be pursuing any and all local State and Federal agencies. I am sure the FDIC
will be interested to know that Bank of America is NOT in compliance with FDIC
regulations for proper customer communication. They are drowning us in USPS mailings
(I've received the same packet 4 times!!!) and the other evening we received an auto-
dialed-recording "we are here for you" message. Really? All this "busy work" isn't
fooling anyone, BOA! Communication is when we get to speak our voice, too.
Product or Service Mentioned: Bank Of America Loan Modification.